UNCOMMON CENTS 40

"WHATEVER YOU HAVE, SPEND LESS," FOLLOWING THE ADVICE OF SAMUEL JOHNSON, 200 YEARS AGO. FURTHERMORE, DO NOT SPEND $17.99 ON AN ELECTRIC HEATED CHIP AND DIP TRAY WITH A 2 YEAR MANUFACTURER'S WARRANTY. CAN CIVILIZATION HAVE SOARED SO HIGH AS TO STOOP THIS LOW IN THE ART OF CONSUMER FRAUD? A NONSENSICAL PURCHASE IS NO EXCUSE TO DIP INTO YOUR POCKET AT CHRISTMAS TIME. YOU AND I KNOW THAT RETAIL TEMPTATIONS ARE ENDLESS; LIKEWISE MUST BE YOUR RESOLVE TO ABSTAIN FROM THEM. WHOEVER OPTS FOR THE $17.99 PURCHASE WILL NEVER FREE UP ENOUGH CASH TO MUNCH ON THE ‘BUY AND HOLD’ APPROACH TO INVESTING.

IN THE WORLD OF INVESTMENT, MARKET TIMING INVOLVES BUYING AT LOW PRICES AND SELLING ON THE HIGHS. BUT THE AVERAGE CITIZEN INVESTOR HARDLY HAS TIME FOR OR KNOWLEDGE OF THIS SOPHISTICATED STUFF. BETTER TO TAKE THE FIRST $3000 OF EXTRA (DISCRETIONARY) SAVINGS, BUY SHARES IN A U.S. STOCK MUTUAL FUND OR MORE CONSERVATIVELY A U.S. GOVERNMENT BOND, AND HOLD. AN 8% RETURN OVER TIME BEATS AN EMPTY SNACK BOWL EVEN THOUGH THE BOWL IS REMOVABLE STONEWARE. GIVE YOURSELF A PARTY BREAK.