| Real Life Strategies for Building Wealth

What started at the end of 2011 has been still going strong in the first week of 2012 – goal setting. On the one hand, I applaud the optimism – people go to so much trouble to set and perfect their goals, or for that matter offer advice on how to do this, only when they believe that they have agency and control.

On the other hand, my choice for this week’s round up was rather restricted by this. There are some really good posts setting out specific and measurable goals. By all accounts and forecasts, the year ahead is likely to be a turbulent one; having firm, measurable goals when all is changing fast around us can be counterproductive. But who am I to judge; I just think that being flexible, adaptable and open minded in such environment is more important than being specific and measurable. So, no goal setting posts in this edition.

This leaves us with forecasting and predictions.

Sam at Financial Samurai had a spooky rate of hits with his last year’s predictions. Leaving aside the small matter of how did he manage to predict accurately some of the events I thought that having a look at his predictions for 2012 is well worth it. My personal favourites are the ones about the surge in online advertisement and finding fortune and flatter stomach (love is important but I already have this one, I think). ‘From your mouth into God’s ears, Sam’, is what I say.

Len Penzo also had a rate of hits on his predictions lasts year that justifies a look at his 8-Ball Predictions for 2012. Pants, I missed my chance to ask a question (or several) but there is always next year (if the prophesies of Doomsday are wrong, this is).

Nelson at Financial Uproar had a stock picking contest. The Misfit Bloggers Stock Picking Contest has straight forward rules: bloggers pick four stocks and their performance is checked every three months; then someone wins and someone looses. This is life! Some of my favourites were among the ‘misfits’ like Fabulously Broke, Canadian Personal Finance, Control Your Cash, My University Money, and Sustainable Personal Finance. I don’t agree with any of the sets of choices but only time will tell. Does this qualify me as a ‘misfit’? No, I didn’t think so; but then there is so much more.

The New Year also saw the birth of Grant per Month. Good luck with it, guys! Looking forward to insightful and inspired posts!

My forerunner this week is the Monevator. People in the UK fall very easily into the trap of believing that their house (the one they live in) is their main investment. The Investor published Historical UK house prices analysis where he compares this to the performance of shares in the same period. If you guessed that they performed ‘neck to neck’ you will be right. Go read this article!

And finally, last week The Money Principle was mentioned by World of Finance and by Aaron Hung. Thanks, guys, and glad you enjoyed what you read here. I will have to start submitting to Carnivals! Or let’s be positive and non-normative: wouldn’t it be great if I were to submit to (and be accepted by) more Carnivals!

That’s it for now. See you next week.