Free Financial Lessons

Financial Basics, Tutorial #9, Pool$ of Money

This video tutorial is available for watching at YouTube or here for free. My YouTube name is Featureman.

The subject of this video is Boards of Directors and other bodies that handle large, and sometimes, very large amounts of money.. If you study the Forbes 400 you will see that most of the super wealthy members of society belong to either a Board of Directors or a Board of Governors or a Board of Trustees. Like the Congress of the United States, these entities are not likely to vote "No" for a pay raise, or an incentive or a stock option for themselves.

I do not now, nor have I ever belonged to any such Board. It might be right for some people. There are many honest people who attend Board meetings. Being on a Board of Directors or Trustees can be very legal, very ethical and it can seem quite noble. Whether it is a corporation or a charity or a college or some governmental body, people have become rich by getting together in Board rooms about once a month and doing good things, sometimes for themselves. Do search more info if it is something you want to pursue. This is merely an introduction.

Dream big, but invest with caution

To test your skills at handling pools of money, I recommend beginning with something simple like a collective lemonade stand or a Halloween party. Next try belonging to a Homeowner's Association. To actually be in a position to belong to a board, be a volunteer with your Chamber of Commerce or a charity. Become high profile and study Robert's Rules of Order. Good luck.