Should The Beneficiaries Of the Madoff Scandal Be Punished?
You've found the Realm of Prosperity! If you're new here, you may want to subscribe to my RSS feed. Thank you for visiting and I hope you enjoy the posts!
Without a doubt, Bernard Madoff’s investment scheme did financial and emotional damage to all of his victims and whether his sentence does justice to the people he hurt is still up for debate. Now we question whether the people who directly [and indirectly] reaped the benefits of his scandal should have any repercussions for being affiliated with Madoff.
Ruth Madoff
The recent media coverage of Ruth Madoff have forced her to be accountable, to a certain extent, with the assets that she is in possession of due to the funds that Bernard Madoff had illegally acquired. As of last Friday, June 26, she has dropped her claims to $80 million in assets. Even after doing so, she is still under pressure to give up a remainder of whatever is left.
Ashamed of her husband’s deceit, she seems to want to mend the situation as soon as possible. With the victims of the scandal seeking redemption, they’ve turned to condemn Ruth for Bernard’s action although she appears to be innocent and unaware of what was going on.
Even with her willing to drop claims to a majority of her assets, should she be entitled the keep the rest? The victims would deem her as a partner in crime because Ruth has a part of their money and they want it back. If your spouse fed the family through unlawful activity, should you and your children be responsible?
The Biggest Winner
As investigators dig deeper, they’ve found a long time investor who truly received benefits that exceeded those of Madoff’s. The Picowers family is the alleged biggest beneficiary of the Madoff scandal. Although there seems to have been fishy activity, the Picowers have made large charitable donations to foundations and institutions. Will there be a lawsuit against the museum or the education center because their funds can be traced to the scandal?
Certainly, those directly involved should have consequences and they should lose whatever money they obtained through any illegitimate method but the victims of the Madoff scandal are on a relentless pursuit of any money that could possibly be returned to them. Next we’ll have to ask, how can you fairly return the money to the many investors if doing so is even possible?
These many questions won’t have definite answers but this event is a thought-provoking situation and readers should take the positions of both parties to understand but not to judge.
Photo credit: clementine gallot and sabeth718
Starting To Use eHow.com For Passive Income
Even after signing up for at eHow about 1 year ago, I never took it seriously until a friend recently signed up also about 2 weeks ago. Since then, I created a new account and started to publish articles there.
From the 6 articles that I have in my library so far, I’ve earned only $0.56. As everyone probably has heard, there are people popping up all over the internet saying that they make over $1,000 per month with their articles. Although I highly doubt that would be a typical experience of every writer, I do find that earning $20-$30 per month seems plausible.
Sometimes I feel like I can spit out a few How-To’s in a day but I keep thinking in the back of my mind that I should be concentrating on personal finance posts instead. Well, with my constant studying as of late, I’m not as involved in the personal finance realm while How-To ideas keep spilling out from my head.
Nevertheless, this blog is my primary concern and eHow will be a venture that I hope to pursue for the sake of finding out if this program really works and may be worthwhile to myself and others who are thinking of signing up also. I’ll be posting up results and earnings when possible to track my progress.
How A Prepaid Cell Phone Plan Saves Me Money
The world has become a place where everyone from 1st graders to senior citizens have cell phones. With this new age in telecommunications, companies can provide expensive phone plans and consumers will still pay it. Basic individual monthly charges can start from $39.99 for a few hundred minutes per month. You want data services? That’s another $20 on top. With a $60 phone bill before taxes, fees, and other charges a month, it is quite a financial burden for anyone.
Why I Chose A Prepaid Phone Plan
Three years ago, I was an active seller on eBay and sneaker forums. As with every person selling stuff on the Internet, I wanted to provide prompt responses and excellent customer service. I found this difficult since I would go to class or go out and not know what was happening online. This was the primary reason for my need of a phone plan with email and web browsing capabilities. After about a week of research, I found the perfect solution to my needs – a Sidekick III with a prepaid plan by T-Mobile.
My Costs and Savings
For $1 per day, I have unlimited text messages, email, instant messaging, and web browsing. Phone calls are $0.15 per minute. From the statements of previous phone bills, I find that I never use over an hour of minutes. So in a typical month, I spend about $40 with no additional charges. Compared to the regular individual plans, I save $20 because I do not need those extra minutes. The unlimited texting and instant messaging has also reduced the need for calls since many of my friends also have phones with the same capabilities. So with this prepaid plan I get:
- A nice trendy phone with QWERTY keyboard and MP3 player (another bonus).
- Unlimited access to my emails, text messaging, instant messaging and web browsing (unlimited tweets!).
The Secret To Saving Money With Prepaid Phone Plans
The true secret to saving money on prepaid plans is located at CallingMart. This site sells prepaid phone refills at a small discount but sometimes they give specials and coupon codes that give an even larger discount. Another great perk is that I created an account and built up points through my purchases over the years and can use them on future purchase. Discounts plus a rewards program?! Stupendous!
For those considering prepaid plans, make sure to visit that site. My choices may be a great option for parents who have teenagers who are addicted to texting and the online world. This is a great way to encourage independency and financial maturity.
(I receive referral commissions through CallingMart but I am a truly satisfied customer and proud to share it.)
Photo credit: alforque
Pinecone Research Signup Link – June 2009
The PineCone Research panel has just opened up again and they are looking for new members! I’ve been with them for over a year already and they are by far the best paid survey group out there.
From the referring links that I check through SiteMeter, I see that many of them arrive at my blog in search of this highly rare chance to be a part of such a great research panel. PineCone Research typically has ads on certain websites and clicking these ads are the only way one can apply to become a member. It is a highly selective and exclusive panel with swift payouts of $3 USD per completed survey. I know many people are looking to be accepted into this panel. PineCone Research is certainly at the top of my list of online money making opportunities.
They sent me an email asking me to reach to other would be interested in joining. So, if you’d like to join, click this link:
http://www.pineconeresearch.com/signup/ds548Referral1.asp
They do pick individuals of certain demographics. If you are selected to join, you should receive an email within a few days that you’ve been chosen.
Note: Only one member per household.
Sign up before it expires and good luck!
How Much Debt Do I Have After 4 Years Of College?
Credit cards, car loans, and student loans are the most common portals for a college student to fall deep into debt. Some come out so far down the hole that it takes years to clear their debt. I, on the other hand, am much more fortunate than most students.
My Debts
I attended a state school so my tuition was less than that of out-of-state residents. I have no car. My first credit card was opened in my 3rd year in school and I was responsible with it. As far as school loans go, I only borrowed money for 6 semesters out of 8 and I never borrowed the full amount available to me. Also, I utilized this great advice to college students which gave me some financial aid from grants.
- Subsidized Stafford Loan @ 6.441% – $6,352
- Subsidized Stafford Loan @ 3.610% – $2,625
- Credit Card – $320
- TOTAL DEBT – $9,297
Paying Early To Pay Less Interest
So after 4 years of college, I owe approximately $9,297. The first installment is due 6 months after the date of graduation, which would be in December. Although I don’t have to pay anything back as of now, I want to begin sending payments in even before they have to ask for it. This way, I will end up paying less interest.
I have to say that owing $9,297 feels like a dagger in my chest. Then again, my situation is nothing compared to those who attended more prestigious colleges or received less financial aid.
Photo credit: afagen
