Real quick. You’re interested in hiring a financial advisor—one who’s held to a fiduciary standard by law, not some silly suitability one. You know you need help, but you just can’t make it happen because there’s resistance: No time, no real interest in digging into it, or you don’t know enough to explain to a loved one why you need it. “We’re fine, aren’t we?” She might ask. OK, here are summaries of two calls I had yesterday with prospective clients that will help you gain some perspective. The first one was with a prospective client whom was referred to me by a client I’ve been … [Read more...]
Who Wants to Live the Island Life? You Do
Originally posted September 14, 2020. Imagine sitting under a palm tree, toes in the sand, gazing across a turquoise sea with not a care in the world. Wouldn’t it be nice to feel like this most days of the week rather than only on vacation, especially in times like these? Now, I know it’s not exactly practical, even if you have a tropical island as the backdrop of your Zoom calls. But you’d be surprised at how much island life is right in front of your eyes. For example, when it comes to investing, my favored Prudent Man certainly stands alone as an island far away from your everyday … [Read more...]
You’ll Love This if You’re Dreaming of an Active Retirement Life
You’ll love this if you’re dreaming of an active retirement life. My clients are ski bums. Well, not exactly, considering they own their own place in the Tetons. But rising before dawn, queuing up for the first tram, especially on powder days, is a ski bum’s life. That’s why it was no surprise to receive this email: Hi EJ! Snow over a hundred inches so far in 2020! Every day a powder day! Several more days for this storm cycle! We have been very happy with your care of our financials. Skiing has been fabulous. More powder tomorrow! Will give you a call when we come up for … [Read more...]
Once Desolate Country Towns Now Overrun by People Trying to Escape the City
Small towns across America are dealing with something they haven't seen in a long time, population increases. For decades the United States have been urbanizing, as young people left their home towns in search of better opportunities in the nation's cities. Now, a mix of COVID-19 and riots and looting have driven them from the cities. They fled with their families to small country towns, seaside summer homes, and cabins in the mountains. In the Boston Globe, Vermont locals explain how they feel about the new influx of former city-dwellers who have turned up, filling their schools, roads, … [Read more...]
Who Wants to Live the Island Life? You Do: Part II
You read yesterday about how to live an "island life," whether that be on an actual island, or by simply protecting yourself from the dangers around you. One of the best parts of living on an actual island is access to the beach. But many islands with top beaches come along with a high cost of living. Thrillist has put together a list of the "World's Most Beautiful Beach Cities Where You Can Live for Dirt Cheap." There are some nearby places like Las Terrenas in the Dominican Republic, and some further afield like Canggu, Bali. The author writes: More than a few Americans fantasize … [Read more...]
Keep Working, if You Can
The best way to improve your retirement's financial picture is to keep on working if you can. Reshma Kapadla writes at Barron's: RESIST RETIRING PREMATURELY Given the health risks created by the pandemic and uncertain outlook for certain industries, early retirement may seem like an attractive option. But advisors recommend that those who are five to 10 years away from retirement should stay in the workforce, if possible. “The best way to improve retirement financial outcomes is to work longer,” says Jamie Hopkins, director of retirement research at Carson Group. “A year or two before … [Read more...]
Your Retirement Life: Albies on the Fly
From On the Water: "Photographer Sergio Diaz shot and edited this beautiful video about false albacore fishing at the end of Long Island. The waters of Montauk host some of the best albie fishing in the Northeast in September and October, and fishermen from around the world travel there to experience it." … [Read more...]
Going Up to the Country: Real Estate Heads out of Town
You have decided to escape the city, and now you're looking for what Laura Forman at The Wall Street Journal calls "location, location, isolation." She writes: Real-estate searches are looking a lot different lately. For years, home values have been greatly influenced not only by finished square footage and acreage, but also by walk scores and community. The pandemic is turning those factors on their head—at least for now. Airbnb, for example, is now touting its ability to enable users to work from anywhere, no matter how remote, after years of inviting its guests to “live like a … [Read more...]
California’s Power Failure is a Preview of the Green New Deal
If you want to get a glimpse of what the Green New Deal will do to America, then take a look at California. The Wall Street Journal's editorial board writes: Electricity blackouts are awful at any time, but especially during an extreme heat wave and for reasons that are man-made. That’s what millions in California have been enduring in recent days, and their plight is a warning to the rest of America about the risks of Green New Deal policies. The California Independent System Operator (Caiso), which manages the state’s power grid, declared a high-level emergency Friday and Saturday … [Read more...]
EJ-When I Read Your Piece: “You Want Maine Lobster”
EJ- When I read your piece “You Want Maine Lobster” it brought back memories of my days of frequent trips to the Boston area. My biggest customer at the time (1971-1978 or so) was Air Force Systems Command at Hanscom AFB. I was there probably two times a month for several years, sometimes staying over a weekend if we were negotiating a contract or other lengthy meetings. We almost always had one dinner at a roadside restaurant along a dark rural stretch of some road, possibly 2A. I don't remember the name of the place, but I always got a chicken lobster, fries and a beer or two. I think … [Read more...]