Happy New Year to all of my readers. Here's wishing you a very prosperous 2013!
Switching back to personal finance just in time for your new year resolutions, there are a lot of decisions that we can make in our lives that is more important that how many pounds we chose to gain or lose in a year. And right on top of my list will be the one to go get an education or higher education or some trade related certification or just to start reading a good book on personal development.
To all my friends who are either working towards getting a new degree or have got a degree in the past year, my hats off to you and to all of you on the sidelines wondering, I hope these numbers will convince you, "Education Pays".
The average unemployment rate in the US was 9.6% in 2011 and 8.1% in 2012, but you can see how it got materially lower as the education level increased.
Date Source: Bureau of Labor statistics
If you don't have a business idea or a product and the backing of a shark, the least you will need is a Bachelor's Degree!
A lot of the $451 per week jobs have gone overseas and that is a problem, but a lot of the $1,665 jobs are very much in the US and we are bringing in people from overseas to fill them - isn't that an even bigger problem? Or shall I say , "Opportunity"?
A lot of the $451 per week jobs have gone overseas and that is a problem, but a lot of the $1,665 jobs are very much in the US and we are bringing in people from overseas to fill them - isn't that an even bigger problem? Or shall I say , "Opportunity"?
4 comments:
Financial Management means more to me today than what it did a few years ago.
I recently read about two types of investments - one to manage risks and the other to create wealth.
While risk management has been taken care of thanks to the Indian Governments options to save tax on Insurances - the thought of creating wealth has never been there before.
Are there some tried and tested methods that non-finance brains can use to create wealth through investments.
An Indian scenario will help!!
When 'Financial Management' starts meaning something to you, it is pretty much the first step in the right direction.
I will work with you privately to help make your own financial plan. For the rest of the readers, here are a couple of thoughts based on this comment:
1. Government assistance/ directives should only be relied upon as a safety net or an absolute bare minimum last resort. Because government efforts are usually directed towards ( and rightly so) the lowest common denominator i.e. the 14% unemployed or the $ 451/week income. If you are training your sights on anything above the national average, wherever in the world you may be, it is pretty much up to you.
2. It is a global economy and the world is flatter than ever before. You could be in India / US / Europe, the principles are generally the same.
3. Start at Wealth Generation 101. http://willyouretireamillionaire.blogspot.com/p/wealth-generation-101.html
Watch where your income ($/R)is going? Is it becoming an expense or is it becoming an asset which will in turn generate more income????
When the answer to this question is "Assets", then we can focus on which asset and what is your risk appetite and so on. Generally, real estate is a good first step.
Very good post.
this is very informative post.
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