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Financial Literacy - Financial tuneup
SPOTLIGHT
Celebrities discuss money and investing
Some can handle money well; others admit ignorance and hire professionals. All share their lessons.
Investment tuneup
 
 Celebrities:
Michael Feinstein
Judge Alex Ferrer
W.E.B. Griffin
Carl Hiassen
Don LaFontaine
Lisa Lampanelli
 More celebrities...
Celebrity Q&A
Who: Ben Stein
Notable:
Author ("The Real Stars"), actor ("Ferris Bueller's Day Off")
Fame & Fortune Q&A:
Bankrate: Thanks to your books, we now know exactly how to ruin our financial lives. Any advice on how to succeed financially?
Ben Stein: There are three smart things you should do. One, save right now. Start immediately, start today. Two, start thinking about your retirement right away, even if you're 20 years old. Three, buy your first house, and when you've got that in control financially, buy a second house, then a third house, then invest in broadly diversified mutual funds like index funds, but prepare for your retirement by buying variable annuities. Variable annuities, especially the newest kind where there are no surrender fees or large sales charges and they're guaranteed to grow, say, 4 percent to 5 percent each year no matter how the stock market does. Those are great things.
Lesson learned: 
Save, save, save.
 << Previous | Next >> 
 
  What's your secret to success with investing?
Or, are you struggling? Share your story.
-- Posted: June 10, 2009
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