Carlos Slim Still No. 1 Billionaire on Forbes List.

Image via WikipediaThis year again Carlos Slim is the wealthiest man on the globe. With over 74 billion, up 20 billion from last year, He has beaten out Bill Gates 30 billion again. But remember Bill has been giving his billions away lately, so he really can't keep up. But it's a shame that Mexican billionaires are needed to do work that American billionaires just won't do.

Forbes list tells us that there are 1,210 billionaires hanging around and the U.S has 413 of them. Our lead in billionaires is on the decline. During the year, 23 new billionaires were created in the U.S., in large part from the increasing paper value of social-media site Facebook. Meanwhile, China added 54 billionaires and Russia, 31. Moscow is the home to 79 billionaires, beating out New York with it's 58. Russia has 115 billionaires and the numbers are growing because the fortunes were born on the rising of commodity prices. With Russia being a bread basket of commodities for the next 100 years, we are seeing a shift from domestic to foreign money sources.

What does all this mean to us today? Nothing for today's citizens but it could be the early signs of a fundamental shift of wealth, power and influence to non-U.S. sources.

Let's face it the globe has been dominated by U.S. wealth and influence for the last 100 years. We are a benign world super power with military bases in over 100 countries. Our economy and dollar is the go to economy when you want security and capital. But maybe not much longer. There are a few new kids on the block who are looking to take their turn on the world stage.

I wrote in another post how this century will belong to Asia, according to investor Jim Rogers. The rest of the world is catching up to the U.S. in terms of finances and innovation. Soon we will not be seen as so powerful anymore.

I can't predict if these changes are good or bad but just that they are happening.


Reader: How do you see it?

Charlie Sheen's 5 Tips To Dealing With Difficult Co-Workers

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Charlie Sheen has finally been fired from his hit show "Two and a Half Men". Over the last few weeks, we have been witness to the rantings and diatribes of Mr. Sheen and have learned quite a few tips on how to deal with difficult co-workers.

We have seen Charlie divorced twice, in the company of porn stars, taken to the hospital because of drug overuse, and domestic violence. All of this has been on display in the press for several years. Yet he wasn't fired. These incidents are very serious and grounds for termination in many companies, but not CBS or Warner Bros. What did it finally take to finally fire Charlie Sheen, he insulted his bosses.

In companies, like families, there is going to be conflict. To make it worse the TV industry has people with large egos backed up by large check books. This gives people a false sense of importance.

Here are 5 tips I have learned from Charlie Sheen's troubles to make it a little easier to get along with that pain in the @$$ at work. Don't waste energy having a breakdown on account of someone you can't stand. Be ready and proactive in the office environment.

Dealing with Co-Workers Tip #1: Be prepared for Conflict

 If you have people in the organization who are difficult, be prepared for a potential situation. If you don't you may react with anger or some useless childish behavior that will only make the situation worse.

It may help to practice a potential argument in your head to get ready for the situation. Listen to what your saying to see if it comes across as immature or foolish. Also remember to not be wishy-washy, uphold your morals and values. Don't be arrogant but be self-confident. And by all means don't let the person get under your skin, be ready for cheap shots.

Your job is already quite stressful with deadlines and difficult bosses. Not getting along with co-workers makes your job ten times more difficult. You have no choice but to try and get along, or just change jobs.

Dealing with Co-Workers Tip #2: Don't fuel the fire.

If tempted to retaliate, don't. People who cause tension and confrontation also thrive on it. They feel powerful with an exchange of harsh words. Don't get sucked in, you'll only look like the bad guy. Instead react in the opposite way they expect, be nice to them. It drives irrational people crazy. You'll either become friendly with them or drive them away.

Dealing With Difficult Co-Workers Tip #3: Lend a Helping Hand

It may not work in all situations but difficult people may be just a troubled person or someone with poor social skills. They end up making enemies instead of friends because they have money problems or marriage problems at home. This makes them an actual miserable person to be around. They may not be justified in mistreating you, but at least you know why they act the way they do.

Dealing With Difficult Co-Workers Tip#4: Get a Third Party Involved.

No matter how hard you try you may just not be able to get through to the person. This is when you get a neutral party to help. They can listen to both sides and try to find common ground.

Dealing With Difficult Co-Workers Tip#5: Move On

You tried your best and nothing worked. You will reach a point where it's not going to be resolved. If one of you doesn't move on your going to have to suck it up or quit. If this treatment by the person effects your productivity it could he considered grounds for termination. But before all this occurs be careful in examining your own behavior and if your doing the right things. Most of all don't ignore the situation it will only get worse.

We haven't seen the last of Charlie Sheen. He will continue to lash out at his former bosses, sue them, and probably win. CBS will replace Charlie with another actor, but the show will flop and Charlie will feel vindicated. 

Charlie, why not just take the goddesses on a vacation far away and let everything cool down. Especially you.

Would You Move To Another Country If It Meant You Would Prosper?

Image via WikipediaFamed global investor Jim Rogers says if you want to prosper in the 21st Century, move to Asia. You may not know that Jim Rogers has put his money where his mouth is and did move to Singapore in 2007. He is raising his two little girls there and making sure they learn Mandarin. He is very bullish on Asia and says it's the place to be for the 2000's. He says it's not only for the success of his own assets. But for positioning his heirs for success.

He stated:

"In 1807, if you had moved to the U.K., you and your heirs would have been much, much better off for the next 100 years. If in 1907 you had moved to the U.S., you and your heirs would have been much better off for the next 100 years. 

In 1907, if you had stayed in Poland or China, you would not have had a great future, nor your families. Had you moved to America, [your descendants] would have had a much better future. Who knew what they would do, if they would become doctors or what, in the next 100 years. But whatever happens to them, they were better off. They spoke English, which became the world's language. 

My view is that the 21st century is going to be the century of Asia, of China. If I'm right about the future, you are going to have a better life [if you move there], better opportunities, and better everything going where the action is, where the assets are."

In my view, moving to Asia in 2007 means my heirs are going to be much better off in the next 100 years.

A thoughtful explanation of the last 2 centuries of history. But will it happen again in Asia? Jim Rogers is wealthy enough to move wherever he wants. Also he can do business from any part of the world. But Asia is where the action is for the 21st century, he claims.


Think for a minute, would you leave the U.S and move to another country for financial gain? We know millions that have left their country and traveled to the U.S. They did it for a better future for their family. It's the same idea Jim Rogers is talking about. Is he so wrong to do the exact thing?


Could you pick up and leave the U.S. Many already live abroad and are happy doing it. At first it seemed I didn't think I could make the leap. If offered an enticing job abroad, would I go for it? I don't know. What do you think? Would you ever leave the U.S.?

Why Good Credit Still Matters in Retirement

You may think you are sitting pretty with a nice retirement fund and not much time left before punching the clock for the last time. With your home paid for and your other financial affairs seemingly in order, it may seem like the only thing to do is sit back and enjoy the ride.

However, the road to retirement is just not that simple, especially these days and if you happen to have less than desirable credit. Even if you don’t foresee the need to take out a personal loan or finance a new car, it is essential that you stay on top of your finances and ensure you have nothing but the best of credit no matter where you are in life.

Your Credit History is Your Future

Credit scores and personal credit history reports are the hallmark of how you manage your money and your credit. During your working (and younger) years, you may have had a few mistakes that cost you some points on your credit scores. Even if you have managed to maintain your finances, the changes in the credit industry may have also caused your credit score to become lower. There are now new standards to follow in the credit industry and lenders are even more stringent than ever and require a much higher credit score than consumers could get away with in previous years.

These changes matter to you especially if you are planning to seek any type of credit in the future. But they also make a difference if you have no need for financing. These days it is well beyond the scope of good lending practices for having good credit. There are now other entities that lean on a person’s credit score for a variety of reasons.

Who’s Asking for Credit Checks?

As you approach the age of retirement, you likely have been working to pare down your expenses on every level. With a credit score that is less than perfect, you may end up paying way more than you can afford in your budget for a number of things. There are several relevant industries that will use your credit score to make decisions. These sources include:

·         Landlords/Property Managers - If you are planning to downsize and move out of your home in order to rent in a retirement-type community or just to a smaller place, your application may not get approved if you have a bad credit history. Since your ability to handle money is represented in your credit history and calculated score, a low score can signal to these rental agents that you may not be reliable enough to meet rental obligations regardless of how much you have saved for retirement.

·         Insurance Companies – If you own a home and/or drive a vehicle, you will continue to need auto insurance. The insurance agent will often pull a credit check on you in order to give you a premium rate. Those with lower credit scores will have to pay a higher premium rate than others with better scores. Insurance companies, like many other businesses, have made a correlation between people with bad credit histories and the amount of claims they file in a lifetime. Essentially, a bad credit score represents risk to the insurance company. In turn the insurance company will be sure to charge you additional money to cover that risk.

·         Part Time Work – Even in retirement, many people still are content to work part time as a way of earning extra cash or in order to get out of the house on a regular basis. Employers, even those who are hiring for part time positions, often run credit checks on applicants. If you are up against someone who has perfect credit, you may lose out to the other applicant. This is especially true if you are working in any type of financial position or are applying for any type of government job.

As we get older, our financial priorities do get more refined. We know more about what we need to do to become and stay financially stable. It is important to always stay on top of our credit scores even if we don’t think we need financing for any reason. Regardless of how much money you have in your retirement accounts, it is that little three-digit number which can have a huge impact on your life just when things start getting good.

Be sure to keep requesting the free annual copy of your credit report and make sure your information is correct. Be on the look out for fraudulent use of your identity on those reports and dispute any incorrect information as soon as you spot it. If there is erroneous information, look into credit repair. It is your financial obligation to ensure your credit report is as healthy as it can be and regular follow up is highly recommended.

This was a guest post by Ed O'Brien. Ed O’Brien is a seasoned writer with a strong background in business and personal finance. His blog, Credit Repair, offers free advice to those seeking ways to improve their credit scores.

What is Student Loan Forgiveness and Where Can I Apply?

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Your just out of college and you have a large student loan. What can you do about. Under certain circumstances the federal goverment will cancel all or part of you student loan. This is what "Loan Forgiveness" is. To qualify you must do one of these four things:

• Perform volunteer work.
• Perform military service.
• Teach or practice medicine in certain types of communities.
• Meet other criteria specified by the forgiveness program.

Volunteer Work

These volunteer organizations offer loan forgiveness:

AmeriCorps. Serve for 12 months and receive up to $7400 in stipends plus $4725 to be used towards your loan. Call 1-800-942-2677.

Peace Corps. Volunteers may apply for deferment of Stafford, Perkins and Consolidation loans and partial cancellation of Perkins Loans (15% for each year of service, up to 70% in total). Volunteers make a real difference in the lives of real people with two years of service in more than 70 developing countries. Contact the Peace Corps at 1111 20th St., NW, Washington, DC 20526 or call 1-800-424-8580 or 1-202-692-1845.

Volunteers in Service to America (VISTA). Volunteer with private, non-profit groups that help eradicate hunger, homelessness, poverty and illiteracy. Provide 1700 hours of service and receive $4725. Call 1-800-942-2677 or 1-202-606-5000.

Military

Students who are in the Army National Guard may be eligible for their Student Loan Repayment Program, which offers up to $10,000. (Note, the military and veterans' associations provide many scholarships and tuition assistance programs.

Teaching

Students who become full-time teachers in an elementary or secondary school that serves students from low-income families can have a portion of their Perkins Loan forgiven under The National Defense Education Act. This program forgives 15% of your loan for the first and second years of teaching service, 20% for the third and fourth, and 30% for the fifth. Contact your school district's administration to see which schools are eligible.

Legal and Medical Studies

Many law schools forgive the loans of students who serve in public interest or non-profit positions. For more information, contact Equal Justice Works (formerly the National Association for Public Interest Law) at 2120 L Street, NW, Suite 450, Washington, DC 20037-1541 (phone 1-202-466-3686 or fax 1-202-429-9766). The American Bar Association (ABA) also has a summary of Loan Repayment Assistance Programs (LRAP) and State Loan Repayment Assistance Programs.

The US Department of Health and Human Services offers loan forgiveness programs through the National Health Service Corps and the Nursing Education Loan Repayment Program. These programs offer loan forgiveness to physicians and registered nurses who agree to practice for a set number of years in areas that lack adequate medical care (including remote and/or economically depressed regions).

The US National Institutes of Health's NIH Loan Repayment Programs repays up to $35,000/year of student loan debt for US citizens who are conducting clinical medical research.

The US Department of Agriculture's Veterinary Medicine Loan Repayment Program (VMLRP) offers loan forgiveness of $25,000 per year for three years for veterinarians who commit to work in a veterinary shortage area for three years. The application deadline is June 30.

If you're a California resident, contact the Office of Statewide Health Planning and Development (State Loan Repayment Program, 400 R Street, Room 330, Sacramento, CA 95811; 1-916-326-3745). Other states may have similar programs.

Many hospitals and private healthcare facilities use loan forgiveness to recruit occupational and physical therapists. Contact the American Physical Therapy Association (1111 North Fairfax St., Alexandria, VA 22314-1488; 1-800-999-2782) or the American Occupational Therapy Association (P.O. Box 31220, 47200 Montgomery Lane, Bethesda, MD 20824-1220; 1-301-652-2682).

Other loan repayment programs for medical school students include:

• Nicholas J. Pisacano MD Memorial Foundation Inc. (American Board of Family Practice)
• American Academy of Family Physicians Foundation
• Disadvantaged Health Professions Faculty Loan Repayment Program
• Indian Health Service (IHS) Loan Repayment Program
• US Air Force, Army, and Navy Financial Assistance Programs
• The American Association of Medical Colleges (AAMC) maintains a database of state and other loan repayment programs for medical school students.

Other Paths to Forgiveness

Students who receive the Michael Murphy Loan to study law enforcement, law, probation and parole, penology, or other related fields are eligible to work off one-fifth per year as a State Trooper (or related law enforcement official) in Alaska. Contact the Alaska State Troopers, Director's Office Scholarship Fund, 5700 East Tudor Rd., Anchorage, AK 99507; 1-907-269-5511.

Maryland state and local government employees who earn less than $40,000 gross annually may be eligible for a loan assistance/repayment program to study law, nursing, physical and occupational therapy, social work and education. Contact the Maryland State Scholarship Administration, 16 Francis St., Annapolis, MD 21401; 1-410-974-2971 x146.

Federal Government Loan Forgiveness Programs

Perkins loans and Stafford Loans can be cancelled for full-time service as a teacher in a designated elementary or secondary school serving students from low-income families, special education teacher (includes teaching children with disabilities in a public or other nonprofit elementary or secondary school), qualified professional provider of early intervention services for the disabled, teacher of math, science, foreign languages, bilingual education, or other fields designated as teacher shortage areas, employee of a public or non-profit child or family service agency providing services to high-risk children and their families from low-income communities, nurse or medical technician, law enforcement or corrections officer, staff member in the educational component of a Head Start Program, service as a Vista or Peace Corps Volunteer and service in the Armed Forces (up to 50% in areas of hostilities or imminent danger)

These are but a few places that may suit your needs to help you pay back your student loans. There are more depending on your occupation.

Related articles

• Student Loan Forgiveness (studentloans.net)
• The Top 10 Student Loan Tips for Recent Graduates (education.com)
• Defer Student Loan Payments to Stay Afloat (usnews.com)

My Daughter's Used Car Lives On - Part 2

Image via WikipediaIt was two months ago when the subject of my daughter's possible used car purchase came up. I wrote a post describing it called "She's Buying a Car, What's Better a Rebate or Low Interest? Help Dad." In said post I described how the bane of my daughter's transportation life was starting to cough and sputter like never before. The question of replacing the 200,000+ miles 1999 Mitsubishi Galant was brought to the forefront, again.


We went shopping and got some prices but we never pulled the trigger on the purchase because with a little tinkering by a friendly, trustworthy mechanic ole' Betsy lived on another day. Till this day it's a miracle that the car is running. I am "AMAZED".


The decision has been made to wait and play it by ear till the car finally and forever packs it in. I am proud of my daughter for not having car fever and patiently waiting. Must take after Dad. 


My daughter has her used car fund in place and it's growing every month. It's fascinating that this car is running and running well. Over the years belts, gaskets, timing belts, and other minor service has been done. Yet it still has the original power train. It says something for the car makers.


I drive a 2001 Ford van with 125,000 miles on it and feel challenged to see if I can get that odometer up to 200,000 or more. The notion of driving  used cars with these kind of numbers has not been in our lives before. But with the recession and business problems, a new purchase is out of the question. In the old days I would be worried when the odometer got to 50,000 miles. Not any more.


If there has to be a bright side to this recession it's that we are relearning grandma's and grandpa's frugal ways that they learned in their depression. I can tell you that those lessons were always a part of their lives. It always stuck with them to pinch every penny and spend wisely.


Someday the next generation will point at us and what will they say. Will they say we remembered the lessons learned or did we cast them aside when things got good again. For me and mine the lessons are now a way of life. 


How about You?