Everybody is trying to get an edge on the market and predict what it will do leading up to and after the election in November. Like many advisers, I’m getting questions from clients like this: “What does the upcoming election mean for my portfolio? What happens if the Democrats win? Are my taxes going up?
If we see each other in late December, you might want to wish me a happy birthday but today’s message is meant for ‘the other Warren’ in the investment world, Warren Buffett. He turned 90 a couple of weeks ago.
Last week I wrote about the idea that a bubble might be forming in the stock market. This week I’d like to delve into some of the reasons I’m concerned.
The retirement savings crisis has been growing for several years. The COVID19 pandemic is accelerating the impact.
One factor is increased unemployment and involuntary retirement among older households.
Flags, affinity license plates, garments with team logos. There are lots of ways to use a symbol as an abbreviation for a full name. Investors use what are known as ticker symbols when buying and selling stocks. These date back to the ticker tape machine, an improvement on the telegraph.
My business group uses July to take a midyear checkup. We look at our budgets, planned projects and keep one another accountable. 2020 has not been the year anyone expected.
Today’s title is generally attributed to Mort Sahl, America’s first widely televised stand-up comedian. He was well known for his commentaries on the times but before he became famous, he did, in fact, wash and sell cars for a living. The phrase came to mind recently when I saw actor Tom Selleck promoting reverse mortgages on TV.
It has been an interesting few months.
I struggled through the early parts of the pandemic with a sense of isolation and the disruption of everyday life. The past month, I have been reading “Atomic Habits” by James Clear and attending webinars on behavioral finance and practice management.
The common theme was mindset.
My great aunt Irma was quite well off, living in a small grove in Orange, California next door to entertainer José Feliciano. We visited her every few years and she took us to nice restaurants, always picking up the tab. As I got older, I was more a part of the adult conversations going on during those visits.