You never know when you’re going to pick up a nugget of wisdom. Wisdom that can last a lifetime. In a world loaded with information, wisdom is in short supply. Don’t confuse the two. Your Survival Guy was speaking with a client this week. He’s in his early sixties, and he’s ready to retire in a year or two. We talked about his portfolio, his savings, his 401(k) that he’ll roll over to Fidelity, his asset allocation, and how we’ll transition it when he needs to begin drawing from it. “You know how I feel about asset allocation and the efficient frontier,” I said. “I know you’ve been … [Read more...]
In Our Minds, We’re Always about 30 or So
Five years is a long time when thinking about where we’ve been since 2018. But over a lifetime, time flies. Because in our minds, we’re always about 30 or so, even when our bodies beg to differ. With all our living, we don’t know what next year will bring. Yes, I know; there are plenty of predictions out there. Here’s a reminder of how those making them are “often wrong, but never in doubt.” Roll the footage (WSJ article Nov. 2018): U.S. public pension funds are taking on more real estate, and at times some of the riskiest types of property investments, as they try to close their funding … [Read more...]
Retirement Income: We All Want It, We All…
Retirement income. We all want it. We all need it. How do we get it? Well, dear reader, you’ve come to the right place. Let’s start with bonds. My feeling about them is once you get to age 50 or so, if you don’t already have them, then you need to get some. Your Survival Guy rounded that corner not too long ago, and I have had bonds for years. But I’m probably one of the more conservative investors you’ll come across. I don’t “play” interest rates. I don’t try to predict where they’ll be. I look at what the markets are paying today, and I decide if I like the value proposition. A big part … [Read more...]
“Survival Guy Prepare Yourself and Your Clients Accordingly”
Ahhh, Mr. Market. He goes up, he goes down, but in the long run, so they say, he always goes up. Maybe. But not necessarily on your schedule. The long run might not be in time for your short-term needs. Mr. Market might not show up on your schedule. Stocks can stay down for a long time. Which brings me to your retirement life. When it comes to you, I don’t want you hoping you’ll get your portfolio to a certain level. Hoping something will happen to you is no way to live. Instead, I want you to control everything you can control. Your savings, your earnings, your money. In other … [Read more...]
Mr. Protect and Preserve: For Where We’re Going
In my conversations with you, we go through the lay of the land—where we’ve been, where we are, and where we’re going. Two out of three are facts—history. But that last one, where we’re going, isn’t. Hey, Your Survival Guy will take two out of three any day. I know what it felt like on the front lines, working through the past, talking about the present, and planning for the future. As one of you commented yesterday, you’re “Mr. Protect and Preserve,” a badge I wear proudly. Action Line: Don’t let short-term thinking get in the way of your long-term plans. No one knows how you deal with … [Read more...]
Getting Older Isn’t for the Faint of Heart
“All I can tell you it that it’s hard,” my father-in-law Dick Young told me. “Getting older means pretty much everything is harder. It’s not easy. And you need a team to help you. I’ve been advising investors since 1971 and can tell you, you don’t know what it feels like until you’re actually living it.” When I think about our conversations, it reminds me of the conversations I have with investors. They know how hard it is, too. They know what it feels like to live off their portfolio. We talk about ways to generate income. And yet, there’s always concern about the future. That’s natural. … [Read more...]
Yes! Money Can Bring You Happiness
Originally posted on April 30, 2020. It was a typical Sunday morning. The kids were up early, shows had been watched, books read to them, and pancakes eaten. Standing up with a cup of coffee, looking out at the backyard full of leaves and sticks, I thought to myself: “I could easily let the morning go and forget about the yard. Or, I could get the job done in a couple hours and perhaps catch some of the Pats game.” As I was tying my boots, I felt them staring down at me. One of them asked, “What are you doing?” “I’m going to rake the yard. It won’t take long.” I said. “Can we help?” they … [Read more...]
When Should You Take Social Security?
When should you take Social Security? It depends. That’s a question Your Survival Guy is asked frequently. The answer is personal. It’s been my experience that talking with a local Social Security Administration representative is helpful (you can find your local SSA office here). You are the best advocate for what your income needs are and will be. But, yes, it’s nice to defer it for as long as possible. Action Line: When you need help with your private retirement savings, let’s talk. Originally posted on Your Survival Guy. … [Read more...]
Happy Monday: Thinking about Retirement? It Ain’t Cheap
Happy Monday. Thinking about retirement? Think again. Seriously. Because it’s one of the most important financial decisions you’ll ever make. Sure, Your Survival Guy is probably younger than most of you and has decades of work ahead of him. But I know this from speaking with you: You don’t know what retirement feels like until you’re in it. Period. In my conversations with you and from my observations, some retirees jump headfirst into their golden years and love it. Others figure out what works for them and adjust, while others choose to go back to work. But here’s the deal. It’s downright … [Read more...]
“Oh, That Wasn’t So Bad”
Your Survival Guy continues to favor a steady, balanced approach in times like these. You’re seeing yields on bonds you can sink your teeth into, and I like dividend-paying stocks. I want you to be paid to be invested in this market. Prices on the S&P 500 come and go. Look at last year, for example. And this market is shallow or an alligator market. When investors focus on prices, they live and die by the big ups and downs. It’s the investors who aren’t paying much attention when they realize after ten or fifteen years, “Oh, that wasn’t so bad.” But some retirement investors don’t … [Read more...]
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