WalletDoctorBlog be wisely frugal but selectively extravagant�

Have you ever wondered WalletDoctorBlog why
so many solid businessman drive cruddy, old
cars from a dingy, run down offices to their
palatial homes in the suburbs? Warren Buffet,
perhaps the greatest investor alive is known for
this. The reason they live this life style is not
because they are cheap misers but because they
have a high level of financial intelligence that
you can develop as well.

http://www.walletdoctor.com/stockcd.htm

They understand that if they have $90,000.00 that
they could either put that money into
1. reducing their debt
2. invest it into the stock market
3. selective home improvements
4. improve the appearance of their business facilities (I am assuming that this doesn�t have an appreciable impact on their profitability and believe me it almost never does despite excuse mangers make to blow money)
5. buy a new Mercedes Benz for themselves
6. buy their children a new car.

http://www.walletdoctor.com/stockcd.htm

The first two choices increase your net worth
(equity) which is always a good thing and equity
is not taxed. The third choice increases your
enjoyment (utility) of your home. If you remodel
your kitchen or bath appropriately you may also
increase your equity. So if you have spare cash
in excess of your debts and a solid investment,
savings plan than this can be a good choice as well.

http://www.walletdoctor.com/stockcd.htm

The fourth and fifth choices are TOTAL wastes of
money because your business sits there for you to
suck money out of and nothing else. A car loses a
quarter of its value the moment it is driven off of
the lot and then continues its downward slide to
nothing. Depreciating assets are not investments
they are financially undesirable necessities if you
can�t walk everywhere you need to go. An automobile
is a financially undesirable necessity, nothing more,
nothing, less.

http://www.walletdoctor.com/stockcd.htm

The very last choice is the worst possible use of
your money. Not only do you waste your money
but you also teach and reinforce financial
mismanagement in the minds of your offspring.
Your children learn that they do not have to work
for anything they want. Worse still they will
mentally assign a value to the automobile relative to
the amount of effort it took for them to acquire it
and that is zero.

http://www.walletdoctor.com/stockcd.htm

In Steven Silbiger�s book �The Jewish Phenomenon�
(a book all ethnicities can learn from) he describes
in other ways why this concept of being
prudently frugal yet selectively extravagant is a major
key to the extraordinary wealth of the Jewish ethnicity.
He shows clearly how Jewish families use this wisdom
to convert their income into lasting wealth. Don�t forget
that this wisdom is not restricted to Jews and in fact is
the underlying lying cause of financial stability in high
income families of low income ethnicity. The most
enduring wealth of course is a debt free life style with
adequate passive income and the knowledge to recoup it
all if lost. Learn more about stock investing the right
way by going here now:

http://www.walletdoctor.com/stockcd.htm

-Scott

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