Links for July 2021
Wealthy Accountant for President! His tax plan does make a lot of sense: https://wealthyaccountant.com/2018/09/17/my-tax-plan-if-i-were-president/
Why be frugal? Here's a cogent answer: https://theescapeartist.me/2021/06/09/the-purpose-of-frugality-is-to-get-your-stake-money-together/
I recently ran across a very interesting idea: adjusting your 'net worth' to account for whether the market is overvalued or undervalued: https://www.themoneycommando.com/introducing-the-money-commando-true-wealth-index/
- Counterpoint: Many knowledgeable folks argue that historical P/E ratios are not necessarily going to hold in the future (see https://thereformedbroker.com/2014/01/12/leaving-cape-town/ or, if you prefer a lot of statistics and number-crunching in a podcast format, check out this link: https://rationalreminder.ca/podcast/146)
Worried about the future of Social Security? It's not as bad as you think: https://www.cbpp.org/research/social-security/what-the-2020-trustees-report-shows-about-social-security
Why do so many people feel like they aren't well-off? Morgan Housel tackles that question: https://www.collaborativefund.com/blog/goalpost/
Are you saving too aggressively? In this interview, Gwen of fireymillennials.com concluded that she should ease off the figurative gas pedal a bit: https://apnews.com/article/lifestyle-business-d96513c8c01a24cb80d935335333ce30?fbclid=IwAR1vnGyRHrdPjMIJ28Aj-TtOCBkxVUlavd34cx6TJDO1n4_NfsJWJOBCKdE
Learn more about Herbert Wertheim, billionaire optometrist, inventor, and investor, who had dyslexia and did poorly in school: https://www.forbes.com/sites/maddieberg/2019/02/19/the-greatest-investor-youve-never-heard-of-an-optometrist-who-beat-the-odds-to-become-a-billionaire/
Hat tip to David at filledwithmoney.com for letting me know about this man's inspiring tale!
There's a janitor who became a millionaire! https://filledwithmoney.com/millionaire-janitor/
Investors, prepare to be disappointed: https://theirrelevantinvestor.com/2021/06/26/investors-prepare-to-be-disappointed/
What kind of returns should we expect in the future? Mindfully Investing just saved me a lot of research on this topic: https://www.mindfullyinvesting.com/articles/6-what-to-invest-in/6-2-expected-future-returns-and-risks/
Larry Swedroe advises that we think about investing as probabilities, not certainties: https://www.evidenceinvestor.com/is-it-really-stocks-for-the-long-run/
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