I
MICHIGAN CITIZEN
19
Finances/Money
h
eret
ByJ
Recently I on a panel
en young man raised the
following question: "Once you
e away the rh oric, w
does it really take to become a
uccessful person?
Most of the panel members
gave the stand rd list of t
tributes such as • ng hard,
believing in yourself and never
giving up on your dream. But
when it was my turn, I said I
wasn't really sure because he
standard answer all appeared
to be lacking in one y or
another. Here's why.
- H rd Wo P ople often
ay hard wor is the ey to
chieving your dreams. But I
doubt it. I hav kno too many
hard or ing people in my life
who have never achieved finan
ci 1 �ucce . In fact, many of
them died poor.
vi Youn If.
Like "hard ork" this is a st d
rd an er hich contains
e degree of truth but it can
no possibly be the key. Fo ' ex-
,ample, can one continue to
believe in eself en things
are co andy goin bad. It .
easy to believe in y self when
. re oin right for you.
Gi U OD Yo r
un ••. Dcterminin . n is im-
portant b I simply canno tell
. a perso t y ould ver give
up. Suppo e th t per on h·
emb rked on a cour c of action
ich is not ptoving productive.
'hould t y not "give up" and try .
m thing new? I do no believe
in knocking my head against a
bric aU.
All the above qualitic arc
Important. But I have pointed
o
your
ueee
out they all have their limita
tio or exceptio . Thus to the
lis of what its takes to become
a successful person, I would add
the following:
t Ho
Hard work can only be ul
timately rewarding. if you are
working hard on the right thing.
There are some goals or
projects we may work on that
are Simply not goiq to pan 0 t
regardless of how hard you I
work.
You may be the best jockey
in the race but if you constantly
find yourself riding a bad horse,
you will never win the r ceo
odate With 'Ill IUght
� pl. Simply put, there is a
limit to what anyone person can
accomplish in life. You are
going to need good people be
hind you or at your side if you
are going to chieve your finan
-cial, professional or personal
goals. And if you do not haYe the
"right people- in your life then
you must go out and find them.
Join club. associations and
groups and pick out the people
who can be helpful to you.
- YuH v (. To H e
Drive! 'Personally, ,I think
"drive" is the ingle mo impor-'
lant ingredient ot achieving
your go Is in life. Drive is the
ability to keep puShing forward.
The bility to make yourself get-
up nd o. You , your
enemy in the b ttle for succe
. procr ination, The only way
to overcome procrastination is
with drive ..
Meanwhile, if you want more
on how to become more finan
cially successful person nd
how to t y driven subscri to
our monthly newsletter Success
ew (S18 a year) P.o. Box
54041, W hington, D.C .. 20032.
DID YOU 0 ... that
while there have not been many
ne stories about it, the fact is
the r te of incre in AIDS
ca es appears to be slowing
down. Reports from several
metropolitan areas throughout
the nation 0 t the number
of new AIDS cases in 1988
ct y smaller thant he num-
ber of new ca e in 1987.
Rese rcher don't know why
there appear to be a tapering
off.
Pr.me Rat
tee 1.
t
WelcJt, Mllw� WI
�e prim interest rate is the
rate the largest banks in the u.s.
charge their m� Credit worthy,
customers. Thi rate i fre
quently cited a tandard for
general interes levels in the
economy. Movement in the
prime rate effects bonds and
bond fund share values.
Wh t i-Profit T I
the t m rket? S. Nance;
Detroit; MI
Profit taking is the practi
of selling securiti after they
h ve risen in value to realize
gain. Either individual or in
stitutional in tors ha� a pre-
.• -determined goal for the security
that they purchased d upo
reaching that goal old the
'security for profit.
A Preferred Stock .
of tock th t h preference
over a company's common
stock in the payment of
dividends d any liq . dation or
assets, also the dividend paid is
a fixed ratc. Preferred ocks
usually do Dot have votiDg
po er like com on rock,
}leoce e trade off for their
other .