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May 23, 2006


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I am 65 years old and still working single man. I have not been married before and have no dependence.
Awhile back I read a book by S. Pollack , "Die Broke " it was interesting ,are there any books or writings with similar subjects? I rarley see anything on how to live and invest during retirement so you don't leave anything behind. I am fully aware of charitable givings.

Getting an education was the worst financial decision I have ever made. I had $4,000 (in early-1970s dollars) saved up by the time I graduated high school. Then I blew it all on college, and graduated with student loan debt which is still not retired. My education did absolutely nothing in terms of increasing my income, the opportunity costs were huge (I was working min wage jobs in college instead of working at a better job), and the financial ROI has been staggeringly large and negative.

Getting an education may be te worst financial decision YOU have ever made, but there is little to no question about education increasing the quality of ones life in the long run.

Not to be rude but if you haven't paid of the money from college that you acrued in debt (and in the 70's no less, almost thirty years ago), then it makes me wondere where you stand in regards to your goals of debt reduction. I was fortunate in that I used my military experience to go to school while I was in, and paid off my school at the same time. While I am by no means wealthy, at the same time I do enjoy a higher standard of living and more job opportunity than most persons with a lesser education. In addition to this I still have the option of paying for school for a masters degree or a degree to make a career change with the additional monies I recieved from the military.

Debt reduction is an action and I have paid off my debt once, accrued it, and am paying it off again. It's about making the sacrifices required to reduce your debt. Not complaining that "Education was a poor ROI".

If this comes up in consideration that someone is looking to get an eduation. Please seriously consider doing it. Unless you are one of the few with the natural inclination for entrepreneurship, then NOT having a degree and having a job will be much worse than having one and having a job.

You mention that you donate all of your earnings from FMF to charity. I have been searching the web for more info on this - as I am wanting to set up an Etsy shop to sell crafts I make & give all profits to non-profit organizations I volunteer with. What I am looking for is information on tax reporting and liability. Do you have any resources or suggestions? I plan on the sales making a profit, but I know in advance that all profits will be donated. I have had some experience already by setting up home shows and craft bazaars, but in those cases I had people make their checks out directly to the non-profits.

Here's what I do:

1. The "business" is set up as a sole proprietorship so all profit is treated the same as money I earn from work.

2. I then give the funds away personally.

Since there aren't a lot of expenses to running the site, I pay them myself and give all revenue to charity. You'll probably want to take revenue less expenses to get profit, then give this amount away yourself.

Very body want to be richest man of the world It is also my dream to be richest men of world till today i am poor boy but hope after twelve tear map of the world will be changed

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