My interview with the first family of wrestling- the McMahons continues to get the hits on Youtube. I thought I would share one of the segments with you. This is my interview with the controversial patriarch- Vince McMahon.

Marilyn, Lauren and Betty had fun with the idea of marrying into money with their 1953 movie “How to Marry a Millionaire.”  More than 50 years later you would be surprised how many people think their money problems will go away because they will marry rich- or simply get married. And its not just women looking for that “good provider.”  More and more guys are hoping their mate will come with financial benefits.

Think beyond the sugar momma or daddy. Sometimes it is not about marrying into a fortune- but marrying to dissolve yourself of any financial responsibility.  You are willing to bring home the bacon- but don’t want to think about if there is enough to cover the bills, add to investments or – god forbid- taxes.  Who do you know – who would rather leave the money stuff to someone else- because they have more interesting things to do with their time?  No matter what your gender or your income, life is (over the long haul) a lot easier if you invest in your own financial education.

If you are in a relationship and have let your partner take the lead with the finances— then think about getting more involved. The bottom-line,  a man is not a financial plan.  And guys– women aren’t one either. No matter how many breadwinners you have in your household–  you both need to be in the loop. I understand that there is usually someone in a relationship who likes the financial planning and the other partner might hate it. That is fine. But things happen and you need to know the basics to make sure you can make it on your own with- or without your mate.  The two D’s we hate to talk about -death and divorce- happen.  This applies to both men and women.. married or partners.

Start with the basics– get a notebook that has all of the important phone numbers account names and numbers and beneficiary info in one place. If you don’t have a will– get one and keep a copy in that notebook.  It is a simple way to get in the loop. Just remember to update it as things change.

I also suggest you have a money meeting at least once a year.  That is when you review all the retirement funds, investment funds, debt and any other big financial issues. This is a real meeting — with no kids, no interruptions allowed.  Go over the information and talk about the specifics of your family’s financial health and strategies for improving it in the coming year.

Good luck and look for more money tips on my show We Owe What?

Your local listings:  http://livewellnetwork.com/We-Owe-What/feature/We-Owe-What-Show-Times/8530785

Facebook, My Space, Twitter, there are ways to turn a profit using social media. Find out how

Stedman Graham does not do a lot of interviews. That is why I was so pleased when he decided to spend a few minutes with me. He is the kind of person you hope to sit next to at a luncheon because you know you will enjoy the company and learn something in the process, Enjoy!

Mary Talks Money made its debut on LiveWellHD TV this past week and on WPVI-TV. I am very excited about this show for two reasons:
1)We have great information for anyone trying to improve their financial situation and we present that info in plain English!
2)The show is accessible to nearly everyone. We are over the air, on cable and FIOS in 10 markets (see list below) and available on the web to everyone (click on the link to go right to the site).   http://livewellhd.com/marytalksmoney/channel?id=7190015

The Great Recession may be winding down, but it has changed many things permanently- which isn’t a bad thing. More isn’t always better. More credit card debt, more toxic toys, more waste in our landfills– not good. Less clutter allows us to think more clearly, to prioritize more easily. The net result of this- I believe- is that it will be easier for us to live up to our positive potential. A clear head helps you to focus- when we focus we can accomplish whatever we want. It isn’t necessarily easy- but it is possible. This is when the big ideas are born and the most amazing businesses are formed. They don’t have to be big– they just have to meet a need.

So it is in this environment that Mary Talks Money emerges. I will get the conversation started, but I need you to keep it going. Post comments here or email– let me know what is on your mind.

Where to see Mary Talks Money
New York/Tri-State Area
Over the Air — Channel 7.2
Time Warner — Channel 687
Cablevision — Channel 729
Comcast — Channel 245 (New Jersey)
Comcast — Channel 264 (Connecticut)
Verizon (New York/New Jersey) — Channel 467
Click here for complete TV schedule

Los Angeles/Southern California
Over the Air — Channel 7.2
Charter — Channel 753
Cox — Channel 796
Time Warner — Channel 445
Verizon — Channel 467
Champion — TBD
Click here for complete TV schedule

Chicago
Over the Air — Channel 7.2
Comcast — Channel 217
RCN — Channel 618
Wide Open West — Channel TBD
Click here for complete TV schedule

Philadelphia/Delware Valley
Over the Air — Channel 6.2
Comcast — Channel 245
Verizon — Channel 466
Click here for complete TV schedule

San Francisco/Bay Area
Over the Air — Channel 7.2
Comcast — Channel 715
Click here for complete TV schedule

Houston, Texas
Over the Air — Channel 13.2
Comcast — Channel 685
Click here for complete TV schedule

Raleigh/Durham/Fayetteville
Over the Air — Channel 11.2
Time Warner — Channel 212
Click here for complete TV schedule

Fresno, Calif.
Over the Air — Channel 30.2
Comcast — HD Channel 909
Click here for complete TV schedule

Flint, Michigan
Over the Air — Channel 12.2
Comcast — Channel 246
Charter — Channel 430
TVC — Channel 136
Click here for complete TV schedule

Toledo, Ohio
Over the Air — Channel 13.2
Buckeye — Channel 614
Click here for complete TV schedule

Date:  January 7, 2010  Release Date:  Immediately

6abc Rolls Out New Program on Live Well HD Network

Locally Produced Mary Talks Money – Debuts Jan 11^th

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(Philadelphia, PA) – Who doesn’t need a little help managing their money in this economy?  6abc’s hot new show, Mary Talks Money, gives you real solutions to the real kinds of problems we all face!  From credit card debt to what to do if you lose your job…from how to talk to kids about money to where financial planners are putting their own funds…host Mary Caraccioli tackles the topics that can help you start off the New Year on the right foot…and stay there all year long.

Do you have a New Year’s resolution to save more and spend less?  Mary Talks Money debuts Monday, January 11th on the Live Well HD Network, 6abc’s digital channel 6.2, just in time for you to start organizing your budget for 2010!  Viewers can also watch a special presentation of Mary Talks Money on 6abc’s primary channel (6.1), Saturday, January 16^th at 7:30pm.

Mary knows money.  She sits on the Board for the Delaware Financial Literacy Institute, one of the nation’s most comprehensive financial literacy non-profits.  Her financial journalism career started at CNBC, where she helped launch the nationally syndicated radio show Lou Dobbs Financial Report.  She went on to create and host Comcast’s Money Matters Today.

Mary is currently finishing a Master’s Degree at the University of Pennsylvania and a Certified Financial Planning curriculum at Boston University.  She earned her MBA from Drexel University’s LeBow College of Business

Mary Talks Money is filmed and produced locally at the WPVI studios on City Avenue, Philadelphia.  For more information on Mary Talks Money and other Live Well HD Network programs go to www.livewellhd.com.

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WPVI-TV is the ABC owned station serving the Delaware and Lehigh Valleys.

Contact:  Mike Monsell, 215-581-4466

Mary Caraccioli: The last decade has been this period of bubbles and busts. Have these cycles changed your investment philosophy at all?
Steve Forbes: I think it underscores that you cannot do, what they call, rearview mirror investing. And that is assume that was is in the present is going to be in the future, or what is past is going to be in the future. I remember in the 1990’s the average return on a stock was 11.x% but between the mid-1960s and the early-1980s stocks actually in the real term went down 60 or 70%. Then you have this enormous surge upwards. Where in a period of 20 year, something like the Dow went up almost 15 fold.
So a lot of volatility. And in terms of investment strategy, you have to learn to be disciplined. Everyone says they are a disciplined investor until the market goes down. Then it’s “It’s too late to get out” or the market surges and it’s “oh is it too late to get in.” You see that attitude this year. “oh I’ll wait for the next turn then I’ll be sure to get in.” You get whipsawed. For younger people, the key thing is Mary, they put in a certain amount each month into several low expense mutual funds and keep doing it and don’t get caught up on the day-today.
And in terms of strategy…yes you have to be diversified around the world with companies that have a good overseas presence. The dollar is in one of these weak periods. So you have to be diversified, but don’t over manage it. But if you don’t have time to do it, go with the mutual fund…let others babysit your money for you.
MC: How do you structure your own personal investing? Are you more aggressive than the average person or are you more conservative?
Forbes: It’s probably aggressive in the sense that most of my assets are in company. So if that does well, I’ll do well. If not, what I do on the side isn’t going to much help me. So yes. But I do also have life insurance which is probably the most conservative investment you can have. But with a good company, it doesn’t look so bad in the last two or three years. So there’s balance, but I do like mutual funds again because if you are going to do individual securities you have to have time to really examine the thing. And if you don’t, don’t do yourself a disservice. Get someone with brains to do it for you
MC: Makes sense. So you like managed mutual funds as opposed to index funds, that are not actively managed.
Forbes: Yes and sometimes if you think there is a certain sector, you can try to get and exchange traded fund or an index fund to cover it. That’s fine. But in terms of the market as a whole, realize that you are not going to beat it. And also have a realistic expectation of what it is you want. Everyone wants capital gains, but what is your time horizon. What is your true tolerance? And then you can go beyond equities and take bonds.
Who ever would have thought two years ago that treasuries would be given at fantastic returns. That you could buy a thirty year treasury at a time when the dollar is going be weakened and you get a positive return. That’s the kind of crazy environment we’re in. But you’ve got to be ready for it.
MC: Being ready for it means that you don’t have the knee jerk reaction. It’s about essentially getting a plan and sticking to it. When do you get off of that plan and say, I’m going to divert from this. It’s obviously not to the news of the day, right?
Forbes: Right and it depends on where the money is. If it’s a 401k or an IRA and you’ve followed the rules of fiduciary responsibility to yourself, that is you’ve diversified, and not put too many eggs in one basket as they say, then you can ride a storm through. If you’re not going to need the money for a few years, ride the storm through.
And you saw that very graphically after the huge hit from late 2007 to early 2009, where a typical stock went down 60%. A lot of people got out. They said I can’t afford this. I can’t stomach this. I gotta put some stock on the side. Then March comes around and you have a huge snap back on the market. Now the same thing happened in the 30’s. Even though it was a dreadful decade, a horrible decade economically, you saw these real whipsaws. Same thing in the 70’s. 75, 76 fantastic for the market, even though it was a dreadful decade.
So yeah, especially for retirement, don’t try to hit homeruns. There was a money manager in Connecticut years ago that said “For certain kinds of money play it like you should tennis.” You like to play tennis Mary. And he advised, “realize you are not going to be playing Wimbledon. ” And a sensible tennis player focuses on just get the ball over the net. Leave the fancy stuff to others. Just get the ball over the net. Same thing with investing…just get the ball over the net and you will do just fine.
MC: So when the market goes down a lot of people get in that mode that they want to play catch up. But that’s where you can get yourself into a trap, because that’s taking you off your plan for the wrong reason.
Forbes: Yes and simple things. The miracle of compound interest does work if you let it. Dollar cost averaging, and that is so simple. That is, especially if you are a little younger. When a market goes down, that is your opportunity, because if you are putting in a certain amount of money, a hundred or two-hundred a month you’re in effect buying more shares. So when the thing comes back you will get a much bigger hit.
Reinvesting dividends and basic things like that. Again…stay away from the cocktail chatter. Don’t think of yourself as a Goldman-Sachs executive, you’re going to make $100 million. No, if you get that mentality, you are just going to frustrate yourself, and hurt yourself.
MC: That’s right, because it really is about your personal situation in the long run. And it’s hard sometimes to tune everybody else out and to tune out all of the noise. There is a ton of noise out there. But it really is an understanding of what your needs are.
Forbes: And if you at parties, and if we get in an environment again, which we might someday if you live long enough, where people start to boast about what investment genius’s they are. You are going to participate by citing the example of some others. “Oh yeah. Ed at the office, what a jerk, but he really hit a homerun on that.” Fine so you can participate in the conversation. You have to try to go out there and it the homerun. Let others try to swing. Most of the time they’ll strike out. They won’t tell you.
MC: And you know we have seen this cycle over and over again, where it’s the paper boy, the dentist and everyone giving you stock tips. That’s pretty much the call to get out right? When everybody else is telling you to buy. That’s when you bolt or at least have some sort of conservative position.
Forbes: Or the recent housing bubble when everyone becomes a real estate tycoon. You know something is probably wrong. And of you have that urge to be mad, to do crazy things, have a certain portfolio and money where you can play with it. But don’t do it in your IRA. Don’t do it in your 401k. those are things that you just want to be able to sleep on. If you lose your mad money fine, but your not jeopardizing something fundamental in the future. And as you get older, again, be disciplined on your retirement. Jack Bogle, created Vanguard, his rule of thumb is your age. If you’re 50, half of your investment, 50% of your investments should be in bonds, short term instruments. 60, 60%. So if something goes wrong with equity markets or the bond markets you have cover.
MC: And that I think is the best rule of thumb is to know that you have the conservative investment for a reason. If you have to take distribution on it, cash it in…you cash in the conservative investment. You don’t worry about if the stocks are up or down. If you they are down you can hopefully hold until they come back up again. You’re not forced to sell in a time you don’t want to. And I think that’s where people think well it’s just because bonds have a certain return. It’s gives you an out if you need money.
Forbes: And as you get older you have to look at things like annuities. Again, you don’t put everything in an annuity. You have to look at expenses. And a lot of them hit you pretty hard on expenses, so you have to do some basic homework. But having an annuity is not sexy, but it does give you some balance and a bit of an anchor if the storms rise up. And so be true to yourself and be realistic about what are you cash needs? The worst thing that can happen, and people went through it, and they are going to go through it again is…the market goes down and you need to raise cash.
It is a hideous feeling and you feel bad doing it. Then when the market comes back you say “oh my God I missed it” and you’re tempted to do something you shouldn’t do.

MC: The biggest knock to Wall Street…and as you know when everybody is getting rich no one is complaining about Wall Street, but when everybody is loosing money that is when they are complaining. The concern that I hear so often is that it is not just that they are doing something and are getting paid handsomely for it…it’s they are inventing the rules as they go and they have that unfair advantage. And therefore, when they fail, they should have been allowed to fail. Then there is this bailout where the small business man can’t be bailed out. And while the government did what it had to do in a tough situation, we didn’t want a global meltdown, there seems to be a lack of fairness in how the big banks are treated that they have unfair advantage. When the times are good, they make lots of money, but when times are bad — they don’t fail, they get bailed out.
Forbes: Well, they could not have done what they did, if the government hadn’t done what it did in printing the money or guaranteed the kind of paper that no banker would tolerate. And normally with a mortgage, you put 20% down. The government said 0% down. Well, don’t be surprised you are going to get some problems. Ignore somebody’s income, well that is something that you wouldn’t normally do. So…
MC: But where is the accountability?
Forbes: Well the accountability is…one, the government’s got to do its part. But having created the problem, then don’t compound it. Yes, we had to take emergency measures last fall, but that did not mean that the government had to come up with this too big to fail doctrine, which takes a handful of banks and makes them bigger…guarantees their paper in the marketplace to the disadvantage of somebody else. That’s profoundly wrong.
And there are some who see it. Paul Volker, former head of the Federal Reserve, now in his 80’s said this is ridiculous. This is distorting the system. So no…no too big to fail doctrine. And if that means you are not going to be able to make an acquisition because the government is not going to back stop you then so be it. So yes, the government has made it worse guaranteeing a lot of paper it shouldn’t have guaranteed and continuing to do so. Too big to fail…so if you are a certain size, government’s going to always be there to make sure you are alive. Whereas somebody else who is smaller…well sorry. No, stop it.
It’s like a natural disaster. A hurricane comes along, so you throw in the food, throw in the water, throw in the medicine, throw in the temporary shelter. Then you pull back as people start to get back on they feet. You don’t do it permanently. Well government’s got to pull back on that and too big to fail…is one of the biggest mistakes of this administration is going along with the too big to fail doctrine. No. You’ve got to know if something goes wrong, if the government won’t let the system collapse, but you as an entity will face the music broken up. And if that means creating a special bankruptcy law for financial institutions…You create it. But you don’t say…you’re too big to fail. No way.
MC: Any predictions for 2010?
Forbes: I think we’ll have some growth in 2010, but it is going to be a turbulent year. The dollar I think will be strengthened. Not because Washington suddenly sees the light, but the markets are going to force it. And so it is going to be a better year than 2009. But it should have been a much better year. So if the government immediately stabilized the dollar…oh that would go a long ways. Realizing healthcare with these 2000 page long bills…start over. Try to get some true entrepreneurship where people can create more healthcare.
You know in any other market…if there is a demand. If people want more software, Silicone Valley will turn out more software. Software writers will turn it out. Why can’t you have an environment where you do the same thing in healthcare and make it more affordable? As you did with cell phones. 20 years ago, these things were as big as shoe boxes, clunky. Hard to work. Today they are sleek, small, and everyone has them, even in the furthest reaches of Congo and Haiti…India. People do have their cell phones. So that’s the kind of environment we should encourage.
So 2010, better than 2009, or better than the fall of 2008, but it could be better. Like in sports…it’s like a ball player. Instead of hitting .150 he gets it up to .225. Better, but hey how about .300, .350.

These are hard times… everything I thought I knew… or had planned seems to be unraveling. Investments for retirement and my daughter’s education, even my career path seems to be a mess. The economy has created challenges and has forced me to rethink assumptions and on some days it feels like a giant dark cloud parked just above me. But these are the days that will define me. These are the days that I need to move past fear and accept the landscape has changed- permanently.

A recession is by definition,  a contraction of the economy. A depression – is a recession on steroids. A reduction in consumption leads to reductions in employment and often in prices because no one has any money. But when you think of the overconsumption, especially in the U.S. over the last decade, it had to crash.

USA: Consumption nation. Skip across the television dial — The Biggest Loser, Celebrity Fit Club, Bulging Brides, Nip and Tuck… is this who we have become, a freak show of overconsumption? The evidence of this affliction is everywhere, not just on TV, but also on the roads with our massive vehicles, the supersized retailers with endless aisles of needless junk. The constant cry for more was answered by willing manufacturers from all over the globe. Our spending spree was lining the pockets of capitalists from the deserts of the Middle East to the Middle Kingdom of China. And they kept the party going by buying up dollars, essentially funding the spree. But the ride is over. The chapter ends like any binge session, with regret and some pain. But tomorrow is a new day. Americans don’t have to be who we were. We can be better. Contraction doesn’t have to be a dirty word. We celebrate getting fit and dropping the weight… why not celebrate slimming down as consumers. Why not put our American and our global ingenuity into creating products and services that rise above simple consumption. What each of us take away from this period in our history is up to us. But I chose to look at this as an opportunity—to fine tune myself, my mission and what I worry about and more importantly what I celebrate. – Mary Caraccioli

You May have seen my one on one interview with Vince McMahon http://maryandmoney.com/videos/vince-mcmahon-talks-business/
He was all business in that interview. If you want to see the softer side of Vince, ask him about his family and ask his family about Vince.

I had the rare opportunity to spend the day with the entire McMahon family on their turf, the WWE studios in Connecticut. Fans of their shows may be disappointed, they are shockingly normal. I am guessing that one of the reasons they get along so well in real life, is that on TV they can be monsters to each other. Linda’s story has to be seen to be believed. Enjoy. -MC

Peer Pressure. You think once you are out of high school you never have to deal with it again? Wrong. When it comes to reigning in our spending our best friends can sometimes be our worst enemies. Why? Think about it, you know another dinner out—or another cute pair of shoes (even if they are 76% off) is exactly what you don’t need right now. You are trying to get your financial house in order, pay down debt, save for a down payment for a home, retirement. The extra shoes and the extra glass of cabernet won’t get you there. But your friends lay the guilt trip on you – “Come on. What is one dinner out going to do? We deserve it. We work hard and it’s raining outside.” You know the drill. Peer pressure. And yes, too often, we give in.

Arm Yourself:   I have a preemptive strike for you: A plan to say yes to the socializing, and no to the unnecessary spending. You take charge and invite your friends to take part in a little money therapy and have a fabulous dinner to boot.  Pick someone’s house (why not yours) and plan a fun session where you share you favorite money strategies, not just sob stories but ideas that could make both you and your friends financially stronger and start to build wealth.  To make sure your idea is irresistible, offer something great on the menu. If you don’t have a favorite dish, let me humbly offer my homemade Lasagna recipe (which you may claim as your own). You make the Lasagna (or whatever your specialty is), your friends bring the sides and the beverages and everyone bring ideas on how you can each become more empowered financially.  The meeting itself will save you the cash you would have spent out. But the bigger lesson is that you will, over time, begin to make each other more intelligent about money.

Rules of Engagement: No tips on shopping. Make the ideas more meaningful. Knowing you can save 75% on a pair of shoes you don’t need right now will not make you rich later. Learning how to lower fees, better structure retirement investments or better understanding all that stuff that gets taken out of your paycheck will help make you a more informed consumer. Tell the gang there is no such thing as a dumb question and there is no room for a know-it-all. That should keep the discussion civil and fun. 

Just between you and me, not everyone will be as open about sharing ideas right off the bat. Pressure to share can be just as scary as pressure to wine and dine or shop when you know it’s not in your best interest. Even if the conversation never gets to money, that is okay, because you have already saved the cash by creating a great night in. -Mary Caraccioli

 Mary Caraccioli’s Lasagna Recipe

Ingredients

• 6 cups of your favorite tomato sauce
• 1 lb fresh hand dipped ricotta cheese
• ½ lb fresh mozzarella cheese (shredded)
• ½ lb of smoked mozzarella cheese (shredded)
• ½ lb Parmigiano Reggiano cheese
• 1 lb hot/mild Italian sausage ground
• 4 freshly steamed artichoke hearts chopped
• ¼ cup fresh basil
• ¼ cup fresh parsley
• ½ tsp ground pepper
• salt and pepper
• 2 eggs
• fresh lasagna pasta

Baking Instructions

• Pre-heat oven to 350 degrees
• In skillet brown sausage and set aside
• In a large mixing bowl combine eggs, salt, pepper, chopped basil , ricotta, mozzarella and 2/3rds Parmigiano Reggiano
• Using 9×12 baking dish , coat with olive oil spray or other cooking spray
• Add 3 tablespoons of sauce
• Add 3 3×12 pasta sheets (adjust as needed depending on pasta size)
• Spread slightly less than half of the cheese mixture on first layer of pasta
• Top cheese with  ½ ground sausage
• Add half of the chopped artichoke
• Cover with another layer of pasta
• Use ¾ of remaining cheese mixture
• Top with remaining ground sausage
• Add remaining artichoke
• Cover with pasta
• Add remaining cheese mixture
• Add 1 ½ – 2 cups of sauce while spreading it evenly over the pasta
• Cook for 50 minutes to one hour
• Let stand for 10 minutes out of oven
• Top individual servings with additional sauce and grated Parmigiano Reggiano cheese
• Serves 6
• Mangia!

Names are tricky things. When I re-launched this website more than a month ago, I kept the name MaryandMoney.com. It was the name of my old site, which was strictly a vehicle to promote my television show.

This new venture is not about promoting a show, or touting a new product, it also isn’t really a financial site. I look at it as a community. A place where you can ask dumb questions, brag about an idea or come find a little inspiration to give you a kick in the butt to get out there and do your thing.  It is a place where money is part of the journey but not the journey’s end.

I don’t have any financial calculators, or tickers, you can find them at thousands of other sites, instead I want to help you find your best self; the one that can raise the cash you need to do what you want. Most of us don’t really need a mountain of money to be happy. But the reality is, almost everything in life has some money tie. So, I would rather you do well- than not. 

There is always a catch and here it is: If this is to be a true community, I need you. Without a community these words are worthless. I need your help to be relevant to you.  Please communicate with me in the way that is best and most comfortable for you. You can comment, or hit the “Contact” tab on the navigation bar or “Ask Mary” to email me directly. 

Money makes the world go round, so lets have fun talking about it — but lets not lose who WE are in pursuit of it.  -Mary Caraccioli

There is a tiny sprig of green in the clay pot on my patio. Last summer purple clematis flowers spilled from the pot and weaved in and out of the railings. They were the picture of abundance. In the cold of winter and the ruthlessness of the financial crisis over the last six months, I had begun to wonder if abundance could ever return to anything, including my small garden. There is a barren feeling that comes when jobs are lost and futures become murky. That feeling is intensified by the lifelessness of the winter months.

As I watch my plants return to life, I am reminded that the economy, my own and the world’s, will too return to life. The next logical question becomes, “when?” I say move past that question for now. Yes, I know, answering it correctly is akin to a winning lottery ticket. Lottery winnings aside, I believe the better question is, “am I ready for the rebound?” The world will be a different place because of this crisis. Listen to my conversation with Martin Wolf, to get a sense of why that is the case. (Permalink: http://maryandmoney.com/videos/martin-wolf/) Even if you have enjoyed full employment and steady business in this period, the world has changed. Are you equipped to be a success in that new world. What have you done in this economic contraction to make yourself and your business more important on the other-side? Instead of asking when will this end, start asking how strong will I be when it does? You control that outcome. Employed or unemployed, rich, or wiped out, you can still position yourself to be ready for the moment. In fact you may just be a catalyst for the moment, if you are getting ready. –Mary Caraccioli

Why does a high school wrestler have the top video spot on a money site?  It is a nice story, a kid works hard and his school gets some cash. But that is not the moral of this story.  Jake Kemerer is my nephew.  What I have learned from watching him achieve the highest honors in his sport is; success always has a price.  So often we want the success or the trappings of success but don’t want to pay full price. We want the good stuff, but we want it 50% off.  

Making money requires the same discipline and passion you find in a top tier athlete. I have watched Jake work hard at his sport since he was in elementary school. He was a good little wrestler. In Junior High School, his skill rose to a new level. He was really good and showed the discipline and passion needed to stay on that trajectory. By the time Jake entered High School, those of us who have watched him over the years, had no doubt he would rise to the top level of his sport.  He had grueling workouts and as people who follow the sport know, wrestlers count calories more closely than America’s Next Top Model. Supersizing meals, simply, is not possible when you need to make weight. 

Today, many of us open 401k and other investment statements and wonder where the nest egg went.  Career opportunities may appear to be thinning. We are realizing that creating wealth is not something that happens on autopilot. Creating, then maintaining wealth takes discipline, sacrifice and the determination to follow through even when the odds are against you.  It is not luck. It is work.  Like Jake, you have to really want it, or the effort won’t be worth it.  But if you do want it, and you are willing to work hard in a disciplined way, there is money to be made. It may be through investments, it may be through generating higher income, but the brass ring is there for those brave enough and dedicated enough to go for it. – Mary Caraccioli