Sometimes Never is Better than Late

I lifted that title from Bro Tips, but it is not just applicable for parties, it can be used for your finances as well.

Now I am most certainly not talking about paying off debt, LATE is better than NEVER, however, being on time is the right answer.

Hour Glass

Time Waits For No One But Sometimes NOT Doing it is Better!

In investing being “late to the show” sometimes it is better to just ignore it, and try to find something else. If you bought into the Tech Boom in 1999, you most likely lost your shirt, if you didn’t bail out quick enough, however some folks who were in at the ground floor, might only have been lightly singed by the great drop.

If your friend invites you over for “just a party” but you get wind of it being an Amway recruiting party, never is a better choice.

Certainly with Ponzi Schemes Never is better than Late.

Where else in money is NEVER better than Late ?



Investing and System Backups the same?

That is my premise, that if you do back up your computers and such, it is much like investing your money in the market. I know you are thinking maybe I had an odd weekend, and I have gone off my financial nut here? I may have but allow me to elaborate on this a little.

Backups for your system are great ideas and very important to do (as I mentioned a while ago), however, if you cannot restore the data from these backups it ends up being a futile procedure. Mrs. Michael James had this very issue arise, where she was told all of her data was being backed up, however, when her system failed, the I.T. group sheepishly pointed out that they couldn’t restore her data from the backup tapes that they had. You really do need to test your backups to make sure that you can use the data in the backup data archive.

Now This is a Real Back Up Tape (9 Track Reel)

Now This is a Real Back Up Tape (9 Track Reel)

Investing your money is always interesting, you diligently put your money away in Index Funds, Stocks or maybe you have money in Stock Options and many folks speak of how much money they have by quoting the value of their Stock or Investment Holdings, however, until you have that in Cash (or available to you to buy a Chocolate Bar, say) you really have nothing.

Yes I know, if your money is in an Index Fund, GICs or Bonds the chance that their value will disappear is miniscule, but how about those Stocks? Do you know how many Millionaires (on paper) that I knew at Nortel, that are still working now (and have incredibly large debt loads, or were forced to declare bankruptcy)? Far too many.

If you are quoting your “wealth” by Stock Options from your firm, you are living in a fool’s paradise. Until you cash those options in, you have nothing. Yes, many people have become rich on Stock Options, however, many folks have assumed their wealth without cashing their options, and seen their wealth evaporate like a fart in the wind.

What is the Bottom Line?

The bottom line for both is simple: ” Backups are only successful when you actually Restore the data from them and similarly Investing is only successful once you get the money out of it (and start living on it)”

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