Monthly Archives: May 2018
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The Retirement Pyramid

Riffing off the widely-seen-but-rarely-followed food pyramid, advisor Tony Isola created the retirement pyramid.  Remember how this works — you want to  do a lot of the stuff at the bottom of the pyramid and very little to none of the high-level stuff.  Follow this guide to be wealthier and healthier!

10 Questions That Will Help Define Your Investment Philosophy

STOPANDTHINKTo define your investment philosophy, consider these key questions:

  1. What are your core investment beliefs?
  2. Do you understand your philosophy and why you believe in it?
  3. Do you know the potential risks?
  4. Does it suit your personality and individual circumstances?
  5. Will your philosophy help you follow whatever strategy you implement?
  6. What constraints are necessary for turning your philosophy into a portfolio?
  7. What will you own and why will you own it?
  8. What will cause you to buy or sell?
  9. What will cause you to make changes to your portfolio over time?
  10. What types of investments or strategies will you avoid?

 

Source: AAII

Financial Free Lunch?

freelunchBarry Ritholtz lays bare the myth…

Deep down inside, you already know this: There ain’t no such thing as a free lunch, financially or otherwise.

Of so many free lunches, this is the hard truth:

  • You are not going to win the lottery.
  • Hot stock tips are worthless (the only exceptions are those especially costly tips that will get you sent to federal prison).
  • You are not going to buy an iPad from one of those deal sites for $3.
  • No, you are not likely to buy in early to the next Apple or Netflix, and if you do, you are unlikely to hold it long enough.
  • No, you are not going to make $10,000 gambling at fantasy sports.
  • You (or your kid) are not going to be the next Michael Jordan or Adele.
  • The odds are radically against you finding the mutual fund manager or stock broker who is going to make you fabulously rich.
  • Indeed, the odds are against you stock picking, market timing or investing in a venture fund, private equity fund or hedge fund that, over the long haul, is going to outperform a simple index fund.

Source: BR

How to Succeed and have a Long and Happy Life

Legendary banker Richard Jenrette passed away last week at the age of 89.  In his desk he left a hand-written note listing his 24 rules to succeed in finance and life.  The note titled, “What I Learned (How to Succeed and have a Long and Happy Life),” was shared at his memorial service in Charleston, SC:

  • Stay in the game. That’s often all you need to do – don’t quit. Stick around! Don’t be a quitter!
  • Don’t burn bridges (behind you)
  • Remember – Life has no blessing like a good friend!
  • You can’t get enough of them
  • Don’t leave old friends behind – you may need them
  • Try to be nice and say “thank you” a lot!
  • Stay informed/KEEP LEARNING!
  • Study — Stay Educated. Do Your Home Work!! Keep learning!
  • Cultivate friends of all ages – especially younger
  • Run Scared — over-prepare
  • Be proud — no Uriah Heep for you! But not conceited. Know your own worth.
  • Plan ahead but be prepared to allow when opportunity presents itself.
  • Turn Problems into Opportunities. Very often it can be done. Problems create opportunities for change — people willing to consider change when there are problems.
  • Present yourself well. Clean, clean-shaven, dress “classically” to age. Beware style, trends. Look for charm. Good grammar. Don’t swear so much — it’s not cute.
  • But be open to change — don’t be stuck in mud. Be willing to consider what’s new but don’t blindly follow it. USE YOUR HEAD – COMMON SENSE.
  • Have some fun – but not all the time!
  • Be on the side of the Angels. Wear the White Hat.
  • Have a fall-back position. Heir and the spare. Don’t leave all your money in one place.
  • Learn a foreign language.
  • Travel a lot — around the world, if possible.
  • Don’t criticize someone in front of others.
  • Don’t forget to praise a job well done (but don’t praise a poor job)
  • I don’t like to lose — but don’t be a poor loser if you do.
  • It helps to have someone to love who loves you (not just sex).
  • Keep your standards high in all you do.
  • Look for the big picture but don’t forget the small details.

This is good advice for anyone!

Source: Bloomberg

 

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