You may have read last week about the efforts of West Virginia State Treasurer Riley Moore in battling the unfair targetting of his state's coal companies by ESG funds. Moore created a Restricted Financial Institutions list to stop rewarding firms that target West Virginia's industries by giving them the state's investment business. That's not Moore's only effort to clean up the unfair practices of the politicized financial industry. Moore has also spearheaded an effort against policies that would decrease financing for the coal, oil, and natural gas industries. Given the high prices of oil … [Read more...]
Record Breaking Slowdown in Housing Price Growth
A big drop in housing demand should come as no surprise with rising interest rates and a cooling economy. When money chases prices that’s speculation, not investing. Investing is about income and increases in that income over time. CNBC's Diana Olick reports on the housing market cooling off, writing: Rising mortgage rates and inflation in the wider economy caused housing demand to drop sharply in June, forcing home prices to cool down. Home prices are still higher than they were a year ago, but the gains slowed at the fastest pace on record in June, according to Black Knight, a mortgage … [Read more...]
The Key Ingredient to an $8 Million Estate Is This
You’re never too old to compound money. Remember Ronald Read? When he died, his estate was worth $8 million. He made a modest living pumping gas at a Gulf station in Brattleboro, VT. He gave life to those $1 dollar tips. A dollar saved is a dollar earned never sounded so sweet. The key to keeping your money alive and well—to survive and thrive—is to consider how much it can grow. Imagine showing a grandchild how to grow a plant in a Styrofoam cup like they learn in school. It doesn’t take too long to see that seed turn into something remarkable. How does it happen? With a little … [Read more...]
The Bond Market Is Alive and Well
With the Fed raising rates by 0.75% yesterday, all of a sudden, the bond game is cookin’. We needed this move. And some more down the road just like it would be exactly what the doctor ordered. I’d like to see a continued pace of rate increases like this until “savers” can get some return on their money. The “risk free” rate of return has been far too low for far too long. Will the Fed have the conviction to see it through? I feel like I’m watching Lucy hold the football for Charlie Brown when I get excited about future moves. We’ll see. Stay tuned. Action Line: Until then, the bond … [Read more...]
YOUR RETIREMENT LIFE: Investing in the 70s, a Remembrance
Did you invest in stocks in the 70s? Do you remember the 70s? Like they say about Woodstock, if you do, “you weren’t there, man!” Look at my chart below to see why it was so forgettable. Imagine retiring in the late 60s and spending your retirement years investing in stocks. Not much fun. But, if you went into retirement with a plan, there’s a good chance you could weather the storm by owning a mix of diversified assets. When I say plan, I mean preparing before retirement with answers to questions like: How much can I “afford” to spend? What kind of yield can I get on blue-chip … [Read more...]
LIFE IN REVERSE: Born with Savings, Your Entire Life in Front of You
Wouldn’t it be nice if you could live life in reverse? Imagine you’re born with a lifetime of savings and your entire life in front of you. Sounds kinda nice, doesn’t it? But I think after a couple of years—OK, maybe five or ten—you’d get bored. You wouldn’t have a reason to get out of bed. You wouldn’t have purpose. You’d simply be spending down your money. Reverse compounding is no way to live. Stick with me. Click here to sign up for my free monthly Survive & Thrive letter, and we'll weather this storm together. Now, compounding from a young age is a lifestyle. You have … [Read more...]
Will Insurers Make Good on Annuity/Life Insurance Promises?
Costs are going up for insurers, and profits are declining. The question is, will they be able to meet their commitments in this time of inflation? Leslie Scism reports on insurance companies' troubled businesses, writing in The Wall Street Journal: Big car, home and business insurer Travelers Cos. posted a 41% decline in second-quarter net income, as inflation has continued to drive up costs, including to repair and replace automobiles and pay for medical care of injured people. Allstate Corp., meanwhile, said inflation would worsen its coming second-quarter quarter results, in a … [Read more...]
BIDENFLATION: Stubbornly High Diesel Prices Hurting Truckers and Farmers
America's farmers and truckers are the backbone of the nation's food supply system, and without them, the country would starve. Two years of Biden's war on energy producers have pushed prices for their most important input—diesel fuel—to heights unseen in history. Breitbart's Simon Kent reports that if prices don't fall faster, truckers may decline jobs that lose them money, and the effects on farmers will hurt consumers as well. He writes: Unless prices ease, the ripple effects of high diesel fuel could worsen because the costs are deterring some truck companies from accepting jobs … [Read more...]
Record Revenues Show Tax Rates Are Not the Problem
You know politicians are always crying about not having enough money to do what they want to do. And by money, of course, they mean your money. But it's not revenues that are the problem for government spenders. Revenues are actually at all-time highs. In the first nine months of 2022, the government taxed its way to $3,835,390,000,000 in revenues. That's a record haul. CNS News reports: The federal government hauled in a record $3,835,390,000,000 in total taxes in the first nine months of fiscal 2022 (October through June), according to the Monthly Treasury Statement. That was up … [Read more...]
Make It a Grand Slam with Your Survival Guy in Newport, RI
You might want to take it from me, Your Survival Guy, and visit Newport this year or next. The city by the sea is buzzin’. I told you recently we have a long-time family friend staying with us before she heads off to Nantucket. I also told you that some clients from Colorado who are renting on the Cape, came to visit last week. And on Sunday, while picking up our food from Pasta Beach, I ran into clients in town for a birthday gala the night before who were sticking around for our real pleasant Monday morning meeting. It’s a great time to be in Newport. On Sunday, the French-born, … [Read more...]
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