- Buy or lease?
- If buying, buy for cash or take out a car loan?
- New or used? (I nearly always suggest used, a.k.a. “certified pre-owned”. Remember the book, The Millionaire Next Door?)
- If buying, how often to replace?
- If leasing* or taking out a car loan, what is a sensible payment amount? With a lease, buy at the end of the lease?
- For younger people perhaps living in or near a city, is it possible to not even own a car? And take advantage of excellent (cheaper) alternatives as needed such as renting a car, Uber, or Zipcar?
What a week for people named Warren and Trump. Did you catch the Oscars Best Picture mix-up with Warren Beatty?? The bottom line for me was: when you are unsure whether you understand something important, ask.
As for people named Warren Buffett this week yielded yet another annual letter of wisdom and perspective from the “Oracle of Omaha”. Striking was that Mr. Buffett’s letter reflected several similar sentiments (some not) to those expressed by Mr. Trump in his Presidential address to Congress on Tuesday evening. Another week in America. Not always perfect but still good–even great. Continue reading “Warren Buffett Letter 2017”
Grandma moving in?? Traveling to help mom and dad from time to time? Sharing tasks with your siblings to help out your parents?
“Caring for Aging Parents” is an emotional and involved topic that takes FAR longer than 2 minutes to cover. However, it is a critical topic and one that comes up daily in my conversations with friends and clients. Think about it: how many times have you been part of this conversation in the past several months alone… among friends/family?? I bet more than once!
Money and Therapy. Two things that people may love or hate talking and thinking about. However, among other things in life, money and therapy help.
Here is where I am going with this. Recently I read a must-read book for young and old, wealthy or building wealth, married or single. Anyone who wants to have a “life” someday…or even have a life NOW. The book is called The Number* and was written by Lee Eisenberg nearly 10 years ago, but it reads like he wrote it yesterday.
Here are some of the titles of the chapters:
- “Welcome to Numberland”
- “Debt Warp”
- “Alone at Sea”
- “Covering Your Assets” (nice play on words)
- “Night Sweats”
- “Deep Breathing”
- “Bottom Lines”
In times of stock market weakness – like we are seeing over the past month – we can tend to get scared. We are human. However, I stress to my clients and friends NOT to allow short-term market moves (monthly, quarterly…even yearly) to lead to poor decisions. Why? Please read on…
The following chart reads like a cartoon so not to worry that I am sending you a complicated graph. The RED DOTS = how much the market went down sometime during each year. The BLUE LINES = where the market finished at the end of the year.
Have you asked yourself lately…
- “Is this the ‘Big Dip’ in the markets they have warned about?”
- “Should I be selling my stocks?”
- “Should I be selling my bonds?”
Although I stress to clients and friends NOT to listen to the Talking Heads on TV, radio & internet—and then make rash investment decisions – when these media personalities comment on dramatic market moves (they LOVE down markets for hype), we are human! It is nearly impossible to ignore completely what is going on daily in the markets. And the stock markets have crept down a bit over the past few weeks. Continue reading “Gut Check in Rocky Markets”