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“The Hard Thing About Getting Older Is Everything…”

October 18, 2023 By E.J. Smith - Your Survival Guy

By FrankHH @ Shutterstock.com

You know, investing is a lot like high school, especially when it comes to bonds. When you buy a bond, for example, you’re making an investment at a specific point in time with a set graduation date. If you hang in there, have patience, and don’t get kicked out, you graduate. But nothing’s guaranteed.

Your Survival Guy’s a big believer in the tough love of compounding experiences. Doing the work. Gaining knowledge. Learning the hard way, sometimes, having a little luck by just showing up. And somehow getting by.

That’s a lot of what high school and bond investing are both about.

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Imagine if you didn’t show up. Imagine if you didn’t invest. Never mind if your prices are down, you might not have had any savings to begin with if you weren’t already a hard worker willing to sacrifice today’s indulgences for tomorrow’s security.

When I speak with fairly wealthy, highly successful individuals like you, we talk about how you got to where you are.

Every successful story is the same. You did without. You saved ‘til it hurt. You had some luck. You kept putting one foot in front of the other. And there’s no way you ever want to try to do it again because times are different today.

When you buy a bond, just like going to high school, there’s plenty of anxiety about the future. And about today. And about tomorrow.

I wish I could tell you it gets easier with age, but it doesn’t. As one client told me yesterday, “I was talking with my father, and he said the hard thing about getting old is everything aches, and you can never tell if you’re sick.”

Life is tough. There’s always uncertainty. Predicting tomorrow is an American pastime. It’s amazing how much time is wasted worrying and not acting—taking small steps to improve one’s situation.

Trusting the process. Dedicating oneself to a lifetime of learning, steady improvement, or kaizen, as the late great Edward Johnson III of the Fidelity family would explain in his memos. It’s a journey, not a destination. But not everyone is cut out for the voyage. Like life, some times will be better than others, but never forget the entire body of work and how far you’ve come.

Action Line: Imagine if you never saved a dime because you didn’t like how the market looked. (When does it ever look good enough?) Investing is a leap of faith. The good news? I believe in you. Let’s go.

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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