Let’s run some numbers, shall we? If you’re making twenty-five grand working part-time, how much will you need to invest to match it with a three-percent draw rate? The answer is just over eight hundred thousand dollars. Puts some perspective on how much your time is worth doesn’t it? The more you want to draw, the more you'll need to save. My number one piece of advice for anyone considering retirement is simply this: don’t. You have incredible worth in times like these with interest rates nailed to the floor and assets inflated. The task of investing for retirement … [Read more...]
The “Dumbest Thing” He Ever Did Cost him $1.5 Million
At The Wall Street Journal, Michael Wursthorn and Geoffrey Rogow tell the story of Swedish investor, Kristjan Kullamägi, who found out the hard way that shorting stock can be a dangerous endeavor. They write: “Lately, shorting has been a little more stressful,” said Kristjan Kullamägi, a 32-year-old trader who lives in Stockholm. “Some of these tech stocks have doubled and tripled.” Mr. Kullamägi, who has been trading full time for himself for nearly a decade, was keeping an eye on smaller, more-volatile stocks for a potential opening to short. He found one in late July in shares … [Read more...]
Keep Working, if You Can
The best way to improve your retirement's financial picture is to keep on working if you can. Reshma Kapadla writes at Barron's: RESIST RETIRING PREMATURELY Given the health risks created by the pandemic and uncertain outlook for certain industries, early retirement may seem like an attractive option. But advisors recommend that those who are five to 10 years away from retirement should stay in the workforce, if possible. “The best way to improve retirement financial outcomes is to work longer,” says Jamie Hopkins, director of retirement research at Carson Group. “A year or two before … [Read more...]
Your Retirement Life: Albies on the Fly
From On the Water: "Photographer Sergio Diaz shot and edited this beautiful video about false albacore fishing at the end of Long Island. The waters of Montauk host some of the best albie fishing in the Northeast in September and October, and fishermen from around the world travel there to experience it." Originally posted on Your Survival Guy. … [Read more...]
UK Cities Completely Berserk! “Everyone just Wants to Escape”
You know that in America people are racing to escape the city. But the USA isn't alone. Residents of London and other UK cities are looking to escape as well. Many are heading to Wales, where property is relatively inexpensive. Carol Peett, managing director of West Wales Property Finders told the Wall Street Journal's Ruth Bloomfield that “It has gone completely berserk here. Everyone just wants to escape.” Sound familiar? Bloomfield writes: With 870 miles of coastline and more than 1,500 square miles of national parkland, Wales, a country smaller than New Jersey, punches far above … [Read more...]
Going Up to the Country: Real Estate Heads out of Town
You have decided to escape the city, and now you're looking for what Laura Forman at The Wall Street Journal calls "location, location, isolation." She writes: Real-estate searches are looking a lot different lately. For years, home values have been greatly influenced not only by finished square footage and acreage, but also by walk scores and community. The pandemic is turning those factors on their head—at least for now. Airbnb, for example, is now touting its ability to enable users to work from anywhere, no matter how remote, after years of inviting its guests to “live like a … [Read more...]
Blue State Politicians Focus more on Ideology than Their States’ Economic Success
Blue State governors have gone wild, and they have driven their states to the highest unemployment rates in the nation. Look at the damage governors of blue states have caused, with unemployment in many of them in the mid-to-high-teens: Massachusetts (17.4%) New Jersey (16.6%) New York (15.7%) Nevada (15%) California (14.9%) Michigan (14.8%) Illinois (14.6%) Hawaii (13.9%) Pennsylvania (13%) Delaware (12.5%) Draconian shutdown measures and a refusal to do anything about the riots and looting that are tearing their constituents' cities apart have driven many … [Read more...]
Warren Buffett and the Power of Time
You have read here about the power of compounding, and patience. Both are functions of time. Warren Buffett calls investing over a long time horizon the "Methuselah Technique." Jason Zweig reports in the Wall Street Journal: This Sunday, Warren Buffett turns 90. The chairman of Berkshire Hathaway Inc. BRK.B -0.18% is one of the most successful investors of all time, having amassed a net worth estimated at $82 billion. Yet he accrued nearly 90% of that sum after the age of 65. Investing well is important, but investing well for a long time matters even more. “I’ve long recommended,” … [Read more...]
Your Best Asset is What You Bring to the Table
Literally. You are the best asset you've got. Are you a farmer who can grow a crop of corn or tomatoes? Are you a skilled mechanic who could help neighbors repair their machines? The skills and production you bring to your community are what pay for your meals, home, and everything else. The money you use to make the transactions is just a means of transferring those skills to others. You've probably read about the current coin shortage in America. While that's inconvenient, businesses have been finding ways around it by using electronic payments or simply rounding to the nearest … [Read more...]
SEC Cracks the Floodgates to New Hedge Fund Investors
You may already be an "accredited investor," with more than $1 million in net assets (excluding your home) or $200,000 in annual income. If so, you've long had the ability to invest in hedge funds, where you get the privilege of paying the managers 20% of your profits and 2% of your assets. But now, the SEC is allowing many more Americans to play at the hedge fund casino. Paul Kiernan reports in The Wall Street Journal: The Securities and Exchange Commission deemed more investors capable of navigating the opaque world of leveraged buyouts, hedge funds and startups, a decision likely to … [Read more...]
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