Actor/economist Ben Stein recently wrote a brilliant New York Times article on the economics of love. Believe it or not, many strategies for making big bucks on Wall Street can also earn you huge dividends if you apply them to your love life!
Do you want to be rich in love AND money?
If so, check out Stein's best 5 tips:
1. Stay with high-quality human beings. And once you find that you are in a junk relationship, sell immediately. Junk situations can look appealing and seductive, but junk is junk. Be wary of it unless you control the market. Or, as I like to tell college students, the absolutely surest way to ruin your life is to have a relationship with someone with many serious problems, and to think that you can change this person.)
2. Research pays off. The most appealing and seductive (that word again) exterior can hide the most danger and chance of loss. For most of us, diversification in love, at least beyond a very small number, is impossible, so it's necessary to do a lot of research on the choice you make. It is a rare man or woman who can resist the outward and the surface. But exteriors can hide far too much.
3. In every long-term romantic situation, returns are greater when there is a monopoly. If you have to share your love with others, if you have to compete even after a brief while with others, forget the whole thing. You want to have monopoly bonds with your long-term lover. At least most situations work out better this way.
4. The returns on your investment should at least equal the cost of the investment. If you are getting less back than you put in over a considerable period of time, back off.
5. When you have a winner, stick with your winner. Whether in love or in the stock market, winners are to be prized.
Read the entire article here: Lessons in Love, by Way of Economics
Published On: August 06, 2008