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Financial Samurai

Slicing Through Money's Mysteries

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The Worst Seat On An Airplane Is The Best Seat In The Office

Updated: 08/28/2020 by Financial Samurai 19 Comments

GTGTTBR
GTGTTBR (Got To Go To….)

The worst seat on an airplane is still better than being stuck in the office. Don’t fret!

For some reason, I generally get stuck in a middle seat close to the bathroom every time I go on a business trip.  It’s probably because I leave so little time between take off and check-in that I usually end up screwed!

The worst is when you’re just about to fall asleep and you get nudged by your neighbor for hogging the arm rest.  Come on neighbor, I’m stuck in the middle, the arm rest is mine!  The second worst thing is inhaling the lovely toilet aromas every time someone walks in and out.  Finally, add a crying baby next to you, and air travel is just lovely.



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Slapping Hands With Famous People, Saving Money At Events & Priceless Moments

Updated: 02/12/2021 by Financial Samurai 13 Comments

I had one mission this weekend, and that was to “high-five” as many famous people as possible. You see, The President’s Cup descended on San Francisco. Thus, I was determined to watch America’s best golfers tee it up against the rest of the world, less Europe (that’s the Ryder’s Cup).

Did I succeed in my mission? It depends on whether you count Tiger Woods, Phil Mickelson, Anthony Kim, Freddie Couples, Greg Norman, Condoleeza Rice, Gavin Newsom, and Michael Jordan as famous people! For if you do, you’ll understand why I’m never washing my hands again!

There’s A Wide Range Of Golf Fans



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San Francisco Is The Best City For Millennials & Techies

Updated: 02/10/2021 by Financial Samurai 22 Comments

San Francisco is the best! GGB By Mrs. Samurai
GGB By Mrs. Samurai

San Francisco is the best city for millennials and youths. There is so much to offer here. Diversity, great eats, Google, Apple, Twitter, YouTube, Yelp HQ and more! SF is #1!

Yet according to the Wall St. Journal, the Top 5 “youth magnet cities” are:

1) Washington DC – Didn’t realized that’s how they spelled San Francisco.

2) Seattle

3) New York

4) Portland

5) Austin – Washington DC

Dear Wall Street Journal, have you never heard of the Bay Area? My main question is: “Where is SF?!” The researchers who compiled the list clearly did not spend any time in the Bay Area. San Francisco is the best city for millennials. And the tech companies prove it.

San Francisco Is The Best For Tech Jobs



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If A Panda Didn’t Look Like A Panda, Would The World Still Care?

Updated: 02/04/2021 by Financial Samurai 31 Comments

People are biased. People tend to hire people who look like them and talk like them. In my post, Three White Tenants, One Asian Landlord, I discuss why I’ve been building a rental property portfolio for my children. There are too many biased people! Now let’s talk panda.

A British Conservationist has stirred up a ton of controversy because he believes we should let pandas go extinct and “put them out of their misery” because they are “stupid” and possess poor survival skills. My question is, if the Panda looked like Golem from Lord of The Rings, would there still be an uproar? The Black Rhino and Beluga Sturgeon are equally as endangered but you never hear about them.

I was at an MBA recruiting fair the other day and I noticed several of my fellow corporate representatives spend a disproportionately longer time with one particular candidate. Where average conversations last 3 minutes, conversations with this one candidate would last 10+ minutes. Coincidence this candidate was probably the most physically attractive person there?  I don’t think so.

Beautiful People Everywhere

Cute Panda

According to a study released in 2005 by the Federal Reserve Bank of St. Louis, “beautiful” people tend to earn 5 percent more an hour than people who look like me. 

Economists also found that women considered obese in terms of their body mass index (BMI) in both 1981 and 1988 earned 17 percent less than women within their recommended BMI range. Short men also are disadvantaged by 3% vs. their taller counter parts as well. Man, the ideal body weight really misses me off!

Whether we like it or not, better looking people have an advantage over normal looking people with all things being equal. If you had a 5% advantage over the house, you could literally bankrupt any major Vegas casino.

In fact, as one who’s studied publicly traded gambling companies such as Wynn and Las Vegas Sands, any customer win percentage greater than 3% leads to massive losses for the quarter.

Golem from LOTR
Golem from LOTR

What Are We Supposed To Do?

We shouldn’t hate good looking people for being beautiful like a panda. After all, looks are an exogenous variable that nobody can control.  Instead, we need to accept our attributes and improve on what we have, the endogenous variables if you will.

1) Work out. If you wanted to lose the spare tire, you know you can.  Just look at all the contestants on “The Biggest Loser.”  They all lost at least 30% of their body weight after 3 months!

2) Eat right. Donut, latte, ice cream, pizza say goodbye.  More than working out, eating right is the most effective way to lose weight.  See: Track Everything: We’re Eating And Spending Way Too Much

3) Groom. Wash your face, pop your zits, smell nice, get a tight haircut or professional style, and make sure there is no broccoli in your teeth.  Ask one of your closest friends or family members to give you an honest opinion of how you look.

4) Invest in a modern wardrobe. You need an outfit that blends in with your manager or potential employer. Wear nice shoes too. There’s something about a beautiful pair of shoes for both men and women, that just stands out and says success. 

Women love to check out guys shoes, as well as other women’s shoes.  Feet are our foundation, strap some nice leather on them. Looking the part lets you earn the part! See “You’re Not Going Clubbing – Interview Attire 101“.

5) Keep your hands dry. Sweaty palms really leave an impression; a bad, sickly, clammy impression!  Hence keep a small towel in your pocket to dry off your hands right before you’re about to shake.  Some talcum or baby powder in the other pocket works well too!

Look At The Upside Of The Panda

Baby Panda
I’m here to save you buddy!

Life isn’t fair, but unattractive people have a tremendous advantage over beautiful people.  Attractive people can’t get that much better looking, but we can!  Why do you think the “ugly duckling formula” in movies always works so well?

Let’s use our comeliness to our advantage and wow our colleagues. From every line of work, you will find very successful not so attractive people. Perez Hilton, celebrity Blogger is a great example and blogging phenom. Not that attractive, he decided to do something about it and lost 40 pounds. We’ve been so used to his sloppiness, he now looks relatively handsome with his new weight and threads!

Since the original thesis is that better looking people earn more, we rationally should want to look better, and we can! Let’s not let the beautiful people beat us out on things we equally deserve! Unattractive people of the world unite!

And finally, please take control of your finances. Here are some top financial products that will help you achieve financial freedom. Once you have money, you don’t care if you aren’t as good looking or as cute as a panda. You can do anything at any time once you’re finances are set!

Related: Are You Smart Enough To Act Dumb Enough To Get Ahead?

Keigu,

Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”

Serena Williams Is NOT A Nerd. We’re Sorry!

Updated: 02/04/2021 by Financial Samurai 6 Comments

Serena Williams is the greatest tennis player today.

Apparently someone sent over last week’s article, “Revenge of The Nerds: Golf and Tennis Are #1” to Serena Williams, and it just pissed her off!  Serena’s anger built up so much, she finally blew her top  against a lines official after calling a foot fault.  

Serena screamed, “I swear to God, I’m going to take this ball and shove it down your f*cking throat!”  We then noticed her mumble something like, “Can’t believe some stupid website called me a nerd” and went after the lines judge some more!

Serena, we just wanted to make a public announcement that the staff over here at Financial Samurai didn’t mean to call you a nerd specifically.  

In fact, our point of the article was to highlight you are the #1 most popular female athlete in America, and provided inspiration for all us “nerds” growing up!  

With your glistening guns, aggressive baseline attacks, and $30 million a year in earnings, we were impressed!  However, after last night’s outburst, and you not willing to apologize afterwards, we’re not your fans anymore.

Every minute you wait is literally dollars out the window, Serena.  In fact, we hear Puma executives are on a conference call right now discussing the fate of your endorsement contract.  

What’s compounding the problem is that Kim Clijisters is one of the most beloved players on the circuit.  She just had a baby a year and a half ago for goodness sakes, and is now the US Open champion!  Way to go Kim!  Serena, hurry up and apologize to the world!

Financial Samurai’s,  besides Ohio State University blowing their 5 point lead to USC with several minutes to go in the 4th quarter, Serena’s outburst is topic du jour!  If you haven’t hit the public courts and found a tennis partner since “Revenge of The Nerds: Golf and Tennis Are #1” was published, make sure you have an opinion on these two events come work time tomorrow.  Seek out your sports crazed senior colleagues and banter!

Keigu,

Financial Samurai – “Slicing Through Money’s Mysteries”

Revenge of The Nerds: Golf & Tennis Are #1!

Updated: 06/10/2021 by Financial Samurai 15 Comments

Are you a nerd? Great! Nerds tend to make the most money, have the most rewarding careers, and the most fulfilling lives. Look at classic nerds like Elon Musk and Bill Gates!

According to Harris Interactive,  the most popular male athlete in America is Tiger Woods, and the most popular female athlete is Serena Williams.  This got me thinking…. hmmmm, America is absolutely obsessed with football, baseball, and basketball and yet golf and tennis are #1! 

Since High School, the stereotype has always been that nerds played golf and tennis, and jocks played the other sports. So, what’s up with this latest poll?

The Financial Samurai theory on nerds

* Whoever controls the most amount of money is the most influential, and therefore, the most popular.   The reason why Tiger Woods makes $100 million a year is because he generates billions in incremental revenue. 

Since nerds by definition get better grades,  they may go to better schools  and get better paying jobs.  Therefore, their chances of making more money increases.  More nerds play golf and tennis, and therefore spend more on those sports.



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Government Employee Entitled to A $100,000,000 Bonus!

Updated: 09/24/2018 by Financial Samurai 18 Comments

Yes, I know I’m being a tad bit facetious here, but not really. After getting US$45 billion in government aid, the US government and we the people of America own roughly 36% of Citigroup. The interesting debate is whether Citigroup employee, Andrew J Hall should be paid his $100 million bonus as described in his contract.

Most initial responses are with a vehement “HELL NO!” Who on earth deserves to get paid that much, people must think. However, what if Andrew Hall was responsible for bringing in $1 billion in revenue? Is it so egregious to pay the man responsible, a 10% cut? After all, $900,000,000 sure does employ and pay for many other Citigroup employee’s salaries! Should Citigroup risk not paying their star, and his team of employees for the overall sake of the firm and shareholders? As one colleague aptly put it, “RB, we live in America not North Korea!”

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The Dumpster Of Treasure: Finding Wealth Everywhere

Updated: 02/04/2021 by Financial Samurai 9 Comments

A funny thing happened yesterday when my friend and I were waiting for a space in the club parking lot. We were doing some stretches outside when an old man with a bamboo stick over his shoulder and too medium bags at each end came tiptoeing in.

Where in the world was he going, we asked ourselves. Our eyes followed him to the back corner of the lot, which extends around and into the club. Like a ninja, he proceed to jump into the big recycling dumpster and start rummaging!


There is a dumpster of treasure everywhere we go. You just have to keep searching for those multi-bagger unicorn stocks.

After about 5 minutes, he popped out, and those medium sized bags on each end morphed into bags the size of his own body. This time, he happily walked away and didn’t tiptoe around us.

Cool, he’s decided to lessen the dumpster’s load and take some plastic bottles and cans for himself. Maybe the old guy can get some trade in value for his stash, although I can’t imagine very much.

The friend and I are still waiting for a spot 5 minutes later when ANOTHER man with bamboo stick and plastic bags on each end comes marching in. This fella was younger, perhaps in his 30’s and could literally have been the older man’s son.

He didn’t do any tiptoeing, he just marched right in and climbed into the dumpster. After about 10 minutes, he threw himself out, and muttered in disgust, “Don’t people recycle anymore?!” and walked away.

We felt a little out of place as we continued to stretch our hamstrings on the pavement floor. Was the parking lot camera rolling, and we were being tested on whether we’d be the recycling police? Nah, it was just a little bit of reality.



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What Will August Bring…

Updated: 02/08/2021 by Financial Samurai 1 Comment

Ah the end of summer is quickly approaching. What will August bring this year? I had lunch today with one of the co-founders of BuzzLogic. We caught up on life and discussed the world of online social media.

If you don’t know about BuzzLogic, the company is one of Silicon Valley’s great start ups. They got into the blogging world early. BuzzLogic developed a unique technological platform and a fantastic premium display ad network. It maximizes the returns of advertisers and publishers alike. If you’re an advertiser or publisher, it’s definitely worth a look.

Related: How To Start A Blog: Insights Into Building Your Own Website

What Will August Bring?

The funny thing is, my friend and I have been playing poker together for the past couple years, and I had no idea what he did. I just assumed everybody was a poker junky.

Anyway, I did my best to blend in. Often times I tried to beat the lowest denominator on the dress scale. My go-to was raggedy sweats and a soiled baseball cap.

Perhaps they’d have mercy on me given my appearance, or perhaps they’d smell blood and bulldoze me over! Both strategies have their strengths and weaknesses. But after a while, they all figured out I’m one of the tightest players at the table.

At any rate, it just goes to show you how small the world is. So be nice to everyone, especially in a big city. While you’re at it, work on improving your emotional intelligence. You’ll make more friends, and get farther in your career and life.

Let’s Make A Difference This August

My friend shared with me many great tips for Financial Samurai, one of which I will implement today. At the end of every month, I will produce an “Editorial Calendar” with a theme for the following month.

Given that it’s only a matter of time before the unemployment rate breaches 10% nationwide, many of August’s entries will be related to the intricate world of employment.

From interview tips, to maximizing your chances of getting your foot in the door, to getting ahead in your career, I’d like to share some of my strategies and experiences.

In addition, I want to highlight posts from the personal finance community to analyze and discuss. I’m confident that we can collectively help make a difference.

“How High Can Unemployment Go Before We Derail?”


“To MBA Or Not To MBA”


“Do Rich People Try Harder?”

Increase Your Knowledge And Make More Money

Here are some additional personal finance resources I’ve put together. I hope they will help you on your financial journey. With more knowledge you can earn more, save more, and have a comfortable retirement!

  • Take advantage of free online financial tools: Free Wealth Management
  • Explore my top financial products recommendations
  • Learn how much you should aim to have saved in your 401(k) by different ages. The numbers could surprise you.
  • Look beyond your salary and start earning passive income. Here are the best passive income streams I recommend.

Have a wonderful weekend everybody and stay frugal!

Keigu,

Financial Samurai – “Slicing Through Money’s Mysteries”

Survey Says: Get 1,300 on Your SAT’s and a 3.9 GPA And You’re Set For Life!

Updated: 02/06/2021 by Financial Samurai 12 Comments

I came across an intriguing article with a secret on getting set for life. Study hard, get good grades, nail your SATs, and get into one of the top 20 schools. Or if you weren’t scared off by the college admissions scandal, you could bribe your way in. But of course only you can decide if taking that level of risk is worth it.

The New York Times highlighted PayScale’s survey of 1.2 million college graduates. They reported how much money they made right out of school and 10 years after graduation. Would you feel set for life with these salary ranges?

Set For Life Graduate Salary Statistics

If you look at the picture, it’s interesting to note that the majority of schools are: 1) Private Schools, and 2) Highly Ranked in US News & World Report and other popular college rankings.

The average SAT and GPA scores of these 20 schools are roughly 1,300 and 3.7, respectively. Hence, one could argue that the key to making a six figure income 10 years out of school is simply high test scores and good grades!

As such, it behooves all incoming 9th graders to recognize their grades accumulate from 9th to 12th grade. Don’t mess up your child’s chances of getting into Dartmouth, UPenn, and Yale if you want them to be set for life.

Set For Life In The Long Run

I really used to think education was not very useful since we forget much of what we learn. But, as I grow older, it becomes apparent that many of the most successful people we know have been very well educated.

Barack Obama went to Columbia for his BA, and Harvard Law School. George Bush Senior went to Yale, and even Bush Junior went to Harvard. Say what you will, but anybody who becomes the President of the Free World is successful in my eyes. In the long run, the cream rises to the top, be it whip cream or sour cream.

For the sake of argument, let’s say elite schooling is the only way to a healthy six figure income. The trick is to manipulate little Johnny and Emily to recognize during middle school or earlier they can goof up all they want. But, once the 9th grade hits, they’ve got to buckle down.

I remember when I was in 7th grade, my buddy’s older brother told me exactly this. He said, “Squirt, you can be a goofball all you want and annoy me on our bus ride to school, but you better not mess things up in high school or else you’re going to be a loser.”

His words are still quite clear in my mind 20+ years later. He scared the hell out of me, and I stopped trying to be cool and sit in the back of the bus with him. I also stopped shooting spitballs through straws which was a nice milestone.

Help Your Kids Get Set For Life

Any parents out there, I would just tell it to your kids straight. There’s only one chance at life so they might as well work as hard as possible to get the best perceived education one can afford.

The reason why private education costs so much is simply because parents are willing to pay for it. College tuition is essentially inelastic. The preceived value of a Harvard degree is tremendous.

Whether you learn something more or not is not the debate. All the text books are generally the same. It’s all about perception, and the admission into a club which will open doors for you or your children. The perpetual motion of education has already been set, you just have to play the game.

With tuition at these schools hitting $30,000+/year, there is often an unfair advantage for already well to do families. The good thing is that many of these schools have hefty endowments with need base scholarships, and more often than not, rewards will be given to bring this cost down.

There’s No Shame In Getting Financial Aid

Hence, don’t be deterred from applying to schools out of your price range. You never know what type of aid you will receive and if you don’t apply, you’ll never know whether you’ll get in. It’s even possible to get financial aid with a multiple six figure salary!

When I was in HS, I felt so guilty for my parents that I just applied to the local state schools. They were government employees, and didn’t make a lot of money. I sometimes wonder whether I would have been able to get in.

The article also goes on to highlight that the degrees with the highest salaries include: Aerospace Engineering, Chemical Engineering, Computer Engineering, Electrical Engineering, Economics, and Physics.

Coincidence these majors don’t sound easy, probably not. It really is too bad that Social Work, Music, and Education are at the bottom of the list for salaries. If I were President, I’d pay these professions the most!

Related: Bankers, Techies, Doctors, And Lawyers: You’ll Never Get Rich Working For Someone Else

Nothing Is A Guarantee

Sure you want to be set for life and want the same for your kids. But, alas nothing is guaranteed. You could go to the top school in the nation, quit your job and end up broke and alone. On the other hand, there are countless examples of people who didn’t go to any of the schools in the survey, who’ve done incredibly well for themselves.

Heck, I went to public school for High School and College and turned out ok… I think. But, when people from these schools continue to dominate the senior management positions at many of America’s leading firms, we may be at a disadvantage if we want to reach the very upper levels of the firm.

Look around at your managers. It’s not a coincidence that if Boss X went to Cornell, Boss Y right under Boss X also went to Cornell. You can take this analogy further to people in terms of sex and race. People like to be around people who are most similar to them. Just look around, and you’ll notice the “coincidences.” It’s just human nature, and it is what it is.

Many of us who are already working and didn’t got to a top school may ask, “I can’t rewind my life and go back to 9th grade, RB, so what now?” The good thing is that once you enter the work force, your success is largely up to your own performance (see “Rich People Try Harder: True or False?”)

Get Set For Life With An MBA

If you feel that performance alone isn’t good enough, look into part-time graduate programs (see “To MBA or Not To MBA“) or full time graduate programs.

No question many of us have had different economic upbringings and different maturity profiles while growing up. The way I view grad school is that it’s a second chance to try again if you’re unsatisfied with the first go around. You’ve got your entire life to work, contrary to the title of this blog!

Another thing to note is that going to a local grad school may often yield better dividends than a higher ranked school e.g. going to UCLA if you work in LA may carry more weight than going to Columbia, same thing goes for going to University of Wisconsin if you live in Madison and so forth.

Nobody really knows how successful one will be in their careers. All we can do is work hard, work towards harmonious relationships, and arm ourselves with as many weapons possible to combat in the work jungle.

Related: The Secret To Your Success

Readers, what are your thoughts on the relationship between expensive elite private schools and your ultimate success in your career? I especially would like to hear stories of triumph proving all these survey’s wrong.

Recommendations

Learn More, Make More Money. Here are some additional resources I’ve put together that will help you on your financial journey to earn more, save more, and hopefully double or triple your income!

  • Take advantage of free online financial tools: Free Wealth Management
  • Explore my top financial products recommendations
  • Learn how much you should aim to have saved in your 401(k) by different ages. The numbers could surprise you.
  • Look beyond your salary and start earning passive income. Here are the best passive income streams I recommend.

Refinance your student loans today. Check out Credible, a student loan marketplace that has qualified lenders competing for your business. Credible provides real rates for you to compare so you can lower your interest rate and save. Getting a quote is easy and free. Take advantage of our low interest rate environment today!

Regards,

Sam

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