Weekend reading

Good reads from around the Web.

More respectable readers may not know about the “date a stripper” desperation aspiration that permeates the darker corners of the modern male psyche, just as surely as some women still search for their fantastical Mr Darcy.

WHY WAIT? For just $29.99 plus 17 easy installments of $7.19 a month, you can gain access to top tips and videos from an aging Lothario with a badly fitting hairpiece who’ll reveal how to make a professional naked lady your own!

Now I’ve got nothing against strippers. And as a full-blooded – if irredeemably bookish – male, I get the superficial appeal of coming home to one, too.

But I’ve always thought it must be pretty tiresome when your other half pays for her share of the bills in sweaty £10 notes. Not to say competitive, when she’s receiving half a dozen marriage proposals a night.

This week though I discovered an exotic dancer after my own heart – one for whom I might be prepared to overlook the downsides.

Tara Mishra, a 33-year old stripper from the brilliantly named Californian town of “Rancho Cucamonga” has been given $1 million back by police who mistook her stash for drug money.

That’s quite a sum for anyone to have amassed by their early 30s. But I’m not a mere gold digger – it is more how she got her $1 million that impresses me.

Yahoo reports that Tara:

…began putting aside her earnings when she started dancing at age 18… The money was meant to start her business and get out of the stripping business…

I presume the cops who pulled over a car and discovered $1 million bundled together with hair bands could not believe anyone could legitimately amass that sort of money by 33, let alone someone in her line of work.

But I recognise a kindred spirit when I see one.

I just wish Tara was a reader of Monevator. There are better places to invest your life savings than into a new nightclub with friends, and better ways to transfer your money than in the boot of a rented car.

In fact, the use of cash suggests Tara hasn’t even got a back account. Compound interest could have got her to her target years earlier, even if she’d kept her savings in a cash deposit account.

Tara’s plans remind me of those of another profession with a short, lucrative shelf-life – sportsmen and women, who often lose the lot when they leave the field.

Risky business

Perhaps $100,000 would be a good amount for Tara to gamble on her own business. The rest could go into a well-diversified passive portfolio.

I’m sure it wasn’t easy earning $1 million as a stripper. But it’ll be one hundred times harder if she has to start again at 33.

If you do happen to come across this article, Tara, then please do read this one on wealth preservation.

And… um… any plans to visit London? ;)

From the blogs

Making good use of the things that we find…

Passive investing

Active investing

Other articles

Product of the week: Furness Building Society is offering a three-year fixed rate mortgage at 3.45% (and a £995 fee) for those with a 10% deposit. According to This Is Money, 10% is the sweet spot for mortgage deposits.

Mainstream media money

Some links are Google search results – in PC/desktop view these enable you to click through to read the piece without being a paid subscriber of that site.1

Passive investing

  • Buy and hold investing takes a lifetime – Motley Fool
  • Finding Wall Street’s pot of gold – MoneyWatch

Active investing

  • How to tell when a dividend is under threat – Telegraph
  • Swedroe: Are behavioural funds superior? – MoneyWatch
  • The unheard defence of big Wall Street banks – Motley Fool
  • Emerging markets: The great deceleration – Economist

Other stuff worth reading

  • Risks and rewards from peer-to-peer lending [Search result]FT
  • Funding for lending has slashed interest on savings – This is Money
  • Baby Boombers have done much better in the recession – Economist
  • You have to live to 100 to make 5% on even the best annuity – Telegraph
  • …though living too long is a risk for others – MoneyWatch
  • Help to Buy: What’s the catch? – The Guardian
  • How to make money from your vegetable patch – The Guardian

Book of the week: Politicians who believe they can cherry-pick entrepreneurs to enact the social change they want should read Worthless, Impossible and Stupid, a warts-and-all celebration of true wealth creation. There’s a precis in The Economist.

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  1. Reader Ken notes that: “FT articles can only be accessed through the search results if you’re using PC/desktop view (from mobile/tablet view they bring up the firewall/subscription page). To circumvent, switch your mobile browser to use the desktop view. On Chrome for Android: press the menu button followed by “Request Desktop Site”.”

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