Links for August 2020

I don't normally watch a ton of YouTube videos, because there are too many time-wasters out there. But this video made a ton of great points about money, capitalism, and time.

    https://www.youtube.com/watch?v=6mRbDEtDoyA

*I'd note that the person who made this video missed one crucial element: risk tolerance. Sure, everything he says makes sense. But it doesn't make sense for just anyone to start a business. And he missed that crucial element.

Remember when everybody was panic-buying toilet paper and paper towels? This analysis provides some insight into why:

    https://www.cnbc.com/2020/03/11/heres-why-people-are-panic-buying-and-stockpiling-toilet-paper.html

ASUS Vivobook 15 - $499

    https://amzn.to/2BEYP68

*A little light on the storage space, but it's pretty powerful for the price, and there are a number of options for extra storage.

 

Laws like this are exceedingly scary for homeowners:

    https://reason.com/2020/07/24/county-wants-answers-from-treasurer-who-seized-mans-home-over-8-tax-bill/

How rich are Americans, by age group? 

    https://froogalstoodent.blogspot.com/2020/08/how-rich-are-americans-by-age-group.html

Hey Americans, interested in what happens to your tax money? You might be surprised where the military ranks in this list...

    https://blog.cheapism.com/where-your-tax-money-really-goes/

A snapshot into the financial picture of "John," someone who retired in 2018 and is looking for income:

    https://seekingalpha.com/article/4340665-retirees-dividend-portfolio-johns-march-update-new-way-to-look-portfolio

Tips to help you retire, regardless of what the economy is doing at the moment:

    https://www.moneytalksnews.com/retire-even-when-the-economy-heads-south/

How much can you withdraw safely after you retire?

    https://jlcollinsnh.com/2012/12/07/stocks-part-xiii-withdrawal-rates-how-much-can-i-spend-anyway/

Steve Adcock and his wife retired early, in their thirties. He offers some advice to help the rest of us retire, as well:

    https://www.cnbc.com/2020/05/31/early-retirement-millionaire-saved-70-percent-of-income-lives-by-basic-money-rules.html

Along similar lines as the above:

    https://www.cnbc.com/2020/03/04/stop-wasting-money-on-these-7-useless-things-and-save-for-early-retirement.html 

For some perspective on the REAL point of having money:

    https://www.cnbc.com/2020/05/07/warren-buffett-son-doesnt-regret-spending-berkshire-stock-he-got-at-19-worth-200-million-now.html?&doc=106539730

This post makes an important point about the power of emotions:

    https://www.bakadesuyo.com/2014/06/how-to-motivate-yourself/

Scared to invest? Don't be. Here's why:

    https://www.listenmoneymatters.com/investing-for-beginners/

The best Vanguard funds:

    https://www.listenmoneymatters.com/best-vanguard-funds/

Be on guard against financial abuse:

    https://partnersinfire.com/finance/financial-abuse/

Entrepreneurship isn't necessarily all it's cracked up to be:

    https://steveadcock.us/entrepreneurship-lies

Possibly the single most succinct summary of the FIRE movement:

    https://jlcollinsnh.com/2012/05/12/stocks-part-vi-portfolio-ideas-to-build-and-keep-your-wealth/

How much money do Americans think it takes to be financially comfortable? And how has COVID-19 changed that?

    https://www.cnbc.com/2020/07/27/how-much-money-americans-say-is-enough-to-be-financially-comfortable.html

How should you invest? Ty of CampF.I.R.E. Finance describes one solid approach—index and chill:

    https://www.campfirefinance.com/index-and-chill/

The $17 Billion Fraud

The $17 Billion Fraud

Almost everybody has heard of Bernie Madoff, the infamous fraudulent "investor" who ran an elaborate Ponzi scheme. You probably have, too; his name was on the lips of a lot of people around 2008-2010, and his scheme was reported often in the news.

http://cdn.cnn.com/cnnnext/dam/assets/140408170959-bernie-madoff-image-story-top.jpg

Madoff's fraudulent investment scheme was supposed to have been worth $65 billion, which makes this the largest fraudulent scheme ever perpetrated by an individual! In reality, however, people actually put roughly $17.5 billion of their own money into the scheme; the other $47.5 billion refers to profits that never actually existed and therefore cannot be recovered. [The taxes people paid on these fictitious profits are, of course, not recoverable either.]

Attorney Irving Picard is trying to recoup the $17 billion that investors put in. ABC News reports that, as of February 2016, he recovered just over $11 billion for investors who lost money. However, that process is inevitably difficult, as Yale accounting professor Dr. Rick Antle explains.

But do you really know what Madoff did?

Should You Invest In Bitcoin?

Should You Invest In Bitcoin?

I've spent a while reading about Bitcoin, blockchain, and the underlying philosophy of cryptocurrencies.

Everybody's got an opinion, so I might as well weigh in and hopefully provide some perspective!

Don't Tread On Me! Why the retirement crisis isn't going away

Don't Tread On Me!

Why the Retirement Crisis Isn't Going Away

A recent article published by The Atlantic left me steaming mad!

http://ralphseverson.com/wp-content/uploads/2014/01/Man-Steaming-Mad.jpg

Here's why:

How Investing Can Make You Rich

Wish you could see the power of money? Wonder how the rich make their money work harder than they do?

Ever felt overwhelmed by some decision, and just picked an option so you didn't have to think about it anymore?  It can be easy to get lost in numbers. And when your head is swimming, you won't make the best decisions! 

It helps to see this kind of junk displayed in a graph. As hard as it can be to imagine how compound interest works, graphs like this can make it easy to understand!