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Yahoo! Finance New Columnists
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Listed rather prominently on the Yahoo! Finance homepage is the announcement of eight new columnists (though nine biographies are listed, I’m assuming Suze Orman is considered an “old” columnist). If you look at the biography list, it has a few of the recent personal finance highfliers – David Bach of The Automatic Millionaire fame, Robert Kiyosaki who authored Rich Dad, Poor Dad, Suze Orman, Jeremy Siegel (Stock for the Long Run) and famed television star – Ben Stein. Three of the nine have Ph.D.’s, most of them have written a book or two, and each will probably be able to provide a good reason to return to Yahoo! Finance after the market closes. The ones I didn’t immediately recognize include Professor Charles Wheelan (he wrote Naked Economics), Laura Rowley (author of Money & Happiness: A Guide to Living the Good Life), Ken Dychtwald (he’s written a bunch of retirement books), and Daniel Pink (he wrote A Whole New Mind). If you have the time I suggest hopping on over as each one has written an introductory post to give you a taste of what he or she will be trying to offer. It’s rare that you get in at the ground floor of a column but here’s your chance.
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I should be added to that list of columnist as I write thought provoking financial articles. Here is one:
Hold the Dollar Rule Your World
Today, all Americans are engrossed with the news reports of the stock market decline. You’ve heard the news reports and said to yourself “ I’m glad I am not obsessed with money like the rest of the country.” The question you should be pondering is “Why is our country obsessed with the stock market?”
The stock market represents the bedrock of American society – capitalism. The stock Suppose an individual invested $1000 a year every year from 1925 to 2000 in companies that revolutionized the 20th century – AT&T, Ford, General Motors –, their estate would have grown to more than $$69,559,828. (This assumes no additional deposits and an average rate of return of 12.70%)
The average American enjoys enormous accumulation of wealth/capital/money via the stock market. This wealth/capital/money has given them freedom; hence they are very concerned about the upward and downward spiral of the market.
You are thinking “Freedom?! How can money bring freedom? We have freedom given to us by the Constitution.” Yes, we have implied freedom, yet the magnitude of freedom an individual or family enjoys can be directly related to their wealth ranking in society. This philosophy has been fundamental in America.
Case in Point #1 Ross Perot. Perot utilized his millions to establish a separate political party to steal Liberal Republican votes from George Bush causing him to lose his bid for presidential reelection. Could an ordinary person do that?
Case in Point #2 Oprah Winfrey. Who would have imagined that middle class, female Caucasians would hang on the every word of an African American spokesperson like Oprah. Their love for her has afforded her the title—“The Richest Woman in Showbiz.”
Despite the fact that all Americans have freedom, the degree of freedom is not the same. All of the individuals in these cases illustrated have the ultimate freedom to do what they want, when they want to, where they want to. In essence, if you “hold the dollar” you have the freedom to “rule your world.”
Ida B. Byrd-Hill is the President of Uplift Inc. and http://www.livinginstyleonline.com. She was the President of The Harvard Group Wealth Management L.L.C. for 10 years. She created investment portfolios, insurance plans and residential/ commercial financing. She is President of She has served as guest columnist for the Michigan Front Page for 2 years and a speaker for the Better Investing television show hosted by David Chilton, author of The Wealthy Barber.
I just finished reading Naked Economics the other day and enjoyed it. While it seems to have a right-leaning slant, it really made me think about economic issues in a new way. I look forward to his column in particular. I’m also interested to see Kiyosaki’s column, since he seems to be a love-hate character in the personal finance world.