Comments on: Financial Serenity – The Missing Ingredient http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/ Common sense advice on money saving tips, how to get out of debt, high interest savings accounts, cd rates, money market accounts, mortgage rates, money management and more. Wed, 19 Jun 2013 01:27:38 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: katy http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-190425 katy Sat, 08 Aug 2009 01:13:27 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-190425 Greaaaat post. FWIW, Neal gets my vote JD. Greaaaat post. FWIW, Neal gets my vote JD.

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]]> By: Maria http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186301 Maria Wed, 08 Jul 2009 19:34:46 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186301 This is very good article. It gives loads of useful and a must guide for everyone, especially now that our economy is struggling. It is also very true that we must all accept the things that we cannot change or maybe we cannot change right away, but it is also advisable that within this unchangeable things, we must also act to make ourselves more ready, ready to accept these things and be ready for the consequences these will bring us and the people around us. To fire ourselves is one of the best guide that we can follow, this is something that we should all try to do. One more good thing about this article is that it shows us a step by step guide to find our financial serenity. We must all learn from the things changeable and unchangeable and after the learning, comes the action. This is very good article. It gives loads of useful and a must guide for everyone, especially now that our economy is struggling.

It is also very true that we must all accept the things that we cannot change or maybe we cannot change right away, but it is also advisable that within this unchangeable things, we must also act to make ourselves more ready, ready to accept these things and be ready for the consequences these will bring us and the people around us.

To fire ourselves is one of the best guide that we can follow, this is something that we should all try to do.

One more good thing about this article is that it shows us a step by step guide to find our financial serenity.

We must all learn from the things changeable and unchangeable and after the learning, comes the action.

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]]> By: Jessica http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186084 Jessica Mon, 06 Jul 2009 16:05:16 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186084 Ive tried the "firing" myself technique but in my case, it just doesnt work well. No one is ever going to hold me to the level that I feel like I need to be at. Instead I have just grown used to the fact, that worrying about cash is just a way of life for me. I managed to get myself out of debt once and I will eventually get DH and I out of it as well. He has realized that I will forever be a financial nerd and do the numbers constantly. The one upside of it though, I finally decided to make a career out of it. I am going back to school for my MBA in finance and will pursue a career once Ive graduated. I am using my companies education program to do it so I will be able to minimize my out of pocket cost for the program. Ive tried the “firing” myself technique but in my case, it just doesnt work well. No one is ever going to hold me to the level that I feel like I need to be at.
Instead I have just grown used to the fact, that worrying about cash is just a way of life for me. I managed to get myself out of debt once and I will eventually get DH and I out of it as well. He has realized that I will forever be a financial nerd and do the numbers constantly. The one upside of it though, I finally decided to make a career out of it. I am going back to school for my MBA in finance and will pursue a career once Ive graduated. I am using my companies education program to do it so I will be able to minimize my out of pocket cost for the program.

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]]> By: Beth http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186080 Beth Mon, 06 Jul 2009 15:16:18 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186080 Neal: THANK YOU! Every time I hear the title of Ferriss's book I cringe. (Don't think it's possible in the line of work I'm in). I think I need to write the Serenity Prayer in big letters across my wall :) Neal: THANK YOU! Every time I hear the title of Ferriss’s book I cringe. (Don’t think it’s possible in the line of work I’m in).

I think I need to write the Serenity Prayer in big letters across my wall :)

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]]> By: Aniruddha http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186061 Aniruddha Mon, 06 Jul 2009 12:52:49 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186061 Very true, nice post Neal :) Very true, nice post Neal :)

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]]> By: Kevin http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186060 Kevin Mon, 06 Jul 2009 12:43:09 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186060 @Bulldog Gin (#7): "I will continue to fire myself every year by locking up all my bonus money. The amount is generally $100-250,000/yr AFTER TAX believe it or not." I think it's pretty obvious we don't believe it. Real live rich people don't feel a need to constantly tell everyone else how rich they are. "By locking up my money, i’m guaranteed my 4-5% /annum return." Please tell us where we can find CD's paying 5% guaranteed. This claim is about as credible as your boasting about your quarter-million dollar bonuses, while still having enough time to spam PF blogs 24/7. @Bulldog Gin (#7):

“I will continue to fire myself every year by locking up all my bonus money. The amount is generally $100-250,000/yr AFTER TAX believe it or not.”

I think it’s pretty obvious we don’t believe it.

Real live rich people don’t feel a need to constantly tell everyone else how rich they are.

“By locking up my money, i’m guaranteed my 4-5% /annum return.”

Please tell us where we can find CD’s paying 5% guaranteed. This claim is about as credible as your boasting about your quarter-million dollar bonuses, while still having enough time to spam PF blogs 24/7.

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]]> By: DDFD at DivorcedDadFrugalDad http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186046 DDFD at DivorcedDadFrugalDad Mon, 06 Jul 2009 04:58:23 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186046 Solid advice. Balance and moderation are key. Change takes time, but we all have the power to make change. The key is WE have to make the changes . . . Solid advice. Balance and moderation are key. Change takes time, but we all have the power to make change. The key is WE have to make the changes . . .

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]]> By: Beckie http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186040 Beckie Mon, 06 Jul 2009 02:14:01 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186040 Thanks for the excellent and timely advice - sometimes we really do need a reminder to get off the couch and act on the things that we know how to change. Thanks for the excellent and timely advice – sometimes we really do need a reminder to get off the couch and act on the things that we know how to change.

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]]> By: AT http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186037 AT Mon, 06 Jul 2009 01:09:57 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186037 "Serenity now... insanity later" - Lloyd Braun “Serenity now… insanity later” – Lloyd Braun

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]]> By: J.D. http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186035 J.D. Mon, 06 Jul 2009 00:42:52 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186035 @Ben (#14) Thanks for pointing out that Bulldog was linking in every comment. This is not acceptable at GRS, and I've removed links from past comments. It's fine to link to your own site if you're linking to something DIRECTLY related to the discussion, but gratuitous links are not allowed. @Ben (#14)

Thanks for pointing out that Bulldog was linking in every comment. This is not acceptable at GRS, and I’ve removed links from past comments. It’s fine to link to your own site if you’re linking to something DIRECTLY related to the discussion, but gratuitous links are not allowed.

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]]> By: Ben http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186030 Ben Sun, 05 Jul 2009 23:45:31 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186030 Hey Bulldog Gin Co....why don't you stop trying to hack your crappy wares on this website. People come here to read about financial advice, not hear about how much money you supposedly made every time you post. Read the blogpost, comment on it, and stop posting your link to whatever scam you have going on. Hey Bulldog Gin Co….why don’t you stop trying to hack your crappy wares on this website. People come here to read about financial advice, not hear about how much money you supposedly made every time you post. Read the blogpost, comment on it, and stop posting your link to whatever scam you have going on.

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]]> By: Joey http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186029 Joey Sun, 05 Jul 2009 23:40:40 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186029 The idea that FF/FI will bring freedom from worry is one oft-repeated in PF blogs. Inevitably, most people who worry about money before reaching FI continue to worry about it afterward; they just start worrying about losing it instead of making it. The idea that FF/FI will bring freedom from worry is one oft-repeated in PF blogs. Inevitably, most people who worry about money before reaching FI continue to worry about it afterward; they just start worrying about losing it instead of making it.

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]]> By: MoneyEnergy http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186022 MoneyEnergy Sun, 05 Jul 2009 20:41:47 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186022 Excellent post, just like Neal's other writing. I like the idea of "firing yourself" if you're just getting in the way of your own progress. The way someone else put it which resonated with me is that he was becoming the victim of his own excesses. And excesses aren't just the extremes of bad behaviours, they are extremes of otherwise good moves, too - like trying to stay focused or organized. I also think Neal has an excellent point about the fact that we already "know" all there is we need to know to become financially successful or at least have financial peace of mind. Why do we keep buying new books? I think because we forget what we know, or we still need more confirmation. Perhaps what we need is more faith in and determination to carry out our own plans. Excellent post, just like Neal’s other writing. I like the idea of “firing yourself” if you’re just getting in the way of your own progress. The way someone else put it which resonated with me is that he was becoming the victim of his own excesses. And excesses aren’t just the extremes of bad behaviours, they are extremes of otherwise good moves, too – like trying to stay focused or organized.

I also think Neal has an excellent point about the fact that we already “know” all there is we need to know to become financially successful or at least have financial peace of mind. Why do we keep buying new books? I think because we forget what we know, or we still need more confirmation. Perhaps what we need is more faith in and determination to carry out our own plans.

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]]> By: Taylor Ellwood http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186021 Taylor Ellwood Sun, 05 Jul 2009 19:57:58 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186021 Excellent post and much more realistic than the four hour work week. I have read that book and while it has some interesting ideas, it's mainly suited for people who are selling products...even then, the reality of owning a business is that you put a lot more time into it four hours. Excellent post and much more realistic than the four hour work week. I have read that book and while it has some interesting ideas, it’s mainly suited for people who are selling products…even then, the reality of owning a business is that you put a lot more time into it four hours.

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]]> By: Neal@Wealth Pilgrim http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186020 Neal@Wealth Pilgrim Sun, 05 Jul 2009 19:31:09 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186020 I really like the idea of a "financial fire drill". Never thought of it before. Anonymous, The folks before me provided great ideas. I can understand how sad it could be to have a partner who is not willing or able to get on the team. Having said that, I hope you do take the advice provided by finding someone else to give you the financial direction you need. I'm sure there are plenty of people around who can and would love to do so. I really like the idea of a “financial fire drill”. Never thought of it before.

Anonymous,

The folks before me provided great ideas. I can understand how sad it could be to have a partner who is not willing or able to get on the team. Having said that, I hope you do take the advice provided by finding someone else to give you the financial direction you need. I’m sure there are plenty of people around who can and would love to do so.

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]]> By: KC http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186018 KC Sun, 05 Jul 2009 18:56:15 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186018 I like your mention of letting go of things that are beyond our control. There is a common saying only worry about things you can control. When I remember this I greatly reduce my stress level and it's pertinent to every part of life not just finance. I like your mention of letting go of things that are beyond our control. There is a common saying only worry about things you can control. When I remember this I greatly reduce my stress level and it’s pertinent to every part of life not just finance.

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]]> By: Chett http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186014 Chett Sun, 05 Jul 2009 18:22:10 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186014 Two things: 1. This is not a political blog. While finances and politics can and most often are related in some way, this is not the place to make those connections. I have never seen an argument end with, "You know what you're right. I'll completely change my political ideology." 2. @ Anonymous: You are giving up on yourself and expecting everyone around you to save you from yourself. Do something to make yourself feel more empowered. You need to realize you have the ability, as much as anyone else to make positive changes in your life. Two things:

1. This is not a political blog. While finances and politics can and most often are related in some way, this is not the place to make those connections. I have never seen an argument end with, “You know what you’re right. I’ll completely change my political ideology.”

2. @ Anonymous:
You are giving up on yourself and expecting everyone around you to save you from yourself. Do something to make yourself feel more empowered. You need to realize you have the ability, as much as anyone else to make positive changes in your life.

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]]> By: Bulldog Gin Co. http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186013 Bulldog Gin Co. Sun, 05 Jul 2009 18:13:37 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186013 I've "fired myself" plenty of times by locking up all my money in a high yielding CD in years past. Why? B/c i do a lot of damage sometimes (investments in this and that). By locking up my money, i'm guaranteed my 4-5% /annum return. I will continue to fire myself every year by locking up all my bonus money. The amount is generally $100-250,000/yr AFTER TAX believe it or not. The issue is, the more you have, the more you have to blow oneself up as I've done before. I’ve “fired myself” plenty of times by locking up all my money in a high yielding CD in years past. Why? B/c i do a lot of damage sometimes (investments in this and that).

By locking up my money, i’m guaranteed my 4-5% /annum return.

I will continue to fire myself every year by locking up all my bonus money. The amount is generally $100-250,000/yr AFTER TAX believe it or not. The issue is, the more you have, the more you have to blow oneself up as I’ve done before.

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]]> By: Tyler@FrugallyGreen http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186009 Tyler@FrugallyGreen Sun, 05 Jul 2009 16:29:19 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186009 Anonymous - Do you have any inclination as to why your husband doesn't want to touch the family finances? Maybe he's scared to fail if he takes over. If neither of you can be the "boss" or really help each other out in this scenario, do you have any friends that you could turn to? It takes a lot of courage to swallow your pride and ask for help with something that is so taboo to discuss in our culture, but look at it as a learning opportunity. You don't have to ask them to take over for you, just teach you their tricks to success. It might even be the case that you have a skill that they desire. Then its more like a trade than simply asking for help. Either way, this is something you can do yourself, but it will be so much easier if you can get your husband on board too. Have you talked to him about why he is so hesitant to help out? You may be surprised what the real answer is. Anonymous –

Do you have any inclination as to why your husband doesn’t want to touch the family finances? Maybe he’s scared to fail if he takes over. If neither of you can be the “boss” or really help each other out in this scenario, do you have any friends that you could turn to?

It takes a lot of courage to swallow your pride and ask for help with something that is so taboo to discuss in our culture, but look at it as a learning opportunity. You don’t have to ask them to take over for you, just teach you their tricks to success. It might even be the case that you have a skill that they desire. Then its more like a trade than simply asking for help.

Either way, this is something you can do yourself, but it will be so much easier if you can get your husband on board too. Have you talked to him about why he is so hesitant to help out? You may be surprised what the real answer is.

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]]> By: Jen http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186008 Jen Sun, 05 Jul 2009 16:27:08 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186008 Really Dave? The last five months have been an armageddon and a different election outcome would have been what? I think your comment is a good example of "external locus of control" ie feeling that your own actions don't count and that you're merely buffeted by outside forces. Sort of the opposite of the serenity prayer. Really Dave? The last five months have been an armageddon and a different election outcome would have been what?

I think your comment is a good example of “external locus of control” ie feeling that your own actions don’t count and that you’re merely buffeted by outside forces. Sort of the opposite of the serenity prayer.

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]]> By: Katrina http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186006 Katrina Sun, 05 Jul 2009 16:16:06 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186006 I thought the voice here was very timely as well as accurate. So many of us know a lot about personal finance; but knowing and being ABLE to do are not the same thing. I think it is a challenge for articles, or PF writers, to be able to present information that addresses the reader as both financially savvy AND stuck, taking into account how hard it is to follow such good advice AND still pay the monthly bills. Kudos. Also, have you and your partner (or just yourself) gone over a real live Financial Emergency Plan? What if one of you lost a job tomorrow? What's the plan that fits for right now? Have all of us counted out how much cash and savings we'd actually have? And do we do it every month or constantly revise it? I thought the voice here was very timely as well as accurate. So many of us know a lot about personal finance; but knowing and being ABLE to do are not the same thing. I think it is a challenge for articles, or PF writers, to be able to present information that addresses the reader as both financially savvy AND stuck, taking into account how hard it is to follow such good advice AND still pay the monthly bills. Kudos.

Also, have you and your partner (or just yourself) gone over a real live Financial Emergency Plan? What if one of you lost a job tomorrow? What’s the plan that fits for right now? Have all of us counted out how much cash and savings we’d actually have? And do we do it every month or constantly revise it?

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]]> By: Dave http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-186004 Dave Sun, 05 Jul 2009 15:48:56 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-186004 ...you're missing something very important that you CAN control... ..but first let's correct something..."The Great Recession of 2008" has been exacerbated by "Obamageddon 2009"...vote the liberals out...let's get our lives back...we can control a lot more than what you suggest...stop caving in to the slide to socialism. …you’re missing something very important that you CAN control…
..but first let’s correct something…”The Great Recession of 2008″ has been exacerbated by “Obamageddon 2009″…vote the liberals out…let’s get our lives back…we can control a lot more than what you suggest…stop caving in to the slide to socialism.

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]]> By: Anonymous http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-185998 Anonymous Sun, 05 Jul 2009 13:57:56 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-185998 I have repeatedly tried to fire myself. I am just horrible at taking care of our family's finances, and the two maxed-out credit cards and frequent overdraft charges prove it. (In my defense, we are trying to make it working at home after being laid off for more than a year with no state assistance available.) Money is a "hot" issue for me, causing me grief, tears and sleepless nights. My husband simply will not accept the fiscal responsibility here. He's very patient and kind with me, but will not take the job from my ever screwing-up hands. He won't even be my accountability partner, my "boss" as it were, to help rein me in. We are in bad shape now, and it's not improving. This is probably the only complaint I have of my 25-year marriage. I have repeatedly tried to fire myself. I am just horrible at taking care of our family’s finances, and the two maxed-out credit cards and frequent overdraft charges prove it. (In my defense, we are trying to make it working at home after being laid off for more than a year with no state assistance available.) Money is a “hot” issue for me, causing me grief, tears and sleepless nights. My husband simply will not accept the fiscal responsibility here. He’s very patient and kind with me, but will not take the job from my ever screwing-up hands.

He won’t even be my accountability partner, my “boss” as it were, to help rein me in. We are in bad shape now, and it’s not improving. This is probably the only complaint I have of my 25-year marriage.

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]]> By: Generation Y Investor http://www.getrichslowly.org/blog/2009/07/05/financial-serenity-%e2%80%93-the-missing-ingredient/comment-page-1/#comment-185996 Generation Y Investor Sun, 05 Jul 2009 13:48:49 +0000 http://www.getrichslowly.org/blog/?p=4342#comment-185996 Good post. The past two years have been rough and I've realized that I can't control what the economy or market does. All I can do is continue to be smart with my money, work hard, save & invest and know that no matter what happens I'll be better off than I would have been if I didn't do all this. -Gen Y Investor Good post. The past two years have been rough and I’ve realized that I can’t control what the economy or market does. All I can do is continue to be smart with my money, work hard, save & invest and know that no matter what happens I’ll be better off than I would have been if I didn’t do all this.

-Gen Y Investor

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