I heard Is Having Grit The Key To Success? on NPR. Call it grit, or perseverance, or just keeping at it. It’s said to be the key to success.
It’s hard to prove. The key? Probably not. A key factor? I think so, but I doubt the accuracy of the grit score based on self-assessment.
I would note people coming from a harsher environment, for instance immigrants from developing countries, tend to have more grit, because it’s the only way out. If you give up too easily, you don’t get a second chance.
I also read these good articles this week:
PenFed May Hike 5- and 7-Year CD Rate in December by Ken Tumin at DepositAccounts.com
Great new if true. When you can get a 5-year CD at 3% versus a total bond market mutual fund having its SEC yield at 2.2%, it’s really a no-brainer to go with the CD.
Same as it ever was by Fran Kinniry at Vanguard Blog for Advisors
Always be very careful when you read reports about cash flows into stocks and bonds. Yes, the numbers look large but they are actually very small relative to the amount already invested. A 10-foot wave looks huge when you are close to it. When you step back and look at the ocean, you can say the ocean is flat for the most part.
Debit Card Dangers – When to Use Credit Cards Instead of Debit Cards by Ken Tumin at DepositAccounts.com
I’m getting the hang of using a debit card now that I have a reward checking account. I think the danger of using a debit card is greatly exaggerated. If ever a fraudulent transaction comes in, I’m confident I will get my money back. At worst it’s a cash flow inconvenience; I won’t really lose money. The high interest I get month after month makes it worth that remote possibility.
Variable Spending Strategies by Wade Pfau at Wade Pfau’s Retirement Researcher Blog
Professor Pfau reviews research on variable spending strategies. I think in the real world everybody uses a variable spending strategy.
Vanguard proposes flexible way to determine retirement paycheck by Steve Vernon at CBS MoneyWatch
Here’s another variable spending strategy.
Remember health insurance before Obamacare? by Nancy Metcalf at Consumer Reports
Exactly. She’s talking about the individual health insurance market. It was a much bigger mess.
[Photo credit: Flickr user Dangerously Fit]