Tuesday, September 14, 2010

personal finance blog



People often ask me about the secret to this blog’s success. “How did you get so many readers?” they ask. “How can I do the same?”


My answer is similar to Anderson’s. There aren’t any secrets. Write and post great content on a regular basis for a long, long time. In short, you can’t just talk about building a great blog; you also have to put in the work. Simple, right? But it’s not easy.


(I appreciate the folks who come up to me and say, “You know, J.D., I don’t know how you do it. I tried to keep a blog for a few months. It was hard.” Yes, it is. It’s work, just like anything else.)


If there’s something you want to be or do, the best way to become that thing is to actually take steps toward it, to move in that direction. Don’t just talk about it, but do something. It doesn’t have to be a big thing. Just take a small step in the right direction every single day.


If you want to get out of debt, take small steps toward becoming debt-free. If you want to save for a trip to Africa, save a little bit at a time. If you want to get a new job, make moves in that direction. But take action. That’s the most important step.


Action Not Words

Of course, there’s more to getting stuff than just taking action. It’s one thing to say you want to become a commercial airline pilot and another to actually do it. Here are some of the things I learned as I made the move from Talker do Doer:



  • Make time for the things you want to do. One of the keys to getting things done is setting aside time for the things you want to accomplish. You have to make time to get stuff done. As the Kevin J. Anderson article I mentioned above demonstrates, you don’t just become a best-selling author or an Olympic athlete. Talking doesn’t make it so. You have to carve out time to do this stuff. You have to put your Big Rocks first and fit the small stuff in around them.


  • Have a goal in mind. I truly believe that the biggest reason I used to struggle with getting stuff done is that I didn’t have any sort of plan. I had no goals. Goals give you purpose. It wasn’t until I became committed to digging out of debt that I was able to actually start moving in the right direction. Part of my current problem is that I’ve recently achieved a bunch of big goals, but now have nothing planned for the future.


  • Don’t take on too much. While it’s important to set goals, don’t take on too many tasks at once. I try to set just one or two major goals at a time. Any more and I find I can’t pursue any of them effectively. This year, my one goal is to lose 50 pounds. I’m on pace to do that. Why? Because I don’t have anything else on my schedule competing for time. This is my Big Rock.


  • Don’t let failures deter you. This is huge. One of the reasons I used to talk so much without acting is that I was afraid of failure. I’m not sure where I learned to be afraid of defeat, but that’s the way I was. And when I did try something but failed, I’d give up. This is no way to get stuff done. Talkers let fear of failure keep them on the sideline; Doers overcome fear and move on, and when they fail, they simply try again.


  • Don’t find reasons that something can’t be done; instead, find ways that something can be done. This is a pet peeve of mine. I hate when people come to me for advice, but when I give it, they tell me all of the reasons it won’t work for their circumstances. (This often happens when I suggest people take a second job to boost their income, for example.) One of the biggest difference between successful people and those who aren’t is that the successful don’t make excuses. If something looks difficult or impossible, they find ways to make it happen anyhow.


In the past five years, I’ve learned that I can do anything I set my mind to. Get out of debt? After I stopped talking and started doing, I got out of debt quicker than I thought possible. Losing 50 pounds? Well, I’m not there yet, but I’ve lost over 30 pounds since January 1st — but it didn’t happen until I stopped talking about it and started working hard to make it happen. Learning French? Well, there’s one where my talk outpaces my action right now, and it’s a perfect example of what I mean when I say actions speak louder than words. I don’t study my French as much as I should, so basically all I can do is count and tell you what color my clothes are. (”J’ai deux chemise noir.”)


For five years, my doing slowly increased until this past winter it reached a frenzied pace. I was burning myself out. I was writing and speaking and working and exercising and…well, it seemed like I never had a spare moment. This was the dark side of doing, and it’s what triggered my desire to downshift. It’s what led the pendulum swinging too far in the direction of Starcraft II.


Finding a Solution

So what’s the solution to my current problem? How can I stop playing computer games so much? How can I stop just being a Talker and become a Doer again? Well, making this public confession is a first step. But the thing that I think will really help is the “decision tree” I came up with the other day. Whenever the urge to game strikes, I’m going to ask myself the following questions:



  • Have I exercised today?

  • Are the house and yard tidy?

  • Have I run all of my errands?

  • Have I written and/or edited at least two articles for Get Rich Slowly?

  • Does my inbox have fewer than 20 messages?


If I can answer “yes” to these five questions, then it’s okay to play Starcraft II or Carcassonne. But if I answer “no” to even one of these questions, I need to have the discipline to let the gaming go. I believe this will help me strike a balance. It’ll help me return to the world of Doing again. Because you know what? Life is a lot more fun as a Doer than a Talker.



A barrage of independent expenditures from a group operated by a deep-pocketed New Orleans trial lawyer couldn�t deflate the candidacy of state Rep. Cedric Richmond, who, on Saturday, won the Democratic Party nomination to vie for the congressional seat occupied by Rep. Joseph Cao (R-La.).

Louisiana Truth PAC invested $92,840 in attacks against Richmond, pictured right, in the days immediately before Saturday�s primary election, according to a Center for Responsive Politics review of filings with the Federal Election Commission.

The group argued Richmond is another William Jefferson, the longtime New Orleans congressman who infamously stored $90,000 in cash in his freezer and was sentenced to 13 years in federal prison last year after prosecutors won his conviction on bribery charges.

Louisiana Truth PAC specifically pointed to accusations, aired by New Orleans blogger American Zombie, that Richmond established at least one 501(c)3 nonprofit group and �bilked the organization�s cash flow for personal use,� including buying a diamond bezel for his �blingiddy-bling, white gold, Rolex watch.�

The Louisiana Truth PAC�s independent expenditures purchased polling, robo-calls, postcard mailings, TV advertising and the creation of a new anti-Richmond website, according to FEC filings. Nevertheless, Richmond, a three-term state legislator backed by the Democratic Congressional Campaign Committee, the Congressional Black Caucus and the state�s Democratic Party establishment, won 60 percent of Saturday�s vote.

Louisiana Truth PAC�s treasurer is attorney Stuart H. Smith, who specializes in environmental law, class-action lawsuits and mass torts, as OpenSecrets Blog reported last week.

It's unknown whether Smith, who has personally contributed tens of thousands of dollars to Democratic candidates and committees since January 2009 alone, is responsible for any or all of the money behind these advertisements -- although several expenditures reported to the FEC reference �in-kind payments via credit card by Stuart Smith.�

Ahead of Saturday�s primary election, Smith declined to elaborate to OpenSecrets Blog on who was funding the new political committee, beyond saying �concerned citizens.� Campaign finance reports detailing the sources of the funds raised by Louisiana Truth PAC, which is legally allowed to collect unlimited sums from individuals and corporations, will be filed with the FEC later this autumn.

Smith could not be reached for comment for this story.

Earlier this year, Smith himself donated the legal maximum to state Rep. Juan LaFonta, who finished a distant second behind Richmond, with just 21 percent of the vote.

Richmond had out-raised LaFonta, $507,300 to $301,800, as of Aug. 8, the most recently available data. As of Aug. 8, Richmond also boasted more than 10 times as much money in the bank: $166,300, compared to LaFonta�s $13,500.

In November, Richmond will face Cao, who in 2008 unexpectedly unseated Jefferson for this seat representing Louisiana�s 2nd Congressional District.

The Richmond campaign did not immediately return messages left seeking a comment for this story.

Louisiana Truth PAC is one of several groups to recently materialize after legal decisions that opened the door for groups to tap corporate and individual donors for unlimited amounts to fund independent expenditures that expressly advocate for or against federal candidates. Those rulings include the Supreme Court's January decision in Citizens United v. Federal Election Commission and a federal court's March opinion in SpeechNow.org v. FEC.


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People often ask me about the secret to this blog’s success. “How did you get so many readers?” they ask. “How can I do the same?”


My answer is similar to Anderson’s. There aren’t any secrets. Write and post great content on a regular basis for a long, long time. In short, you can’t just talk about building a great blog; you also have to put in the work. Simple, right? But it’s not easy.


(I appreciate the folks who come up to me and say, “You know, J.D., I don’t know how you do it. I tried to keep a blog for a few months. It was hard.” Yes, it is. It’s work, just like anything else.)


If there’s something you want to be or do, the best way to become that thing is to actually take steps toward it, to move in that direction. Don’t just talk about it, but do something. It doesn’t have to be a big thing. Just take a small step in the right direction every single day.


If you want to get out of debt, take small steps toward becoming debt-free. If you want to save for a trip to Africa, save a little bit at a time. If you want to get a new job, make moves in that direction. But take action. That’s the most important step.


Action Not Words

Of course, there’s more to getting stuff than just taking action. It’s one thing to say you want to become a commercial airline pilot and another to actually do it. Here are some of the things I learned as I made the move from Talker do Doer:



  • Make time for the things you want to do. One of the keys to getting things done is setting aside time for the things you want to accomplish. You have to make time to get stuff done. As the Kevin J. Anderson article I mentioned above demonstrates, you don’t just become a best-selling author or an Olympic athlete. Talking doesn’t make it so. You have to carve out time to do this stuff. You have to put your Big Rocks first and fit the small stuff in around them.


  • Have a goal in mind. I truly believe that the biggest reason I used to struggle with getting stuff done is that I didn’t have any sort of plan. I had no goals. Goals give you purpose. It wasn’t until I became committed to digging out of debt that I was able to actually start moving in the right direction. Part of my current problem is that I’ve recently achieved a bunch of big goals, but now have nothing planned for the future.


  • Don’t take on too much. While it’s important to set goals, don’t take on too many tasks at once. I try to set just one or two major goals at a time. Any more and I find I can’t pursue any of them effectively. This year, my one goal is to lose 50 pounds. I’m on pace to do that. Why? Because I don’t have anything else on my schedule competing for time. This is my Big Rock.


  • Don’t let failures deter you. This is huge. One of the reasons I used to talk so much without acting is that I was afraid of failure. I’m not sure where I learned to be afraid of defeat, but that’s the way I was. And when I did try something but failed, I’d give up. This is no way to get stuff done. Talkers let fear of failure keep them on the sideline; Doers overcome fear and move on, and when they fail, they simply try again.


  • Don’t find reasons that something can’t be done; instead, find ways that something can be done. This is a pet peeve of mine. I hate when people come to me for advice, but when I give it, they tell me all of the reasons it won’t work for their circumstances. (This often happens when I suggest people take a second job to boost their income, for example.) One of the biggest difference between successful people and those who aren’t is that the successful don’t make excuses. If something looks difficult or impossible, they find ways to make it happen anyhow.


In the past five years, I’ve learned that I can do anything I set my mind to. Get out of debt? After I stopped talking and started doing, I got out of debt quicker than I thought possible. Losing 50 pounds? Well, I’m not there yet, but I’ve lost over 30 pounds since January 1st — but it didn’t happen until I stopped talking about it and started working hard to make it happen. Learning French? Well, there’s one where my talk outpaces my action right now, and it’s a perfect example of what I mean when I say actions speak louder than words. I don’t study my French as much as I should, so basically all I can do is count and tell you what color my clothes are. (”J’ai deux chemise noir.”)


For five years, my doing slowly increased until this past winter it reached a frenzied pace. I was burning myself out. I was writing and speaking and working and exercising and…well, it seemed like I never had a spare moment. This was the dark side of doing, and it’s what triggered my desire to downshift. It’s what led the pendulum swinging too far in the direction of Starcraft II.


Finding a Solution

So what’s the solution to my current problem? How can I stop playing computer games so much? How can I stop just being a Talker and become a Doer again? Well, making this public confession is a first step. But the thing that I think will really help is the “decision tree” I came up with the other day. Whenever the urge to game strikes, I’m going to ask myself the following questions:



  • Have I exercised today?

  • Are the house and yard tidy?

  • Have I run all of my errands?

  • Have I written and/or edited at least two articles for Get Rich Slowly?

  • Does my inbox have fewer than 20 messages?


If I can answer “yes” to these five questions, then it’s okay to play Starcraft II or Carcassonne. But if I answer “no” to even one of these questions, I need to have the discipline to let the gaming go. I believe this will help me strike a balance. It’ll help me return to the world of Doing again. Because you know what? Life is a lot more fun as a Doer than a Talker.



A barrage of independent expenditures from a group operated by a deep-pocketed New Orleans trial lawyer couldn�t deflate the candidacy of state Rep. Cedric Richmond, who, on Saturday, won the Democratic Party nomination to vie for the congressional seat occupied by Rep. Joseph Cao (R-La.).

Louisiana Truth PAC invested $92,840 in attacks against Richmond, pictured right, in the days immediately before Saturday�s primary election, according to a Center for Responsive Politics review of filings with the Federal Election Commission.

The group argued Richmond is another William Jefferson, the longtime New Orleans congressman who infamously stored $90,000 in cash in his freezer and was sentenced to 13 years in federal prison last year after prosecutors won his conviction on bribery charges.

Louisiana Truth PAC specifically pointed to accusations, aired by New Orleans blogger American Zombie, that Richmond established at least one 501(c)3 nonprofit group and �bilked the organization�s cash flow for personal use,� including buying a diamond bezel for his �blingiddy-bling, white gold, Rolex watch.�

The Louisiana Truth PAC�s independent expenditures purchased polling, robo-calls, postcard mailings, TV advertising and the creation of a new anti-Richmond website, according to FEC filings. Nevertheless, Richmond, a three-term state legislator backed by the Democratic Congressional Campaign Committee, the Congressional Black Caucus and the state�s Democratic Party establishment, won 60 percent of Saturday�s vote.

Louisiana Truth PAC�s treasurer is attorney Stuart H. Smith, who specializes in environmental law, class-action lawsuits and mass torts, as OpenSecrets Blog reported last week.

It's unknown whether Smith, who has personally contributed tens of thousands of dollars to Democratic candidates and committees since January 2009 alone, is responsible for any or all of the money behind these advertisements -- although several expenditures reported to the FEC reference �in-kind payments via credit card by Stuart Smith.�

Ahead of Saturday�s primary election, Smith declined to elaborate to OpenSecrets Blog on who was funding the new political committee, beyond saying �concerned citizens.� Campaign finance reports detailing the sources of the funds raised by Louisiana Truth PAC, which is legally allowed to collect unlimited sums from individuals and corporations, will be filed with the FEC later this autumn.

Smith could not be reached for comment for this story.

Earlier this year, Smith himself donated the legal maximum to state Rep. Juan LaFonta, who finished a distant second behind Richmond, with just 21 percent of the vote.

Richmond had out-raised LaFonta, $507,300 to $301,800, as of Aug. 8, the most recently available data. As of Aug. 8, Richmond also boasted more than 10 times as much money in the bank: $166,300, compared to LaFonta�s $13,500.

In November, Richmond will face Cao, who in 2008 unexpectedly unseated Jefferson for this seat representing Louisiana�s 2nd Congressional District.

The Richmond campaign did not immediately return messages left seeking a comment for this story.

Louisiana Truth PAC is one of several groups to recently materialize after legal decisions that opened the door for groups to tap corporate and individual donors for unlimited amounts to fund independent expenditures that expressly advocate for or against federal candidates. Those rulings include the Supreme Court's January decision in Citizens United v. Federal Election Commission and a federal court's March opinion in SpeechNow.org v. FEC.


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