A Quiet Fortune column: Six super tools that teach about investing | PostIndependent.com

A Quiet Fortune column: Six super tools that teach about investing

Terrie Drake
A Quiet Fortune

So, how do we become educated about finances? In my last column I said we should know at least the basics of investing … the hows and whys, the pros and cons of different investments. I’d like to make a few suggestions for people who are out of school and can’t take a class in personal finance.

As in most things, innovative education can take place in dozens of ways and by using dozens of tools. Here are six of my favorites. They are encouraging and to the point, and they don’t require previous degrees (or even much previous interest) in finance. From brief magazine articles to foundational workshops, one of these might be the resource for you.

Two magazines


Why I like this:

• It’s geared toward people like me: the normal worker or retiree who doesn’t have a degree in economics but who would like to understand more.

• Articles are actually fun to read, relevant, and usually include solid input from several experts.

• Both the online and print subscriptions are inexpensive.

Bottom Line Personal

Why I like this:

• I’ve learned plenty of things from this newsletter, from discounts and bargains I wouldn’t have been aware of to how I can guard against some little known health risk (and on and on).

• Sections are short, interesting, and penned by authorities in the field.

• The online version contains many free articles, including those concerning personal finance.

• One caution: Some customers mention a practice of “negative option billing” in which the company has sent them unordered books (as some book clubs do) then sent a bill. I have never had that happen, but also have not ordered any of the books they offer.

Two books

The Automatic Millionaire by David Bach

Why I like this:

• Bach’s books, of which this is his first, are quick reads that can inspire a person to start tucking some money away automatically.

• As the back cover says, “Bach’s easy approach to making your financial life automatic works while you sleep. All you have to do is follow his one-step program to financial security — the rest is automatic.”

• One caution: Some of his examples involve a return of 10 percent, which can be a bit unrealistic for the long run.

Investing 101: From Stocks and Bonds to ETFs and IPOs, an Essential Primer on Building a Profitable Portfolio, by Michele Cagan, CPA.

Why I like this:

• The title says it all. This primer is a compact way to get authoritative information in no-nonsense form.

• It provides handy, reliable answers to your “What the heck is …” and “How do I invest in …” questions.

Two Workshops in the Glenwood Springs area

Financial Peace

Why I like this:

• Dave Ramsey, who designed this workshop, is an internationally known author, speaker, and radio host.

• Offered by local volunteers, the class is based on Ramsey’s 7 Baby Steps to financial independence and includes videos hosted by him. His major premise is to show us how to get out of debt, build genuine financial security, and give to others.

• Several people I have talked with highly recommend the class. I’m enjoying it during this current session.

• A nine-week class in Glenwood Springs is going on now and can accept new students. Call 970-230-0568 for more information.

Colorado Mountain College workshops and classes on retirement

Why I like the one I attended:

• It was geared toward making sound decisions about how to retire well.

• It presented both basic information and new ideas I had never explored.

• The instructors taught us in a classroom group with well-designed materials, then met individually with each student in order to answer questions we might have about our personal situations.

• A class will be offered again in the fall of 2018. For more information contact CMC at 970-945-7486. You can also go online, contact other CMC campuses, or email me if you would like the name of the course I took.

I’d appreciate an email if you have other ideas I can pass along about how to find helpful information. Email me at draketerrie@gmail.com. Thanks.

Terrie Drake is the author of the book “A Quiet Fortune” and a retired teacher and librarian. She and her husband have lived in Glenwood Springs since 1974. She is not a financial adviser; consult a competent professional for your personal financial solutions. She can be reached at draketerrie@gmail.com.

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