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How to Make a Million Dollars Print E-mail
(12 votes, average 4.08 out of 5)
Personal Finance - Investing
Written by livecheap staff   

So you want to make a million dollars?  Well for most of us, the real goal will be to SAVE a million dollars.  Of course, it isn't what it used to be.   Not so long ago, it used to be considered wealth but these days it only qualifies as being well off. These days, if you have to live off of it and you want it to last, you're not going to have a house in the south of France and an ocean-front condo in Bal Harbor.  If you have that kind of cash in the bank, you'd be lucky to earn $35,000 a year in interest.  Even if that kind of money doesn't let you live in the lap of luxury, with a million dollars saved in the bank, you'll definitely have enormous options in life.  If you want to flip your slave-driving boss the bird, having a liquid million is a goal worth attaining.  So it's worth reviewing the math behind saving $1 million because it's a goal that is achievable on a middle-class income.  Making a million dollars, that's not hard, its keeping it that's the real struggle.

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Vitacost.com - Another Scam Brewing? Print E-mail
(16 votes, average 3.63 out of 5)
Personal Finance - Investing
Written by Ahmed Amr   
Wednesday, 15 September 2010 03:28

Is there a Vitacost scam? Back in 1987, a major stock scam unraveled when a consumer raised hell about excessive credit card charges on her carpet cleaning bill. Once her story got picked up by the Los Angeles Times, the company went into a free-fall after massive fraud was uncovered. For those of you old enough to remember, the company was ZZZZ Best which was established by celebrated boy wonder Barry Minkow. The company went public when he was nineteen and he got sentenced to 25 years for securities fraud when he was 21.

The scheme to defraud investors and consumers was simple enough. ZZZZ inflated its income and assets by over-charging customers on their credit card bills and claiming it had non-existent contracts with insurance companies to do some major clean up and refurbishing jobs.

Fast forward to 2010. A few weeks ago, a friend of mine, Charlie, noticed a few charges on his credit card statement and for vitamins he never ordered. Not one to overlook that kind of thing, he complained to his credit card company which advised him to contact the Vitacost (symbol: VITC) to reverse the charges. But the folks at Vitacost wouldn’t back down and the next thing he knew, they billed him again on the next month’s statement. My buddy contested the bill but still couldn’t get Vitacost outfit to remove the charges. He finally got ticked off and cancelled the card.

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Your Destination is Your Financial Destiny Print E-mail
(5 votes, average 4.80 out of 5)
Personal Finance - Investing
Written by Ahmed Amr   

Your geographic location has so much to do with your financial destiny. From the day you are born, it starts having an impact on your economic well-being. If you happen to be American-born or your mother is Swedish or Japanese – you have a leg up from the day you take your first breath. As an added bonus, you’ll probably earn a decade or two of additional longevity just because you entered the planet as a resident of a developed country.

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Your Change Might Be Worth More than You Think Print E-mail
(8 votes, average 4.25 out of 5)
Personal Finance - Investing
Written by Omie Ismail   
Monday, 09 August 2010 03:31

I'm not a real coin collector. I pile up change until it gets to a few hundred dollars, bag it and then take it to the bank. My wife just loves rolling coins.  Something therapeutic about it for her.  If I Half_Dollarhappen to get a half dollar or maybe a $2 bill, I might keep it for the kids. But back when I was a kid, I collected coins. I collected them without having any knowledge of their worth. My wife did the same thing and it wasn't until we poured over her small collection that we had finally understood what some coins were really worth. If you are like the average person, you probably overestimate what some money is worth and vastly underestimate what other coins could actually bring.

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You're Not As Rich as You Think You Are Print E-mail
(23 votes, average 4.87 out of 5)
Personal Finance - Investing
Written by The Cheap Entrepreneur   

My wife and I sat down at the finely crafted twelve foot long table. I figured it must take a significant amount of elbow grease to get that kind of polish.

Our hosts were extremely cordial and very happy to see us but I resisted the urge to ask them what kind of polish they use and whether you could buy it wholesale. I mean these guys were our new investment managers, not the cleaning crew. As I took stock of the finely appointed office, I couldn't help but feel a little out of place. The question that ran through my mind was "why would these guys want folks like us for clients, we're not rich".

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