UPDATE 7.21.23: Treasury yields are still at levels higher than they've been in years. But with inflation rates declining, who knows what the Federal Reserve will do next? Sink your teeth into these yields. Originally posted February 7, 2023. Look at these yields and see how far we’ve come over the past ten years, let alone twelve months. While banks pay you peanuts on your checking and savings, you can sink your teeth into treasuries (and investment-grade corporates). Remember, earning 4-5% on your lazy cash turns you into a compounding machine rather than an ATM for your bank’s lending … [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. … [Read more...]
You’re Ready to “Make It A Good Month”
UPDATE 7.20.23: Your Survival Guy still speaks to readers of Richard C. Young's Intelligence Report who think, for some reason, we can't work together. If you feel that way, read through the following piece. You may be surprised. Originally posted April 20, 2023. You miss Richard C. Young’s Intelligence Report, especially the Monster Master List and the monthly introductions you couldn’t wait to read. I know this because you tell me. Here’s the intro from Dick’s last letter: My Last Issue Last Call! After nearly four decades of meeting monthly publishing deadlines, it’s time for me … [Read more...]
July in Newport Is for Rosé
There’s something quite inviting overlooking the water with a cool glass of rosé on a warm July night in Newport. Cheers! In The Wall Street Journal, Lettie Teague discusses the declining sales of rosé but the sustained popularity of certain bottles. She writes: ARE WE in the middle of rosé malaise? According to the retailers I talked with, the answer is yes…with an asterisk. Thanks to the rise of competing drinks (hard seltzer, canned cocktails), continuing Covid fallout and a boom in production all over the world that helped fuel a rosé glut, rosé sales are definitely less robust than … [Read more...]
Should You Convert to a Roth IRA?
I want you to read “How to Leave Grandkids Your Retirement Savings—and Not a Huge Tax Bill” by Ashlea Ebeling from The Wall Street Journal below. Roth IRA conversions are a most personal decision. She writes: It is becoming harder for older Americans to leave retirement savings to their grandchildren without sticking them with a big tax bill. Most heirs other than spouses must draw down inherited retirement accounts within 10 years, under rules that took effect in 2020. They used to have decades. The timing change has grandparents ripping up their estate plans and drawing up new trusts … [Read more...]
Some Lessons You Just Can’t Get from a Textbook
UPDATE 7.18.23: Graduates in the class of 2023 are now entering the workforce, and they are worried about the economy, according to Handshake, a company that connects students with job opportunities. Handshake reports that "Half of the class of 2023 say that the current economic news is affecting how they feel about their future careers." Students from the class of 2023 are applying for more jobs, earlier, and in more industries than past years' classes. One survey respondent told Handshake, "My job search has been affected by rising costs of living in that I started the search earlier than I … [Read more...]
Expect Your Advisor to Fight Tooth and Nail for You
When Your Survival Guy sees major financial institutions asking how they’re doing (in the form of a questionnaire), it makes me think their complaint box overfloweth. Service is key in times like these. It’s my belief investors want their money fought for tooth and nail, not fighting political ESG and DEI wars. Investing Mistakes to Avoid: #7 DEI DOA Your Survival Guy puts in a solid effort to recycle his trash weekly. Rolling out the blue bin to the curb makes me feel good and a bit anxious, wondering if they can track me down for misallocated debris. But, when it comes to my money, I don’t … [Read more...]
“I Need Preservation of Principal and Growth”
UPDATE 7.14.23: The percentage of Americans who are very or somewhat confident that their savings are enough to live comfortably in retirement declined in 2022 at the fastest rate since 2009. That's according to a survey by the Employee Benefit Research Institute (EBRI). The top reason for feeling uncomfortable with retirement savings was the threat of inflation eating away at purchasing power. Inflation has slowed somewhat but is still higher than the Federal Reserve's stated goals. The second most popular reason respondents gave for their feelings of discomfort about retirement was that they … [Read more...]
Service and History Count More than Ever
In an industry where service and history count more than ever, allow me to point you to this timeless piece by my father-in-law Richard C. Young. I started in the institutional research and trading investment business at Model Roland & Co. on Federal St. in Boston in August 1971. Just up the street from Model were Fidelity Investments, and Wellington Management, both of whom I called on from my very first hours on the job. Over five decades ago, Ned Johnson, aka “Mister Johnson,” ran the show at Fidelity. At Wellington, Jack Bogle, “Mr. Mutual Fund,” had not yet left Wellington to … [Read more...]
Is Your Team Playing for You?
If you're watching season two of The Bear on Hulu, you know the references to legendary Duke basketball coach Mike Krzyzewski. "Coach K" coached Duke from 1980 to 2022, won five national championships, and went to 13 Final Fours, the most by any coach. I like his discussion about playing as one team. Action Line: You need a team with a fiduciary duty. When you're ready to build that team, let's talk. … [Read more...]
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