So you’ve created a Roth IRA because: “My accountant suggested I convert to a Roth IRA.” I get it. Sure it could make sense long-term if the growth of the portfolio is good, and if the law remains the same. That’s too many ifs for me. To feel more comfortable I’d prefer you didn’t have to deal with the issue all together as I pointed out here: Chris [Edwards] is Cato Institute’s Director of Tax Policy Studies and editor of DownsizingGovernment.org. If you’re looking for a way to help advance the principles of individual liberty, limited government, free markets and peace, you’ve found it in … [Read more...]

Dividend paying stocks may not always get the recognition they most certainly deserve (they are now!). But they some how have a knack of paying you to be invested. And that’s enough recognition for me. Don’t be afraid of investing in the forlorn, the unloved, or the out-of-favor. They tend to be the one’s that surprise you when they grow-up.  In the March 2016 issue of Richard C. Young’s Intelligence Report, Dick Young wrote: The Great John Neff John Neff, in his Vanguard Windsor fund days, was an outstanding proponent of investing in the forlorn, the unloved, the out-of-favor. John was … [Read more...]

Buy of course! As I wrote to you in Parts I, and II the key for you is to be creative and get started: Make the jump from a life of paying “The Man” to one where you pay yourself. A simple concept, yet hard to do. What did I do when I was your age? I made the monumental change in my own mindset—I became determined to pay myself. I bought a multi-family, rented the top two floors and lived on the first with two co-workers from Fidelity Investments. I want you to buy a multi-family type property.  It can be a two-family, four-family, you can live in the basement of a brownstone. It doesn’t … [Read more...]

In Part I told you how I got into real estate and I haven’t looked back since. How can you, a young Millennial, get started? Get creative! Figure out a way to come up with a down payment. I did. I borrowed from my dad. But what if that isn’t an option for you? Well, keep moving forward. Get creative. The best way I have found to be creative is to speak directly with the decision maker. It’s the best way to find out the real story. During my search for a multi-family property in Marlborough, MA I scoured the classified ads with a red pen. I came across an intriguing listing 40 minutes … [Read more...]

When you’re a working Millennial, your weekends are extra valuable: Everybody’s working for the weekend. When I was the age of today’s Millennial I worked at Fidelity Investments and lived in Watertown, MA. Rent was a big chunk of my paycheck but that’s what it cost to be so close to Boston. I wasn’t saving much money. Then there was a change. My department was moved out to Marlborough, MA—40 minutes west of Boston. For a while I did the reverse commute from Boston to Marlborough. But that got old fast. I wanted to live where I worked and I was also tired of paying someone else rent. I … [Read more...]

What is the key to achieving the financial success you and your family deserve? Well, for one it’s about keeping it simple—Simple is Sophisticated. Another key is to stop spinning your wheels. In portfolio management terms, spinning wheels or, how long a position is held over the course of a year is called the turnover rate. In other words, if your holdings at the beginning of the year were sold and replaced by new positions, then the turnover rate would be 100%. Here’s a wonderful example, one of my favorite, that Dick Young explains to his readers: Mr. 3.5% Turnover In 1992, Forbes profiled … [Read more...]

Lucky you! You don’t have to wait for my next installment on Simple is Sophisticated. Going back ten years now, in May 2006, my father-in-law Dick Young wrote to his treasured readers about a simple strategy: Simple is Sophisticated. Easy to understand, but hard to do. For long-time readers this is nothing new to you. The only difference for you is you have a much larger pile of cash from following the advice in Richard C. Young’s Intelligence Report. Why is a Simple is Sophisticated approach the key to happy investing and life? Easy, you let your money work for you. And how do you do that? … [Read more...]

My father-in law Dick Young wrote this timeless issue in May 2006 in his monthly strategy report: Richard C. Young’s Intelligence Report. Check back in a week or so for more on one of my favorite investing lessons. As you can see I have a somewhat vested interest in the results. Read more of Dick Young's investment strategy here. Simple Is Sophisticated Debbie and I recently made the pilgrimage to Vermont’s Authentic Designs (www.authentic-designs.com) to order much of the inside and outside lighting for a New England home we are renovating. At a most bucolic setting, skilled craftsmen … [Read more...]

+ … [Read more...]

Here Dan Mitchell of the Cato Institute discusses why some states deserve kudos for their tax policies, and some states deserve mockery. Just like with nations, there are many factors that determine whether a state is hindering or enabling economic growth. But I’m very drawn to one variable, which is whether there’s a state income tax. If the answer is no, then it’s quite likely that it will enjoy better-than-average economic performance (and if a state makes the mistake of having an income tax, then a flat tax will be considerably less destructive than a so-called progressive tax). Which … [Read more...]