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Do you remember the 70s? “Like it was Yesterday,” You Tell Me

September 13, 2022 By E.J. Smith

By apollobots @ Shutterstock.com

“Like it was yesterday,” you said in my conversation with you.

Life Comes at You Fast. Slow It Down with My Friday Email. It’s Free.

We were talking about your portfolio and markets and transitioned to Roxbury, Massachusetts of all places, and the Mission Hill neighborhood. I was explaining how, on Tuesday following Labor Day Weekend, Becky and I helped our daughter move to her new apartment where it seems everyone at Northeastern University lives.

I said it’s outrageous what they’re getting for rent in these triple-deckers.

 

“Funny, you should mention that,” you said. “I lived around the corner when I was at Northeastern a long time ago,” you laughed.

I told him what the rental rates are (triple what he paid based on average wages then and now). Do you remember what you paid for your first apartment?

When thinking about money today it’s no surprise how wrong the so-called experts have been about inflation. “It’s transitory,” they said. “It’s because of Ukraine,” they rail. “It’s Putin’s fault.” And yet all they need to do is look at this chart, and the truth speaks for itself.

The truth of the matter is this: When a dollar ain’t worth a dime, you can’t afford to listen to the ruling class.

But on a global scale, the US dollar is the best house in a bad neighborhood. Go figure. That’s how bad it is out there in the big bad world.

Remember this: Your number one investment, what got you out of bed in the morning working all hours of the day, was a linear event. But your steady growth turned you into a compound machine in your line of expertise.

But your portfolio isn’t linear. Your portfolio is perhaps your best chance yet for geometric growth. It’s called compounding, where you put growth and time to work for you.

Action Line: Working day to day feels like a linear A to B progression. Investing, however, if you harness time and money, can be geometric—if you allow steady growth to be your friend. Yes, you can go from C to B in rough markets, but you can also go, with time, from C to Z. It’s just a matter of how patient you can be. And if you think 50 years is a long time, remember it literally feels like yesterday. Stick with me. Let’s go.

 

Originally posted on Your Survival Guy. 

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E.J. Smith
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris.

Please get in touch with E.J. at ejsmith@youngresearch.com

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