Premium Essay

Rich

In: Business and Management

Submitted By nubby24
Words 473
Pages 2
Memorandum April 12, 2012

-------------------------------------------------
SUBJECT: Smart Couples Finish Rich Analysis
Mr.
I would like to follow up with your inquiry made during last week’s meeting regarding David Bach’s Smart Couples Finish Rich. I have since completed reading the book and will present and discuss several of the author’s major insights which I believe will be most beneficial to you.
Bach presents the content of his book in a 9 step process which results in a financially successful future for couples. The book is part personal finance and part relationship counselor. It discusses how money can often be the root of many arguments for couples and how to avoid this problem by working towards a financially secure future together. I will discuss the following the three most important points in Bach’s book and why they can be so valuable to implement into your life: * Be open with your partner with regards to finances and work towards goals together * Small frivolous spending is what keeps many from becoming rich * Start early in building your retirement fund
An early step in Bach’s process is “Plan Together… Win Together” long term planning with your spouse and developing a system which you can assess your goals. This entails keeping track of financials and establishing a common ground between the couple. This is very important so you can establish a benchmark system so both spouses can work together in accomplishing their set goals.
One of the easiest ways which you can prevent yourself accomplishing your financial goals is by frivolous spending. Bach uses the example of a latte to show how seemingly miniscule purchases can add up and have a large effect on your financial health. Bach recommends recording all of these purchases in a single week (both

Similar Documents

Premium Essay

Rich Girl

...Na, na, na, na, na, na, na, na, na, na, na, na Na, na, na, na, na, na, na, na, na, na, na, na Na, na, na, na, na, na, na, na, na, na, na, na Na, na, na, na, na, na, na, na, na, na, na, na If I was a rich girl (na, na) See, I'd have all the money in the world, if I was a wealthy girl No man could test me, impress me, my cash flow would never ever end Cause I'd have all the money in the world, if I was a wealthy girl Think what that money could bring I'd buy everything Clean out Vivienne Westwood In my Galliano gown No, wouldn't just have one hood A Hollywood mansion if I could Please book me first-class to my fancy house in London town All the riches baby, won't mean anything All the riches baby, won't bring what your love can bring All the riches baby, won't mean anything Don't need no other baby Your lovin' is better than gold, and I know If I was rich girl (na, na) See, I'd have all the money in the world, if I was a wealthy girl No man could test me, impress me, my cash flow would never ever end Cause I'd have all the money in the world, if I was a wealthy girl I'd get me four Harajuku girls to (uh huh) Inspire me and they'd come to my rescue I'd dress them wicked, I'd give them names (yeah) Love, angel, music, baby Hurry up and come and save me All the riches baby, won't mean anything All the riches baby, won't bring what your love can bring All the riches baby, won't mean anything Don't need no other baby Your lovin' is better than gold, and...

Words: 565 - Pages: 3

Free Essay

Rich Dad, Poor Dad

...Kiyosaki was taught that financial intelligence is the way to be rich. People today are desire money and are afraid of not having money; they spend their lives working for money. Kiyosaki says we need to have money work for us. Kiyosaki wanted to grow up not having to live in the “rat race”. He wanted to be able to go where he wanted to go, do the things he wanted to do, to not have anything holding him down, and that is why he strived to become “rich”. This book is for of guide lines that Kiyosaki used or experienced and he wants others to learn from. The first chapter Rich Dad Poor Dad is where Kiyosaki introduces his two fathers. He says, “one was highly educated and intelligent;… [and the other] never finished the eighth grade.” Both his fathers were strong and influential, and both were successful in their careers; but one struggled financially all his life and the other became one of the richest men in Hawaii. Kiyosaki was glad to have two fathers to learn from learned from. He was able to see the point of view of both the poor and the rich. Even though the time he started learning from them when he was nine years-old the rich dad was not yet rich and the poor dad not yet poor. At the age of nine Kiyosaki started listening to his rich dad. Rich dad taught six main lessons. The second chapter was the first lesson, The Rich Don’t Work for Money. Kiyosaki asked both dads if they could teach him how to get rich. Poor dad, Kiyosaki’s dad, responded that you need to make money...

Words: 1629 - Pages: 7

Free Essay

Rich Dad Poor Dad

...Throughout the history of man, every person has had the same question. How can I become rich? Some may deny the want and for some even need to become rich, but there is no denying it. At some point we all fantasize about what would happen if one was to win the lottery of inherit a large sum of money. Wouldn’t that be great! I’m sure if you asked these same people what they would do with the money one they acquired it you would begin to see a trend; new car, new house or maybe even a boat! From only a select few would you hear a response such as stocks, bonds or real estate. These select few are the ones who will truly be rich someday. The vast majority of the population will spend countless hours online, in the library and talking to others with similar ideas of their latest and greatest “get rich quick” scheme. If only they would put the same effort into actually learning keys to success and reading literature that is actually worth the time you put into it more people would end up living how they always dreamed. For many, that’s all being rich will ever be, a dream. But then there are those who see no other option; they read books, take classes and immerse themselves in knowledge to try and gain an upper hand but even out of these few there are even less that will actually succeed in actually fulfilling their dream of becoming rich. However, there is hope, but only if you put in the work. The book Rich Dad, Poor Dad by Robert T. Kiyosaki is a great place to start. It provides a solid...

Words: 1044 - Pages: 5

Free Essay

Rich Internet Application

...weak firewall protection. This gives way to hackers who gain access to databases containing sensitive data like credit card information, social security information, phone numbers, and even home addresses. A virus can be used to bring the entire online business down for minutes, hours, and days causing a huge loss. Businesses need extra security to protect critical personal information of customers in order to gain customer faith and loyalty. There are many limitations of web as well such incompatibility of web apps with native apps in many areas, limited access to smartphone hardware making simple tasks like saving photos more difficult, and same app may look different across different browsers confusing mainly the older generation, etc. Rich Internet Application (RIA) is a web application offering pleasing experience that leads to user satisfaction and increases productivity. Using the broad reach of the internet, RIAs can be deployed across different browsers and devices. Typically, An RIA runs inside a web browser and thus does not require the hassle of installing software thus making it user friendly. It offers organization with...

Words: 842 - Pages: 4

Premium Essay

Rich Dad Poor Dad Reflection

...Verania, Angelica M. BSA 2-10 ECON 2013 Prof. Aileen Camba “Rich Dad Poor Dad” Summary Robert Kiyosaki has two fathers, one is his poor dad and the other one is his rich dad. His educated dad whom he calls his poor dad is his biological father and his rich dad is Mike‟s, his best friend, father. Both have their own perspective about money and both have different principles in life. As a kid, Robert wanted to know how to get rich because they were tired of other kids not wanting to play with them because they were 'poor kids'. His educated dad told him to learn how to make money. Since he was still a kid that time, he and his best friend Mike came up with a plan of literally making their own money. His educated dad and suggested to seek for Mike‟s father, his rich dad, help because he, himself, doesn‟t know how to make money. This is the start of their journey to becoming rich. There are 6 lessons that are emphasized in this book. Lesson #1: The Rich Don‟t Work for Money Lesson #2: Why Teach Financial Literacy? Lesson #3: Mind Your Own Business Lesson #4: The History of Taxes and the Power of Corporations Lesson #5: The Rich Invent Money Lesson #6: Work to Learn – Don‟t Work for Money The Rich Don’t Work for Money This chapter shows why the poor and middle class don‟t get rich. It is because they keep on working for money, fear and greed cause ignorance and poverty. We were taught of getting a secure and safe job meaning, working for money. Their fear of having no money...

Words: 2986 - Pages: 12

Premium Essay

Rich Dad Poor Dad Summary

...Rich Dad, Poor Dad is the story of author Robert Kiyosaki's upbringing and his two fathers, one rich father (not biological) and one poor father (biological). He was forced to choose between following in the footsteps of his poor father – a highly educated government worker – or his rich father – an entrepreneur who never graduated high school. In the end he decided to learn from his rich dad.The book focuses mostly on the education and financial advice Kiyosaki learned from his rich dad. His rich father was able to create a multi-million dollar empire from virtually nothing, using his financial knowledge and the power of his imagination. The book gives basic lessons which combine the teachings of Kiyosaki's rich dad with experiences from his own life.One of which is the importance of improving your financial IQ and financial literacy,(skills the author believes is absent from the current education system). The book also shows how the rich don't work for money, they make money work for them. They acquire assets rather than liabilities. The author emphasises the importance of being able to differentiate between an asset and a liability. He states that in order to be truly wealthy, your asset must be large enough to offset your living expenses. He explained about the misconception of a high income meaning wealth, but in reality a strong asset column is what is needed. Higher incomes often lead to higher expenses, higher taxes, and more debt. The author (Kiyosaki) eliminates...

Words: 321 - Pages: 2

Free Essay

Rich Dad Poor Dad Chapter Summary

...Chapter 4 of Rich Dad Poor Dad, by Robert Kiyosaki, continues to reinforce the idea that the rich and the poor think differently. In chapter four, titled “The History of Taxes and the Power of Corporations,” Mr. Kiyosaki discusses the power of the corporation, and how the rich have learned to use the corporation to hide their money. Through a variety of charts he shows how the cash flows through business versus how cash flows through the poor and middle class. Corporations spend their money and then pay taxes on what is left, where the poor pay taxes and they what is left they spend on other things. Robert continues to drill the idea of developing your financial IQ in order to break the rat race and escape the machine that sucks you into the work force. He says being ignorant gets you bullied, and if you were to learn you may stand a chance. Robert actually wrote an entire book on raising your financial IQ, although I think you would be better off going through a professional educator, he makes several good points in the book. One point that I like from this chapter, and actually is driven home by this current election campaign, is the idea that the more you tax the rich, the less willing they will be to create jobs. For the 2012 election, you have one candidate that wants to bring down taxes on the rich so they create more jobs, and in turn, return more money to the government in taxes. The other candidate wants to increase taxes on the rich, which will make the rich just find...

Words: 327 - Pages: 2

Free Essay

Rich

...Taiwan and the Competition for Diplomatic Recognition TIMOTHY S. RICH Diplomatic recognition is generally seen as fundamental to the modern state system. The traditional views of recognition however focus almost exclusively on political or ideological rationales, ignoring other foundations on which other countries base establishing diplomatic recognition. Focusing on the Republic of China (Taiwan) suggests a more complicated view where economic self-interest on one side and national pride on the other may undermine traditional conceptions of recognition. Using the ROC-PRC diplomatic battle as a case study, this paper hopes to shed light on two questions: why, despite the PRC's rise as a global power, a country would continue to formally recognize the ROC and secondly what does the ROC receive in exchange for such high-cost endeavors to maintain recognition. In this case mutual ideological rationales have greatly diminished while I contend that economic factors have predominantly maintained this diplomatic battle. In addition, previous research often focuses on major world powers granting or withholding formal recognition to smaller states. In this situation, poor countries with typically little political influence are the major players, suggesting different rationales behind recognition. Methodologically, this paper blends qualitative and quantitative analysis to uncover factors affecting recogni- T IMOTHY S. RICH is a doctoral student in political science at the Indiana University...

Words: 6627 - Pages: 27

Premium Essay

Rich

...How to become rich As I remember there is a pop song “I want to be a billionaire so freaking bad, buy all of the things I never had”, this melody still stick in my head all the time. How to become rich? I ask myself this question every day. Become rich has different meanings for different people. The term rich can also be applied to the accumulation of other things besides wealth. Things like good health, close relationships with family and friends, a rewarding career, and enjoyable hobbies can make people feel rich as well. Of Course everybody dreams to being rich, who wouldn’t, but being rich in wealth without being rich in life would in my opinion to be pointless. Being in good health allows a person to enjoy life with or without having money. Not having to go to the doctor constantly for things such as heart trouble, diabetes, depression, or arthritis is a blessing. When we can be mobile without pain to do even the simplest of things, this allows us to live an enjoyable life. I could be a person without the convenience of monetary value and have a wonderful family and friends to share my life with that would make me rich in life. No one can put a price on having a family that is there for you through good times and bad. When the time comes that you need a shoulder to lean on or someone to just listen to you vent, nothing beats family and friends. True friends will always pick you up when you fall or stumble, share secrets with you, and they will be the first to give you...

Words: 293 - Pages: 2

Premium Essay

The Definition of Rich

...Definition of Rich I used to envy someone who was wearing luxury clothes with an expensive purse on the street. I used to think that being rich means having a lot of money to buy everything I want, so my definition of rich was only about money. Even though I asked some of my friends, “what you think about the definition of rich,” their thoughts were just like mine. Being rich means not worrying about finances and doing what they really want to do. However, my mother gave me a different definition of rich. She let me know what rich really is. She told me, “Being rich is not too much about the income. It’s about what we have owned in our lives.” In other words, it has more to do with quality of life. My mind woke suddenly with a start when I heard what my mother said. I used to comprehend only the superficial meaning of rich. I realized that I was wrong. The underlying meaning is our lives. Therefore, the definition of rich that my mother told me has helped me realize I shouldn’t only pursue money if my goal is to be rich. I should cherish and care about what I have owned today. It’s like my family, my friends, and my campus life. These are all my wealth. Also, I have been learning something new to enrich my mind. If we can stay with someone that is important to us and enrich the inside of our mind, we can say we are rich no matter how much money we have owned. I don’t think many people can accept my mother’s definition of rich. My mother told me that she explained rich in this way...

Words: 914 - Pages: 4

Free Essay

Rich Girl

...Strayer University ENG 115 Professor: January 15, 2016 “Facing Poverty with a rich girl’s habits” Identify the source (writer and title of essay) and state his or her most important point in your own words. The title of the essay was, “Facing Poverty with a rich girl’s habits” written by Suki Kim. Suki main point of the essay was to explain to her readers that she had experienced some challenges adapting to the beliefs and cultures living in America, versus living in Korea. Summarize the other main points and their supporting details in separate paragraphs. “I thought because in South Korea I had been raised in a hilltop mansion with an orchard and a pond and peacocks until I entered the seventh grade, when my millionaire father lost everything overnight (Suki Kim).” Another main point that Suki was trying to make was challenging accepting a new way of living compared to how she was raised to living in Korea. Also Suki, felt it was important for the audience to know that the way she looked at life had changed since she moved from Korea. Finally, a point of the essay was that she was still the same person and that her culture and beliefs did have to change because she lived in a different part of the world. Discuss the (1) writer’s purpose, (2) genre, (3) audience, and (4) tone (attitude), The writer’s purpose would to tell her audience how she adjusted to life as a rich girl to living in poverty barely making ends meet. Suki’s genre could be classified...

Words: 511 - Pages: 3

Premium Essay

Rich Manufacturing

...Rich Manufacturing Gordon Perkes Why do many firms use cost-plus pricing for supply contracts? Cost-plus pricing is a pricing method used by companies to maximize their rate of returns. It is also known as markup pricing. Many firms use cost-plus pricing because it is one of the more common methods of pricing. “Firms that use this technique calculate average total cost and then mark up the price to yield a target rate of return”. I would say the biggest reason for cost-plus pricing is that it guarantees a profit. Even if the price of the part was reduced, it is built in so that a profit would be made. Unit cost = variable cost + (fixed costs/unit sales) What potential problems do you envision with cost-plus pricing? Even though cost-plus pricing guarantees a profit, it can be very ineffective. It does not take into consideration what the consumer is doing, nor its competition. If a firm agrees to pay cost-plus pricing, they are guaranteeing a profit to the vendor no matter how the company is managed. By keeping this pricing model it does not give the vendor any incentive to maximize its production, because it is already guaranteed a profit. It is actually taking away from the customer. What is being done with the money between what the customer is paying and the return the vendor is making? It brings up the question, is this benefiting the customer in the best way possible? Should Gina contest the price increase? Explain. After proper research I feel that Gina...

Words: 610 - Pages: 3

Free Essay

Rich Picture

...Rich Picture The Rich Picture is a technique used in industry to understand the problem areas within Complex Information Systems. It is an unstructured way of capturing information flows, communication and, in essence, human activity. Including both the internal and external influences upon Ford. This enables management to understand how the business currently operates and helps identify problems areas. Currently Fords main problems areas are in * Customer buying habits are changing, do customers want a platform to be able to purchase and customise a car online. Currently ford does offer online customisation however consumers are still not able to buy a car online. * Another main problem area is regulation- as ford sell cars all around the world they have different taxes and regulations to abide to. * Threat of new entrants: self driving cars- people asked about automous self driving cars in the future, -ford suggested that they wouldn’t want to be the first mover as it is complex and could potentially have severe consequences. And in the current situation in the market there is more money in the current market.- maybe just focus on what they are good at. * Production is carried out all around the world therefore production is reliant upon many suppliers therefore if for any reason a supplier goes bankrupt this could have on-going consequences throughout the production process NEXT WE WILL LOOK AT THE WORK SYSTEM SNAPSHOT FOR FORDS CURRENT...

Words: 503 - Pages: 3

Premium Essay

Ms Rich

...rich The guidelines for system development The Standards consist of development phases, steps and outputs. There are eight phases, each one with multiple steps, which in turn may have one, or several, outputs. While these are presented in a certain order, outputs are not necessarily completed in this sequence. Once projects are approved, Project Managers select the appropriate documentation for each project, using the Checklist for System Development Life Cycle Standards, reproduced at the end of the Introduction. The Checklist enumerates all development phases, steps and outputs. Project Managers select, record and obtain management approval for which documents they anticipate using, and the brief rationale for not selecting others. Each output description contains the purpose of the output, its recommended content, and the recommended techniques and tools. Many of the outputs have samples that show how they have been applied. Other documentation is acceptable as long as it provides the essential elements contained in the output and its name and number are referenced. The Standards are most useful when employed as an organizing device for outputs that may include records, agreements, discussions, minutes of meetings, use of samples, etc. Any information in funding applications or from other sources could be used in the SDLCS Outputs as long as the information provides the essential elements contained in the output and the output’s name and number are referenced. The listing...

Words: 460 - Pages: 2

Free Essay

Are the Rich Happy

...Are the rich happy? Sasha Winther 2.p – Solrød Gymnasium Stephen Leacock’s literary achievement is largely in the mastery of the comic sketch. He has written a collection of short pieces that are unrelated to each other. He writes styling is miniaturist, and his focus is on the small details. The subject he usually writes about, are extensive, but usually appeals to the average man. The humor is a form of frustration or mild victimization, in this case the rich man’s sadness over the resignation of his butler. ’’Are the rich happy?’’ is written by Stephen Leacock, 1916. It is from the collection Further Foolishness: Sketches and Satires on the Follies of the Day. The text has an episodic structure, and there is a lot of narration. He tells a story of his encounters with people he thought to be rich. He sarcastically tells the story using vague descriptive language. The descriptions are unclear, one cannot see or feel, but it is easy to understand who he is talking about, their expressions, and their lifestyles. He makes a clear comparison between the rich and the poor. In his text he speaks of a man who makes fifty thousand dollars a year and has told him that it is impossible to keep up with the rich and that it is better to accept the fact of being poor. He describes how a man can only give him a plain meal that he calls a home dinner, but that it takes three men and two women to serve it. Stephen Leacock shows his opinion by using sarcasm. It is the irony and the...

Words: 601 - Pages: 3