I said last week that money doesn't generally buy happiness, but the lack of it can buy absolute misery. This, by the way, is not just my personal observation. It is the conclusion of some of the most respected happiness researchers (Yes, there is such a thing -- read my book.)
The trouble is that we have to pay attention to money more when we lack it than when we have it. This doesn't seem fair, but the Lord works in mysterious ways. Most people are invested in the stock market, either directly or through mutual funds, pension plans or some other vehicle. So it is hard not to be part of the Panic Crowd. But I ,in all my financial wisdom, have two golden rules to offer. These may not make you rich, but they will keep you happy.
Number One: Place your investments in the safest vehicles possible (Do as I say, not as I do!) and forget about them. When the next recession ends, take inventory and see that you still have investments. Most of us don't get a rush out of watching our investments plunge or yo-yo up and down. Most people are happier when they forget they even have investments.
Number Two: If you are one of those people with a terminal case of Itchy Trading Finger, then you probably would not be happy ignoring your investments. Place aside what you need for the long term, such as retirement if your heart lasts that long. Don't play with this money. Don't touch it. Trade only with "extra" money. The rest of you are asking, "What's that?", but Itchy Trading Fingers know what I'm talking about. They view stock trading as a sport.
In fact, stock trading is a sport. Much more than, say, hunting. Think about it. In a sport, two equal opponents square off against one another. "Let the best one one win." Each faces the same challenges. Each is armed with the same weapons. Each has an equal chance of feeling the thrill of victory and the agony of defeat (unless, of course, you happen to be the Tampa Bay Devil Rays).
Imagine the play-by-play if hunting truly was a sport: "Man is closing in. He's coming up from behind and rounding to the south side. He's raising his rifle. Deer doesn't even appear to notice. Oh, I can't watch. This is going to be a massacre. Wait! Deer has just bucked up and twisted. He spins around a tree, and -- look! Deer has a rifle too. He aims. He shoots! He Kills!!! Man is down. What an upset, ladies and gentlemen."
In real life, Deer doesn't win very often. In fact, I estimate that Man is about 4.3 gazillion times more likely to be defeated by his own team mate than by the opposition. We call this "friendly fire".
Contrast this to Itchy Trading Finger, who stands an equal chance of striking gold or of moving into a cardboard box on the street corner. The stock market truly is sport, for those who choose to treat it that way. Which is why it is so important to put aside -- in safe, secure investments -- the money you feel you need for your future. That way, when Itchy Trading Fingers retire, they can move out of the cardboard box.
For the rest of us, we are happier getting our sport watching monster trucks crush WWF actors. Oops! There I go again, mixing my sports and my metaphors, not to mention ignoring several federal safety standards. May your investments be safer than my WWF friends, and may you sleep well at night.
About The Author
David Leonhardt is The Happy Guy. He is an energetic motivational speaker and author of Climb Your Stairway to Heaven: the 9 habits of maximum happiness. Visit him at
![]() Google News Updated : Fri, 05 Sep 2008 08:05:30 GMT Arthritis Drugs Linked to Risks From Infection - New York Times
New York Times - By AP WASHINGTON (AP) - The Food and Drug Administration ordered stronger warnings Thursday on four medications widely used to treat rheumatoid arthritis and other serious illnesses, saying they can raise the risk of possibly fatal fungal infections. Deaths Heighten Arthritis Drugs Warning Nation Digest 4 arthritis drugs get tougher warnings Publ.Date : Fri, 05 Sep 2008 01:38:34 GMT Kilpatrick's rise and fall - Detroit Free Press
Detroit Free Press - BY BILL McGRAW • FREE PRESS STAFF WRITER • September 5, 2008 Kwame Kilpatrick entered the mayor's office with extraordinary gifts -- charisma, savvy, flair, pedigree, connections, ambition and chutzpah -- everything a 31-year-old needed to make a ... Video: A Timeline of Detroit Mayor's Text Scandal Detroit’s Mayor Will Leave Office and Go to Jail Publ.Date : Fri, 05 Sep 2008 07:27:50 GMT UN warns of Haiti flooding crisis - BBC News
BBC News - Several hundred thousand people need help in Haiti, which is suffering severe flooding after being hit by a series of tropical storms, the UN says. Attempts to Aid Desperate Haitians Hindered by Floodwaters Storms line up to slam western Atlantic, southeastern US Publ.Date : Fri, 05 Sep 2008 07:05:26 GMT Jesse Jackson hospitalized for stomach pains - Chicago Tribune
Chicago Tribune - By Jeremy Gorner | Chicago Tribune reporter Rev. Jesse Jackson was being treated Thursday in Northwestern Memorial Hospital in Chicago after falling ill. Video: Rev. Jesse Jackson Hospitalized Jesse Jackson hospitalized after stomach pains Publ.Date : Fri, 05 Sep 2008 07:00:48 GMT Tropical Storm Hanna aiming for Massachusetts - Boston Globe
Boston Globe - By Andrew Ryan and Martin Finucane, Globe Staff Tropical Storm Hanna is expected to churn up the Atlantic coast and lash Massachusetts this weekend with winds gusting up to 50 mph near the coast and up to four inches of rain. Video: Hanna Nears US, but Stronger Ike Looms Area departments gearing up for Hanna's arrival Publ.Date : Fri, 05 Sep 2008 04:23:14 GMT Stocks: A Terrible Thursday - BusinessWeek
BusinessWeek - Major US indexes each tumbled nearly 3% as worries intensified over the health of the economy. All eyes are on Friday's jobs report Market players were probably wondering Thursday why they bothered to come back from their summer vacations. Stocks Are Broadly Lower Tracking Falls on Wall Street Stocks slide on economic worries Publ.Date : Fri, 05 Sep 2008 05:53:27 GMT House committee widens probe of Vytorin safety - International Herald Tribune
International Herald Tribune - AP TRENTON, NJ: A House committee investigating the safety and effectiveness of the popular cholesterol drug Vytorin and one of its components is turning up the heat on the drug's makers. Many Questions About Vytorin Drug Scare Shenanigans Publ.Date : Fri, 05 Sep 2008 00:32:18 GMT Increase Search Engine Traffic |
PARLOT::Ebooks, Scripts,
Websites, and more... Sometimes you spend sleepless nights worrying about which stocks to... Read More "The American Age of Inflation is finished." So says economist... Read More The word 'investments' is one that most of us are... Read More Tropical Storm Arlene formed as a tropical depression on June... Read More The following perspective on (day) trading comes from my many... Read More Financial Spread Betting (or Trading) offers a tax free method... Read More Here are some useful tips on investing. When you make... Read More Do you ever feel like you haven't been told the... Read More My paternal grandparents were born near Lake Como, Italy. My... Read More "To drift is to be in hell, to be in... Read More Convertibles are stealing the show with their safe investment image... Read More When you start your program to purchase your "ideal" company,... Read More I said last week that money doesn't generally buy happiness,... Read More If you're like many people, your retirement savings have not... Read More CATCHING A FALLING KNIFEOne of the most common mistakes made... Read More Let's start by saying: You can't be afraid to take... Read More Okay, so I can tell you I have sat in... Read More The syntax is tortured, the grammar mutilated, but the message... Read More While it is rather rare that value gurus sell stocks... Read More Discipline can be simply defined as your ability to follow... Read More An option is a derivative trading product that is best... Read More If you want to make the most of your personal... Read More Of the 75 million baby boomers nearing retirement today, many... Read More One among many ways you lose money in non-indexed mutual... Read More Strong credit saves real estate investors money on mortgage finance... Read More
Adsense
websites
Investing and Asset Allocation
The American Age of Inflation is Over
Types of Investment
July 2005: Hurricane Forecasts for Weather Traders
A Secret Revealed: Why Most (Day) Traders Fail
The Basics of Tax-Free UK Financial Spread Betting
Useful Tips on Investing
Annuity Investment - The Whole Truth
The Three Legged Stool
How to Terror-Proof Your Money
The Convertible Craze Brightens The Future Of Equities
25 Ways to Find Companies to Buy
Investing As A Sport?
Retirement is Never Urgent Until
Effective Advice For A New Generation of Investors
Stock Market Money Management Skills
Annuity Owner Mistakes
Begging Your Trust in Africa
Guru Focused: Robert Olstein?s Short Sells
Discipline in Investing and Trading
Critical Options Investing Tip When Trading Naked Calls and Puts
An Investment Real Estate Strategy Unknown To Most Is A Negative Amortization Loan
Retirement Is A Scary Proposition If Youre Without A Plan, And Running Out Of Time
Caveat Emptor: You May Owe Taxes Despite 401(K) Losses!
Credit Scores = ROI Profits for Real Estate Investors
Many people today are looking for annuity help. The biggest... Read More
Everyone knows that the Holy Grail of investing and trading... Read More
There has been much talk lately about Coca-Cola and its... Read More
We've helped a number of clients develop business plans and... Read More
The one thing I can think of that most affects... Read More
Shorts. Let's see. If there are shorts there must be... Read More
What are Bonds?A bond is a debt security, by which... Read More
You hear it over and over and over in books,... Read More
There are many different ways to invest in world markets:... Read More
Agonizing displays of poor theatrics failed to entertain my mind... Read More
Investors are still too slowly realizing what the academics have... Read More
Today, I am going to start a multi-part series about... Read More
Rolling is defined in options online trading as moving a... Read More
Stock trading strategies are as rampant today, as they were... Read More
Unfortunately, many investors who are seduced by the lure of... Read More
You may like your financial advisor, but is he really... Read More
There is a lot to know about investing. It all... Read More
One of the fundamental principles of finance is the concept... Read More
The Light Crude Continuous Contract closed at $66.13 a barrel... Read More
Investors are always looking for the best investments that will... Read More
FOREX, the term for the FOReign EXchange market, is an... Read More
To understand stock options, we need to look at Webster’s... Read More
I've been involved in online trading, specifically with stock and... Read More
For most people, there is a direct correlation between how... Read More
You don't HAVE to be trading.As a novice trader, you'll... Read More
Investing |