The inspiration for today’s missive comes from Nick Murray’s incomparable industry newsletter. Last month, the Wall Street Journal’s Luxury Homes Section ran an interesting article: “Groucho Marx’s Onetime Long Island Home Hits the Market for $2.3 Million” The star paid $27,000 for the property in Great Neck on New York’s Long Island, in 1926. He lived there until 1931. Marx, previously a city dweller, had difficulty adjusting to the suburbs. He said, “I am becoming well versed in the four topics of conversation, which are of paramount importance in a small community, i.e., domestic help, golf, bridge, and the trappings of mice.” Sounds kind of …
The Road to ‘Average is Bumpy.
After two posts about spending, specifically spending for joy, I’m back to my regularly scheduled programming: Save, Invest, Repeat. Today, we talk about stock market ‘averages’. Stocks, also known as equities, are the growth engines of investment portfolios. The S&P 500 is a group of stocks from the 500 largest publicly traded companies in the United States. It includes companies you’ve surely heard of such as Apple, Amazon, Tesla, and Berkshire Hathaway (aka Warren Buffett). It also includes companies you’ve likely never heard of such as Cummins, Inc. a company that makes “diesel, natural gas, electric and hybrid powertrains and powertrain-related components” …
Spending for Joy: The Poll Results
In last month’s newsletter, I took a break from my usual “Save, invest, repeat” mantra to talk about spending. In particular, spending for joy. I asked for reader responses to the question “What did you spend money on in the last year that brought you joy?” And wow, I was surprised and delighted by the number of responses. For some, it was a tough question. One reader said “Joy, what is that?” Another said the question “stopped me in my tracks”. One very common answer was travel: Another common answer was gifts to others: Other responses: One of the most surprising answers: My favorite answer: And lastly, an interesting take and word of …
Spending for Joy: A Poll
If you are a regular reader, you know I talk a lot about saving money. A lot! “Save, invest, repeat, save, invest, repeat” is one of my mantras. It is also the key to reaching financial independence. Another of my mantras is “Capture those dollars”, so much so that clients KNOW what I’m going to say when they share news such as getting a raise. One client recently emailed: “You make me laugh with your wonderful enthusiasm about all things savings.” But I came across two items recently that made me wonder if I should talk a bit more about spending. The first was a post from Mike Piper, one of my favorite bloggers, reviewing the book “My Money Journey, How 30 …
Do You Know How Much Your Employer-Provided Health Insurance Actually Costs?
So yes, it’s true that COBRA is expensive…. because your insurance is expensive. Recently, I was talking with a friend who is planning to leave the workforce and take some time off before looking for a new job. I asked what she would do for health insurance and mentioned COBRA. Her immediate response was “Oh, no, COBRA is expensive”. * It is true, COBRA is expensive, because her health insurance is expensive!* What is COBRA? The acronym comes from the Consolidated Omnibus Budget Reconciliation Act. COBRA gives employees the right to continue their job’s group health insurance in certain circumstances such as voluntary or involuntary job loss. …
