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December 2, 2014

Jonathan Tobin: Defending the Right to a Jewish State

Heather Hale: Compliment your kids without giving them big heads

Megan Shauri: 10 ways you are ruining your own happiness

Carolyn Bigda: 8 Best Dividend Stocks for 2015

Kiplinger's Personal Finance editors: 7 Things You Didn't Know About Paying Off Student Loans

Samantha Olson: The Crucial Mistake 55% Of Parents Are Making At Their Baby's Bedtime

Densie Well, Ph.D., R.D. Open your eyes to yellow vegetables

The Kosher Gourmet by Megan Gordon With its colorful cache of purples and oranges and reds, COLLARD GREEN SLAW is a marvelous mood booster --- not to mention just downright delish
April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review

Wealth-Building Secrets of the Millionaire Next Door

By Kiplinger's Personal Finance editors






JewishWorldReview.com | We all know somebody like Mitch, your mass-commuting, brown-bagging coworker who has toiled in accounting for as long as you can remember. Did you know he owns a vacation house at the beach?

Or the McGillicuddy family, who live down the street in a house just like yours. Would you believe they didn't have to borrow a dime to send their kids to college?

Or Steve, your fellow baritone in the church choir. He just donated how much to help fund the city symphony?!

Call them the invisible rich. How do they do it? Sure, money like that sometimes comes from an inheritance or another fortuitous break, but more likely it's the result of diligence, smart choices and, well, deferred gratification.

The tenets they follow can also put you on the path to financial prosperity and security. Discover how.

They Don't Spend Beyond Their Means

Yes, this is obvious, but it's ignored as often as it's repeated. In the words of Knight Kiplinger, editor in chief of Kiplinger's Personal Finance magazine and Kiplinger.com, "discretionary spending -- the chic apartment, frequent travel and restaurant meals, consumer electronics, fancy clothes and cars -- crowds out the saving that will enable you to be rich someday." This is what makes the invisible rich, well, invisible: They're not conspicuous about their consumption. They're value shoppers, whether it's for a car or college or anything else. And they'll buy used, putting items to use for as long as they still do the job. Meanwhile, they put the money they saved instead of buying shiny new objects to work earning interest and dividends.

They Educate Themselves

The first investment of the invisible rich? Themselves. Education is still a prime driver of lifetime income, and it's never too late to learn.

Your own earning power -- rooted in your education and job skills -- is the most valuable asset you'll ever own, and it can't be wiped out in a market crash. But it can erode. Keep pushing up your earning power through continuous education, training and personal development. This could mean going back to school, adding a needed certification on the weekends or serving in work-related fields that will build your network -- and increase your salary.

They Pick the Right Field

There's a ton of difference in salaries out there, even among jobs that require similar amounts of training and education. The wealth builders look at lifetime earning potential. What jobs are they choosing? Some top payers we've identified are personal financial adviser, app developer and management consultant. Learn more from our 10 of the Best Jobs for the Future slide show (and learn what fields to avoid, or consider leaving, in 10 of the Worst Jobs for the Future.) Some wealth builders might work in one of these high-risk fields that pay big bucks.

They Save (and Invest) Early

As soon as they earn money, the get-rich-slowly crowd starts saving -- and letting their money work for them over time. When they got their first jobs, the invisible rich surely took advantage of tax-advantaged retirement plans, such as 401(k)s, also making sure to capture any free money their employers offered as a match. When they gave birth to their first children, they maximized college savings via tax-advantaged 529 plans.

If saving on a starting salary (or even now) seems daunting in the face of monthly bills, consider paying your future self first. That is, when budgeting, your first line item should be a transfer -- ideally, an automatic one that you don't even think about -- to your savings account, money market fund, IRA, brokerage account or other savings vehicle. Then budget for what's left of your income, with, say, the cable bill last. If there's not enough income to cover your expenses, trim your discretionary spending.

They Don't Swing for the Fences

Just as the invisible rich take a pass on flashy accoutrements, they keep things simple when investing, avoiding risky options, such as initial public offerings, structured notes and hedge funds, even when their higher net worth opens the doors to such investments.

That's not just because of the greater risk of losing principal; it's also because of the fees the more complex investments often bring with them. That's money you're guaranteed to lose, and money that won't be around to grow your wealth over the long term.

They Keep Themselves Covered

Insurance is not one of the discretionary items your stealthy wealthy friend has cut back on. It doesn't do you much good to diligently work at getting rich slowly only to lose it all to illness, disability or someone tripping over the rosebushes at the end of your front walk.

Disability insurance above and beyond what might be available from your employer will ensure that your earnings don't take a hit if you become too ill or injured to work. And as your tangible and liquid assets grow thanks to your smart investing and everyday savings, a personal liability umbrella policy that extends the coverage of your auto and homeowner's insurance will protect you from the legal fees (and potential judgments) of a civil lawsuit.


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They're Wise About Windfalls

When financial rewards arrive, whether in the form of a raise, a bonus, an inheritance or a lucky break of any sort, the invisible rich see that as a chance to shore up their position, not to party. And even if a windfall does allow them to upgrade their living situation, they act slowly and deliberately.

(In case you're wondering, we're not talking about lottery winnings here. The invisible rich definitely don't play the lottery.)

They Hang Onto Their Cars (and Houses)

Yes, this falls under spending within your means. But because cars and houses are such big-ticket items for most people, they're worth a closer look. In fact, the authors of the 1999 book The Millionaire Next Door devote an entire chapter ("You Are Not What You Drive") to the perils of spending too much on a car. Remember this: When you drive a new car off a dealer's lot, it loses value immediately. So as you cruise by in the new ride, the invisible rich onlooker isn't impressed. He just thinks you're an idiot for tearing up thousands of dollars.

New houses, on the other hand, can appreciate in value. But the hazard of trading in and trading up remains, with the frictional costs (such as broker fees, transfer taxes and mortgage origination fees) that come along with it. Stay put if you can, making modest but wise upgrades along the way. An extreme example of someone who could afford to move but keeps it simple: Warren Buffett, who has lived in the same Omaha, Neb., house for more than 50 years.

They Avoid Debt

You can't be rich if you owe. Use credit only to purchase things of lasting value: a home, an education, maybe a car. Pay cash for everything else. To quote Knight Kiplinger again, "Do you know anyone who got into big financial trouble because they didn't borrow enough money?"

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Tom Petruno is a Contributing Writer for Kiplinger's Personal Finance magazine.



All contents copyright 2013 The Kiplinger Washington Editors, Inc. Distributed by Tribune Content Agency, LLC

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