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 .