Submitted by wendii1 on
This week, Mark and Mike finished up our guidance on talking to uncommunicative directs, and why this isn't micromanagement. Mark and Wendii discussed investing your money after you've saved your emergency cushion. Please let us know your thoughts on these casts.
This is not MicroManagment ? In the eyes of the beholder ?
I can see where a Direct may see this as micro-management.
I can also see MT's point about how it is not.
Wouldn't it be difficult to even try to tell a Direct to adopt MT's view of what Micro-Managing is, and is not ?
How do we convince a Direct about the definition of micro-management ?
Does it even matter ? Sometimes it seems that the biggest fear some managers have is being accused of being a micro-manager.
I am also afraid of this, and MT is helping me get over this fear. Why ? Because there are actually micro-managers out there... and they don't get fired. So what is there to fear ?
The accusation really goes nowhere. Or Does it ?
I really miss the ability to read comments on specific podcasts grouped alongside the actual podcast page. That was a feature of the old MT website which doesn't exist any more. (There's pros to the new navigation as well, I'm not slamming anyone).
There seems to be a lot less commentary on this new website (if going by "recent forum comments" is anything to go by) than there has been in the past. Not sure why that is. Maybe not having the current week's podcasts on the home page doesn't give people a focus and new topic for discussion?
My 2 cents anyway.
The "Investing Your Money" podcast was very wise. I got lucky very early in my career (at 21) and met a financial planner who brought these concepts to life for me. I saved 10% of my income from the time I was 21 and by the time it came to get married and buy a house, I already plenty of deposit for the house. Starting early, using dollar cost averaging and the power of compound interest really works.
"The power of compound interest the most powerful force in the universe." -Albert Einstein
I agree with Mark
Being able to attach a comment directly to a podcast would be great. That way, if someone discovers a podcast 4 years after it aired, they have immediate access to the discussion that went along with it.
I find the saving advice absolutely spot on. I find the advice to invest in index funds extremely conservative. Safety comes with lower returns. Over 30-40 years, this can mean having to work an extra 2-4 years before comfortably retiring. I would not be supprised if Buffet says 'invest in index funds' every time he is asked because he is asked hundreds of times a week and this is a simple response that can avoid him having to spend any energy on the response and still appear to be helping.
That's just my 2cents.
FWIW - one of the world's leading decision researchers also did some academic studies about investing in index funds and found that they were one of the best investments a person can make over a long period.
I highly recommend Max H. Bazerman's "Smart Money Decisions:Why You Do What You Do With Your Money (and How to Change for the Better) ISBN-13: 978-0471411260 and ISBN-10: 0471411264.