I want to share this article in the NY Times the “Latest Rash of Scam Calls Come from ‘Social Security,’” written by Ann Carrns. In general, if you get an unsolicited phone call asking for detailed financial or personal information, be suspicious and don’t share any information. “The S.S.A. will not contact you out of the blue,” the F.T.C. said. Don’t automatically trust the phone number on your caller ID screen. Criminals may use “spoofing” technology to make the call appear to be from a government number. “We cannot trust the caller ID any longer,” said Ms. Daffan of the … [Read more...]
Yay, Yay Claude Monet, Part II
Did you make it to Sotheby’s or Christie’s for the auctions? No? Well, in case you haven’t noticed, it was a big week in the art world. Claude Monet’s “Haystacks” sold for $110 million—a record for his work and for any impressionist—and Jeff Koons’ sculpture “Rabbit” went for $91 million—a record for a living artist. In 1986 when “Rabbit” was created by Koons, Monet’s “Haystacks” was sold for $2.5 million or two percent of what it sold for this week. But what’s changed? Instead of reading about greed, ambition, class and politics in Bonfire of the Vanities we stream Billions. Your … [Read more...]
Yay, Yay Claude Monet
Yesterday Claude Monet’s famed 1890 painting, “Haystacks”, sold for $110 million—a record for the impressionist— “to an unidentified woman who had to raise her paddle aloft to be spotted from the second-to-last row of Sotheby’s in New York,” writes Kelly Crow in The WSJ. To Your Survival Guy’s trained eye (ha!), I like the yellow and pink, and not to be rude, but the whole thing’s a little blurry. Just saying. As I was walking the grounds of his beautiful home and gardens in Giverny, France, it’s easy to feel as if one could find the inspiration to paint something as exquisite. But $110 … [Read more...]
Your Retirement Life: Choosing Where to Retire: Part IV
Yesterday, Rhode Island Gov. Gina Raimondo extended legislation for continuing contracts for union employees, and transmitted legislation mandating overtime for firefighters. Who doesn’t like teachers and firefighters, right? But that’s not the point. Because of her actions, cities and towns in Rhode Island will have no leverage at the bargaining table since contract renewals are now guaranteed. Also guaranteed is overtime for firefighters, even though most towns already pay overtime voluntarily. Raimondo’s automatic contract extension hurts cities and towns because it’s the local … [Read more...]
There Will be a Winner in the U.S. China Trade War
It turns out during the recent U.S./China battle the trade to have made was to buy bonds such as Vanguard GNMA. Yesterday, when the Dow fell 600 points, or 2.38%, and the tech-stuffed NASDAQ cratered (3.41%), Vanguard GNMA was up. Not a lot. But it made money nonetheless. The sooner you install a counterbalanced strategy with your hard-earned money, the more comfortable you’ll feel in times like these. The key to enjoying the retirement you deserve is to understand that markets can become violent, and when they do, bonds can be your best defense. Originally posted on … [Read more...]
The New Hot Spot for Young People has Jobs, Affordable Housing and some Great Skiing
Greetings from Deer Valley, Utah. This picture of Becky and me was taken from the chairlift at Deer Valley. We were there in early March and I think we were smiling because it was the first time we saw the sun. It was a snowy trip to say the least, where it felt like you were skiing inside a snow globe. Most of our trip was spent skiing Park City and the Canyons. We stayed in the Silver Star area, with a chairlift and café by the same name that made it feel like your own resort within a gigantic resort. Getting to Park City is a piece of cake. We took a late afternoon flight out of … [Read more...]
Your Retirement Life: A Luxury African Safari
Clients of mine shared these pictures from their recent, once-in-a-lifetime trip. Originally posted on Your Survival Guy. … [Read more...]
Your Retirement Life: Choosing Where to Retire: Part III
Some states seem intent on pushing the wealthiest, most productive residents out with bad policies. Lately, Connecticut seems to be the most enthusiastic about encouraging its wealthiest citizens to leave, though Illinois, New York and California don't fall far behind. Now, in an effort to speed further ahead of the high-taxing competition, Connecticut is once again targeting its most productive residents. The Wall Street Journal reports: Connecticut is a gift that keeps on giving to low-tax states. Democratic Gov. Ned Lamont earlier this year pitched a suite of tax increases on everything … [Read more...]
The One Chart Everyone Will Wish They’ve Seen
Last year, when stocks lost money, bonds were up. It’s the magic of counterbalancing. As you can see in the chart below. In 14 of the 15 years that the S&P 500 has been down since 1950, intermediate term government bonds advanced. That’s a .933 batting average. And in the only exception year, in the 60s, the bonds were down a scant 0.74%. In this record stock market this is a chart you may want to share with your friends and family. Originally posted on Your Survival Guy. … [Read more...]
Your Retirement Life: Parents, do You have an Investment Plan?
If you’re a parent, don’t be upset with me for asking: Do you have an investment plan? Because I get it. You’re busy. Between dealing with homework, sports and summer, there’s not much time. But there needs to be. When you find yourself doing the math to remember how old you are, you might be at a point where some financial housekeeping is in order. Time slips away, fast. And it would be a terrible thing to waste when you can make some solid moves today to put your retirement on solid ground. For example, when you’re younger and still reading to your children before bedtime, you’re … [Read more...]
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