Memorable money mistake: "I once tried to become a day-trader. I lost thousands."

Smart money move: "Back in 1993 I was reading an article - in Money Magazine, actually - about how to organize your finances. I realized I had no idea where I was financially because I trusted this one individual who was my business manager then.

"I told her I wanted to see every single file and report. There were 23 file boxes, full of mostly garbage, and nothing was organized. I ended up with about four boxes. I took a bold step, and I fired her."

What I tell my kids: "They learn there is no such thing as free money, and as a result they're very careful. My wife and I give them a credit card, but they're responsible for paying the bill.

When they're old enough to drive, I pay for half of their first car. If they can't afford their half, then they can't buy the car."