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Weekend Reading Assignments For 20-Somethings Who Care About Their Future And Their Money

25 July 2008 6 Comments

As yet another interesting week comes to a close, instead of wrapping up the week with some of my own commentary, I have decided to pass along some of the good tidbits that I have read this week. Hope you enjoy.

Great article over at Seeking Alpha about the current cycle that has become evident in our economy and financial system. If this pattern is correct, we are in for more and worse lows in the stock market.

Another Seeking Alpha article talks about Boone Pickens and his plan. Click here to read more about the Pickens Plan. I’m sick of hearing people criticize this plan. At least it’s a solution and someone is investing his own money into the solution! Guess what, Pickens is in his mid-80’s. He won’t see the future he is investing in. Oh yeah, he has $4 billion in the bank also; he doesn’t need the money. Who else is stepping up and offering real solutions? Congress? Al Gore? C’mon guys, get on board with this.

My good friend Hank at My Investing Blog does a great job of tracking his net worth. This is a great exercise for anybody to begin doing. Take a look at his spreadsheet he uses and implement something similar in your life!

The heavily criticized Kiyosaki is not the best writer and is sometimes full of himself, however, he has been extremely successful and I agree with his views on the U.S. government. Here is another article discussing the current economic environment and some ways to profit from it.

The Wild Investor has just released a free ebook for beginning investors entitled Guide To Entering the Stock Market. Check it out.

A cool website with entrepreneurial ideas.

A great article on thirteen laws of money. Interesting points to be aware of as you build your wealth.

Lastly, here’s a good article about the instant gratification nation that we are today. Self control can lead to more savings and lead to wealth. Where do you stand?

Have a good weekend everybody. I’m off to Sawgrass, FL for some relaxation at the golf course and the pool!

P.S. I am working on a great new side business that I am excited to share with the 20s Money community. I will break the news first to the subscribers of the site, so be sure to subscribe to 20s Money!

6 Comments »

  • hank said:

    Thanks for the mention Kevin! Looking forward to the new side biz you’re cooking up!

  • Chris said:

    Boone Pickens will always be about the money, don’t be naive. Yet, i still agree it is better than doing nothing. I don’t agree with the conversion of vehicles to natural gas part, as I think we are just shifting the problem for a decade before we encounter similar problems. I would rather do this plan than nothing, but sometimes I wonder if we can ever do any large scale change because politicians will never agree on anything.

  • kevin duffey said:

    Why is it wrong for someone like Pickens to make money on his investments? He is willing to invest a great deal of his money into a vision, why should he not earn a return?

    Innovation and progress comes from investment.

    The natural gas vehicle thing is good because the technology already exists. We just need the infrastructure. Plus we have loads of natural gas domestically which means we don’t have to ship so much money overseas. It’s a win/win.

  • Chris said:

    I think you misunderstood me. I think it is great that he is willing to invest his money, and he should expect a return on his investment(just like I demand on mine!). I am glad he is trying to invest in the future, and more than happy he is willing to be explicit in his plan. But as the linked article quotes

    “But he says he’s not in it for the money, and with $4 billion in the bank it’s easy to believe him.”

    I was just saying he IS in it for the money (nothing wrong with that, but don’t be naive and think he is not), and I think that is where the future of energy should be headed. We should invest in alternative energy IF it is going to be profitable. I think we are learning with corn ethanol that you can’t support a business with subsidies forever.

    I still think we are better off converting once to electric vehicles and be done with it. Much easier to change power plants than the entire infrastructure of the nation once to natural gas and then to something else later once we have a natural gas price crisis.