Two Simple Steps to Future Wealth

By Jeffrey Strain

The Dow Jones Industrial Average's recent one-day drop of 777 points most likely sent more than a few people's hearts into a flutter, if not full-scale panic.

Drops like that make people question why they invest in the stock market, and the reaction is usually to run to safer investments; but if you have your personal finances in order and are investing for the long term, such drops in the stock market itself aren't anything to overly worry about (what these plunges mean for the economy is a different story).

When it comes to investing, there is a low-risk, high-return investment strategy that's easy to learn and every family should adopt.

Saving and putting your money to work in index funds isn't as sexy as picking a winning stock and it's probably not something that you'll be bragging about to your friends at end-of-the-year parties, but it will provide you with a nice retirement nest egg with little risk because the strategy has a lot more to do with issues that you can control than how the stock market is doing any particular month.

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What the Economic Crisis Means to You

Posted by Joe Morgan

At any given time in your life you may find yourself in a financial situation not of your making. The recent credit crisis in America is a prime example. It is a uniquely perfect storm to be sure, the kind of economic crisis that comes along once every 50 -100 years perhaps, but that doesn’t lesson the impact on your well being.
Economic hardships come and go, and are largely beyond our control as individuals but there are things we can do to prepare for such times. Severe economic downturns have some factors in common, and this current credit crisis is no different in this regard. Some effects we can expect include:

No more “Free Money”

It will become harder to get loans and the loans you do get will likely have higher interest rates. Banks will continue to keep lending money, just not with the exuberance they have in the past decade.

Lenders have been bitten by risky loans they made to sub-primer borrowers, and the investments that were based upon those loans as collateral. As a result, lenders are more conservative in whom the lend money to and the conditions of those loans.

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An Introduction To Bartending

from officialinvestigator.com

Setting up your own bar is actually quite easy to do. There are however, a few things that good bartenders need to know to run a bar efficiently. In order for a bar to succeed, you’ll need to have the basic wines, liquors, and spirits - along with the right equipment.

Although these things are essential, bartenders also need the proper technique for mixing drinks and cocktails as well. With bartending, the location of the bar is very important. The bar should be placed in an area that is easy to reach and provides plenty of space behind it.

There should be plenty of room for glasses and drinks, along with a chair or two as well. The bartender has to learn the area behind the bar, and know everything about it. Bartenders need to know their area well - and how to perform their mixing duties when business heats up.

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A Defensive Strategy That Works

By Roger Nusbaum

A big theme in my writing -- at TheStreet.com and on my blog -- has been taking defensive action amid unhealthy demand for equities. There are several ways to measure this. I prefer taking defensive action when the S&P 500 goes below its 200-day moving average, then getting fully invested when it goes back above that point.

As Ken Fisher has said many times, the market can only do four things: go up a lot, go up a little, go down a little or go down a lot. My use of the 200-day moving average is to try to miss as much as possible of that last one.

The attached chart shows a way that might help mitigate the full brunt of a bear market. It compares the S&P 500 (with its 200-day moving average in blue) and the CBOE BuyWrite Index(BXM Quote - Cramer on BXM - Stock Picks).

The BXM strategy is to buy the S&P 500 and sell at the money front-month calls. The intended effect is less volatility with the hope that it would outperform the regular S&P 500 over long periods of time. Every back test I have ever seen bears this out, but BXM should be expected to lag in years the market is up a lot, like 2003.

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How to Set Priorities and Get the Job Done

By Dr. Joseph Mercola

When you don’t set priorities, you tend to follow the path of least resistance. You’ll pick and sort through the things you need to do and work on the easiest ones, leaving the more difficult and less fun tasks for a “later” that, in many cases, never comes.

Or, worse, the “later” may come just before the action needs to be finished, throwing you into a whirlwind of activity, stress, and regret. There are three basic approaches to setting priorities, each of which probably suits different kinds of personalities.

The first is for procrastinators, people who put off unpleasant tasks.

If You are a Procrastinator -- Eat a Frog!

There’s an old saying that if you wake up in the morning and eat a live frog, you can go through the day knowing that the worst thing that can possibly happen to you that day has already passed. The day can only get better!

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7 Halloween Tactics to Make you MORE Money this Holiday Season while Bartending

From Bartender Confessions

YES! This is my favorite time of year! As a kid I had Haunted Houses in my garage. Today, I still think of the BEST possible costumes I can come up with!! But as a bartender with a Mobile Bartending Business…Expect a lot of Halloween Parties! Below is a small list of great tips for all my fellow Mobile Bartenders that you can implement during Halloween!

Halloween Bartending Tips:

1. Dress Up! If you are NOT dressing up for Halloween parties…you’re CRAZY! Not only is it fun (and more casual, but your clients/guests will LOVE it. (Just make sure you ask if you can dress up first) Try something related to bartending or your task behind the bar. This year I am going to be a Mad Scientist mixing up some crazy concoctions! (Yes, you may steal my costume idea!)

2. Add Dry Ice: This is awesome! Every martini I make, I put in a REAL glass and add a small coin-sized piece of Dry Ice. The effect is amazing! Your guests will love it and it will keep your cocktails a bit colder!

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10 (More) Reasons You're Not Rich

by Jeffrey Strain

Many people assume they aren't rich because they don't earn enough money. If I only earned a little more, I could save and invest better, they say.

The problem with that theory is they were probably making exactly the same argument before their last several raises. Becoming a millionaire has less to do with how much you make, it's how you treat money in your daily life.

The list of reasons you may not be rich doesn't end at 10. Caring what your neighbors think, not being patient, having bad habits, not having goals, not being prepared, trying to make a quick buck, relying on others to handle your money, investing in things you don't understand, being financially afraid and ignoring your finances.

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A New Phase in the Cycle

From LOM Global Perspectives

Recessionary conditions are becoming more pronounced in the developed world and simultaneously reducing growth prospects in emerging countries. And inflationary pressures that were still raising concerns a few months ago are dissipating, as disinflationary forces begin to predominate.

Commodity prices continue to trend lower as demand falls. Analysts are hurriedly revising their forecasts for oil prices in a downward direction and OPEC is talking of the possible need for production cutbacks. Normally, in these circumstances, prices tend to fall even lower than consensus forecasts.

The ability of Chinese authorities to prevent growth from dipping below their unofficial eight-percent target is important for commodity markets as well as the general tenor of global growth. To achieve this goal, policymakers have taken steps to ease monetary policy and boost domestic demand. However, currently, the economy depends quite substantially on exports to sustain a high growth rate.

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Vodka Drinks

From The Big Beer Blog

Vodka is considered to be one of the more potent alcoholic drinks that you can get. This drink is made from various grains and distilled until the smooth flavor and strength has been achieved. Vodka by itself is considered as an inert drink.

This means that unlike other drinks Vodka drinks can be mixed with other alcohols to produce great tasting mixed drinks. As Vodka drinks have an alcohol strength that varies from 35% to 70% alcohol you will need to choose the Vodka that you want.

Once you have added Vodka or Vodka drinks to other alcoholic drinks you will find that the Vodka drinks have inherited the taste and characteristics of that drink. It is for this reason that many bartenders like to have different types of Vodka in the bartending arsenal.

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5 Ways to Play Falling Oil Prices

By Rick Aristotle Munarriz

Remember when oil was bumping up against $150 a barrel over the summer? Well, crude oil futures dipped below $75 yesterday, dropping prices to levels last seen in the summer of 2007.
The market isn't soaking this in just yet.

It's too busy dumping toxic bank stocks and quivering in panic rooms to notice. With OPEC slashing global consumption targets, falling oil prices are actually being portrayed as yet another reason to roll into a fetal position. Remember when stocks fell because prices at the pump were going higher?

Oil prices don't cut both ways, though. There are some real stocks with plenty to gain if oil prices stabilize, or even fall further. Once sanity returns to the volatile markets, these companies will be rewarded accordingly.

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Top 10 Things to Do While Waiting for the End of the Financial Apocalypse

By Richard Gibbons

By Richard Gibbons

There's a good chance that last week's 18% drop in the Dow was the biggest weekly percentage drop you will ever experience. And that means everything is different now. You see, in more usual market times, you probably spend a significant amount time trying to find excellent stocks at good prices.

But with yesterday's close 39% lower than the all-time high only a year ago, it's easy to find cheap stocks -- but waiting for the market to turn and value those stocks takes some patience.
So to help you ride out the bottom, here are the top 10 things to do while waiting for the end of the financial apocalypse. Drum roll, please …

10. Play the financial-apocalypse drinking game

Get friends together to watch the invigorating financial news on CNBC. Take a drink whenever someone says "contained," "1929," "subprime," or "Roubini," or uses a three-letter combination to refer to something that a reckless CEO has used or will use this year to blow up his century-old, multibillion-dollar business. "ABS," "CDS," and "MBS" count. "WMD" doesn't -- so far, anyway.

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Bartending Guides: More Than Recipe Books

Posted by Colleen Graham

Bartending guides are like cookbooks, no two are the same and for enthusiasts the collection just seems to grow and grow and you can’t get enough of your favorites. If you’re anything like me, a good bartending book is priceless and - cocktail geek that I am - I’ll read every one of them from cover to cover (including the recipes) and will often read each many times over.

Almost every bartending guide follows the same format: commentary, basic tools and techniques, spirits and mixers and recipes. Despite this “generic” formula, every book is different and the really good ones have some personality to them.

I think this is an attribute which the subject itself endorses because it is a casual, fun topic (bartending is not supposed to be serious, right) and the books’ authors are generally very interesting people who have spent a lot of time behind a bar.

Even for someone with years of experience behind the bar, the “bartending basics” sections can have something to offer.

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We All Just Learned an Expensive Lesson

by Terry Savage

Where did all the money go? That's the plaintive cry as investors check the balances in their 401(k) plans or IRAs. Strangely, they never asked how the money landed in their account as stocks moved higher. That was taken for granted.

Well, don't look around now to find out who has "your" money. It disappeared as magically as it arrived. It's gone to "money heaven"! We've turned ordinary Americans into portfolio managers of their own retirement plans, many of whom don't have the knowledge, perspective or self-discipline to make wise decisions.

It shouldn't come as a surprise that, as prospects for the economy dim, fewer people want to own the businesses that those stocks represent. When investors rush to sell, prices go down -- and the money represented by those stock prices simply disappears.

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4 Tips: Smart Money Moves for a Down Economy

From SmartMoney.com

Every day, a shocking new number makes headlines. The tally for the government rescue plan: $700 billion. The number of job cuts in September: an eye-popping 159,000. And on Thursday, the magic number was 9,000 -- or, more precisely, below 9,000 -- where the Dow Jones Industrial Average found itself for the first time in four years.

For consumers, these numbers indicate one thing: Now's the time to do everything you can to protect your finances. A couple weeks ago, we offered 5 Tips for Navigating Troubled Markets. Here are four additional smart money moves to make now:

Convert to a Roth

The down markets may decimate your retirement savings, but they also provide a rare opportunity: To convert your traditional IRA into a Roth IRA with a reduced tax hit. (For a tutorial on the differences between these two types of IRA accounts, click here.)

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How to Use the Web to Connect to the Global Bar Community

by Jeffrey Morgenthaler

My name is Jeffrey Morgenthaler, and I’m a bartender and cocktail blogger from Eugene, Oregon. Oregon is, for those of you who don’t know, on the west coast of the United States, north of California – where I grew up.


Eugene is a small town of about 100,000 people. The closest metropolitan area is Portland, about 100 miles to the north. Here it is. Eugene is a college town, and so most of the bars are college bars. A lot of beer gets poured, and lot of Jägermeister gets taken down in shots.

The sorts of things we’re seeing here at the BCB, craft bartending, classic cocktails, culinary-style drinks, etc. don’t matter to most of the bar community in my town, they’re all relatively unknown outside of a small handful of bars.

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In Economic Downturn, More Turn to Barter

By Kelli B. Grant

Call it a sign of a dismal economy and struggling financial system: the resurgence of barter.
Bartering, or the exchange of goods and services without money, has become a more common solution as family budgets tighten.

In July, consumers listed nearly 142,000 ads on the barter section of Craigslist, a 96% increase from the year before, according to site statistics. Other sites report a shift in the things traded. "Before, it seemed like people did it casually as a way to recycle unwanted stuff, like kids' clothes," says Jessica Hardwick, founder of bartering site SwapThing.com.

"Now it's more out of need." Recent listings requested back-to-school essentials like backpacks, textbooks and even uniforms.While approaching the mechanic about exchanging a weekend of pet-sitting services may seem absurd and a little creepy, most people are already familiar with the basics of such tactics.

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How to Save on (Almost) Everything

By Kelli B. Grant

CONSUMERS NEED TO look no further than their rapidly-emptying wallets for signs of inflation. Just about everything is pricier than it was a year ago. Drivers pay $1.09, or 37%, more for a gallon of regular unleaded, according to AAA.

The ingredients of an eggs-on-toast breakfast cost 18% and 16% more, respectively. And it doesn't stop there: Major airlines recently tacked on a $20 fuel surcharge for domestic flights, while, at home, electricity prices are expected to climb 3.7%.

World-wide demand for more goods and services — and the oil needed to produce and ship them — means that higher prices are likely here to stay, says Richard Eberling, a senior research fellow with think tank American Institute of Economic Research

For budget-minded consumers, hunting down deals is now a crucial pastime. To make it easier, we asked experts for their single best tip on how to save in a range of spending categories. View our slideshow to see what they have to say:

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Bartending is more than just pouring drinks

By Christina Rowland

There was not an open seat in the house, there were girls dancing on chairs in matching shirts, people holding up signs, and so much noise that you could barely hear the person next too you speak.

No, this was not the latest reality show to become a star, but the performers certainly had to feel if it was.The Super Regional Bartending competition took place Thursday night at T.G.I. Friday’s in Lewisville with a packed house watching the four competitors perform in the flair portion of the competition.

The competitors arrived at the restaurant much earlier in the day than the crowd to compete in the other three parts of the competition. Each bartender had to complete a menu test, drink knowledge test, pour test with multiple components, and the final flair test in front of the live and loud audience Thursday night.

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Renting Makes More Financial Sense Than Homeownership

By Jack Hough

I have something un-American to confess: I rent an apartment, despite having enough money to buy a house. I plan to keep renting for as long as I can. I'm not just holding out for better prices. Renting will make me richer.

I normally write about stocks for SmartMoney.com, but the boss asked me to explain to readers my reason for renting. Here goes: Businesses are great investments while houses are poor ones, so I'd rather rent the latter and own the former.

Stocks vs. Houses: Returns

Shares of businesses return 7% a year over long time periods. I'm subtracting for inflation, gradual price increases for everything from a can of beer to an ear exam. (After-inflation or "real" returns are the only ones that matter.

The point of increasing wealth is to increase buying power, not numbers on an account statement.) Shares have been remarkably consistent over the past two centuries in their 7% real returns.

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Ten Food & Beer Pairing You SHOULD Try

By Stephen Beaumont

Last month, I gave you ten food and beer pairings so unfortunate that they proved the validity of planning well your mealtime beverages. This month, I offer further proof in the form of ten positively delectable partnerships.

10. Brie de Meaux and Oatmeal Stout: The soft, almost sensuous character of this engaging black ale tempers the slight edge the unpasteurized milk imparts to the cheese while accenting its equally smooth and silky texture. (I recognize that this is simply the inversion of last month's #7, but it's so good it bears repeating.)

9. Pizza and Vienna Lager: I discovered this one while working on my 1995 book, A Taste for Beer, and I've got to say, it came as a bit of a surprise. The key is how marvelously the sweet front and dryish finish of a good Vienna accommodates both the sweetness and acidity of tomato sauce.

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