Recently I heard someone cite the old expression, “a penny saved is a penny earned.” It's hard to argue with the logic of this straightforward idea. But, as you think through more involved financial questions, I think you'll want to be careful with simple rules of thumb. Below I will address four [...]
A valuable second chance
Sometimes life hands us second chances. And sometimes the stock market too offers up a second chance. They don't come along as often as we'd like, but that is exactly what we've seen this year. After a quick and very steep drop-off starting in late-January, the U.S. stock market has recovered [...]
Semi-genius
Warren Buffett once quipped that, “It's only when the tide goes out that you discover who's not wearing a bathing suit.” I've been thinking about this idea over the past week, as markets around the world have given up all their year-to-date gains, and then some. Since peaking at the end of January, [...]
Relatively normal
Ted Benna, the inventor of the 401(k) retirement plan, famously once stated that the system he created should be “blown up.” Why? It's not the fundamental structure, which he still believes in. What he doesn't like is the complexity and the costs that characterize today's typical 401(k). The [...]
What comes next
By any standard, in 2017 the stock market had a great year, gaining more than 20%. But, was that kind of gain justified, or should it worry us, especially after the market had already tripled in recent years? Of course, opinions differ. But, I think it's useful to understand the range of viewpoints [...]
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