Its unfortunate, but many consumers have very poor money and risk management skills. The objective of our commentary is to educate and inform the average investor, and the average consumer. We do not need to inform the wealthy since they acquired their wealth by practicing many of the ideas I talk about everyday.

I try my best to educate investors/consumers to become wealth accumulators, but unfortunately the desire to consume, and make others wealthy takes precedence over accumulating wealth for themselves.

I have been warning readers for quite sometime about the dangers of buying into mortgage lenders sales pitches on adjustable rate and interest only mortgages. Of course, those who bit into the lenders sales pitch are experiencing some real pain.

Here is a readers comments from my last post, " Higher Interest Rates: No Surprise to Me", written yesterday:

Like most guys, you don't think about the low enders in our economy. The people with adjustable rate mortgages are about to be blown up, these are usually the people with "credit problems" and the like. People who borrowed at 1-1/2 percent are doomed unless they make a lot of money. Could be horrible for the housing markets.

First of all, I cannot help what uninformed people do. And secondly, I use to be a low ender myself. By making some changes in the choices I was making, I switched ends.

One reason I decided to do this blog was to provide some sound and sensible ideas for everyone, regardless if they are low enders or high enders.

If a mother tells a child do not touch a hot stove because it will burn them, and the child touches the stove anyway, the result will not be good.

In America, we make our own choices. We choose where we work, we choose whether or not to get up in the morning, get an education, take drugs, who we marry, and on and on. We cannot blame others for the choices we make. That burden falls squarely on the shoulders of the person making the choices.

Making the wrong choices often results in some short term pain. While I do not wish misfortune on anyone, sometimes learning from one's mistakes is the best teacher. Personally, I like to learn from other peoples mistakes, as well as their successes.

Of course, that's how I chose to run my life. Everything has a probability, an outcome, and a history behind it. Skydiving without a shoot has a high probability of a bad outcome. So does investing in adjustable rate mortgages when interest rates are at 40 year lows.