In early 2020, much of the world went into a lockdown due to a medical pandemic. Governments warned millions could die. The world was scared. Headlines like, “Coronavirus sparks stock market chaos” were common. Wikipedia reports: “During March 2020, global stocks saw a downturn of at least 25%, and 30% in most G20 nations. …. Goldman Sachs warned that the […]» Read more
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In early 2020, much of the world went into a lockdown due to a medical pandemic. Governments warned millions could die. The world was scared. Headlines like, "Coronavirus sparks stock market chaos" were common.
"During March 2020, global stocks saw a downturn of at least 25%, and 30% in most G20 nations. …. Goldman Sachs warned that the US GDP would shrink 29% by the end of the 2nd quarter…and that unemployment could skyrocket to at least 9%. Australian Prime Minister Scott Morrison has called the looming economic crisis 'akin to the Great Depression'."
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I’m still angry! I recently wrote about our “capitulation”. Tim Plaehn explained: “The yield for passive investors in fixed income products is terrible. Savers and retirees start looking for other ways to make their money grow. Just like you and Jo, many investors have moved into stocks out of necessity rather than desire.” (Emphasis mine) Tim was polite. Why the […]» Read more
Inflation is defined as, “A general increase in prices and fall in the purchasing value of currency.” Inflation is a silent killer of retirement dreams. Most retiree’s income can’t keep up with inflation; even with the social security inflation rider. Jeff Clark’s article, “How to Deprogram Your Friends & Family from the Cult of Fiat Currency,” is a primer on […]» Read more
Gold has been around since the beginning of time. It sits in a lump, doesn’t pay interest; yet governments around the world hoard it, and investment pundits recommend we own some. As kids, we watched movies about pirates stealing it, governments fighting over it and women swooning when they receive it as a gift. Warren Buffett, a former gold critic, […]» Read more
Anyone remember when our money was backed by gold? Top of the dollar bill said “Silver certificate”? Today our bills say, “Federal Reserve Note”; called fiat currency. Fiat currency is government IOU’s (political promises). The value of fiat money is based on supply, demand and faith in the issuing government. Adam Smith said, “All money is a matter of belief.” […]» Read more
Remember the saying, “Everything comes to those who wait?” Investment gurus lectured us about patience and compounding. They blared, “Save $100/month, invest at 6% and you will be a millionaire when you retire.” Current interest rates make that impossible. 25 years ago, if you bought US treasuries, the compound interest doubled your money in 12 years. Using today’s interest rates, […]» Read more
I gave myself a wake-up call. Our recent article “Thinking About Retiring? Better Think It Through!” was a jolt for sure. For decades the mantra was save money and grow your wealth. We banked on the “rule of 72”. When the accumulated interest equals 72, you would double your money. Earn 6%, in 12 years you will double your money, […]» Read more
A friend recently asked me, “How is anyone going to be able to retire?” Since 2008, the retirement landscape has changed radically. This Atlantic article, How Retirement Was Invented provides some history: “In the United States, starting in the mid-1800s, certain municipal employees…started receiving public pensions…. By the 1920s, a variety of American industries…were promising their workers some sort of […]» Read more
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