If you’re a fan of the band Rush, then you know the beginning of the song “YYZ” hits you like a dog whistle. The same rings true for “La Villa Strangiato” on Exit Stage Left, perhaps the band’s best live recorded album and guitar intro by Alex Lifeson. I remember Lifeson explaining not too long ago that he can no longer play the beginning of “La Villa Strangiato” like he once could, and how hard it was for him to learn it, never mind create it. Repeating genius is near impossible. It’s why being the best at what you do can be painful. You die twice. But it doesn’t mean what you … [Read more...]
The Powerful Case for Term Limits
A good friend of mine recently sent me this video of Nick Tomboulides from the Heartland Institute making the case for term limits right to the people who need them-the Senate. Watch Tomboulides below. … [Read more...]
How Can You Save Money for Your Grandchild?
The short answer is, early. The earlier you can start saving for your grandchild, the greater the impact you'll have on their life. Take a trip with me. Let’s say you help a grandchild get into the savings game when they’re born by contributing $525 per year to an account you establish for them. (I favor UGMAs for this purpose). You diligently save each year for her first 21 years. Then when she turns 22, she continues along the same path, saving $525 on her own each year until she’s 64. Look at my table below to compare her success to someone who begins his investment savings at … [Read more...]
These Americans Are Never Going to Retire
A poll conducted by The Associated Press-NORC Center for Public Affairs Research found that 23% of Americans don't expect to stop working during their lives. Andrew Soergel writes in The Washington Times : “The average retirement age that we see in the data has gone up a little bit, but it hasn’t gone up that much,” says Anqi Chen, assistant director of savings research at the Center for Retirement Research at Boston College. “So people have to live in retirement much longer, and they may not have enough assets to support themselves in retirement.” When asked how financially comfortable … [Read more...]
America is the Saudi Arabia of Natural Gas, but not in the Northeast
As the title explains America is swimming in natural gas, but if you live in the northeast politics and lack of infrastructure starve the region of this precious source of energy. Stephanie Yang and Ryan Dezember report for The Wall Street Journal: Earlier this year, two utilities that service the New York City area stopped accepting new natural-gas customers in two boroughs and several suburbs. Citing jammed supply lines running into the city on the coldest winter days, they said they couldn’t guarantee they’d be able to deliver gas to additional furnaces. Never mind that the country’s most … [Read more...]
A Scorched Earth Investment Landscape: FIRE! (Part V)
“Never forget what I’m telling you here” -Dick Young When it comes to living off a portfolio for a lifetime, the word lifetime can mean different stretches of time for different investors. As you read in parts I, II, III and IV, I’ve been studying the FIRE movement—Financial Independence, Retire Early—to help teach the next generation how to think about money, and to help you think about your retirement. Like I have said, if this group is retiring in their 30s, and living off their retirement savings for the rest of their lives, then we should be able to pick up some intelligence. Which … [Read more...]
Will You Outlive Your Money? FIRE! (Part IV)
In parts, I, II, and III you learned about those who have embraced the FIRE lifestyle—Financial Independence, Retire Early—and the ways it can help you in your own life. One of the things I think you and I will learn from this movement is if it’s truly feasible to live off a portfolio for 60-plus years—a necessity when retiring in one’s early 30s. But this is not your typical set-it-and-forget-it retirement demographic. Self-reliance is a way of life for the FIRE movement. Yes, they are casting off the lines and heading out to the sea of financial independence with a portfolio that … [Read more...]
Tucker Interviews President Trump
“I wish that I could give you something… but I have nothing left” FIRE! (Part III)
As you read in my FIRE series parts I and II, the acronym stands for Financial Independence, Retire Early and is as much a mindset as it is a financial plan. Think about what you spend the most money on and you’ll quickly realize some of it can be reduced but a lot of it cannot when you’re in retirement. Chances are you’re out of debt. You’ve saved until it hurt and now you should be living the retirement you deserve. You’ve won the war. But there’s one thing I need to talk to you about. I talk to a lot of investors during any given week which provides me with a front row seat to … [Read more...]
“Dad, You’re Stressing Me Out” FIRE! (Part II)
Living a lifestyle where you spend 50% less than your “normal” spending doesn’t sound like much fun. But that’s exactly what many members of the FIRE movement are doing. FIRE standing for Financial Independence, Retire Early. I’ve been studying this movement big-time, because there’s a lot for you and me to learn by understanding what others are doing. This is not some hypothetical model of how you’ll live your life off your investments. This is real. It’s a lifestyle. When I brought up living a FIRE-centered life to my daughter she said, “Dad please stop with the FIRE, you’re stressing me … [Read more...]
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