Jamaican Yakezie Round Up, James Patterson, and Uncommon Money News (Vol. 99)
|June 22, 2010||Posted by Roshawn Watson under Uncategorized|
By: Roshawn Watson
Greetings from Jamaica! If you have never been to a 3rd world country, the experience can be quite enlightening. My most recent experience is going to Jamaica. I went because I was a groomsman in a friend’s wedding; however, I did have some down time. For example, I actually climbed the Dunn River Falls, a 600-foot waterfall. To say this experience was an adventure would be a gross understatement; indeed, had I known how rigorous it was, I might not have done it. It was a lot of fun though. I also got a chance to read a few books that you may be interested in. Not all of the books were personal finance or business related either. One book that I enjoyed was “I, Alex Cross” by James Patterson. Although this is definitely a murder mystery, it did cause me to ponder two issues related to personal finance. First, if a close relative was sick in the hospital, I would want to be in a financial position so that I could simply stay with them to care for them well without worry of the financial implications of such a decision. Second, I wondered if I had to “disappear” within 3 days, how much could I take with me and where would I go? Both questions speak to financial security and liquidity; don’t discount them merely because they arise from a fictional murder mystery I will discuss the other books in subsequent posts. Lastly, I’m always on the look out for personal finance nuggets, and what I found out about the Jamaican economy was quite interesting.
Interest rates on mortgages are REALLY high (19-31%), which is why almost no one gets a mortgage.
Beach front properties can range between $100K to $450K range; of course some are way more expensive.
Average income is approximately $30 USD a week (unverified)
I also used a Jamaican ATM to get $2300 Jamaican dollars, which equates to about to about $27 USD since the exchange rate was $85 Jamaican dollars to $1 USD.
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Yakezie Round Up
MBA Course: Investing & Portfolio Management-Class 3-The Lazy Investor’s Guide to Asset Allocation (Another Great Post from Barbara Friedberg)
Target Date Funds-Should You Do It Yourself? (DIY Investing – Great question)
Behind the Green Curtain: An Insider’s View of the Millionaire Mind (Fabulous read at Len Penzo… It’s like millionaire next door, inside a millionaire’s mind, and Rich dad poor dad all wrapped up into one)
Carnival of Financial Planning – Edition #146 at Money Smart Blog
Happy Father’s Day, From One Proud Dad To You! hosted by The Millionaire Nurse
Copyright 2012, Roshawn Watson, Pharm.D., Ph.D. All Rights Reserved.