Once you venture down the path of self-reliance and survival, you quickly realize it can be an expensive endeavor. Stop. Take a deep breath. This is a marathon. Set your own pace. I try to eliminate the financial stress on you and your family every single day by helping you avoid the costly investing mistakes that cause distress for many. For example, in my recent series I wrote to you about long-term investment success that is easy to understand but hard to do. And I’m not talking about the guy you know who timed the market perfectly. The next time he tells you that ask to look at his … [Read more...]
Dead or Alive? The Future of Long-Term Investing: Part IV
The answer to the question of whether long-term investing is dead or alive comes down to my favorite three letters in the alphabet: Y.O.U. When I speak with investors, most of our conversation is about what’s going on at that moment in their lives: Driving to their second home, getting ready for an exercise class, recovering from hip, knee or shoulder surgery, running to a meeting, running (walking) to rehab, or winding down from a busy work trip or a European tour. With so much attention today given to robo-advisors, financial planning and one stop investing, it’s hard to know which way … [Read more...]
Dead or Alive? The Future of Long-Term Investing: Part III
“If the phone doesn’t ring it’s me” -- Jimmy Buffett It’s funny how time heals temporary temptations and laps of reason. I wrote the piece below on October 16, 2014. Then the Dow was down from a recent peak and investors were scared. But those who followed their long-term investment plan and didn't panic, made it through. Yesterday the Dow closed at 26,157.16. Investors who panicked and sold missed all that. Tomorrow markets could drop again, but if you prepare yourself with a diversified, income focused portfolio and the determination to stick to an investment plan that avoids risk whenever … [Read more...]
Dead or Alive? The Future of Long-Term Investing: Part II
Ask anyone if they’re a long-term investor and nine out of ten will tell you they are most definitely long-term investors. That is, unless something crazy happens to the market. It’s like the profile pieces you read about someone’s workout and eating regimen. Every minute of the day is carefully planned, and it seems every person profiled sticks to salads topped with salmon and the occasional piece of dark chocolate. In the real-world, life gets in the way, and it gets messy. OK, maybe it’s doable if you don’t have kids, or a job, or grandchildren, or any other fabric of life that makes it … [Read more...]
Dead or Alive? The Future of Long-Term Investing
Is long-term investing dead? You would think so reading even my favored Wall Street Journal as it beats the drum for the future robo-advisors—a model that makes decisions based on an algorithm and human input (a phone rep fresh out of college) to determine your financial future. Sounds good on paper. We’ll see how well they do when markets crater and the phone lines light up like a Christmas tree. It’s happened twice already this century, and that’s when it matters most. Everyone knows that long-term investment success is hard. Maybe not everyone. I’m being too generous. But listen, if … [Read more...]
Your Retirement Life: Park City, Utah
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...]
Illinois Politicians Trying to Kill Local Employee Freedom Initiatives
Big Labor is strong in Illinois, and it has marshaled its forces against attempts by local politicians to free their constituencies from the state's burdensome forced unionization laws. Illinois State House politicians are working hard to get a law to the governor banning any individual towns or cities from exercising freedom against Big Labor. Greg Bishop reports for the Illinois News Network: No local government in Illinois would be able to restrict collective bargaining issues for public or private unions under a measure that is one step closer to being sent to the governor’s … [Read more...]
“Good Stuff Cheap!”
I like this story about Ollie's, a fast growing retail outlet that sells nothing online and focuses on selling “Brands at drastically reduced prices." It reminds me of Building 19 which used to sell “Good Stuff Cheap!” The trick was not to go in looking for something, but to just go in and come across something at a too good to resist price. My mom loved Building 19 and the stock market and even to this day is always careful with her money. At Forbes, Abram Brown reports on the success of Ollie's: The sheriff’s deputy arrives early, assuming his position before 9 a.m. He stands silently, in … [Read more...]
The Best States for Retiree Taxation
If you have a few minutes I believe your time will be well spent reviewing this piece I posted back on February 16, 2018. During your working career you can make adjustments on the fly. Paychecks are still coming in, and you can cut some spending to shore up holes in your savings plan. But once you retire, there's no more income to offset any unexpected spending you may have done. That's why you must be acutely aware of how you position yourself and your money in retirement. After you have invested your money to best avoid risk, the biggest threat to your income is taxation. Retirees … [Read more...]
Think Long and Hard about where to Raise Your Family
Your ability to act and stand-up against higher education (as in higher cost), federal, state and local taxes and the politicians that enact them has never been more necessary or crucial to your family’s long-term survival and prosperity. It’s preposterous to believe those living in ivory towers and the politicians controlling your tax dollars know better than you. They don’t. You are the best caretaker for your family and for your money. That’s why it concerns me when blue states, in particular, come after your hard-earned money due to their misappropriating taxpayer dollars for … [Read more...]
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