In honor of April as Financial Literacy Month, NASFAA dispels award letter misconceptions. Students are not required to take all of the loans offered them. Calculate your true cost of college, rather than the school estimate in your aid award, and then…
Escrito por: Felix A. Montelara
Autor: Potencial Millonario
El Autor, Gabriel Gacia Marquéz recibió el premio Noble de literatura en 1982, Colombiano que disfruto su vida en México donde murió el miércoles. Marquéz es uno de los autores mas leído en el mundo, por su novelas geniales. Felix A. Montelara extiende sus condolencia al familia de Gracia Marquéz y al mundo entero por la perdida del gran autor.
Estamos en el mes de la educación financiera. En este episodio hablamos de los archivos mentales sobre la mente millonaria y la mentalidad pobre según Harv Eker, autor de los Secretos de la Mente Millonaria. También esta semana la secciones, “Lo que ustedes saber su dinero” y “Estirando su dolar”.
Watch this TED talk video it is pretty awesome. Good luck and I hope you go viral.
Felix A. Montelara
Author: Potencial Millonario
Do You Have What it Takes To Become a Financial Literacy Award Winner? Here Are The 2014 Education In Financial Literacy Education (EIFLE) Awards Winners
The Institute for Financial Literacy® 2014 Excellence In Financial Literacy Education (EIFLE) Awards winners are honored for their distinguished accomplishments in developing, implementing and promoting successful financial literacy education worldwide.
The EIFLE Awards were established in 2007 and have since become one of the most prestigious and sought after awards in the industry. Each year, the Institute for Financial Literacy presents EIFLE Awards to individuals and organizations that have shown exceptional innovation, dedication and commitment to the field of financial literacy education.
The work of these authors, educators, organizations and researchers inspires others to strive toward excellence as well, increasing the availability and effectiveness of financial literacy education in communities across the country.
I had the pleasure attending the Annual Conference on Financial Education. I met and interviewed some of the award winning individuals (see below) and I will make the interviews available in future blog posts and podcasts of The Potential Millionaire / Potencial Millonario – www.potentialmillionaire.net. In my conversations with the award winners it was made very clear that helping the underprivileged was a staple of their commitment to producing, teaching, and funding financial literacy programs. I learned that it was the core of their individual beliefs and corporate visions. On behalf of The Potential Millionaire, I congratulate and commend all of the EIFLE winners.
The Institute for Financial Literacy website can be reached at www.Financiallit.org for detailed information on the EIFLE awards. If you know any of the award winners or just wan to say congrats, please leave a comment below.
|For Profit Organization of the Year:||Organization of the Year, Corporate Leadership:|
| Instructional Game of the Year:Tabletop
|Nonprofit Organization of the Year:|
| Education Program of the Year:Children, General
Hartford Stage Financial Literacy Program
|Education Program of the Year:
Children, Financial Responsibility & Decision Making
| Education Program of the Year:Children, Income & Careers
CU 4 Reality™ Financial Education Program
|Education Program of the Year:
Children, Saving & Investing
Delaware BANK AT SCHOOL
| Education Program of the Year:Adult, General
Adelante con tu future, Educacion Financiera
|Education Program of the Year:
Children, Planning & Money Management
Youth Financial Camp
| Book of the Year:Adult, General
by Heidi T. Beckman, PH.D.
|Book of the Year:
by LaDonna Smith
Hon. John C. Nifo II
|Book of the Year:
Adult, Money Management
by Brian O’Connor
|Educator(s) of the Year:
|Educator(s) of the Year:
Nuevo estudio de MassMutual revela que la educación financiera y la planificación son clave para los hispanos alcanzar el sueño americano
Les persento la importancia de enseñarle sobre el Potencial Millonario que tenemos para lograr obtener el sueño Americano en nuestra familia. Es posible vivir aquí en los EE.UU y no tener deudas de crédito, vehículo, o hipoteca. Yo, Felix A. Montelara lo he logrado y es pero que usted haga lo mismo y pronto. Espero que disfrutes de la información de estudio por MassMutal y veas que todos tenemos Potencial Millonario.
Felix A. Montelara
Autor & Protagonista: Potencial Millonario
La encuesta también identifica la desconexión entre lo que los hispanos dicen y hacen cuando se trata de la planificación financiera SPRINGFIELD, PRNewswire-HISPANIC PR WIRE/ — Para los hispanos parece que la…
Posted By Felix A. Montelara
Author: Potencial Millonario
Boxing legend Felix “Tito” Trinidad is brought to his knees by a 68 million investment loss. However, the knockout blow may be the reported debt of approximately nine million dollars.
Felix Trinidad, in an attempt to be responsible with his assets obtained a brokerage firm, “Popular Securities,” to manage his well-earned fortune. Now I’m going to explain how it is possible to lose an estimated 68 million dollars even if it is invested by a third party and you (or in this case Trinidad) are not monitoring the account. According to reports, José ‘Pepe’ Ramos was assigned by Popular Securities to handle Trinidad’s account. Ramos invested most if not all the money in bonds, according to news reports in Puerto Rico. The truth is that until September 2013, this type of investment was not risky on face value. The problem began in September 2013 when the markets (Moody’s and the S&P 500) downgraded Puerto Rico’s bonds to junk bond status, hence reducing Trinidad’s wealth (fortune). It is said that Trinidad began to see losses in his statement. Really? Red flag, anyone?
The second problem is that if it is true that Ramos invested 100% of Trinidad’s money in bonds only, we can all see an issue with assets allocation. In lay man words, Ramos placed all the eggs in one basket (Puerto Rico bonds). The right thing to do was to diversify into many assets across the market and invest in several different market sectors, as I would say, “A little of this and a little of that.” Truth be said it is unknown at this time if Trinidad asked to be conservative with his investments, or even if Ramos was authorized to invest without Trinidad’s consent. No one knows why Ramos decided to place everything into bonds. It is true that before September 2013, Puerto Rico bonds had good ratings in the market and benefited from a triple tax exemption and could be enticing- or as I would say it would have been “sexy” to invest in them for any portfolio at that time; however, never at 100% of any portfolio.
One must understand that Trinidad is a former professional athlete and a marvelous boxing World Champion. He is not a finance expert. He took prudent steps to preserve his fortune but that was not enough. The last blow brings Trinidad to his knees by a man without gloves in a suit. The lack of basic personal finance education hurt Trinidad as much as it hurts everyone else. Trinidad would have most likely have avoided this type of situation if he was well trained in personals finances. Its like training for a championship bout and not knowing the opponent. It is alleged that Trinidad noticed losses on his statement. In the boxing world that is like telegraphing a cross punch. With personal finance training Trinidad may have seen the knee dropping blow coming his way. When Trinidad
received his earning statement reports with some personal finance training he could have determined that all the eggs were in one basket and we all know in personal finances that is not a good thing.
Also with a good personal financial education a millionaire worth 68 plus may have not carried with an estimated nine million in debts. Why would Trinidad? Anyone trained or educated in the basics of personal finance knows that the debt is the most powerful opponent, who most likely provides the knock out blow when you are already down on your knees. But as they say in my neighborhood: “to late,” the money was invested and lost. The only controversy is whether Ramos was authorized by Trinidad to place the eggs in one basket. Ramos, along with Popular Securities, will defend themselves as if they were in a championship bout and the truth will be known in court.
If you were in Trinidad’s shoes, would you have the know-how to foresee that ultimately it is your responsibility to watch over your money?
Finally, we are celebrating Financial Literacy month in April. Wise up! Get educated in personal finance and do not allow yourself to be victimized due to financial ignorance. Remember, we all have “The Potential Millionaire.”
En este episodio hablamos de la mentalidad millonario según T. Harv Eker autor del libro Secrets of the Millionare Mind. Explico paso a paso el secreto de como piensan los ricos versus la persona con la mentalidad pobre.
Los millonarios estadounidenses tienden una mano firme a sus herederos: Te ayudamos, pero abre tu propio camino
Dejan un legado que incluye dinero, pero se trata de mucho más que eso, según la encuesta de PNC – FILADELFIA, PRNewswire-HISPANIC PR WIRE/ — Más de cuatro de cada cinco millonarios estadounidenses (el 82 por ciento) coinciden…
In this funny and blunt talk, Larry Smith pulls no punches when he calls out the absurd excuses people invent when they fail to pursue their passions. (Filmed at TEDxUW.)
0:16I want to discuss with you this afternoon why you’re going to fail to have a great career. (Laughter)
0:25I’m an economist. I do dismal. End of the day, it’s ready for dismal remarks. I only want to talk to those of you who want a great career. I know some of you have already decided you want a good career.You’re going to fail, too — (Laughter) — because — Goodness, you’re all cheery about failing. (Laughter) Canadian group, undoubtedly. (Laughter) Those trying to have good careers are going to fail,because, really, good jobs are now disappearing. There are great jobs and great careers, and then there are the high-workload, high-stress, bloodsucking, soul-destroying kinds of jobs, and practically nothing in between.
1:11So the people looking for good jobs are going to fail. I’m going to talk about those looking for great jobs, great careers, and why you’re going to, why you’re going to fail. First reason is that no matter how many times people tell you, “If you want a great career, you have to pursue your passion, you have to pursue your dreams, you have to pursue, the greatest fascination in your life,” you hear it again and again and then you decide not to do it. It doesn’t matter how many times you download Steven J.’s Stanford commencement address, you still look at it and decide not to do it.
1:50I’m not quite sure why you decide not to do it. You’re too lazy to do it. It’s too hard. You’re afraid if you look for your passion and don’t find it, you’ll feel like you’re an idiot, so then you make excuses about why you’re not going to look for your passion. And they are excuses, ladies and gentlemen. We’re going to go through a whole long list, your creativity, and thinking of excuses not to do what you reallyneed to do if you want to have a great career.
2:13So, for example, one of your great excuses is, “Well, great careers are really and truly, for most people,just a matter of luck, so I’m going to stand around, I’m going to try to be lucky, and if I’m lucky, I’ll have a great career. If not, I’ll have a good career.” But a good career is an impossibility, so that’s not going to work.
2:37Then, your other excuse is, “Yes, there are special people who pursue their passions, but they are geniuses. They are Steven J. I’m not a genius. When I was five, I thought I was a genius, but my professors have beaten that idea out of my head long since.” (Laughter) Mm? “And now I know I am completely competent.” Now, you see, if this was 1950, being completely competent, that would have given you a great career. But guess what? This is almost 2012, and saying to the world, “I am totally, completely competent,” is damning yourself with the faintest of praise.
3:20And then, of course, another excuse: “Well, I would do this, I would do this, but, but, well, after all, I’m not weird. Everybody knows that people who pursue their passions are somewhat obsessive. A little strange? Mm? Mm? Okay? You know, a fine line between madness and genius. I’m not weird. I’ve read Steven J.’s biography. Oh my goodness. I am not that person. I am nice. I am normal. I’m a nice, normal person, and nice, normal people don’t have passion. Ah. But I still want a great career. I’m not prepared to pursue my passion, so I know what I’m going to do, because I have, I have a solution, I have a strategy. It’s the one Mommy and Daddy told me about. Mommy and Daddy told me that if I worked hard, I’d have a good career. So, if you work hard and have a good career, if you work really, really, really hard, you’ll have a great career. Doesn’t that, like, mathematically make sense?” Hmm. Not. (Laughter) But you’ve managed to talk yourself into that.
4:28You know what? Here’s a little secret. You want to work? You want to work really, really, really hard?You know what? You’ll succeed. The world will give you the opportunity to work really, really, really, really hard, but are you so sure that that’s going to give you a great career when all the evidence is to the contrary?
4:49So let’s assume, let’s deal with those of you who are trying to find your passion. You actually understand that you really had better do it, never mind the excuses. You’re trying to find your passion,and you’re so happy. You found something you’re interested in.
5:07I have an interest! I have an interest! You tell me. You say, “I have an interest!” I say, “That’s wonderful!And what, what are you trying to tell me? That you — ” “Well, I have an interest.” I say, “Do you have passion?” “I have an interest,” you say. Your interest is compared to what? “Well, I’m interested in this.”And what about the rest of humanity’s activities? “I’m not interested in them.” You’ve looked at them all, have you? “No. Not exactly.”
5:35Passion is your greatest love. Passion is the thing that will help you create the highest expression of your talent. Passion, interest — it’s not the same thing. Are you really going to go to your sweetie and say, “Marry me! You’re interesting.” (Laughter) Won’t happen. Won’t happen, and you will die alone. (Laughter)
6:02What you want, what you want, what you want, is passion. It is beyond interest. You need 20 interests, and then one of them, one of them might grab you, one of them might engage you more than anything else, and then you may have found your greatest love in comparison to all the other things that interest you, and that’s what passion is.
6:25I have a friend, proposed to his sweetie. He was an economically rational person. He said to his sweetie, “Let us marry. Let us merge our interests.”
6:40Yes he did. “I love you truly,” he said. “I love you deeply. I love you more than any other woman I’ve ever encountered. I love you more than Mary, Jane, Susie, Penelope, Ingrid, Gertrude, Gretel – I was on a German exchange program then.” (Laughter) “I love you more than — ” All right! She left the room halfway through his enumeration of his love for her. After he got over his surprise at being, you know,turned down, he concluded he’d had a narrow escape from marrying an irrational person, although he did make a note to himself that the next time he proposed, it was perhaps not necessary to enumerateall of the women he had auditioned for the part. (Laughter)
7:34But the point stands. You must look for alternatives so that you find your destiny, or are you afraid of the word “destiny”? Does the word “destiny” scare you? That’s what we’re talking about, and if you don’t find the highest expression of your talent, if you settle for “interesting,” what the hell ever that means, do you know what will happen at the end of your long life? Your friends and family will be gathered in the cemetery, and there, beside your gravesite will be a tombstone, and inscribed on that tombstone, it will say, “Here lies a distinguished engineer who invented Velcro.” But what that tombstone should have said, in an alternative lifetime, what it should have said if it was your highest expression of talent, was, “Here lies the last Nobel Laureate in Physics, who formulated the Grand Unified Field Theory and demonstrated the practicality of warp drive.”
8:36(Laughter) Velcro, indeed. (Laughter)
8:42One was a great career. One was a missed opportunity. But then, there are some of you, in spite of all these excuses, you will find, you will find your passion, and you’ll still fail.
9:03You’re going to fail, because, because you’re not going to do it, because you will have invented a new excuse, any excuse to fail to take action, and this excuse I’ve heard so many times. “Yes, I would pursue a great career, but I value human relationships more than accomplishment. I want to be a great friend. I want to be a great spouse. I want to be a great parent, and I will not sacrifice them on the altar of great accomplishment.”
9:52What do you want me to say? Now, do you really want me to say now, tell you, “Really, I swear I don’t kick children.” (Laughter) Hmm? Look at the worldview you’ve given yourself. You’re a hero no matter what, and I, by suggesting, ever so delicately, that you might want a great career, must hate children. I don’t hate children. I don’t kick them. Yes, there was a little kid wandering through this building when I came here, and no, I didn’t kick him. (Laughter)
10:23Course, I had to tell him that the building was for adults only and to get out. He mumbled something about his mother, and I told him she’d probably find him outside anyway. Last time I saw him, he was on the stairs crying. (Laughter) What a wimp. (Laughter)
10:39But what do you mean? That’s what you expect me to say. You really think, you really think it’s appropriate that you should actually take children and use them as a shield? You know what will happen someday, you, you ideal parent, you? The kid will come to you someday and say, “I know what I want to be. I know what I’m going to do with my life.” You are so happy. It’s the conversation a parent wants to hear, because your kid’s good in math, and you know you’re going to like what comes next.Says your kid, “I have decided I want to be a magician. I want to perform magic tricks on the stage.”(Laughter)
11:23And what do you say? You say, you say, “Umm … that’s risky, kid. Might fail, kid. Don’t make a lot of money at that, kid. You know, I don’t know, kid, you should think about that again, kid, you’re so good at math, why don’t you — ”
11:39And the kid interrupts you, and says, “But it is my dream. It is my dream to do this.” And what are you going to say? You know what you’re going to say? “Look kid. I had a dream once, too, but — but.” So how are you going to finish the sentence with your “but”? “… But. I had a dream too, once, kid, but I was afraid to pursue it.” Or, are you going to tell him this? “I had a dream once, kid. But then you were born.” (Laughter)
12:16Do you, do you really want to use your family, do you really ever want to look at your spouse and your kid and see your jailers? There was something you could have said to your kid when he or she said, “I have a dream.” You could have said, looked the kid in the face, and said, “Go for it, kid, just like I did.”But you won’t be able to say that because you didn’t. So you can’t. (Laughter)
12:59And so the sins of the parents are visited on the poor children. Why will you seek refuge in human relationships as your excuse not to find and pursue your passion? You know why. In your heart of hearts, you know why, and I’m being deadly serious. You know why you would get all warm and fuzzyand wrap yourself up in human relationships. It is because you are — You know what you are.
13:37You’re afraid to pursue your passion. You’re afraid to look ridiculous. You’re afraid to try. You’re afraid you may fail. Great friend, great spouse, great parent, great career. Is that not a package? Is that not who you are? How can you be one without the other? But you’re afraid.
14:07And that’s why you’re not going to have a great career, unless – unless, that most evocative of all English words – unless. But the unless word is also attached to that other, most terrifying phrase, “If only I had … ” “If only I had … ” If you ever have that thought ricocheting in your brain, it will hurt a lot.
14:48So, those are the many reasons why you are going to fail to have a great career, unless …
15:04Thank you. (Applause)