Earlier this month, the ocean liner Queen Mary 2 was anchored in Newport. “I know you,” I thought to myself, remembering the Atlantic crossing we made on her in May of this year. It was a seven-day crossing. Returning from France by air last weekend in a matter of hours felt like a time warp.
In the book The Only Way to Cross: The Golden Era of the great Atlantic express liners—from the Mauretania to the France and the Queen Elizabeth 2 by John Maxtone-Graham, we learn about what once was the only way to cross, and the ships that made it happen. Even if it’s not the only way to cross today, it was a trip worth taking.
As you plan your retirement life and take the trips you want to take, I want you to focus on how you generate the income to make it happen. Too often, investors think about how much income they need and then buy investments to fit the bill. They end up with a portfolio littered with garbage. That’s no way to invest in bonds.
Your number one goal when it comes to income generation, Your Survival Guy way, is with a safe and predictable stream of income. As you know, we’ve been through some nasty markets so far this century, and like clockwork, lesser quality assets (if I can even call them assets) end up on the rocks, ruining investment lives for generations.
When it comes to quality, you need to start with Dick Young’s North Star, the T-Bill. This is your Queen Mary 2—built to handle the rough and tumble seas. And the food in the Queen’s Grill is incredible so consider your own crossing.
In my expert opinion, you can live out your dreams with less yield and more safety. Too often, investors sacrifice principal for a few basis points and sink the ship. Unfortunately, they learn this lesson, like a food allergy, after the fact.
Landing in South Hampton, England, we spend four days in London at the Dorchester. If you’re there, check out the Chiltern Firehouse and MJ: The Musical. You won’t be disappointed.
Action Line: I believe you’ll find you can live quite comfortably off your portfolio with a manageable risk level. When you’re hoping for higher income that isn’t safe, it’s time to look at the man in the mirror. Email me at ejsmith@yoursurvivalguy.com
Originally posted on Your Survival Guy.
