Due to a photoshoot and multiple basketball games, there will be no Week In Review vides–luckily, as you can see below, it was a light week of news.
Week In Review Articles
If all we give them is financial knowledge and put nothing in them we’ve failed them. Our kids deserve more than stocks and bonds. pic.twitter.com/vQECcZV5Nw
— Tyrone V. Ross Jr. (@TR401) January 11, 2020
Morgan Housel: What I Believe The Least “I believe culture is both important and can be created. But I only believe it a little, because there are limits. The World Series champions who stay at Motel 6 will be in a better mood than the losers who stay at the Four Seasons.”
Humble Dollar: Opening The Spigot “But if you’re choosing not to spend out of fear, you should probably seek out a social worker or a psychologist, so you can better understand what lies behind your anxiety. Each of us gets to travel this road just once, and you don’t want to reach the end of the journey filled with regrets.”
Retirement Field Guide: No One Saw This Coming “Watching the news does not make us educated investors. It provides the feeling of knowing what’s going to happen next which may be more dangerous than anything else. Because nobody knows. Despite the forecasts already being presented for 2020, nobody knows what going to happen this year either.”
Bob Seawright: Forecasting Follies 2020 “Before you make serious portfolio changes based upon some urgent warning, be sure you are well aware of the risks and opportunity costs of doing so…and make sure you know the full and complete track record of the forecaster upon which you are relying. Very few “expert” forecasters will talk about their misses. And they all have lots of misses.”
The Irrelevant Investor: Nobody Feels Overpaid “I’m sure on some level that many of these people who said they’re underpaid recognize their good fortune, but it’s hard to “be happy with what you have” just because so many people have less. We can’t help how we feel, that’s not how the universe made us. To be human is to compare ourselves to the humans around us.”
Douglas Boneparth: AUM Is Not For You “AUM also distorts the value we offer clients. Advisors today are finding new and different ways to generate revenue that’s better linked to value.”
Khe Hy: Escaping The “If-When” Trap “And there you have it, the when-then trap. It’s gnarly. And it’s definitely not the exclusive domain of disgruntled deca-millionaires. Countless RadReaders have invested in the promise of the when-then, in the form of promotions, bigger houses, iPad Pros or a luxury vacations. But why does it never deliver?”
Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.