You’re telling me your life is good and, in times like these, it is so great to hear. You’re telling me, especially if you’re retired, that your life hasn’t changed all that much. No, you don’t see family as much (you’re looking forward to the 4th when you might), but you’re keeping busy. Here are a few items we spoke about this week: You’re golfing a lot. But not as well as you’d like to. At your recent doctor’s appointment, you asked for a prescription to get you straighter off the tee. You’re building a deck. That is, if you can find pressure-treated wood. I spoke with two … [Read more...]
COVID-19, Riots, Accelerate the Escape from the City to Small Town, USA
Americans living in big cities in states where governors have gone wild with shutdowns, but allowed riots to rule the streets are trying to escape. The COVID-19 pandemic and the rioting that has followed it have accelerated the exodus from many of the big tax cities Americans were already trying to flee the big city blues. They're seeking some shelter away from it all. Many of them are heading to the suburbs or the exurbs, but many of them are also heading to the lower cost, smaller cities in the South, and West that were already popular destinations for escapees before chaos … [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...]
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...]
Your Retirement Life: Run from Shiny Happy People
Let’s start with our bank of bad habits, shall we? The most common one I see is the annuity. How do they even get into a portfolio? I’ll tell you. “Well,” a prospective client might say, “I had a cousin who told me about that one.” Or, “It was sold to me years ago by some guy. I don’t remember his name.” Or, “My employer brought in this company to give us a presentation.” You get the idea. When investors are young and start making a little scratch, they don’t spend time researching investments. They’re too tired. They don’t have time. They trust who they’re talking with. Plus, the kids are … [Read more...]
Your Retirement Life: Bankrupt in Two Weeks
When an investment sounds "too good to be true” we immediately know the refrain. Why then do investors get stuck in this trap time after time? Because it’s those who can’t afford to lose money who take the biggest hits. Which reminds me, by the way, who can afford to lose money? No one. When investors look for the market to do something for them, they are immediately placed on a slippery slope. When investors sell out of the market they now need Mr. Market to help them make up for their losses. Then, along comes an investment product with a fancy gimmick that appears to be fail-proof. And … [Read more...]
You Need to Seek Some Shelter for When Things Get Ugly
Coronavirus Infects Stock Market: Part LVI “Requests for driving directions on Apple Inc.’s Maps app are back around mid January levels, while data from Dutch location technology firm TomTom International BV show traffic congestion gradually climbing in some late U.S. cities, though it is still down substantially from March levels in many,” reports the WSJ. But after this weekend’s riots, who is in a rush to visit a city? The future of the city is on the rocks. Blue state governors and mayors have gone wild. They’re a fiscal mess. Consider the self-inflicted wreckage of mismanaged … [Read more...]
Where to Live in Retirement? I Got You Covered Baby!
Coronavirus Infects Stock Market: Part XLVII You worry about where you live in retirement. I get it. You hate the idea of leaving your kids behind. I’m here to tell you: Don’t despair, they’ll visit! But if social distancing is your concern, consider snowy Maine or New Hampshire in January. You might see a bear or two, but they’ll be back asleep before you know it. You’re going to love your new-found freedom. Thumbing through my 2020 copy of the Traveler’s Guide to the Firearm Laws of the Fifty States, Maine stands up strong. Want to drive a gun to your home? Fine. Just be sure to leave … [Read more...]
You Owe it to Yourself to Continue Doing What You’re Good At
Coronavirus Infects Stock Market: Part XLVI Clients of mine on the West Coast, we’ll call them Rock and Tess, sold their business a number of years ago. They were in their early 50s. Rock could care less about money. Tess handles that. Rock fixes things. Rock can fix just about anything mechanical. Rock is still working. He doesn’t need to. But Rock loves his work. He continues to do what he loves to do. In speaking with Tess this week, I remind her that a j-o-b is one of the most valuable assets in the world today. If “retirement” can wait, why not let it? I tell her … [Read more...]
Your Retirement Life: Follow the Rules, Lockdown the New Norm
You’re seeing firsthand how the cure is worse than the disease. When governors go wild we all suffer. Take Newport, RI for example. The beaches are closed, but the Cliff Walk is open. The Cliff Walk is narrow. It’s impossible to social distance on a five-foot wide path. Now, there’s a huge sign (like the ones you see on the side of a highway) flashing: “Face masks must be worn.” Who are they protecting? In New Hampshire, the Appalachian Mountain Club is closing its hiking huts for the season. The parking lot to the popular Diana’s Bath trail is closed. The Newport Folk and Jazz festivals … [Read more...]