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...]
You Know in Your Gut Why My September RAGE Gauge™ Concludes This
Pre-China virus, anyone who wanted a job could get one. But for some, no matter how loud an economy roars, they’re too lazy to work. For them, any economy is a bad economy because living off your taxed wages is a whole lot easier. Let’s not forget, it’s the Real Americans who create jobs, have a job, or work for the benefit of their family for a lifetime. For them life is hard but it’s worth working for and worth following the virtue of perhaps doing what they must do to make ends meet—not look to someone else to do it for them. Meet the Real Americans, not the lazy ones. Stupid kids are … [Read more...]
Looking to ReFi? You May not Get Those Record-Low Rates Everyone’s Talking About
You are your most valuable asset. I explained to you the mental checklist you should examine when setting goals. First on that list was being out of debt. In America that usually means owning your home, outright. I suggested you get rid of your mortgage, or at least do a refi to a 10 or 15-year mortgage that will make you a real homeowner sooner rather than later. The financial media have been shouting from the rooftops about the record low mortgage rates available today. But you need to be careful if you're pursuing a refinance mortgage. Ben Eisen explains at The Wall Street Journal … [Read more...]
Why You Are Your Most Valuable Asset
You have the unique ability to understand your financial situation if you can take emotion out of the equation. But unless you have an investment counselor you speak with regularly, that's a hard ask. We all get a little uptight when it comes to our money. I'm here to help you breathe a little deeper and to gain some much-needed focus. Here are my top five boxes for you to check as a mental exercise for goal setting. You'll know which ones apply to you. ☐ You're out of debt. You own your home. You and I know homeownership is an expensive endeavor. The cash goes out the front door, … [Read more...]
California’s Power Failure is a Preview of the Green New Deal
If you want to get a glimpse of what the Green New Deal will do to America, then take a look at California. The Wall Street Journal's editorial board writes: Electricity blackouts are awful at any time, but especially during an extreme heat wave and for reasons that are man-made. That’s what millions in California have been enduring in recent days, and their plight is a warning to the rest of America about the risks of Green New Deal policies. The California Independent System Operator (Caiso), which manages the state’s power grid, declared a high-level emergency Friday and Saturday … [Read more...]
EJ-When I Read Your Piece: “You Want Maine Lobster”
EJ- When I read your piece “You Want Maine Lobster” it brought back memories of my days of frequent trips to the Boston area. My biggest customer at the time (1971-1978 or so) was Air Force Systems Command at Hanscom AFB. I was there probably two times a month for several years, sometimes staying over a weekend if we were negotiating a contract or other lengthy meetings. We almost always had one dinner at a roadside restaurant along a dark rural stretch of some road, possibly 2A. I don't remember the name of the place, but I always got a chicken lobster, fries and a beer or two. I think … [Read more...]
“E.J./Survival Guy what a RELIEF to be out of the City”
You’re telling me you want peace of mind and security for your family and that you’re sick and tired of the unrest in your city. You’re also telling me you beat inertia and packed your bags. Don’t despair over all the boxes. From a client: “E.J./Survival Guy,” We finally completed our move this last week and our new address is: (not in the city). We are still waiting for our land line phone to be hooked up so you can reach us on the cell. We want to send the proceeds of our sale to our Fidelity account for you to manage. What a RELIEF to be out of the city. Talk to you soon.” Your … [Read more...]
Investing in the Fog
You’re telling me about the fortunes to be made in bitcoin and blockchain and I’m telling you the bloom is off the rose. If you’re reading about it, chances are the fortunes have been made or they will be when the buyer pockets your money. Remember, as Andy Kessler writes, investing can be like navigating in the fog. If you can see the bridge, you’re too late. … [Read more...]
Fidelity: How Emergency Documents Help Protect You
You can get your house in order with this helpful piece from Fidelity Investments: As the U.S. continues struggling with how to stop the spread of COVID-19, it’s critical to consider whether you have the right emergency documents. No matter if you live in a coronavirus hotspot or don’t know anyone with COVID-19, there’s never been a better time to understand how different legal documents can protect you. Here are five types of emergency documents that will help you and your family make essential healthcare decisions and manage your finances during an unexpected illness or accident. 1. … [Read more...]
Yes, You’ve Met Ronald Read in Richard C. Young’s Intelligence Report
You may be familiar with Ronald Read’s story. It’s a story worth telling over and over and over again to anyone you know. My father in law Dick Young wrote in May 2015: Hard to even comprehend, but this great story, courtesy the WSJ‘s Anna Prior, recounts how Ronald Read accumulated an estate valued at almost $8 million. Mr. Read, who passed away at the age of 92, made a modest living pumping gas for many years at a Gulf gas station in Brattleboro, Vermont. A Five-Inch Stack of Stock Certificates How did Ronald Read manage to become a multi-millionaire? Mr. Read invested in dividend-paying … [Read more...]
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