It has been a year for humility as many of the traditional methods of managing risk inside portfolios have been taxed. It has been a year of consciously focusing on gratitude for all that we have and all that has gone well. It also has been a year where the value of our disciplined commitment to planning has never been more highlighted.
Creating a habit of saving is hard, really hard. It requires discipline and few people enjoy discipline. But your daily disciplines (or lack thereof) can have a profound impact on your future.
Consider the daily latte. The average medium latte at Starbucks costs $3.65 assuming you don’t “doctor” it up with extra flavors, different milks, etc. That cost is pre-tax. We know that $3.65 can add up, but what does it add up to? Let’s look at some simple math behind a lattehabit. The chart below illustrates the future value of that cup of coffee, depending on your consumption.
In the last few days stocks have taken a beating. Volatility has finally returned after a near two year hiatus. Friday February 2nd saw the largest single one day drop in the Dow Jones Industrial Average history. The following Monday (Feb. 5th) saw some of the largest intraday swings in history, ranging from down over […]
In my decade plus time advising clients, I have seen this truth—my most joyful clients are my most successful investors. Not the other way around. The rewards follow the joy, not joy the rewards. They view the future as bright and invest faithfully in it knowing that no amount of market return will ever be able to generate an internal joy, but that prudent stewardship and a long-term perspective can perpetuate the upward spiral of joy.
Daily living, marketing, and the widespread adoption of mobile devices and social media have made it increasingly difficult to remain focused. Often, it is difficult to even know where to focus, much less maintain it over it time. But I’ve come up with a little reminder that I like to review from time to time, and I want to share it with you.
Quit Beating Yourself UpMay 22, 2023 - 12:28 pmNetflix has a new documentary chronicling the Bernie Madoff story. My wife and I aren’t the biggest TV watchers, but we started the series at the recommendation of a friend. If you haven’t heard the name, Madoff was the architect of arguably the biggest Ponzi scheme in history, carefully orchestrating the flow of billions of […]
