For the person who can handle the slow and steady road to wealth, the importance of a balanced portfolio cannot be overstated. In 2011, I coined the phrase “Sleep Well-esley at Night” to capture the safety first, survivalist manner of the balanced Vanguard Wellesley fund. It’s not an exciting fund. After all, close to two-thirds of the Vanguard Wellesley fund is in bonds. The rest is in stocks. The fund's performance over time is a testament to the power of a balanced portfolio. You can see in the chart above that during Vanguard Wellesley's long performance history, the fund has … [Read more...]
Let’s Go: It’s Never Too Late to Be a Beginner
Your Survival Guy just finished reading the first draft of a client’s novel written over the last several months. It’s remarkable what she got done in less than a year. As an accomplished writer, she doesn’t need the money. She has plenty of that. But when her daughter suggested she get back into writing, she decided to put pen to paper, and the fun (hard work) began to jump off the pages. How rewarding. It’s a reminder that it’s never too late to start (or restart) something you’re good at or interested in. You have skills you honed during your career, making you the success you are today. … [Read more...]
Don’t Worry, I Won’t Tell Them Our Secret
Being a successful investor is hard. Why? Because if it were easy, everyone would be doing it. And clearly, they’re not. I don’t need to tell you. You already know this. You hear it from friends and family who ask, “Why are you so cool?” when markets are crazy. Don’t worry, I won’t tell them our secret. You understand from here, here, and here that “doing something” rather than just standing there is easier said than done. When the world is crazy, that’s when it’s time to hunker down in your cave for the winter. Like a broken record, investors learn the hard way. They did in the tech bust, … [Read more...]
Happy New Year! Are You Getting the Advice You Deserve?
Did you make last year a good year? If you subscribed to my monthly Survive & Thrive letter, we got to know each other better and gained some perspective. This year will be no different. As my father-in-law, Dick Young, would write in his monthly newsletter Richard C. Young’s Intelligence Report, “make it a good month” is a philosophy. Because this is an emotional time of year, I want you to keep your head about you. As I’ve written to you before, stock prices are qualitative. They’re opinions. Dividends are not. They are quantitative. They’re cold, hard cash. You can see them being … [Read more...]
Cato’s Chris Edwards on Economists’ Predictions
Your Survival Guy’s had the pleasure of speaking with Chris Edwards of the Cato Institute at various benefactor gatherings. This is a good read from Chris per usual. Contrary to the confident‐sounding claims of experts in the media, economists cannot accurately predict the macroeconomy. Economists have an awful record at forecasting inflation, interest rates, gross domestic product, and other macro variables. Below I excerpt from a Wall Street Journal column summarizing the failed record of forecasting 2022’s inflation, interest rates, and stock market. This is important for public policy … [Read more...]
UPDATE: New Rules for Required Minimum Distributions
As reported in the WSJ: New legislation raises the age taxpayers generally have to start taking required minimum distributions, known as RMDs, from their retirement accounts from 72 to 73 years old, beginning in 2023. That means if you turned 72 in 2022, you have until April 1, 2023, to take your first RMD, the one for 2022, and you’ll have to take another for 2023 by Dec. 31, 2023. If you turn 72 in 2023, your first RMD will be for 2024, the year you turn 73, due on April 1, 2025. Unfortunately, the legislation doesn’t do anything to address the confusion surrounding the new 10-year payout … [Read more...]
Invest with Your Survival Guy and Don’t Miss the Boat in the New Year
Your Survival Guy wants to work with you. If you’re not already a customer and have half a million in savings and investments, then you’re good to go. Half a million sounds like a lot, and it is, especially when it comes to trusting someone you’ve never met to handle it for you. But that’s not us. We know each other, or at least you know me from YourSurvivalGuy.com and my monthly letter to you, Survive and Thrive. (If you’re not already a subscriber, sign up here to get to know me better.) We all have some lazy cash hanging around doing nothing, just taking up space. Look, when banks are … [Read more...]
Your Survival Guy’s 4 Ways to YOUR Wealth
Originally posted September 15, 2022. Your Survival Guy’s four ways to your wealth are: Let your money hibernate Work for as long as you can You are most valuable Get your lazy cash off the couch Look, I want you to be a compounding machine. I’ve spent most of my life compounding money beginning with a passport savings account my dad helped my sister, and I set up at the local bank when we were kids. Back then, interest rates were something you could sink your teeth into, and if you kept the money invested long enough, you saw interest on interest work its magic. I … [Read more...]
Your Survival Guy’s Number One Recommendation in Times Like These
Originally posted October 27, 2022. OK, what’s Your Survival Guy’s number one recommendation in times like these--when inflation is running hot and interest rates are going up? Well, it’s this: Don’t believe the hype. Inflation isn’t anything new, and interest rates need to be higher. But don’t bank on recommendations to play the market. That these two I’s are going higher is baked into the cake. That doesn’t mean they’ll be higher a year from now. You know Your Survival Guy doesn’t like playing the prediction game, especially when it’s hard enough to understand what’s really going on … [Read more...]
Do You Have $500,000 in Savings? Avoid This Nightmare
Originally posted August 2, 2022. Do you have $500,000 in savings? Is it working for you, or is it stuck in the summer doldrums taking up space in your house? Don't let another day go by without seriously considering a conversation with Your Survival Guy about putting your lazy cash to work. Look, there's a reason I'm writing to you, and that's to help you survive and thrive in all aspects of your life. But it's easy to let the money stuff sit around and do nothing. You can only read so much. At some point, you gotta do something. Inertia is the investor's worst nightmare. Take, for … [Read more...]
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