February 1, 2017

http://www.daveramsey.com/blog/how-teachers-can-be-millionaires

“Money is a wonderful servant but a terrible master,” says 72-year-old Terry. This retired teacher grew up on a farm in Minnesota and never made more than $50,000 per year in her career. Today, her net worth is $1.4 million. Terry advocates changing your mindset. Especially through finding a mentor and creating and following a plan and a goal. Her vehicle of investing was mutual funds. I recommend becoming familiar with all four known asset classes and being focused yet diverse. It’s important to create value, add value and share value. Use your mind and creativity, and when you feel overwhelmed seek help. At the end of today’s blog, I’ll include Terry’s video feature from the Dave Ramsey show.

https://www.bloomberg.com/news/articles/2017-01-31/the-2-trillion-woman-who-s-turning-around-pimco

Walk down a side alley in Munich, beneath apartments with net curtains in the windows, past figures of female superheroes on a cafe storefront, and you come to the unprepossessing headquarters of a $2 trillion asset manager. On the fifth floor, an elegantly dressed woman leans forward to field questions. She’s focused. In her hands is a coffee mug emblazoned with the word “integrity” in six languages. Jackie Hunt is one of the most important women in global finance. She oversees Allianz’s asset management and U.S. life insurance divisions. In July, she took over responsibility for Pacific Investment Management Co, and Allianz Global Investors. A trained accountant with little background in money management, she’s taken on a formidable challenge. The industry is under pressure to consolidate as fees decline, ultralow interest rates erode returns, and investors abandon active managers for low-cost passive strategies. Pimco, the firm based in Newport Beach, Calif., that Allianz bought in 2000, could hardly loom larger on her agenda. Three years of bleeding have cut Pimco’s assets by about a quarter, to $1.47 trillion. The article itself is interesting, because it tracks her career to her current position, and explores her strategy for Pimco and AGI. Toward the end of the interview, Hunt talks about how being a mother of two teenagers has taught her patience. She says she likes to know what makes people tick. She’s also learned that being dogmatic creates unnecessary conflict. Only time will tell if these life skills prove useful in overseeing her new charges.

If you need are interested in creating a budget, then contact me for a financial checkup in the contact me section.

For this week, I’ve included Millionaire – Terry from Colorado Springs, CO from the Dave Ramsey Show YouTube channel.

“If you think you know it all, you’re a fool for sure; real survivors learn wisdom from others.” Proverbs 28:26 MSG

 

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