Sunday, July 22, 2007

About Me/ About Craving Wealth

About Craving Wealth

I decided to create this blog to keep track of my progress in accumulating wealth. Wealth to me means two things: knowledge and assets.

I do not claim to be a finance expert. I am here to share and to learn. At the end of each month I will post my updated net worth and information regarding my investments.

I encourage everyone to post their opinion; pro or con. Doing so will create new ways of thinking about things for me and you. Challenge each other!

Every once in a while I won't even post anything related to finances. When football season rolls around, I may start a little trash-talk with fellow readers that follow the NFL. If a new tech gadget is set to release, I'll post about that. I'll do my best to keep the topics and information on this blog fresh and original.

I hope this blog is one you decide to visit time and time again. Bookmark it!

About Me

I recently graduated with a B.S. in Advertising and a Minor in Marketing. I've lived in Miami, FL since the age of 2. i was born in one of the poorest countries in the world; Nicaragua.That in itself is motivation for me to do well. I do speak Spanish and I'm not afraid to throw some Spanglish at you, lol. I work for a Major Pro Sports team in the Broadcast Industry. I love my job but currently I'm looking for full-time work in various fields including: internet, marketing, advertising and broadcasting.

I am fortunate to have a wonderful girlfriend and no kids (hallelujah!). I still live at home for the time being but within the next year or two that is likely to change.

Currently, I have a retirement account and a savings account. In the near future I hope to open a taxable account and save for a down payment on a home. Before I do that though, I want to get rid of my credit card debt and student loans (I will post about this at the end of the month). To accelerate that process, I plan to increase my streams of income.

If you have any questions for me, you can email me at cravingwealth@gmail.com.

Miami aka The Magic City- Just An Illusion?

When out-of-towners think of the City of Miami, what comes to mind? Let me help you out:
  • Beautiful Weather
  • South Beach
  • Hot Women
Granted, those are great reasons to live here. But recently, Miami has been topping the headlines everywhere; for all the wrong reasons. This Sun-Sentinel article highlights the ridiculously high-cost of living in the Magic City. According to the article, housing costs are growing at a 6.7% annual rate and rent is even worse at 9.9%. Overall, the CPI grew 4.4% in May & June of this year compared to 2.7% for the rest of the nation.

Living in Miami gets uglier when you find out it has the
rudest drivers in America. This isn't even new news since it's the second year in a row that Miami tops the list. One person interviewed attests to the situation: "I've seen everything. I'm from L.A., and we don't see the crazy drivers that you see here".

Finally, Forbes.com ranked Miami to have the
shakiest real estate in the country. The problem stems from the high inventory rates and not enough buyers. Add the 6.7% increase in housing costs and you have a bad recipe.

I've lived in Miami all my life and I have to say that all these negatives are very visible to me in my everyday life. It gets to the point where I feel I must make the decision to leave the city if I ever want to attain wealth. Something not mentioned is that salaries are lagging; they are not keeping up with all these increases in cost of living. In places like LA at least the salaries tend to more or less reflect the cost of living. But not in Miami. Being a recent college graduate with 4 years of professional experience who is looking for full-time work, I've been offered measly 20k-25k salaries. I've checked craigslist, careerbuilder and others job sites and companies are asking for a plethora of skills and experience but rewarding you with chump change.


How many of you found it necessary to move to the Boondocks (small towns/cities) to accumulate wealth? To those of you who live in metropolitan areas, what advice do you give to recent college grads that face conditions similar to the city of Miami?

You're in the Right Place- Welcome

If you crave what I crave, then you're in the right place. This is my official Welcome post to all who come across this blog.
I'll post about anything and everything related to money, investing, savings, debt, finance education, health and fitness, sports, credit cards and much much more including my own adventures to satisfying my craving for wealth.
I invite all of you to share your personal experiences, opinions and expertise. Hopefully, we can learn from one another.

Respectfully,

DeMo