Mission of The Norman & Elaine Polsky Family Supporting Foundation:
The Norman & Elaine Polsky Family Supporting
Foundation wants to assist those 501(c) (3) organizations having an annual
budget of under $5 million dollars, which will help themselves to establish
a Polsky Endowment thus encouraging them to establish other endowments.
It is our belief that without endowments, they will have no future.
Norm Polsky’s Personal Advice
11/11/06 “Some Enchanted Evening” – beginning of Norm’s
speech:
When you are old and rich, some people ask you for your advice…Well,
(14 Years ago when I was only 68), Purdue University asked me to be an
“Old Master” and tell them what it takes to be successful.
I told them what I try to live by daily takes TEN COMMANDMENTS:
- Long-hard-fast-organized hours everyday- don’t waste time.
- Continued learning after Purdue - join associations - attend conferences- get a second degree or a masters.
- Build your network of people - don’t burn bridges with anyone.
- Ethical every day of your life - do what is the right thing to do no matter what.
- Kindness is contagious- Catch It! And the Golden Rule to help others.
- Obtain a mentor - someone you respect and would like to emulate.
- Physical fitness - positive mental attitude in spite of various cross currents from those who say it can’t be done.
- Have a sense of humor - even about yourself.
- Build your Brand -You!
- Write your CREED - review it frequently to get back on track.
DO YOU KNOW, THAT PURDUE NEVER ASKED ME BACK AS AN “OLD MASTER”!
Norm Polsky’s Financial Advice
Read from “Yes, You Can… Achieve Financial Independence”
4th Edition book by James Stowers, Founder American Century Mutual Funds.
Read these five pages first, then the whole book and pass it on to your
next generation so they don’t become a financial burden to you.
Norm’s Strategies Mutual Funds Investing learned since 1970 in addition
to Jim Stowers Principles above.
- I stay fully invested as I cannot guess the market timing.
- I cannot buy and hold any mutual if I can quarterly find a better replacement Mutual Fund then I do so.
- I do not watch daily results of the stock market, which is like a roller coaster and can give you heart failure. I spend one day quarterly to evaluate each mutual in my portfolio and look for future replacements.
- I do not rely on investment advisors- if they are so smart, why do they have to work? Don’t have a mind-set! Anyone can learn mutual fund investing (young or old, women or men).
- I listen to Adam Bold, Suze Orman and Peter Newman as they do have good advice.
- I believe most people will outlive their retirement funds with no Social Security or Medicare or Company pension plans! If you retire at age 65, inflation 3.1% per year in 20 years has the purchasing power of only 38% work past 70 ½ to invest in a non-taxable Roth IRA $416.66/month (%5,000/year max allowed if you qualify).
- I believe people should pay off bad debt credit cards, before saving to invest monthly for dollar cost averaging. Home mortgages are good debt as interest is deductible and home values appreciate.
- In December I establish realized gains by selling the difference between market value and cost each Mutual and with those funds generated buy more Mutual Funds for better safety through more diversification.
- I’m not concerned with tax consequences, commissions going in or annual costs-charges as long as my Rate of Return (ROR) is 20% or greater.
- I buy Mutuals that invest in any Cap stocks for Blend (Value or Growth) and that have less than $10 billlion Total Assets.
- I do not invest in Mutuals without a 3 year history with a successful manager as today’s hot mutuals are usually next year’s losers. I strive for Mutuals doing better ROR than S&P 500 in up/down markets.
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