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I’m proud to say that today is the one year anniversary of Live Richly. I didn’t know if it would last this long. I started it as an experiment to learn about social media and marketing, but it turned out I really liked blogging for its own sake. One of the best part [...]  Image courtesy of http://www.blondeepisodes.com I think it’s sad that older people are frequently overlooked in American culture. After all, they have a long life full of experiences, and a lot of wisdom to share. I would like to give you a peek into the life of someone very close to me, Ruby. Due to privacy concerns, I’ve changed the names of the people involved, although the details are true. 1. Pursue Your Passions – Ruby was one of 6 children born into an Italian immigrant family in Boston, Massachusetts. Her parents barely spoke English and they were far from rich. That didn’t stop her from realizing her dream to be a dancer. As a young child, she took lessons to improve on her natural talent. She started performing at the young age of 6 as an acrobat, eventually moving up to be a chorus girl at a club run by Lou Walters, the father of Barbara Walters. Ruby later performed in the Ziegfeld Follies, as a showgirl in Las Vegas, and as a member of the world-famous Rockettes. 2. Don’t Quit – Being a performer is hard on your body. You are expected to give 100% and smile while doing it, even if you are in pain from injuries. Ruby frequently had to use her willpower to get through a hard night, and that reliability is what kept her steadily employed in a field she loved. Continue reading 8 Life Lessons from Ruby, Age 94  The Boomers are guinea pigs in a giant stock experiment.
When it comes to investing, I’m not like most people. This fact was brought into sharp focus when I started reading some guest posts by Rob Bennett of Passion Saving, and found out that his stance on buying when stocks are cheap and not when they are expensive is a controversial one. To me, this just seems like common sense, but apparently many advocates of buy-and-hold won’t even let Rob give his point of view. One article in particular struck me, Stock Investing for the Long Run–But How Long is the Long Run? a guest post at Out of Your Rut blog. Rob looks at long term averages, and correctly states that your US stock purchases made in 2000 should pay off in the long run – in the year 2030. He asserts that stocks have performed as expected by students of history, but that most investors thought that the market would turn around much faster. The scary thing is that Rob is an optimist. Continue reading Will You Retire on Your Stocks?
This is an excerpt from the August 2010 issue of Global Asset Strategist. In Canada and the US, they are commonly known as boomerang kids. They are adult children, usually in their twenties, who move back in with their parents after living independently for a while. Unlike past generations, living with parents after age 21 is not stigmatized, but rather applauded as a sensible measure to avoid racking up debt. By 2006, 43.5% of Canadians under 30 were sleeping in their old bedrooms, while in the US, 10% of Americans under age 35 have returned to their parents’ home. For some young people, the decision is not whether to move back home, but whether to leave at all. Increasingly, the global trend is for adults to stay in their childhood bedroom well into their thirties. In Germany, dependent adult children are known as nesthockers or nest squatters. In France, pundits refer to “Tanguy syndrome,” named after a film about a 28 year old who refused to leave the family home. In New Zealand, the 20% of young men between the ages of 20 and 34 who live with parents are called “mummy’s boys.” Austria has its “Mama hotels” that are a comfortable refuge for Generation Y, while the UK has KIPPERS, or Kids In Parents’ Pockets Eroding Retirement Savings. Continue reading Boomerang Kids  Pension defaults have pushed seniors back to work. This is an excerpt from the February 2010 issue of Global Asset Strategist. In the US, most workers no longer have a pension, so they are herded into company sponsored retirement arrangements. These usually consist of a few, equally terrible options. The majority of workers can choose between a couple of different stock funds, or maybe a bond option. Plans that offer both are considered “diversified,” as if these are the only two asset classes. These arrangements are “one-size-fits all,” which means they fit most workers poorly. Ideally, consumers would consult a competent financial advisor who could tailor an individual retirement plan. Unfortunately, it can be difficult to get this level of personal service unless you have a large amount of money to invest. Continue reading Retirement Pitfalls Most families spend too much on necessities. This is an excerpt from the March 2010 issue of Global Asset Strategist. Over the years, I have read a lot of books on finances. Most of them are vague, complicated, or simply wrong. I found All Your Worth: The Ultimate Lifetime Money Plan, by [...] You could retire to a cheaper country to stretch your savings. Most people who work for an employer look forward to retirement. Maybe you’ve been dreaming of the trips you can take, or the hobbies you will finally have time to enjoy. Perhaps you have plans to retire early, to enjoy your [...] |
 
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