Old wisdom is as nice to find as a box of money

The Ticker

April 05, 1996|By Julius Westheimer

MY CLOCK reads 4: 15 a.m. I resist the temptation to bring in The Sun, Wall Street Journal and New York Times, which just plopped on the driveway.

I finally attack a pile of pages, clippings, etc., from magazines, newsletters and books that never made it into Tickers. Here's a column from that stack:

"Put away a certain amount each week. If not a dollar, then 50 cents. If that's too much, 25 cents. Habitual saving makes you careful." ("Dollars And Sense," 1907.)

"If there's good reason to question a stock you own, sell it -- regardless of loss." ("A Successful Investor's Letters to His Son," 1934.)

"When market is too high, and 'cats and dogs' jump up after good ones hesitate and sag, it's time to sell." (My father, a stockbroker decades ago.)

"If you get fired, don't just take the package and run. Negotiate the best deal from your company." (Fortune, Jan. 15.) Many libraries have copies.

"Some people marry spendthrifts. Since money is the most threatening issue in marriage, it's not 'unromantic' to discuss money beforehand. Spouse conversion is difficult after you say 'I do.' " (Tightwad Gazette, Jan.)

"Airlines often slash 30-50 percent off fares just for one day. Look for newspaper ads weekdays, not in weekend travel sections." (Travel Companion.)

"Balance your checkbook by computer, slice number of credit cards, prune mutual fund portfolio, look for fund records in libraries' Morningstar Mutual Funds." ("Moves to Save Time and Money," in Money, Feb.)

"Make temporary work an interim move. Companies increasingly use 'temps.' You may not want to 'temp' forever, but good outweighs bad as a career stop-gap." (Amtrak magazine.)

"Before 40, learn all about your profession, develop your own style, know your strengths and weaknesses, start putting away 'I quit' money and learn to keep your mouth shut." (Success, an old issue.)

"So somebody doesn't accidentally get your raincoat from

TC checkroom or coatrack, slip your business card in the pocket. If someone takes your coat, he or she will know who and where you are." (Overheard somewhere.)

"If you retire with a $50,000 annual income, you'll need $133,000 a year 25 years from now (4 percent inflation), to maintain your living standard. At 5 percent inflation, you'll need $169,000." (CNBC News.)

By request, numbers and addresses: For lowest mortgage rates, phone HSH Associates (new number 800-873-2837).

For a list of lowest credit card rates and no-annual-fee-cards, send $4 to Bankcard Holders of America, 524 Branch Drive, Salem, Va. 24153.

To subscribe to "100 Highest CD Yields," call 800-327 7717, ext. 255, or write Box 088888, North Palm Beach, Fla. 33408. A trial eight-week subscription is $48.

"Check on your financial planner by calling Certified Financial Planner Board of Standards, 303-830-7543, ext. 219." (Business Week, March 11.)

"Take nicer clothes to consignment shops and resell them before you send them to Goodwill pile." (The Cheap Report, Feb.)

From 1934 to 1995 there were 60 reasons people didn't put money into stocks -- Depression, assassinations, Vietnam, Watergate, etc. But in that period, $10,000 in the S&P 500-stock average grew to $6,627,000 (that's no misprint.)

"Instead of making a mortgage payment monthly, make half a payment every two weeks. That equals 13 monthly payments, not 12, and that's the magic. A 30-year loan is now 20 years, and on a $100,000, 30-year loan you save $77,635 in interest." (An old Barron's.)

"The U.S. inflation-adjusted wage has been in decline since 1973." ("Financial Planning on Wall Street.")

"During early periods of a person's life, the greatest danger is not to take a risk." (Soren Kierkegaard.)

"If you don't keep your employees happy, they won't keep your customers happy." (A Red Lobster vice president, quoted in the New York Times, 1989.)

"Regulatory agencies within five years become controlled by industries they were set up to regulate." (Gabriel Kolko.)

"If you don't know who you are, the stock market is an expensive place to find out." (George Goodman, 1959.)

"The only person wise about the future is one who keeps his mouth shut." (John Kenneth Galbraith, 1986.)

Pub Date: 4/05/96

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