You think Americans are feeling elevated risk? You wouldn't know it by looking at the stock market. But how are you doing on a local level? Are you taking small steps every day to secure your situation? You don’t have to change your world in a day. Focus on what's right in front of you. That's what's most important. Here are some thoughts looking out at my backyard: Are you seeing local prices higher or lower? Here, the price for food at the grocery store is up, while remaining pretty steady at restaurants. What isn't going up is the yield you're earning on the S&P 500. Yields are … [Read more...]
There’s Always a Way Forward for Americans Like YOU
How did you learn how to make money? In reviewing a package of financial documents with a prospective client last week, he included his social security estimates. It was like finding a piece of gold as far as I was concerned. Why? Because it showed me that he began working at age 16. I was able to see what he made of himself during a lifetime of work. It’s better than reading a best seller. I said to him, “It’s nice to see how much you’ve been able to save all these years, but what stands out the most is I see you started working when you were 16-years old.” He replied, “I guess that’s what … [Read more...]
Do You Remember When NASDAQ Dropped by 82%?
If you’re not a client of mine, and know someone that’s loaded with tech stocks, help them take a look at the overlap in their portfolio. Have them look at their mutual funds and ETFs, and read the prospectus. Look at the top ten holdings. Chances are they’re all loaded with the same small group of GROWTH stocks. Remember, even trees don’t grow to the sky. There’s a shelf life, there’s a limit. If you stick with a VALUE approach (you are if you’re with me) then you’re building in discipline, like a New Year’s resolution, by sticking to a plan. Combine this approach with the Prudent Man rule, … [Read more...]
Don’t Be on Their Radar, Get Out of Debt Now
If they’re going to penalize you for saving, you had better learn how to play their game. Because indebted Americans are their bread and butter. Charging outrageous interest rates on credit card debt and paying zero on savings is one of the ways they stick it to you. And imagine all the information they have on you. It’s scary to say the least. That’s why I want you to stop playing their game. If you’re in debt, I want you to devise a plan to get out of it. Whether it’s a six-month, one-year, five-year, or ten-year plan, I want you out of debt. Because when the world can change literally … [Read more...]
H2O, Skiing, Hiding A$$ET$, Bitcoin, Ammo & More
In my conversations with you, you’re telling me the skiing out west is great. The liftlines, not so much. Turns out Covid’s a ski buddy. It’s not unusual to see chair, after chair, after chair, with one skier per chair, each from the same group, to social distance. Insane. At least the skiing’s good. You’re telling me from Park City/Deer Valley up to Big Sky and Whitefish, MT, it’s good to be outside. I hear you. We ventured out to the slopes here on the east coast between Christmas and New Year’s and had to contend with Covid liftlines too. The skiing? A little dicey. One run from the top … [Read more...]
Stocks: Are You Sticking Your Neck Out Too Far?
There’s no doubt some stocks are in a bubble. When the bubble will pop is another matter. But pop it will. It’s why I want you to take inventory of what stocks you own, and why you own them. What are they worth? Are you sticking your neck out too far? Has there ever been a better time to be with an advisor who’s got your back? I’d love to talk with you. Jeremy Grantham of GMO fame wrote in "Waiting for the Last Dance" on Monday: Another more measurable feature of a late-stage bull, from the South Sea bubble to the Tech bubble of 1999, has been an acceleration3 of the final leg, which in … [Read more...]
Why Buying Bonds Matters in Times Like These
In times like these, you need to be in touch with your money. Literally, overnight, we’re on the cusp of losing the Senate and much, much more. Making sure your financial plan is airtight is front and center like never before. I want you to get out a piece of paper (do it now) and draw a line down the middle. Write down what you own on the left side, and what you owe on the right. Your goal is to make sure that what you owe is not only less than what you own but that it gets down to ZERO. You’re not being helped by the Fed holding rates at zero. When you lose money simply by saving … [Read more...]
Be Prepared for Another Great Lockdown, Recession, or Reset
How fast life changes. America's favorite pastime used to be baseball. Now it's trading stocks and betting on sports—real or fantasy. When I walk down Main Street, there's not a whole lot going on. Everyone's trading from home. Real estate prices, an equation of supply or lack thereof, are through the roof. City dwellers have new hobbies (after trading stocks while "working" from home), skiing in Big Sky or sailing in Newport. What's not to like? Prices always go up, right? Remember the Great Recession when the subprime crisis hit? Do you remember the revelry on Main Street USA, when you … [Read more...]
When Dollars are Plentiful YOU Proceed with CAUTION
When dollars are created out of the air, they’re wasted. When dollars are too easy, there’s too much of them. And they’re misallocated. What could possibly go wrong? The virtue of making money year after year after year, and saving a little bit as you go, is that you don’t need to make monumental decisions about what to do with it. You create a plan. You save on a consistent basis and over time you look back and are pretty amazed at what you’ve amassed. (You can teach a grandchild how to do this here). The more government injects itself into the money equation, the more the natural law … [Read more...]
For You, I Want Generational Wealth as Big as Yellowstone
Do you remember how much you paid for your first home? Pretty amazing how things have turned out, don't you think? If you bought back in the 70s, you probably spent some multiple of your annual salary that wasn't outrageous. Yes, you probably carried a mortgage with an interest rate many multiples higher than today's, but did you ever think you'd be where you are today? Did you think interest rates would be this low? Probably not. You were too busy. You were your own survival guy. You most likely didn't buy a home to sell it to some sucker at a higher price. You bought it because you needed … [Read more...]
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