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Wealth Isn't the Only Mark of Achievement
by Laura Rowley
Yahoo!
Finance readers had plenty of opinions about my recent columns on
educational achievement, the psychology of regret, getting the best
deal on phone service, and more.
Educational Success: Beyond Money
You recently referenced the findings of the Chance-for-Success Index. I guess what peeves me about many articles in the same vein is the continuing discussion correlating money to achievement. This is just part of the equation and perhaps not the most important part. What seems to be lost is the basis for the wealth possessed. It's as if the money is what directly influences levels of achievement, when in reality it's more likely the attitude, behaviors, and values of those that have achieved success, and their conveyance of those same values to their progeny, that provide the drive to succeed. --Lyle Boyea
In
the article regarding the Chance-for-Success Index, you wrote a
sentence with which I disagree: "Families can get stuck in a vicious
cycle: It takes money to give your child a superior education, and it
takes a superior education for your child to make money." It doesn't
take that much money to give a child a superior education. I taught my
four-year-old son to read with a book that cost less than $20 ("How to Teach Your Child to Read in 100 Easy Lessons"). He entered our public school kindergarten reading on a second-grade level. I'm teaching him math with the Miquon series:
around $15 for the teacher's guide and $6 for each of the six
workbooks. Now, in first grade, he can multiply fractions with whole
numbers, but he dislikes division (!). The grammar book I'm using cost
just over $20 and the science experiment book cost less than $20,
although the materials for the experiments will be an additional cost.
I spend less than $100 annually and 30 minutes on weekdays educating
him. Yes, there are other activities that cost time or money -- Little
League sports, church choir, going to our university's art museum --
but I've certainly supported my point that a superior education is
cheap and fulfilling for an educable child. --Sherrie Campbell
Work vs. Play: Managing the Tradeoff
That was a very interesting article on "The Psychology of Regret."
About 12 years ago I was faced with a dilemma. A colleague had come up
with four tickets to the U.S. Open practice round at Oakland Hills. The
tickets were for that day only. I had a ton of work to do and really
agonized over using them or not. At that point I "invented" the
five-year rule for myself. It goes: "Five years from now, which choice
will I wish I had made?" I chose the golf and was extremely happy I did
(I saw Tiger Woods, Jack Nicklaus, and Tom Watson playing together) --
no regrets. The work was still there the next day. ... I've recommended
this type of decision-making tool for others as well, including family
members. --Chris Kirchenbauer
I
am definitely a "hyperopic" person. In spite of the fact that my
husband and I (both in our early 40s) are very well-off with net assets
of close to $2 million, no kids, and zero debt other than a small
mortgage, I have a very hard time spending any money without major
guilt, and usually always limit myself to "practical" things instead of
stuff that I just want. My husband constantly nags me not to work so
much (thank God for him, otherwise I'd never have any fun). We love to
travel (the one thing I will spend money on), but even then, he has to
remind me to just relax and not think about the fact that I could
otherwise be at work earning yet more money that I don't really need.
Intellectually, I know that when my life is passing before my eyes at
the end, I won't be grateful for how much I worked, but rather
regretful that I didn't take more time off. Unfortunately, knowing that
and actually acting on it are two very different things. --J.M.
Phone Follies
While I agree with most of what you wrote in your column about cost versus quality perception ("You Get What You Thought You Paid For"),
I think you made an unfair characterization of Vonage. I've been using
Vonage for almost a year now and have found it to be extremely
reliable, with sound quality indistinguishable from a traditional land
line. People don't know it's a Voice Over IP connection unless I tell
them. And there was no problem transferring my phone number. So now I
pay $18 per month for phone service, where I used to pay $55 for a
comparable package from AT&T. So, yes, I do consider myself a
"savvy consumer" for doing this. I've heard complaints similar to
yours. But mostly the complaints are the result of inadequate and
unreliable Internet connections. --G.C.
I've
heard plenty of folks complain about Vonage lately. Don't give up on
cheap phone service quite yet. Give it one more try with Packet8
(ignore the horrible techie name). I've had it for more than a year
with no complaints. Sound quality and reliability are excellent. I may
have dropped three calls in the past year (how many cell calls have you
dropped in a year at three times the price?). It's even cheaper than
Vonage per month. ... Just to hedge my bet on phone service, I kept my
old number and simply dropped the service to a $12 per month metered
line. This lets me dial 911 and toll-free numbers, and receive any
number of inbound calls. It's like a second line that works well for a
family, and it meant I didn't need to update any contact phone numbers.
My Packet8 line functions as a normal line, on which I do all my
outbound calls. The second line also serves as backup if the other line
fails. --Dave Maki
Too
bad about your telephone experience. If you have a land line, you can
choose your long distance provider to help control long distance
charges. I use Pioneer Telephone,
which charges 1.9 cents per minute directly to my credit card every
month, with no minimum or access charges. Since I mostly use a cell
phone for toll calls the charge is usually under $5 a month, but it is
always available if I need it. --Craig Deluhery
House Proud
I just wanted to let you know how much I appreciated your article on Yahoo! Finance about single women buying homes ("Real Estate and the Single Woman"). I felt very proud of women like me who are not waiting around for a man to come along to start becoming adults and nesting. I particularly appreciated your message in the final paragraph, acknowledging that there's a subset of the adult female population that's single and has no plans to have children. I happen to fall into that category, and it's so refreshing to be recognized as existing! --M.M. ]
SOURCE: http://finance.yahoo.com/expert/article/moneyhappy/23425
