Long-term clients & friends may remember this article which I wrote back during 2007-2009’s Great Recession.
At least to a limited extent, Warren Buffet and I had the same teacher: Benjamin Graham. The other Warren studied under him in grad school at Columbia and I’ve read his most famous book multiple times.
Calculus, as you may remember, makes it possible to compute the area under a curve by imagining a series of narrow rectangles. The secret to the calculation is that if you make the rectangular slices infinitely narrow, each section of the curve can be thought of as a straight line forming the top of a rectangle.
Welcome back to my New Year’s thoughts about financial and life planning.
Last week I discussed insurance but didn’t have enough space to mention long term care.
You probably remember the old story. A child asks his mom why they always trim the end of a ham before putting it in the oven to bake. She replies that she’s not sure and suggests they call grandma from whom she got the recipe.
Our intrepid employees in Washington DC have once again passed a last-minute tax act, part of which is retroactive for the entire year of 2019. Apparently, none of them actually prepare their own tax returns. This law, known as the SECURE Act, is 715 pages long. I haven’t read all of it yet but I doubt if many members of Congress have either.
Year-end is my time for reflection and renewal. Business owners use it to set goals and develop a plan with benchmarks for the next year. I started applying this perspective to my personal life.
The end of last year was hectic, with my knee replacement in November and my mother-in-law’s death at Christmas.
As the year draws to a close it’s tempting to try to predict what 2020 will bring, especially in the markets. Here’s a brief article from the thoughtful people at Dimensional Fund Advisors discussing that very topic.
The year 2019 served up many examples of the unpredictability of markets.
There is no gift that says “I love you” like a lower tax bill in April. Between all the holiday parties and batches of eggnog, there are some financial tasks to check off your list before Dec. 31. In addition to a gift of time, it is probably one of the more important gifts to give.
◗ Contributions to Indiana 529 plans.