investingfromtheright

I am retired and take educated guesses on all things financial.

August 19, 2007

August 20, 2007: Smart spending...best stuff at a good price




Every so often, MONEY magazine publishes a fun issue. The most recent, set to be on newsstands shortly, is almost solely devoted to highlighting the "best stuff at the right price". We all know that being a good investor means saving money as well as investing appropriately with the correct attitude.

Here are some of MONEY's recommendations, including the "best advice':

"When you do not know a thing, to allow that you do not know it - this is knowledge."-Confucius

"He that is overcautious will accomplish little." - Friedrich von Schiller

"For age and want, save while you may; no morning sun lasts the whole day." -Benjamin Franklin

"It is the part of a wise man to keep himself today for tomorrow and not venture all his eggs in one basket." - Miguel de Cervantes

"Asset allocation...is the overwhelmingly dominant contributor to total return." - Gary Brinson, Brian Singer and Gilbert Beebower

"The nest way to own common stock is through an index fund." - Warren Buffett

"The real key to making money in stocks is not to get scared out of them." - Peter Lynch

"Performance comes and goes, but costs roll on forever." - John Bogle

"If a business is worth a dollar and I can buy it for forty cents, something good may happen to me." - Warren Buffett

"There is nothing new in the world except the history you do not know." - Harry Truman

"It takes as much energy to wish as it does to plan." - Eleanor Roosevelt

"The time is always right to do the right thing." - Martin Luther King, Jr.

"The avoidance of taxes is the only intellectual pursuit that carries any reward." - John Maynard Keynes

Best television: Panasonic TH-50PX600U 50-inch 720P Plasma est. $1500.00

Best theater system: JVC DVD Digital Theater System TH-D50 est. $400.00

Mattress and box spring: Sealy Silver Coast Ultra Plush Euro Pillowtop (no est. cost)

Everyday suit: Jos. A. Bank Business Express Suit est. $550.00

Quality men's suit: Hickey-Freeman Barrett est. $1350.00

Desk chair: Herman Miller Aeron est. $949.00

Printer-Copier-Fax-Scanner: Epson Stylus CX9400F est. $150.00

Golf driver: Callaway FT-3 est. $299.00

Grill: Weber Genesis E-310 est. $550.00

Stationary bike: Spinner Sport est. $499.00

Mobile personal finance software: Pocket Quicken est. $40.00 Ultrasoft Money est. $40.00

Credit card for college-bound students: Citi's mtvU (rewards timely payments and good grades)

Enjoy your Monday morning.

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