This week we celebrate our nation’s independence. Read our terrific links and create your own financial July 4th – an independently wealthy retirement. More than 70% of Americans claim social security before turning 64. Bloomberg Annuities in 401(k)’s may cause more problems than they solve. Barron’s Nursing home costs are rising faster than health care….
Anthony Isola
Compounding Gone Wild!
What’s the most deadly financial mental illness? Introducing – exponential growth bias. Many can’t comprehend the basic premise of compounding – reinvesting interest on interest. Its effects are devastating. According to The Wall Street Journal, “Research shows that this bias matters: Households with a stronger bias tend to save less and borrow more. They have…
Whats More Confusing, Your Cable Bill, Cell Phone Contract Or Variable Annuity?
Recently, I got to sit down with YouTube sensation Yanely Espinal on her popular MissBeHelpful channel. We covered a wide range of topics concerning teachers and their mostly hideous 403(b) plans. Included in our chat: Why are variable annuities the most expensive way on the planet to own a mutual fund? Are you stupid because…
It’s Monday Again…..When Is My Retirement?
Stocks go up, stocks go down. Focus on the things you can control. Your saving and spending rates will determine your future. Read about what really matters in this week’s terrific links. Spending time outside is a great investment. The Washington Post Bad news can be better than uncertainty. The Humble Dollar Why are more…
Live Rich, Die Poor
Money is a ticket. Purchase happiness or count your daily beans. The choice is yours. Our recent trip to Italy confirmed the data presented by the likes of Brian Portnoy and Daniel Crosby. No need for fancy charts or psychologist’s white papers. Italians get it and do it. All isn’t perfect. Italy is a fiscal…
It’s Monday Again…..When Is My Retirement?
Back from Italia edition. In Italy older workers are covered by a pension that replaces 77% of their salary, In America, you need to save for yourself. Start by reading this week’s terrific links. Ice Cream, Pizza, and Bacon are more dangerous than a market crash. MarketWatch Do financial literacy classes make people better retirement…
Financial Astrology, From Manure to Markets
Forecasting the short term movements of the markets is virtually impossible. This tidbit hasn’t stopped people from trying Making money from failed predictions is a big-time business. We are still waiting for hyperinflation and skyrocketing gold prices the “experts” warned us about from all that money printing From Dow 36,000 to Bitcoin $100,000, so-called experts…
It’s Monday Again….. When Am I Going On A Vacation To Italy?
Today! – I’m sure the retirement world won’t miss me on my hiatus. Being completely honest, this will be a lot more fun than writing about social security strategies. Not that there is anything wrong with that! We are off to Trento to visit family but not before I post this week’s awesome links. Early…
The Retirement Land That Time Forgot – The Video
K-12 teachers 403(b) plans aren’t covered by stringent government ERISA regulations? What the hell is that about? When NO ONE is responsible for the investment selections, bad things happen. The vast majority of public school teachers are sold expensive annuity products that deny them the opportunity to build wealth over time. Many school administrators and…
Where is the Fiduciary Responsibility to Capitalism?
You can’t win the game if you don’t know the rules. Capitalism relies on the free flow of information. Any rupture deprives the free market oxygen needed to sustain itself. Judging by these criteria, the K-12 403(b) market is on life support. A lack of transparency combined with toxic financial illiteracy created a market that…
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