It seems that the Mathmatecum just started but in reality, this is the fourth yearly distribution that is underway. Three of the first-year members had a maximum cost of membership at $125.00 and they have now received an 8.2% return to date! Our oldest member has recouped their entire cost of membership. The last of the checks will be mailed out this week on the 18th, almost a month early. A good deal of time and labor was required to accomplish this feat. We here at the Mathmatecum are working to refine our processes without violating mandates.
When reading consensus views of financial planners, the planners assume their audience to be out in the world working people who need financial planning assistance. My focus in teaching financial planning is more basic. Knowing that too many youngsters and their elders are unbanked is where I start. Fresh out in the workforce a person should have a lifetime goal when it comes to personal finances. A not so easy guide to try to achieve but one to truly aspire to is as follows. 50% essentials [“the heat, the light, the rent, and the water”],30% nonessentials and 20% savings. Every person’s circumstance being different you must design how you handle your finances from day one. To create savings, one must sacrifice. I start with one weekly sum that is equal to one hour’s minimum wage or the wage you are receiving. There are still 20 states where minimum wage is still $7.25. AT that rate of savings one should have saved $125.00 after 18 weeks! Start this week and then return to this blog next week to learn about step two.
BIO
From 1952 until 1954 I still lived in Paterson NJ, and I have so many memories of those days! Of course, the chronology of most of it escapes me so I will write what I recall for my progeny.
Life started for me at St Joseph’s Hospital. I lived at 48 Oak St. in a six-family tenement with the one of three fire escapes in the neighborhood. The apartment was four rooms and a bath, it was on the second floor. The apartment was across from my grandparents’ place where my bachelor uncle (an Ophthalmologist) also lived. My mother’s other brother also lived in the building. Though I have no recall of it- my mother’s sister also lived in that building at one time. The building once housed a bakery and had a small, cemented backyard that was accessed through an alleyway. At the very back of the yard was a garbage shed that while trying to climb one day, I drove a rusty nail through my hand. I recall going to the ER where I was given a tetanus shot. I spent the next two weeks in bed with a paralysis that alternated between my upper and lower extremities, fortunately there were no lasting consequences! The condition was called Guillain-Barre Syndrome.
JAI BABA
TTFN
JU
