Originally posted September 23, 2016. You're about to read the second installment of my brand new series, Your Retirement Life. We are in this together, trying to live a more prosperous, fulfilling life. It ain’t easy. But we can learn from one another. I’d like to hear your story. I hope you like this one. When I was a kid we used to go camping. Not in a fancy RV but, like the good ‘ole days, in a tent. My favorite place to go with my family and friends was Maple Park. It had a rope swing into the huge lake, a general store for locals to get their provisions, and a hayride at night … [Read more...]

“E.J., Here is a little taste of Mississippi life. Enjoy!” That was the note from a client written on the inside cover of the funny as well as tender memoir, The World’s Largest Man, by Harrison Scott Key. Turns out, some parts of growing up in Mississippi aren’t that much different from any town USA. In one excerpt Key writes about how his father would read the telephone bill like some Old Testament scholar with a gift for high blood pressure. “Who called 734-908-4560?” he would say. “Who is that?” “Who knows?” Mom would say. “Somebody knows! And I aim to find out!” “Why does … [Read more...]

One of my favorite drummers is the Rolling Stones' Charlie Watts, known for keeping it simple, keeping the beat, and playing to the song. He doesn’t look for something that’s not there. There’s a story about how Watts could play a song in the studio then have the volume turned off, with everyone leaving the room, continue  playing in silence, and when they came back in and turned the music back on he was still on beat. Think about that for a moment. Let it sink in as you consider what’s going on today. There’s a lot of noise out there. Imagine turning it off. Would you stop what you’re … [Read more...]

“I was married for thirty years, with three children and a house to manage and doing lots of charity work. Then came the divorce…” a reader wrote to me. I called her up this week and we talked. Our conversation wasn’t about her divorce. In fact it only came up once. We talked more about the success of her family and the financial independence they have achieved. But as she tells it, when she talks with them about their childhood they tell her it wasn’t always the best. I asked her what she meant by that. She said, "We didn’t have a lot of extra money for expensive vacations.” She explained, … [Read more...]

You don’t have to start your own business to be an entrepreneur. That was some key advice I recall from the late Tom Stemberg, founder of Staples, when he spoke at Babson College—known for its entrepreneurship programs. Stemberg felt that the best way to continue a business education was by working for a company that was already established—a leader in their field. His idea was to absorb as much as possible, and then, after seeing how the sausage was made, determine if you had the stomach to really do something on your own. I was reminded of this sage advice from Stemberg during a recent … [Read more...]

“So where have we retired? The local airport is our retirement home and will be for the next 10-years,” wrote my new friend Nancy in response to my “Your Retirement Life” series. “My husband just retired at 70 from pastoring a local small church for 35 years. For many years it was full time work, on a part time salary. I still work part time as a nurse locally and we homeschooled 6 of the 7 children K-12. We now have 23 grandchildren in 4 far away states. Ideally we’d ALL like to live closer…but those jobs!!!!” I emailed Nancy, to thank her for sharing her story, and asked if she would have a … [Read more...]

Lately, I've been obsessed with everything Jeff Bezos, CEO of Amazon. I'd love to own his stock, but not at these prices. Does that mean the stock is going down? Hardly! I just don't see the margin of safety—a term coined by the late, great Benjamin Graham who taught Warren Buffett a thing or two about investing. You won't be surprised by this, but Mr. Graham paid particularly close attention to one word: Dividends. Bezos' Amazon doesn't pay a dividend. But it does deliver. Sometimes the foyer at my house feels like a fulfillment center with all the boxes. Everything Bezos touches, like an … [Read more...]

Your Retirement Life is my brand-new series featuring stories from you. I want to know what you’re up to. [inlinetweet prefix="" tweeter="" suffix=""]We can only learn from each other.[/inlinetweet] Please share Your Retirement Life by emailing me at: ejsmith@youngresearch.com I received this great email yesterday: "EJ, Our Porsche is a 1986 911 Turbo which I purchased new 30 years ago. It’s in great condition and we love taking it on the terrific driving roads in the Rocky Mountain West. This past weekend a neighbor couple, in their 360 Ferrari, joined my wife and me for a driving … [Read more...]