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

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)

  • 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
  • Welcome to the Interest Rate Prediction Business, JACK!
  • Long Live Rush Limbaugh: Our Walk in the Woods
  • America’s Growth Corridors as Written in 2013 by Joel Kotkin
  • How One Man and His Family Survived the Texas Deep Freeze
  • New Assault Helicopter Design to Revolutionize U.S. Army Capabilities
  • Your Retirement Life: Meet Larry the Car Wash Guy
  • Deep Survival, Who Lives, Who Dies, and Why
  • COVID Chaos: New York and California vs. Florida and South Dakota
  • You’re Worried About Money, Not Just Losing It

YOUR SURVIVAL GUY MUST READS

  • Is Your Stock Portfolio Suffering from the Dunning Kruger Effect?
  • Zoom, Zoom, Zoom Towns
  • China Conducts Coordinated Mutli-Layered Suicide Drone Test
  • Sunbelt States Finding Solutions for a Swarm of Tax Refugees
  • Why Vanguard is too Big: Part VIII: You Can’t Know What You Don’t Know
  • Why Vanguard is too Big: Part V: How You’re Being Forgotten
  • Today’s Suburban Female Voter: “You Ain’t Takin’ My Guns.”
  • Do You Know Who’s the Largest Owner of Farmland in America?
  • It’s Never a Bad Time to Downsize Your Home
  • Investing in Water: LET THERE BE WATER
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.