Coronavirus Infects Stock Market: Part LX You really need to follow the bouncing ball in this time of crisis. Looking at the way stocks are trading, you have to wonder: what crisis is the stock market living in? Seems to me like no one has a clue. You and I know there’s a crisis. Go downtown and look around. How many businesses are struggling or will never be the same? Who do we have to thank for this? China. The China virus traveled to the U.S. via Europe, and now Europe wants to keep us out—yet is opening flights from China. You really can’t make this stuff up. No one has a … [Read more...]
If You Had a Million Dollars
If you had a million dollars, would you let a robot do the investing for you? You probably wouldn’t. But that’s the direction companies are taking, including Vanguard. When you invest a single penny of your hard-earned money, you need to think about it as if it were a million dollars. That’s the mindset you want to have at all times when you invest. There is NO SUCH THING as a "small loss," or money that doesn’t matter because "it’s too small to worry about." Once you get into the mindset of growing your money, you become a serious investor and not a speculator. Leaving this work … [Read more...]
Blue State Governors Punish Working Class with Severe Lockdowns
Coronavirus Infects Stock Market: Part LIX Severe lockdowns in blue states are driving unemployment to Depression Era levels, and devastating the finances of working-class residents. Before their governors went wild with lockdowns, these same workers had been enjoying their best economy in decades. The Journal reports on the skyrocketing unemployment in blue states: The Labor Department on Friday reported jobless rates in May for the 50 states, and the news is the greater than usual variation. Some state economies are recovering much faster than others, and the worst performing tend to be … [Read more...]
Your Retirement Life: A Grizzly Yellowstone Trip
You can still have the retirement life you deserve, it just takes a little more time and patience. I think you'll like these pics from a client who writes: "Hi EJ- thought you might like to see a few shots from Grand Teton/Yellowstone. When we got home, we ran across an article about that specific bear. Google Grizzly Bear 399 and look for the recent article about her and her cubs." Here's the story about Grizzly Bear 399, from Mike Koshmrl at Jackson Hole News & Guide: Steve Franklin’s lifetime bucket list included both being in Grand Teton National Park on opening day and … [Read more...]
Are You Benefiting from the Miracle of Compounding in Your Life?
Once you venture down the path of self-reliance and survival, you quickly realize it can be an expensive endeavor. Stop. Take a deep breath. This is a marathon. Set your own pace. I try to eliminate the financial stress on you and your family every single day by helping you avoid the costly investing mistakes that cause distress for many. For example, in my recent series I wrote to you about long-term investment success that is easy to understand but hard to do. And I’m not talking about the guy you know who timed the market perfectly. The next time he tells you that, ask to look at his … [Read more...]
California Pensions are Dreamin’
You really can’t make this up. Rather than admitting that they've spent years making the wrong assumptions, and underfunding the pensions of California public workers, CalPERS pension fund managers seem hell-bent on driving the fund off a cliff to save their jobs. In the Wall Street Journal, Ben Meng, chief investment officer of Calpers, does his best to explain why the fund is taking on a load of leverage to fund its overpromised goals. He writes: Yet even before the pandemic, we knew that our goal of achieving a risk-adjusted return of 7% would require addressing the market’s triple … [Read more...]
Why Would China Have a Problem with This?
How are you doing? Surviving? In my conversations with you, you’re telling me you’re ok, or you email that you’re ready to get your life back. It is such a strange time with so much chatter in our heads. We need a break from ourselves. You’re telling me about your life and I’m hearing the differences depending on where you are—you’re ok in the heartland, but the coasts are another story. A valued reader writes from the tranquility of the Sierras explaining how different it feels from downtown San Fran. Another was just at Yellowstone and another, in New York, explains how this has been … [Read more...]
Close to One-Third of Investors Over 65 Moved to Cash
Coronavirus Infects Stock Market: Part LVIII How are you doing this morning? Hopefully, you’re not too shell shocked. If you are, then you’re not alone. A study by Fidelity Investments finds that close to one-third of investors over the age of 65 sold their stocks during the coronavirus meltdown reports The WSJ. Like a broken record, money managers tsk, tsk, tsk the sellers saying “hold your stocks for the long-term.” Well, that’s fine and good if you’re in your thirties, but a bit more difficult when you’re over 65. A prospective client wants to consolidate her assets with us mainly … [Read more...]
What Will Her Life Be Like Now?
It’s foggy this morning, but the light coming from my daughter’s bedroom is bright because she’s away on a trip, and her door is wide open. It’s heartbreaking walking down the stairs knowing this is what it will feel like when she leaves for college. Every step I feel the weight of: did I spend enough time with her, will she be ok on her own, is she happy, what will her life be like now? It’s heavy. That’s being a parent. Your kids grow up and leave you, then you have grandchildren, they visit, they leave, and it’s the same feeling all over again. And you say to yourself: Next time … [Read more...]
For You I Want Steady Income and Here’s Why
When you own an income-producing asset, you’re immediately in a position to harness the power of compound interest. Too often, investors get caught up in the ups and downs of the market rather than the flow of cash into their pockets. The basic premise behind selling at higher prices means you need to get rid of your asset, your golden goose, to make money. I don’t like that game for you. For you, I want steady income. Take care of the income, mix in some time, and the price will follow. I like this wonderful piece written at Vanguard that lays it all out. The more time you have, the … [Read more...]
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