“Is your retirement life a mess? Then call 1-800-get-HELP.” No, this is not a commercial promising to change your life. This is about my conversations with you. Let’s take last weekend for example. Your Survival Guy was tired of pulling into my garage and looking at the mess it had become and did something about it. That was a Saturday. It was raining. What else was I going to do? One fellow northeasterner commenting to me on all the rain said animals are lining up two by two in his garage. So, I got to work. And when it was done, I felt good. And when I pull into the garage it’s … [Read more...]
YOUR RETIREMENT: Time Isn’t Necessarily on Your Side
In my conversations with you, you tell me how you made your money. You saved ‘til it hurt, had the kitchen table talks, put water in your Cheerios, in some cases lost it all, then made it back and then some. Each story is different, yet as the saying goes, happy families are the same. You all, at some point, got serious about being providers and didn’t rely on someone else because guess what? They never show up. Believe me when I tell you this: There’s a lot of money out there. I’m not talking about the billionaires; I’m talking about the Main Street millionaires. Family first Americans who … [Read more...]
“Hmmm, Stocks Have Been Doing Well,” They Think
You’ve seen the debt load we’re gifting the grandkids. As I noted yesterday, one way to tackle it is by making cuts and buckling down, chipping away at it like one manages the family budget. The government? Since it can create its own money out of thin air, it chooses to inflate the debt away. With all that fiscal Covid money running dry, it looks like the Fed wants to come to the rescue with more easy money. As an appointed official, not elected by you and me, Fed Chair Powell must be hearing the footsteps from Main Street voters looking for some monetary discipline. Just when we see … [Read more...]
“And I’ve Never Forgotten,” His Nephew Told Me
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...]
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