Archive for July, 2010

Facebook securityTrust Facebook with your life and the cost might be that primo job you just landed. Seriously, dudes and dudettes – it could happen. Lately, it has been a well publicized fact that the social media giant’s almost non-existent security standards are akin to advertising your most intimate personal information on the moon in 100 mile high blinking red letters.

The question becomes this: Do you want EVERYTHING from your FB account to be available to EVERYONE on planet Earth? When we say everyone, that includes your boss. And co-workers. And next door neighbor.

Security consultant Ron Bowes used a simple piece of code to troll 100 million unprotected FB personal profiles and posted the results on BitTorrent for all to see. Even though it was only a publicity stunt and there was nothing illegal about the action, it served the purpose of illustrating exactly how porous FB is. Or “was” if you choose to believe the FB moguls’ claim that everything has been tightened up and it’s all hunky dory now.

The important part is this – a prospective boss could quickly scan your profile to read your posts, learn your hobbies, religion, and whatever else you were injudicious enough to post there. Think they might make a snap judgment about your employability if your favorite relaxation involves midget bowling, and you are a hardcore scientologist? Hey, right or wrong, people have lost great jobs by being a little too free and easy with their personal junk.

Don’t lose your first great job to stupidity and a porous social media interface. The very first thing you should do to prevent this is set your FaceBook settings so that un-registered users like Mr. Bowes can’t have surf your stuff. And give a really long thought to not being so damn personal all the time.

The Young Wealth Team

Flickr / Max-B

The Young Wealth Team on July - 30 - 2010
categories: Blog Articles

YoungWealth.comOne of the fundamental decisions a young investor must make is whether they are a trader or an investor. Most people tend toward one or the other, and choosing one certainly doesn’t preclude dabbling in the other, but it’s good to know which side you primarily come down on. The difference is simple.

A trader plans a strategy around short term market fluctuations. He might jump in and out of positions several times (or several dozen times) each day. The trader believes there is money to be made in the ebb and flow of the market day. Most traders prefer to be flat at the closing bell, which means they don’t hold open positions over night.

The investor looks at longer term market direction – months, years, decades – and employs a buy and hold strategy that, like the trader, takes advantage of a trend. The difference being that this trend takes much longer to play out. The investor does not concern himself with the daily hiccups that pull prices back and forth. They prefer to step back, look for quality positions, and add to them regularly.

One could extend this analogy to real estate. A trader would be a person who buys undervalued houses and flips them quickly for profit. An investor is one who acquires a property and holds onto it, allowing for long term price appreciation to create wealth. The young investor will likely be drawn to one side or the other and it makes sense to pay attention to your preference. Trading/investing against your natural style could make you a little crazy. Here’s an idea from Young Wealth. If you can’t make up your mind, try this – put most of your portfolio in investments and keep a small percentage, say 10%, to play short term trends. This is one way to satisfy both desires.

The Young Wealth Team

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The Young Wealth Team on July - 9 - 2010
categories: Blog Articles

FOR IMMEDIATE RELEASE–

Credit has a large affect on credit scoreJune  5, 2010 – Credit expert, Danny Rosario of Starting Over LLC, joins the Young Wealth Show to give young adults helpful information on building credit. During the third episode, Jason Hartman asks Rosario, “why is it so important to take care of your credit?” Rosario replies, “for anyone who is 18 or older, credit is going to be a quintessential part of your life.”

Although 80 million Americans have credit problems, bad credit is not the end of one’s life because it can ultimately be repaired. Using a secured credit card (backed by one’s own capital) for 12 months with on-time payments will result in the credit card’s conversion into an unsecured credit card (the institution’s money).

During the episode, Rosario stresses the importance of the FICO score and what it means to a consumer. The score ranges from 300-850 and serves as an identity by placing a risk category on consumers; the higher the score means that the banking institution views you as a lower risk. The score represents the likelihood that you will go 90 days late in the next two years. “The magic score is 740,” Rosario states, “it used to be 720, but now that credit is tighter, 740 viewed as an A+ to the banking institutions.”

Concluding the episode, Rosario gives away tips to help listeners improve their credit score. “Don’t screw up the first 12 months of having credit, but really, you don’t ever want to be late,” he says. “Keep a mixture of credit, keep credit history open and active, and keep a debt-to-income ratio around 10% and pay the balances off as soon as you can.” He also suggests obtaining the FICO score regularly. “Go to www.myfico.com,” Rosario continues, “and avoid all of the “free” credit report marketing schemes on TV.”

Financial Literacy for Young AdultsThe Jason Hartman Foundation recognizes that life as a young adult can be very confusing and chaotic.  In the midst of completing formal education and beginning a career, there is a constant level of uncertainty concerning what will transpire in the future. The Jason Hartman Foundation is specifically concerned with helping young adults develop the necessary skills for financial success. The Young Wealth Show offers free educational information to help young adults develop the financial literacy needed to become financially independent. The show can be found on www.JasonHartmanFoundation.org/articles/young-wealth-show or the iTunes store.

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Contact Info:
Brittney Roberts
The Jason Hartman Foundation
Phone: 714-820-4267
Email: Media@JasonHartman.com
Web: http://www.JasonHartmanFoundation.org

Brandon @ The www.YoungWealth.com Team on July - 4 - 2010
categories: Blog Articles