7 things financially successful peopl...

7 things financially successful people know and practice

There are 23 comments on the Newsday story from Apr 26, 2009, titled 7 things financially successful people know and practice. In it, Newsday reports that:

What are the differences between people who thrive with money and those who don't? Probably not what you think.

Join the discussion below, or Read more at Newsday.

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nassau Tax Slaves

Goldsboro, NC

#1 Apr 26, 2009
first savy way is to move off that crowed island and stop paying those taxes
Just Wondering

Richmond Hill, NY

#2 Apr 26, 2009
One good way to make yourself wealthy:

Don't have kids.

I never wanted them and I retired last year at the age of 45.
bill p

Oregon City, OR

#4 Apr 26, 2009
I thoroughly enjoy getting over 750 bucks a month in interest in savings vehicles. Started at the bottom and worked my way up. Been retired for 5 years and no debts!
T bird 3

Brooklyn, NY

#5 Apr 26, 2009
Do it the old way.
Have wealthy parents.
pedone

Nyack, NY

#6 Apr 26, 2009
The only advice these people need:

GROW THE F UP AND TAKE RESPNSILBILITY FOR YOURSELF!
PR_Flack_In_Trai ning

Butler, NJ

#7 Apr 26, 2009
How much did the author pay to have this article published? Does Newsday share in royalties from book sales?
Cut Costs

Massapequa, NY

#8 Apr 26, 2009
Made a few cost cutting steps this year and it's paying off.

Got rid of Verizon phone, replaced with ooma.com internet phone. Better service, much cheaper.

Put up TV antenna to get hi-def channels over the air (OTA) from NYC. "House" and "Fringe" look great. Got rid of the cable bill. Replaced set top box with Mac mini. Get most programming streamed over the Internet, iTunes. The mini also processes the OTA signal with eyeTV.

Took advantage of LIPA rebate and tax credits on installing solar panels. Installed nice system, eliminated electric bill.

Looking into replacing central air and natural gas heating with geothermal this year.
south shore

Lindenhurst, NY

#9 Apr 26, 2009
I love the advice of haggeling (not)...So that we now are becoming more of a third world country. Yeah, maybe in India and China or Mexico, you can haggle, but believe me when you do it here, you look like a complete fool. How about?, if you can't afford it, don't buy it.
jbb

Copiague, NY

#11 Apr 26, 2009
its like losing weight. Take in less calories than you expend. So spend less money than what you bring in income.
Observer

New York, NY

#12 Apr 27, 2009
Just Wondering wrote:
One good way to make yourself wealthy:
Don't have kids.
I never wanted them and I retired last year at the age of 45.
But what do you have instead? Inquiring minds want to know.
Winners

Tarrytown, NY

#14 Apr 27, 2009
OBAMA uses the Castro, Chavez model
‘Report: Biden's Son, Brother Marketed Hedge Fund Through Stanford Company
Vice President Joe Biden's brother and son ran a fund of hedge funds marketed by companies controlled by disgraced Texas billionaire R. Allen Stanford, according to a report published in the Wall Street Journal.’
WASHINGTON (Reuters)– Lawrence Summers, a top economic adviser to U.S. President Barack Obama, was paid about $5.2 million by hedge fund D.E. Shaw in the past year, financial disclosure forms released by the White House showed on Friday.Summers, a former U.S. Treasury secretary and Harvard University president, also was paid $2.7 million in speaking fees by a range of organizations and companies, including several troubled Wall Street financial firms, they showed.

Gee why bailout AIG?
'Hedge funds are typically open only to a limited range of professional or wealthy investors.' Friends of………
'Hedge funds are typically open only to a limited range of professional or wealthy investors. This provides them with an exemption in many jurisdictions from regulations governing short selling, derivative contracts, leverage, fee structures and the liquidity of interests in the fund. A hedge fund will nevertheless commit itself to a particular investment strategy, and therefore often particular investment types and leverage levels, via statements in its offering documentation, thereby giving investors some certainty regarding the nature of the fund.'

Do not pay on credit default swaps! They are not regulated and therefore should not be enforce!

This guy makes it simple for the dumb tax payer
‘Eric Dinallo, superintendent of New York State's Insurance Department, railed on Friday against AIG's failed business model, likening its insuring credit-default swaps as gambling with somebody else's money. "It's like taking insurance on your neighbor's house and even maybe contributing to blowing it up," he said at a panel sponsored by New York University's Stern School of Business.’
Here is the laugh.
Citi spends $3.5M to reward Smith Barney brokers.
“These are predatory schemes designed to rob Americans of their savings and potentially their homes," Treasury Secretary Timothy Geithner said. "We will shut down fraudulent companies more quickly than before. We will target companies that otherwise would have gone unnoticed under the radar."Now your tax money go to citi and your house is gone. How foolish do you feel?
GM and chrysler receive billion of you tax payers' money. You can't afford a vacation. They have billions for people who don't work!
'GM's plan is estimated to be $20 billion, or about 20 percent underfunded, while Chrysler's plan is 34 percent underfunded, leading to a $9 billion-plus shortfall, the agency said. Ford's funded ratio is not publicly available, but the company's pension plans are likely running at a $12 billion deficit, it said.'
While the former USA is changing laws and policies as it grows, Nowhere? Revoke all trusts or reduce to max $3,000,000.00 per trust, Declare banks insolvent. Payout the max $250,000.00 FDIC! Get the money circulating!? If Buffet, Gates and other billionaires were to die the inheritors’ tax kicks in at 3 million and the rest of the money goes to the people(new government) of the former USA.
the government's version of a 401(k)-- they are also offered a defined-benefit pension plan backed by the U.S. Treasury and largely insulated from Wall Street fluctuations.
Lawmakers' retirement benefits start earlier and accrue faster than in plans offered to other federal workers, or by the average private company. Lawmakers also get cost-of-living increases, increasingly rare in the private sector.
Winners

Tarrytown, NY

#15 Apr 27, 2009
Priorities baby! Stop the corporate tax deductions!
Pay people 20 mill a movie to play make believe.Yankees signing CC Sabathia for 161 Million Dollars.The Yankees landed their second starting pitcher in 72 hours Friday when A.J. Burnett agreed to a five-year,$82.5-million contract.
2007
LOS ANGELES, Calif.-- It's no secret that most celebs can't complain when it comes to their salaries - but how much do they actually make?
According to Parade, quite a range in 2008 - from $1 to billions.
Jennifer Aniston reportedly earned $27 million on the strength of films such as "Marley & Me," and funnyman Will Ferrell made $31 million. Actor/director Tyler Perry , the force behind the "Madea" movies, brought home $125 million, while "Grey's Anatomy" star Patrick Dempsey made a McDreamy $3.5 million.
In the music world, Beyonce scored $80 million thanks to her latest album, "I Am... Sasha Fierce" and a budding film career, and husband Jay-Z did even better with $82 million. Country cutie Taylor Swift - the top-selling musician of 2008 - made $5.5 million. Resurgent pop princess Britney Spears wasn't far behind, making $2.25 million.
VIEW THE PHOTOS: Jennifer Aniston: From TV 'Friend' To Box Office Superstar
Sports stars cleaned up as well, with Yankees slugger Alex Rodriguez making $34 million and golf champ Tiger Woods taking home $110 million. Racecar driver Danica Patrick earned $7 million.
TV host Kelly Ripa earned $8 million, while supermodel Carolyn Murphy took home $4.5 million. Popular author John Grisham made $25 million and controversial radio host Rush Limbaugh walked away with $38 million.
Among the more outrageous posthumous packages:
$298.1 million for Comcast CEO Brian Roberts
$288 million for Nabors CEO Eugene Isenberg
$115.6 million for Occidental CEO Ray Irani
We are winners
$17 million for Shaw Group CEO J.M. Bernhard to not compete with the firm after he dies
The Top 10 executive salary
1. Larry Ellison, Oracle Corp.,$84.6 million
2. John Thain, Merrill Lynch & Co.,$83.1 million
3. Leslie Moonves, CBS Corp.,$67.6 million
4. Richard Adkerson, Freeport-McMoRan Copper & Gold Inc.,$65.3 million
5. Bob Simpson, XTO Energy Inc.,$56.6 million
6. Lloyd Blankfein, Goldman Sachs Group Inc.,$53.9 million
7. Kenneth Chenault, American Express Co.,$51.7 million
8. Eugene Isenberg, Nabors Industries Ltd.,$44.6 million
9. John Mack, Morgan Stanley,$41.7 million
10. Glenn Murphy, Gap Inc.,$39.1 million
Three chief executives with ties to the mortgage crisis were paid $460 million over five years, according to a congressional report issued Thursday.
jenny

Brooklyn, NY

#16 Apr 27, 2009
Auto deduction into a Roth., Take Police Civil Service tests, or Get a Masters to Teach.
American hero

Tarrytown, NY

#17 Apr 27, 2009
A true American hero is one who steals $40,000,000.00 give $10,000,000.00 to charity and the people say look at all the good he has done!
jenny

Brooklyn, NY

#18 Apr 27, 2009
Just Wondering wrote:
One good way to make yourself wealthy:
Don't have kids.
I never wanted them and I retired last year at the age of 45.
And the white people disappear.
kenny rogers

New York, NY

#19 Apr 27, 2009
You got to know when to hold em, know when to fold em,
Know when to walk away and know when to run.
You never count your money when youre sittin at the table.
Therell be time enough for countin when the dealins done.
Just Wondering

United States

#20 Apr 27, 2009
Observer wrote:
<quoted text>
But what do you have instead? Inquiring minds want to know.
I do not have to make the awful trip to my former office which was in Jersey City, New Jersey. I do not have to get up early. I can go out more in the evening now because I am not worn out after a day at work. I can do more of my volunteer work in area schools. I can come and go as I please. I can spend more time with my ladyfriend.

I had been working part-time for the last 7 years so it was not a big change to now work no-time.

Good enough?
nassau Tax Slaves

Goldsboro, NC

#21 Apr 29, 2009
Just Wondering wrote:
One good way to make yourself wealthy:
Don't have kids.
I never wanted them and I retired last year at the age of 45.
You never had kids becuase your fat and ugly and nobody likes you not even kids,so now that your retired and you still cant get laid try craigslist because sometimes even a blind squirel finds a nut!
Just Wondering

United States

#22 Apr 29, 2009
nassau Tax Slaves wrote:
<quoted text>You never had kids becuase **** and ugly and nobody likes you not even kids,so now that your retired and you still cant get laid try craigslist because sometimes even a blind squirel finds a nut!
You are such a moron or troll it isn't funny. Jealous, too.

I do volunteer work in several area schools, and I can do more of it now that I am retired. I have had a steady ladyfriend for the last 5 years, so no problem in that department.

Go back into your cave or to your planet or wherever you came from!
nassau Tax Slaves

Goldsboro, NC

#23 Apr 29, 2009
Just Wondering wrote:
<quoted text>
You are such a moron or troll it isn't funny. Jealous, too.
I do volunteer work in several area schools, and I can do more of it now that I am retired. I have had a steady ladyfriend for the last 5 years, so no problem in that now.
Go back into your cave or to your planet or wherever you came from!
departmentI just used a little sycology on you and its funny how it works ,people will describe themselves to a tee when trying to defend there life so lets get this right,your a moron troll.PS there is no such thing as lady friends over 40 ,we all know your not getting it

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