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...]
Your Survival Guy’s Investment Cave for the Winter
Much of your investment success comes from avoiding disasters like crypto exchange FTX. The Fear of Missing Out or FOMO is a huge pull, like gravity, on investors. Look, I’m Your Survival Guy, not Superman, but FOMO’s like kryptonite. It saps the power of self-control and “knowing better” right out of investors, and it comes when you least expect it. If you’ve been with me, this has been a good year. But it’s been downright brutal for the non-dividend paying stocks that mainly comprise the Nasdaq and the tech sector within the S&P 500. The ride up is always more fun than the crash. But … [Read more...]
Your Survival Guy’s Take on IRS Potentially Changing RMD Rules
As you may know, Your Survival Guy has a history of spec ops and RMDs at Fidelity Investments. And this time of year was always a scramble to meet the end-of-year deadline for distributions. Falling on the wrong side of December 31 meant getting to know the IRS through letters. Not much fun. You may also have read that your government is working overtime to change the distribution age next year from 72 to 73 (and down the road a bit to 75). Don’t stress. This is about moving the deck chairs on the Titanic. The IRS will use the life expectancy divisor to up the distribution amounts when … [Read more...]
If You’ve Been with Me, It’s Been a Good Year
If you’ve been with me, it’s been a good year, and the future looks just as good. As Your Survival Guy, I’m focused on you keeping what’s yours—what you’ve made during a lifetime of work and saving. If everyone could remember how hard it was to get to where they are and lock it in their brains there’d be a lot less heartbreak when it comes to money. Remember, I’m Your Survival Guy. I’m just fine living in a cave as the world passes by. Let it. I’m focused on return of assets first, then, and only then, the focus is on return on assets. And let’s get this out of the way. If you’re concerned … [Read more...]
“Let Me Tell You About Money Kid”
“How old are you?” he asked. “50,” I said. “Let me tell you about money, kid.” “I’m 74. Sold my business in ’99. Made out real well. But that’s not the point. The guys were arrogant, didn’t understand New Englanders, and they had to shut it down. They’re a big international player. They’re fine. But their way was no way to run my business, kid.” Based on the toughness coming through the phone and the Boston accent, he sounded like he’d be right at home on the docks telling his crew what the job was for the day. “What type of business did you own?” “The toughest one of ‘em all … [Read more...]
How Your Survival Guy Feels about CDs
Investors in deep blue states can take pleasure in knowing interest income from Treasuries is tax free on a state and local level—but that’s not the case for CDs. Also, Treasuries are backed by the full faith credit pledge of the federal government. Again, not so for CDs. Action Line: This is a wonderful time of year to get working on your Treasury bond ladder. Let’s go. … [Read more...]
Keep It Simple: Work with a Fiduciary Who Has Your Back
Last week, Vanguard announced it was pulling back from the woke agenda targeting companies for their lack of dogmatic ESG adherence. Now, HSBC has announced it's going in the opposite direction. The bank has announced that it will stop funding any new oil and gas field developments. Charles Kennedy reports for OilPrice.com: In an update on its energy policy, the bank said, “We will no longer provide new lending or capital markets finance for the specific purpose of projects pertaining to new oil and gas fields and related infrastructure when the primary use is in conjunction with new … [Read more...]
Sink Your Teeth into These Yields
How Your Survival Guy Feels About Digital Dollars
My client told me yesterday that years ago, he and his wife traveled from Alaska back to his childhood home to accept an award for excellence in dentistry. Home for him was LA—not that LA—Shreveport. The ceremony was in New Orleans. The plan was to borrow one of his sister’s cars in Shreveport and drive to New Orleans. Before they drove off, he asked his buddy if he needed anything. “Would you mind picking up some alligator meat?” he asked. “No problem.” Driving home from New Orleans, they took a left into the swamp, walked into the store, and said he was there to pick up alligator … [Read more...]
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