Keep hitting singles
Getting a few simple things right over an investment lifetime — and less emphasis on home-run hitting — will carry most of the freight.
– Investment writer Danny Noonan, in a 5/13/24 Morningstar article. He said those simple things include investing regularly and not panicking during market sell-offs. Read more at bit.ly/3V0m4xe.
Staying power
The real financial risk is living to a ripe old age. That raises the question: As you make your retirement plans, shouldn’t you care more about the live version of your future self, rather than the dead one?
– Jonathan Clements, in a 5/4/24 post on his Humble Dollar blog. He said too many people focus on protecting against the risk of an early death rather than a long life. Read more at bit.ly/3VceXSh.
Hard to put a price on it
We can place a dollar-value on a pontoon boat, but how do we value the memories of being out on the lake with family and friends?
– Financial advisor Mike Troxell, in a blog post about the importance of investing in memorable experiences with those you love. Read more at bit.ly/3wLw3xc.
Generosity training
If we can help them understand how joyous [charitable giving] is, then maybe that becomes a way of life for them.
– Rob Hale Jr., billionaire chief executive at Granite Technologies, quoted in a 5/23/24 Wall Street Journal article. Hale, commencement speaker at University of Massachusetts Dartmouth, gave $1,000 to each of the roughly 1,000 graduates in the class of 2024. He said they could use half of the money however they wanted but asked that they give the other half to a worthy cause. Read more at bit.ly/3Kks11R.
Looking beyond the spreadsheet
A lot of folks want to second-guess our decision, pointing out how much more we might make in the stock market had we not paid off our mortgage. Investing means taking on risk. We opted for the guaranteed return of an early mortgage payoff. But there is another very tangible benefit to being mortgage-free — peace of mind.
– Washington Post personal finance columnist Michelle Singletary, in a 5/24/24 article on why she and her husband opted to pay off their 2.75% mortgage early. Read more at bit.ly/3Kj5PVS.
Building on a strong foundation
…90% of inheritances are completely gone by the third generation: People inherit money, then spend it without having a carefully considered plan for doing so. Frequently, that plan needs to start with you, lest your heirs make imprudent decisions that reduce the impact of the estate you worked your entire life to build.
– Financial advisor George Pikounis, in a 5/29/24 Kiplinger’s article. He said that simply willing all your assets to your children may put your estate on a shaky foundation. Read more at bit.ly/3X7Altg.
