Your Survival Guy

Preparing your investments and family for when disaster strikes.

Disclosure

  • Home
  • Your Survival
    • EMP Threat
    • Tucker Explains
    • Newport Gas Outage
    • Water
      • Emergency Water Storage
      • Let There Be Water
    • Get Your Gun and Your Training Now
    • Satellite Phones
    • Navy SEAL Survival Kit
  • Your Money
    • Coronavirus Infects Stock Market
    • Looking for a Better America
    • You Invest, They Win
    • Where to Keep Your Cash
    • Paris
    • How to Buy a Boat
    • Dead or Alive? The Future of Long-Term Investing
    • Is Vanguard too Big?
    • Cryptocosm and Life After Google
    • The Last Intelligence Report
    • The Truth Behind the S&P 500
    • RAGE Gauge
    • How Many “Retirees” Will Keep Working?
    • Your Retirement Life
    • You’ll Love This if You’re Dreaming of an Active Retirement Life
  • Weapons
    • Self Defense
    • Every Family Should Own at Least One Shotgun: Here Are Three
  • About Me
    • Preparing for Times Like These
    • My Videos/Pics
    • Music
      • RIP Neil Peart: You Will Always Be Remembered as a “Modern-Day Warrior”
  • You
    • Our Cabin on Kodiak, Alaska
    • If You Are in Pain, this May Help. It Helped Me.
    • How to Save for a Grandchild
    • FIRE! Financial Independence, Retire Early
    • Compound Interest
    • Arithmetic of Portfolio Losses
    • Maximum Portfolio Withdrawal Rate
    • An Efficient Frontier
    • Retirement Compounders
    • Counterbalanced Total Returns
  • Survive & Thrive
    • February 2021
    • January 2021
    • December 2020
    • November 2020
    • October 2020
    • September 2020
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • April 2020
    • March 2020
    • February 2020
    • January 2020
    • December 2019
    • November 2019
    • October 2019
    • September 2019
    • August 2019
    • July 2019
    • June 2019
    • May 2019
    • April 2019
    • March 2019
    • February 2019
    • January 2019
    • December 2018
    • November 2018
    • October 2018
    • September 2018
    • August 2018
    • July 2018
    • June 2018
    • May 2018
    • April 2018
    • March 2018
    • February 2018
    • Welcome

You’re Worried About Money, Not Just Losing It

February 18, 2021 By E.J. Smith - Your Survival Guy

By Olena Yakobchuk @ Shutterstock.com

I had a conversation with a prospective client yesterday telling me he wants preservation of principal with growth. And on top of that, he told me what stocks he wanted to own. (You know the names, I won’t bore you.) “Because I don’t like to lose money,” he said.

In my over 25-years working in the investment business, I have yet to meet someone who “likes” losing money. It’s not a “well he can afford to lose some money” thing either. Losing money is losing money. No one likes to be a loser. Period.

On a separate note, I had a real nice conversation with another prospective client earlier this week. We talked for about an hour. He told me about his family farm, and how he and his wife do most of the work themselves. We talked about their family, saving money when there wasn’t any to spare, doing without, and the overall state of the world. At which point he said, “And I haven’t even told what investments we own.”

“You don’t need to,” I responded.

Action Line: Sometimes, the key to investing is understanding who you are and not so much where the market is. And finding someone who understands that is easier said than done.

My father in law Richard Young writes about the Prudent Man here:

The Prudent Man Rule is based on common law stemming from the 1830 Massachusetts court formulation Harvard College v. Amory. The Prudent Man Rule directs trustees “to observe how men of prudence, discretion and intelligence manage their own affairs, not in regard to speculation, but in regard to the permanent disposition of their funds, considering the probable income, as well as the probable safety of the capital invested.”

Since I started our family investment management firm in 1989, I have operated under the assumption that the Prudent Man Rule to this day carries as much weight as it did in 1830. Common sense and prudence just don’t go out of style—ever.

The following two tabs change content below.
  • Bio
  • Latest Posts
My Twitter profileMy Facebook profileMy Instagram profile

E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com
My Twitter profileMy Facebook profileMy Instagram profile

Latest posts by E.J. Smith - Your Survival Guy (see all)

  • Welcome to the Interest Rate Prediction Business, JACK! - February 26, 2021
  • Petrified Snow/Ice Fishing? How about a Boat? and More - February 25, 2021
  • COVID Chaos: New York and California vs. Florida and South Dakota - February 24, 2021
  • How One Man and His Family Survived the Texas Deep Freeze - February 24, 2021
  • UPDATE: Your Gun Rights and Freedom Are Under Assault - February 22, 2021

If you enjoyed this post, email it to a friend:

  • Email
  • Print
  • Facebook
  • LinkedIn
  • Twitter
  • WhatsApp

Related Posts

Trending

  • Permitless Carry Corridor Expands: Red States Trouncing Blue States on Freedom
  • Long Live Rush Limbaugh: Our Walk in the Woods
  • America’s Growth Corridors as Written in 2013 by Joel Kotkin
  • Update: H.R. 127 Hostile to Law Abiding Gun Owners
  • Your Retirement Life: Meet Larry the Car Wash Guy
  • New Assault Helicopter Design to Revolutionize U.S. Army Capabilities
  • You’re Worried About Money, Not Just Losing It
  • “The Bachelor” & More False and Exaggerated Claims
  • Do You Know Fidelity’s Best Kept Secret Weapon?
  • You’re Witnessing Reckless Spending and the Destruction Of…

YOUR SURVIVAL GUY MUST READS

  • I’ve Been in Richard Young’s Maximizers for Years
  • The Big Blue Blobs in the Northeast
  • To Where Will You Flee?
  • Unmasking Heath and Human Services Secretary Nominee Xavier Becerra
  • Tucker Explains: Chinese Intel Op Targeted Democratic Politicians Including Eric Swalwell
  • How to Treat Your Money (Hint: Not Like this Guy)
  • What Living in Two Americas Looks Like Today
  • Robinhood’s Not Coming to Save You
  • Why Vanguard is too Big: Part VI
  • Every Family Should Own at Least One Shotgun: Here Are Three
Only if You’re Serious
50 + Years
Only if You’re Serious
Only if You’re Serious
Only if You’re Serious
Only if You’re Serious
Escape the City
Smith Family Robinson
The Best States for Survival
Only if You’re Serious
Why Vanguard is Too Big for YOU
See Who's Missing the Boat
You Invest, They Win
Emergency Water Storage
Emergency Water Storage
Emergency Water Storage
Why Fidelity is Number One

Copyright © 2021 | Terms & Conditions

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.