Your Survival Guy

Preparing your investments and family for when disaster strikes.

Disclosure

  • Home
  • Your Survival
    • Your Survival Guy’s Super States
    • 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
    • Your Survival Guy: “Life on Main Street Hasn’t Been This Hard in a While”
    • Preparing for Times Like These
    • My Videos/Pics
    • Music
      • RIP Neil Peart: You Will Always Be Remembered as a “Modern-Day Warrior”
    • Your Survival Guy: Make Your Bed and The Hero Code
  • 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
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • 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

Your Retirement Life: Our Cabin on Kodiak, Alaska

October 15, 2019 By E.J. Smith - Your Survival Guy

I’ve been working with Dr. Lee for 16-years. He was only 53 when he became a client. Even back then he was the millionaire next door.

But for about two weeks of every month, he doesn’t have any neighbors. That is unless you happen to have a cabin on Kodiak Island, Alaska. Even then you probably won’t see each other. Overlooking the water, his cabin is a fly cast away from world-class King Salmon fishing. He loves to fish.

He also loves to share his knowledge and to keep learning.

Before he retired he would sharpen his professional axe teaching university students about oral healthcare. Today he still attends a financial seminar every year to keep up on the world of finance and investing. You wouldn’t believe some of the horror stories he’s told me from investors he’s spoken to at these events. Oftentimes he sums up the seminars like this: “You know E.J., it turns out compound interest still works.”

Dr. Lee knows investing is simple. He also knows realizing investment success is difficult to do. That’s why we’ve worked so well together for so many years.

E.J.-I was out at my cabin on Kodiak recently with some friends. Talk got around to how can you afford to do this. I told them about what we recently talked about and the idea for this Thank You note was born. I’m the one in the center holding the homemade note. They all send their thanks since this probably wouldn’t have been possible without your help. Have a great day. Lee

The Land of Giant Bears | Full Documentary – Planet Doc Full Documentaries

Part of my effort on your behalf is to help you avoid inertia, get into the compounding game, and always be prepared for the worst. Always think about your risks first and realize the success you and your family deserve. It’s that simple.

Here’s what Dr. Lee wrote to me later about investing:

It’s not Rocket Science. Simple. Start early follow the Young philosophy and stay the course. Einstein‘s 8th wonder of the world will do the rest for you. Lee

That eighth wonder of the world is compound interest. The best way to begin understanding the power of compound interest is to consider saving for your grandchild. Back in July, I wrote about such a scenario:

The short answer is, early. The earlier you can start saving for your grandchild, the greater the impact you’ll have on their life.

Take a trip with me. Let’s say you help a grandchild get into the savings game when they’re born by contributing $525 per year to an account you establish for them. (I favor UGMAs for this purpose). You diligently save each year for her first 21 years.

Then when she turns 22, she continues along the same path, saving $525 on her own each year until she’s 64.

Look at my table below to compare her success to someone who begins his investment savings at age 22 at double the savings rate of your granddaughter, saving $1,100 each year. Even though he’s saving twice as much each year, when he turns 64 he’ll have half as much as your granddaughter simply because you helped put time on her side with your early generosity (I’ve used a long-term expectation for stocks of 6% growth per year).

So, how do you save money for your grandchild? Easy, put time on their side.

You must be the one to harness the power of compound interest by saving early and often.

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)

  • Happy Independence Day! - July 4, 2022
  • WATCH: New York Governor Melts Down When Asked for Facts - July 1, 2022
  • Even Without Food and Gas, Inflation is Soaring - July 1, 2022
  • Survive and Thrive July 2022: MONEY TALKS: Your Survival Guy’s Best Service in Paris - July 1, 2022
  • Time to Save, Troubles Dining Out, and Intelligence on Yellowstone - June 30, 2022

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

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

Related Posts

Money 101

Trending

  • This State Leads America in Gun Ownership
  • Time to Save, Troubles Dining Out, and Intelligence on Yellowstone
  • Proper School Security Stops Potential Attacker
  • Your Survival Guy: Clearing the Decks, Buying a Boat, Seeing the World and More
  • Here’s Why You Need a 15-Year Retirement Investment Plan
  • The Supreme Court Could Destroy Democrats’ Favorite Anti-Gun Tool
  • WATCH: New York Governor Melts Down When Asked for Facts
  • The Zombies of San Francisco
  • More Guns Means Less Crime in Brazil Too
  • SECRETLY INSOLVENT: Crypto Exchanges Hiding Their Troubles

Must Reads

  • Why You Can’t Afford to Miss the Boat
  • Americans Fleeing High Tax States for Growth Corridors
  • FIRE AND ICE: Defeat the Cold by Stocking Firewood
  • Your Best State on Guns, Plus the 8th Wonder of the World
  • Your Survival Guy: Simple Prepping for Winter Storms
  • BLACKROCK’S BITCOIN-ESG PARADOX: You Can’t Have It All
  • GAME ON! Lessons from Street Hockey on Baker Lane
  • HELLO: “How’s It Going? I Don’t Know Anything”
  • GET PAID: How To Invest in Biden’s Inflationary Market
  • Your Survival Guy’s Fishing Stories: From Key West to Newport
Only if You’re Serious
Your Survival Guy in Paris
Your Survival Guy's Fishing Stories
Financial Independence, Retire Early
Money 101
Pandemic Creates Virtual Panopticon
Emergency Water Storage
Key West Summer Camp in March
Find Freedom in America
Second Amendment
How Can You Save Money for Your Grandchild
Great Reset
See Who's Missing the Boat
Richard  Young Reports
How You Can Save Money for Your Grandchild
Why Fidelity is Number One
The Best States for Survival
You Invest, They Win
Escape the City
Why Vanguard is Too Big for YOU
Island Life

Copyright © 2022 | 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.