During my working career, I was fortunate to become close friends with many very successful people. Tom (fictitious name) fit that mold. We had each other’s home phone numbers and talked regularly. Tom was a high-level vice president of a major corporation and was the speaker at a banquet for our training class. He asked me to stay when the […]
» Read moreYoung people fear that Social Security will be broke and are struggling to fund their IRA and 401(k) retirement programs – where do they start? Steven H. a friend from Bleacher Nation, my favorite Chicago Cub website, provides an excellent example: “I am 26 years old, a long way from retirement, and I know it’s important to start early. I […]
» Read moreDoes anyone believe that people standing on the deck of a sinking Titanic would be overcome by the emotion of “witnessing history”? I believe survival would be more appropriate. I opened my inbox and found MarketWatch and four other publications referencing a Bank of America Merrill Lynch (BOAML) report “Interest Rates at Lowest Level in 5,000 years”. CNBC goes one […]
» Read moreI hung up the phone and shook my head. I have a good friend (I’ll call him Joe) who talks with me about his retirement fears. He’s in his peak earning and expense years with children getting ready for college. He’s diligent about making his 401 (k) contributions although he is not contributing the maximum. As always, I suggest he […]
» Read moreWhat happens when a retiree can’t pay his bills? The tragic photo of the Greek pensioner in the Express Tribune still haunts me. What a horrible feeling it must be to work hard your entire life, save your money, play by the rules, and then have your retirement hopes and dreams pulled right out from under you. Could Americans end […]
» Read moreWe just took off, probably less than 500 feet in the air, and I started screaming, “FIRE!, FIRE!, FIRE!” I was still a teen-ager, flying in the Marine Corps version of a flying boxcar. There were only two small, round windows in the back of the plane. Flames were pouring out of the starboard engine well past the rear window. […]
» Read moreRemember going with your parents to the bank to open up your own savings account, in your own name? It was neat! What were you trying to accomplish? Maslow’s hierarchy of needs is a great tool for understanding investing. The base of all human needs is survival. Each and every day we need food and water to survive. Without that, […]
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