Hey, Boomer. There’s money to be made in index funds. And one of the richest men in the world thinks so too. Warren Buffett has instructed that 90% of the cash he bequests to his wife be invested in index funds. Why? Why not leave her some shares in Berkshire Hathaway, the magnificent company … [Read more…]
The takeaway: When they first hit millionaire status, the median household income of millionaires was $89,167. Their household income is less important than the habits these millionaires built to create financial independence. Here are the habits, and how failure to follow them, resulted in the complete derailment of one famous attorney’s retirement. $$$ This post … [Read more…]
The takeaway: GameStop is a declining company, whose stock enabled one investor to turn $53,000 into $48 million in barely 18 months. The stock’s unlikely investors have driven its share price to new heights, savaged Wall Street hedge funds, and caught the eye of Congress, due to fears their actions are roiling financial markets. It’s … [Read more…]
The takeaway: The book, How to Make Your Money Last, is a reference guide for any number of personal finance topics relevant to retirees and retiree wannabees. The book hits all the retirement highlights. As always with Jane Bryant Quinn, the book delivers the goods. $$$ Jane Bryant Quinn is an American treasure. She’s had a … [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…]