Comments on: A big fear I have of this site http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site/ Personal finance blog for college students, recent graduates and everyone else -- including entrepreneurship -- for getting rich. Featured in the Wall Street Journal and New York Times. Sun, 8 Nov 2009 06:09:27 -0800 http://wordpress.org/?v=abc hourly 1 By: Vasu Aiyer http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site/comment-page-1/#comment-36365 Vasu Aiyer Tue, 09 Oct 2007 15:17:49 +0000 http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site#comment-36365 Hi Ramit, I came over here via Yahoo! You have an informative site and my congratulations on providing a wonderful service. About this article, one thing comes to my mind is - practice, practice and more practice. I have had a variety of roles in the software industry over the years and nowin my latest avatar, I have a spanking new role in training. We try to answer this question and execute on that answer - "How do you get people within the company up-to-date on the latest products and technologies in the most cost effective way?" You can just give them the information (a doc site for each product) and have them go alone from there. Or you can train them using objectives phrased in their language that works for their life and give them practice in meeting those objectives and finally test them on competencies related to those objectives. Why am I saying all this? It seems to me that the current way to "train" people to be financially responsible is to give them a "doc" site - yahoo finance, msn money, wsj etc and leave them "learn". Now, not having any practice and stated objectives, you will have people reading stuff and trying all manner of extreme antics , or others that are so overwhelmed that they are paralyzed into inaction.. With well stated objectives for a desired goal, and lots of practice in building competencies to meet those objectives these sites could actually be useful. Best, Vasu Aiyer Hi Ramit,
I came over here via Yahoo! You have an informative site and my congratulations on providing a wonderful service.
About this article, one thing comes to my mind is – practice, practice and more practice.
I have had a variety of roles in the software industry over the years and nowin my latest avatar, I have a spanking new role in training. We try to answer this question and execute on that answer – “How do you get people within the company up-to-date on the latest products and technologies in the most cost effective way?”

You can just give them the information (a doc site for each product) and have them go alone from there. Or you can train them using objectives phrased in their language that works for their life and give them practice in meeting those objectives and finally test them on competencies related to those objectives.

Why am I saying all this? It seems to me that the current way to “train” people to be financially responsible is to give them a “doc” site – yahoo finance, msn money, wsj etc and leave them “learn”.

Now, not having any practice and stated objectives, you will have people reading stuff and trying all manner of extreme antics , or others that are so overwhelmed that they are paralyzed into inaction..

With well stated objectives for a desired goal, and lots of practice in building competencies to meet those objectives these sites could actually be useful.

Best,
Vasu Aiyer

]]> By: Pauline http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site/comment-page-1/#comment-4352 Pauline Tue, 06 Feb 2007 17:32:47 +0000 http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site#comment-4352 That's a great point! When getting ready to take the LSAT and now getting ready for law school, I go to the library and borrow all the books I need and take notes. Who needs all those books saying the same thing lying around. Libraries are the best things ever for frugal people who love to read. That’s a great point!

When getting ready to take the LSAT and now getting ready for law school, I go to the library and borrow all the books I need and take notes. Who needs all those books saying the same thing lying around. Libraries are the best things ever for frugal people who love to read.

]]> By: Sowlin Kongbahdi http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site/comment-page-1/#comment-234 Sowlin Kongbahdi Thu, 30 Nov 2006 23:51:38 +0000 http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site#comment-234 i absolutely love this post. keep up the good work for you gained a religious reader! i absolutely love this post. keep up the good work for you gained a religious reader!

]]> By: Thea Westra http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site/comment-page-1/#comment-233 Thea Westra Sun, 01 Oct 2006 19:48:21 +0000 http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site#comment-233 Love the posting. So obviously true. I went to the article and I also liked this line: <i>Don’t fiddle endlessly, just because it’s fun. That’s not running; that’s just playing with your shoes.</i> No accident that I named my coaching business 'Forward Steps'. :) Cheers, Thea Love the posting. So obviously true.
I went to the article and I also liked this line:
Don’t fiddle endlessly, just because it’s fun. That’s not running; that’s just playing with your shoes.
No accident that I named my coaching business ‘Forward Steps’. :)

Cheers,
Thea

]]> By: Leo L. Sluga http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site/comment-page-1/#comment-232 Leo L. Sluga Tue, 22 Aug 2006 14:10:10 +0000 http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site#comment-232 You guys are great. I am quite a bit older than you, almost 47, but I can remember being just like you guys like it was yesterday. The good part: I believe you are on the right track. I am an engineer by degree involved in manufactuirng IT and consulting for manufacturing. I figured out in high school that engineers don't make any money and that my 9-5 was going to be my secondary source of income. I went the real estate route (and of course 401k's and IRA's) and I also realized early that you have to start, but more importantly that you have to start early. That is one of the keys and you must really try to make that point. Emphasize the way those future value equations work and what they really mean. Also, talk about compounding and the profound effect it has on investments again, with respect to time. The other really huge point: It's OK to work and do well at your job. It generates seed money for investments and you need to work to contribute to the world and for personal fulfillment, etc. (Why else did you go to Engineering School?) However, once you gain critical mass with investments, you'll realize that you can get much better return by managing your investments instead of chasing that next $10,000 raise or bonus. You can wait and see or you can do the math now. Again, the most important thing is to start so that you can accumulate that critical mass sooner rather than later. Once it's achieved, it's like a snowball rolling down hill - it can't be stopped! Finally, read the Millionaire Next Door. It's really easy-reading but it makes several great points and it profiles the typical millionaire: It's guys like you. Good luck and keep up the good work. I'll try to read you guys again and make more comments. Regards, Leo Sluga You guys are great. I am quite a bit older than you, almost 47, but I can remember being just like you guys like it was yesterday. The good part: I believe you are on the right track. I am an engineer by degree involved in manufactuirng IT and consulting for manufacturing. I figured out in high school that engineers don’t make any money and that my 9-5 was going to be my secondary source of income. I went the real estate route (and of course 401k’s and IRA’s) and I also realized early that you have to start, but more importantly that you have to start early. That is one of the keys and you must really try to make that point. Emphasize the way those future value equations work and what they really mean. Also, talk about compounding and the profound effect it has on investments again, with respect to time.

The other really huge point: It’s OK to work and do well at your job. It generates seed money for investments and you need to work to contribute to the world and for personal fulfillment, etc. (Why else did you go to Engineering School?) However, once you gain critical mass with investments, you’ll realize that you can get much better return by managing your investments instead of chasing that next $10,000 raise or bonus.

You can wait and see or you can do the math now. Again, the most important thing is to start so that you can accumulate that critical mass sooner rather than later. Once it’s achieved, it’s like a snowball rolling down hill – it can’t be stopped!

Finally, read the Millionaire Next Door. It’s really easy-reading but it makes several great points and it profiles the typical millionaire: It’s guys like you.

Good luck and keep up the good work. I’ll try to read you guys again and make more comments.

Regards,

Leo Sluga

]]> By: Penny Olson http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site/comment-page-1/#comment-231 Penny Olson Sun, 14 May 2006 03:27:44 +0000 http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site#comment-231 This article really hit home for me. I was a "reader" but it was only an excuse to hesitate because I was afraid. Since I have learned to start by simply putting one foot in front of the other and "just freakin' do it", I have done nothing but surprise myself with the incredible things that I am capable of. I am finding that this tactic works in every aspect of life from starting my own business, trading stocks, even relationships. And the more I do things in spite of fear, the happier I am becoming. I believe that you do not have a chance to grow unless you are willing to take yourself out of your comfort zone. Thanks so much for the incredible reinforcement!!! This article really hit home for me. I was a “reader” but it was only an excuse to hesitate because I was afraid. Since I have learned to start by simply putting one foot in front of the other and “just freakin’ do it”, I have done nothing but surprise myself with the incredible things that I am capable of. I am finding that this tactic works in every aspect of life from starting my own business, trading stocks, even relationships. And the more I do things in spite of fear, the happier I am becoming. I believe that you do not have a chance to grow unless you are willing to take yourself out of your comfort zone. Thanks so much for the incredible reinforcement!!!

]]> By: cathy http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site/comment-page-1/#comment-230 cathy Sat, 17 Dec 2005 01:26:09 +0000 http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site#comment-230 I like the Nike slogan - just do it! I like the Nike slogan – just do it!

]]> By: Colm O Brogain http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site/comment-page-1/#comment-229 Colm O Brogain Fri, 04 Nov 2005 22:51:54 +0000 http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site#comment-229 Great site. the link to the article is broken, here's the new one: <a href="http://www.43folders.com/2005/05/18/because-buying-new-running-shoes-is-more-fun-than-actually-running/" rel="nofollow">http://www.43folders.com/2005/05/18/because-buying-new-running-shoes-is-more-fun-than-actually-running/</a> Great site. the link to the article is broken, here’s the new one: http://www.43folders.com/2005/05/18/because-buying-new-running-shoes-is-more-fun-than-actually-running/

]]> By: ~Dawn http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site/comment-page-1/#comment-228 ~Dawn Sat, 18 Jun 2005 00:52:07 +0000 http://www.iwillteachyoutoberich.com/blog/a-big-fear-i-have-of-this-site#comment-228 Reading, reading and reading does sink into to your subconscience I think. But you are right, learning is nothing without action and action doesn't happen unless attitudes change. Reading, reading and reading does sink into to your subconscience I think. But you are right, learning is nothing without action and action doesn’t happen unless attitudes change.

]]>