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Are You Getting Your Financial Plan in Order?

December 10, 2024 By E.J. Smith - Your Survival Guy

By Visual Odyssey @ Adobe Stock

Are you getting your financial plan in order? Between the holiday shopping and the crazy world we live in, who has time to think about investing? If you’re paying attention, you know about the cash hoarding by Warren Buffett. He’s sitting on a pile of Treasurys. Goldman Sachs predicts a three percent annual return over the next ten years. If you look at the yield curve, you can see why Buffett is licking his chops.

But what does this have to do with you? We all know we need to keep our eyes on our own work and pay no attention to those “making” money faster than you.

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As the late great Charlie Munger said, “Here’s one truth that perhaps your typical investment counselor would disagree with: If you’re comfortably rich and someone else is getting richer faster than you by, for example, investing in risky stocks, so what?! Someone will always be getting richer faster than you. This is not a tragedy… Envy is a really stupid sin because it’s the only one you could never possibly have any fun at. There’s a lot of pain and no fun. Why would you want to get on that trolley?”

Your job is to invest so you can sleep well at night. Only you know what that means. Do you have the right mix of fixed income? Remember, when times get tough, it’s a matter of return of assets, not necessarily return on assets.

Action Line: When you’re ready to talk, let’s talk. Focus on your retirement life and not what the other kids are doing. Email me at ejsmith@yoursurvivalguy.com

Originally posted on Your Survival Guy.

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E.J. Smith - Your Survival Guy
E.J. Smith - Your Survival Guy
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998.

E.J. has trained at Sig Sauer Academy in Epping, NH, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.

E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris.

Please get in touch with E.J. at ejsmith@yoursurvivalguy.com

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E.J. Smith - Your Survival Guy
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