Poverty & Prosperity

Interest Rates and Personal Investing

Investments occur over time, and therefore the time element of interest rate “compounding” is extremely important. By compounding we mean interest that is paid on interest, which been reinvested; in other words, “interest on interest.” If this seems confusing, please stay with it until it becomes clear. To understand why, consider that Albert Einstein once

2020-10-27T15:16:43-05:00Tags: , |

To Break the Chains of Poverty, We Must Take Mentoring Seriously

Poverty is present all over the world. The United States is not immune to poverty — more than one in 10 Americans have an income below the poverty level. Although there is no consensus as to the cause of poverty, there are certain variables that are associated with it.

Learn how to start a mentorship relationship

Read the Small Print

Following an earlier column on consumer debt, I had the opportunity to discuss the subject with a number of people. One of the questions I was asked was particularly enlightening: “In addition to scaling back spending, what else can someone do to better manage their debt?”

My answer: “read all of the terms of your credit

2020-10-27T15:34:19-05:00

Is College Worth It?

Attending college has become increasingly politicized. As a result, discussing the relative costs and benefits of college has become somewhat contentious. This is unfortunate because for many people paying for college will be their second largest purchase, second only to their home.

Similar to purchasing a home, many people fund college with debt. The trend of

Empowering Survivors of Sex Trafficking Through Cause Cuisine

Fancy dining and charity have been closely linked since at least the 19th century. What better way to raise funds for a charity than to collect potential donors together and to feed them? Ticket sales alone raise money, and then an inspirational program conducted over a sumptuous luncheon or dinner persuades the paying guests to reach more deeply into

“Ten Commandments” of Personal Finance

I was recently speaking with someone about the personal financial challenges that I have observed over time. Toward the end of our conversation the person I was speaking with stated that, “It would likely be helpful if you could distill key personal finance “rules” into a grand list that is easy to follow. Sort of

Selecting A Charity: Trust But Verify

A good friend recently asked me several questions about selecting a charity. As I was considering how to respond, he asked, “Isn’t it a lot like selecting an investment?”

There are obvious differences between making an investment and supporting a charity. Primary amongst these is that charities are generally chosen to align with one’s belief system

2020-10-28T07:17:59-05:00Tags: |

Personal Finance and Winston Churchill

Winston Churchill is widely regarded as one of the most influential people of the 20th Century. Many political and military books have been written about him. I was therefore pleasantly surprised when I came across a recently published book that chronicled Mr. Churchill’s life from a personal finance perspective.

David Lough’s superb book, “No More Champagne:

2020-10-28T07:32:18-05:00Tags: , |

What It Takes to Make Inequality a National Priority

Inequality is a phenomenon that humans have dealt with for millennia. No society has been able eliminate inequality and it’s unlikely to ever disappear completely. In the US, inequality has become an increasingly popular topic in the media as different groups advocate for higher wages or additional benefits. A recent poll conducted by The New

The Tzu-Chi Foundation Helps Victims Retain Dignity After Natural Disasters

Tzu-Chi is a Buddhist humanitarian aid foundation that has helped the world through many of its greatest hardships since its start in Taiwan in 1966. Its support in some of the U.S.’s most recent tragedies has been vital to our recovery. For example, on Sept. 11, 2001, only three charity organizations were allowed on ground

Caring for Others is a Question of Values, Not Income

The American people are no strangers to the spirit of charitable giving. A phenomenal figure from Charity Navigator shows that as many as 50 percent of American households donated money when the 2010 earthquake devastated Haiti.

This giving accumulated to $1.4 billion. Another example of American goodness was the $1.6 billion donated to victims of the

2020-11-11T09:19:53-06:00

Winning War on Poverty Demands Shifting Focus to Fighting Unemployment

In 1964, then-President Lyndon B. Johnson declared war. Not a foreign war to be waged against another country fought with soldiers, tanks and bombs, but a war to be waged at home.

The enemy: poverty. The weapons: initiatives intent on improving education, health, skills, jobs and access to economic resources for those stuck in poverty. The

2020-10-28T12:00:13-05:00Tags: , |

How the Poor View the Rich and Relate to the American Dream

The core of the American Dream — equality of opportunity and rewards commensurate with efforts and abilities — has enchanted millions of people across the globe. However, it is important to assess whether the reality bears out that ideal. Although two-thirds of Americans (69 percent) agree with the statement that “people are rewarded for intelligence

2020-10-28T12:22:08-05:00

Many Potential College Students are Not Going to University Partly Because of Fear of Debt.

Clearly, there can be problems when students and their families take on too much debt to pay for school. But the pendulum has swung too far. Many potential college students are not going to university, forever hindering themselves, partly because of fear of debt. There are various options that students can look into that will

2020-10-28T14:18:28-05:00Tags: |

How to think about Prices

Many commentators talk about consumer prices. For example, there is often a great deal of discussion on the Consumer Price Index, or CPI, which is a popular barometer of consumer prices. If you look at a long-term chart of this barometer it will show an increasing trend of prices since the year 1960.

While economic barometers

2020-10-28T14:23:56-05:00
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