Here is another posting that really doesn't have
anything directly related to self-directed IRA and 401(k)s, but I found it of
interest and wanted to pass it along.
In an article by Michelle Archer for The USA Today (May 19, 2008), Archer's piece is on the Susan McCarthy book The Value of Money, McCarthy explains that how we feel about money actually tells both us and others a lot about how we are as people and how we define ourselves.
McCarthy, through her professional work experiences at Morgan Stanley and Wachovia Securities, realized that there are 7 types of relationships that people have with their money....or lack thereof.
1. Money is King -- This type judges themselves and others by how much money they have.
2. Little Lambs -- This type of person has a childlike relationship with money. They tend to take the approach of "I'll think about it tomorrow."
3. I'll Pick Up the Bill if You Just... -- This person uses money to manipulate others.
4. Wolf Never Leaves My Door -- No matter how much money this person has, they always feel poor. Fear dominates their view toward money, fear of running out of money, fear of losing it and fear of someone else taking it.
5. The Money Martyr -- McCarthy states that this person is bent on being a victin. Money can easily provide the means for self-sabotage. It is an undesireable type of relationship that can easily be passed on to children.
6. All is Well -- These people appreciate money for what it is....no more and no less. It doesn't matter if they are wealthy or poor.
7. Spread the Joy -- I don't even think there is any further explanation for the wonderful people who feel that money is in their lives to do good things.
In an article by Michelle Archer for The USA Today (May 19, 2008), Archer's piece is on the Susan McCarthy book The Value of Money, McCarthy explains that how we feel about money actually tells both us and others a lot about how we are as people and how we define ourselves.
McCarthy, through her professional work experiences at Morgan Stanley and Wachovia Securities, realized that there are 7 types of relationships that people have with their money....or lack thereof.
1. Money is King -- This type judges themselves and others by how much money they have.
2. Little Lambs -- This type of person has a childlike relationship with money. They tend to take the approach of "I'll think about it tomorrow."
3. I'll Pick Up the Bill if You Just... -- This person uses money to manipulate others.
4. Wolf Never Leaves My Door -- No matter how much money this person has, they always feel poor. Fear dominates their view toward money, fear of running out of money, fear of losing it and fear of someone else taking it.
5. The Money Martyr -- McCarthy states that this person is bent on being a victin. Money can easily provide the means for self-sabotage. It is an undesireable type of relationship that can easily be passed on to children.
6. All is Well -- These people appreciate money for what it is....no more and no less. It doesn't matter if they are wealthy or poor.
7. Spread the Joy -- I don't even think there is any further explanation for the wonderful people who feel that money is in their lives to do good things.