Daily Links: Health, Investing, and Disasters
Published on - May 26th, 2009 (Modified on - May 29th, 2009) (by J.D. Roth) I had a colonoscopy today. Though 40 is young to elect to have this procedure, my family has a history of cancer (including some colon cancer). The older I get, the more I come to understand how important my health is. I used to say that your career is your most important asset. It’s not. Your health is. And so I’m becoming more concerned with preventive measures. They’ll save me money in the long run — and they’ll keep me alive!
Now that this procedure is out of the way, I’m ready to return to this blog full-time. I feel like I’ve been out of the loop lately, and that’s no fun. To begin with, here are some interesting stories from around the web:
First up, check out the latest episode of the Consumerism Commentary podast from my pal Flexo. He and Tom Dziubek interviewed me recently about pursuing passions. It was a fun conversation. (Also, the second part of my interview with the Seattle Post-Intelligencer is up. Part one here.)
Earlier today I published a guest post that encouraged you to be more involved in your financial planning. I think this is great advice, but all the same, there are circumstances for which it makes sense to hire a professional. A recent Forbes article makes the argument (that I don’t agree with, by the way) that most investors should hire professionals to run their portfolios: “The average investor shouldn’t be managing their own money but, instead, farming it out to professionals who are going to be focused 100% of the time.” My advice? Do what works for you.
Elsewhere, a recent issue of Time featured an interview with Martin Lindstrom about how shoppers make decisions in a recession. “Consumers still do have money — at least many do — but the reason that they’re not spending it is because they’re afraid they may lose the money in the future,” Lindstrom says. “So companies are trying to find the triggers they have to pull on in order to make people feel comfortable about spending money.” You know how much I like stories about the psychology of money! I’ll have to read Lindstrom’s book.
Finally, Trent at The Simple Dollar has pulled together a great post on a subject I’ve been meaning to write about for months: preparing your information for disaster. What info do you need to gather and why? What about an emergency plan? And how should you store it? Trent’s system is similar to the one I’ve devised for myself.
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This article is about Spare Change
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I do not envy your last 48 hours.
Also, just noticed that you re-added # of comments near the titles of the posts. Thanks!
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According to Mr. Lindstrom consumers that do have money are reluctant to spend it because they fear losing it in the future.
But the irony is that if high inflation starts to rear its ugly head, as I believe it surely will within the next year or two, those same consumers are actually at risk of “losing” money by not spending it (via the reduced purchasing power that comes with the declining value of the dollar.)
My $0.02 (after taxes)
Len
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I also agree with you and disagree with Forbes on the notion that most investors should hire a professional because “they will be focused 100% of the time.” Personally, if I were to hire a professional, I’d be more concerned with their track record, intelligence and whether or not I could trust them. Furthermore, the time that the professional dedicates to each customer’s account is likely closely correlated to the amount of business they provide the professional.
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Actually there are studies suggesting that people who are unhealthy spend less on health care, and are a lower burden on the health care system than healthy people. It is much cheaper to croak due to a sudden heart attack at age 60, than to suffer a long death at age 90 due Alzheimer’s and certain types of cancer which are unpreventable once you reach a certain age. Unhealthy people have all bitten the dust before they can get the expensive diseases!
c.f. http://www.plosmedicine.org/article/info:doi/10.1371/journal.pmed.0050029
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Thanks for mentioning the podcast. I think we had a great discussion.
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Better safe, than sorry– you did the right thing JD!
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congratulations on the colonoscopy! When I turned 50 and had my first one, I went around telling everyone “not as bad as you think! And, I still think it’s a great idea for everyone; colon cancer is deadly if not caught early, and yet very treatable when caught early, so, if there’s this very safe screening method, go for it! But, be sure your hospital has good standards in place and lots of experience with the testing.
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@Elisabeth (#7)
Yeah, this was totally not as bad as I had feared. I had heard horror stories, but even the prep wasn’t terrible.
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Hey–
I clicked into your blog from the Wesabe redesign site. So far, I like it! I’m super frugal, so I like reading finance-themed blogs.
I’m also a professional editor, so I hate to see smart people make dumb grammar mistakes or use the wrong word.
It’s “preventive” measures. Preventative is a noun, while preventive would be the correct term to use.
There are a few other zingers, but consider hiring a sharp, eagle-eyed copy editor who can add some mechanical style and convention to your blog — especially if you’re launching into the big leagues.
Don’t make the mistake of other professional bloggers, who are indifferent to grammar and opt instead for a breezy conversational style, thinking it makes the writing more inviting.
If you’re like, “whatever: this-is-my-blog,” that’s cool, too.
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