The takeaway:Deliberate purposeful practice wins the day–not talent. So say FSU’s renowned Anders Ericsson along with Robert Pool in the book Peak: Secrets from the New Science of Expertise. Whether you want to pen the great American novel, improve your golf game, or learn to draw, deliberate practice is the path—no talent required. $$$ … [Read more…]
The takeaway: Protect yourself from sequence of returns risk so it doesn’t wreak havoc with your retirement plans. Sequence of returns risk is the danger that market returns will decimate your nest-egg, just as you finally need that money to live on. If you plan to ever live off your savings, you’ll want to understand … [Read more…]
The takeaway: The Coronavirus and your nest-egg should each be treated the same way during this crisis: maintain social distance. Take the long view. History shows that, in time, the market will return to its recent highs, and eventually surpass those highs. Beware the flight to “safety.” For now, understand basic nest-egg management principles. $$$ … [Read more…]
The takeaway: Dave Ramsey has devoted much of his adult life to helping folks get out of debt. His debt relief teachings seem to work. When he branches into areas like investing, caution is required. But if debt’s the issue, Ramsey’s the man. Here’s a review of two of his best sellers. $$$ When Dave … [Read more…]
The takeaway: large-cap, mid-cap, and small-cap stock funds in your nest-egg are ways to stem market losses and enhance market gains. Just make sure that your personality matches the personality of these large-, mid-, and small-cap stocks before you buy. $$$ Last month’s post was an affair by the numbers. We looked at 40 years … [Read more…]