The Rise After the Fall
.The Rise After the Fall
May 16, 2022 by Ted Lamade
Guest post by Ted Lamade, Managing Director at The Carnegie Institution for Science
Two weeks ago, I was scheduled to attend an annual meeting in Chicago. I caught an early morning flight into O’Hare and arrived at my hotel on Michigan Avenue shortly before noon. Knowing I had a few hours to kill before my first meeting, I decided to walk around the city to see how much it had (or had not) emerged from the Covid-19 lockdowns.
As I walked along the city’s Riverwalk, I shielded myself from the wind on a day that was unseasonably cold, even for the spring in The Windy City. Dodging people along Wacker Drive, I noticed a bookstore around the corner from The Wrigley Building. In order to warm up, but also in an effort to embrace Barton Biggs’ bookstore philosophy, I ducked into the store (Biggs’ bookstore philosophy was simply that whenever he traveled to a new city as Morgan Stanley chief investment strategist, he would visit bookstores due to his belief that which books were selling and how they were positioned on the shelves provided a good indicator of a city’s or country’s current mood/sentiment).
Quiet Wealth: An Asset Protection Strategy
.Quiet Wealth: An Asset Protection Strategy
Time is Money: An Asset Protection Strategy
Diversified Investments
I’ve never worn a watch. I flatter myself that’s because of a high school Latin teacher/lacrosse coach named Thurber who, when asked why he didn’t, responded that “a man who wears a watch worries too much about time.”
That quote has always stuck with me. Its philosophical brevity is almost Hellenic.
My real reason for going watch-less is simpler, however. I have a hard enough time keeping track of my keys, wallet, eyeglasses and anything else I need during my daily journey to worry about a watch as well.
5 Important Lessons From Squirrels For A Better Life
.·5 Important Lessons From Squirrels For A Better Life
Raymond Marlborough Sep 15, 2021
Love them or loathe them, these furry acrobats have lessons to teach.
Squirrels divide opinion, you either love their acrobatics and furry antics or are tearing your hair out as they evade your latest defenses to devour all the seed that you have left out for the birds.
While I was living in England our house backed onto a wood which had a lively squirrel population in addition to birds of all types, foxes and even deer on occasion. My wife and I got to observe squirrel behavior up close and were also trying and failing mostly in stopping them getting to the seeds that we left out for the birds.
Brain Meets Money
.Brain Meets Money
Richard Quinn February 20, 2020
HOW OFTEN DO you think about money? Hey, you just did. Seriously, we think about money every day and sometimes every hour. Some studies say we ponder financial matters even more often than the old standby: sex.
We’ve been thinking about the stuff for a long time. Money goes back about 3,000 years. Paper currency can be traced to China in 700 BC. They didn’t fool around: Their currency stated that all counterfeiters would be decapitated. I’m guessing counterfeiting was rare.
Today, it costs two cents to manufacture a penny and almost eight cents to make a nickel. Result? Each year, we taxpayers lose about $85.4 million on the production of pennies and $33.5 million on nickels.
This Is How Much Money Americans Think They Need To Be Considered Wealthy
.This Is How Much Money Americans Think They Need To Be Considered Wealthy
Alicia Adamczyk Wed, May 18, 2022
an you put a dollar amount on what it means to be wealthy in the U.S.? An annual survey asks Americans to do just that, and this year, $2.2 million is the magic number.
That's according to the annual Modern Wealth Survey from Charles Schwab, which also finds people believe that an average net worth of $774,000 is what it takes to be financially comfortable.
Decades-Old Investment Wisdom From Albert Einstein
.Decades-Old Investment Wisdom From Albert Einstein
Notes From The Field By Simon Black
March 3, 2020 Bahia Beach, Puerto Rico
Albert Einstein is rumored to have said that “Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”
These days interest rates are near zero. The average savings account currently pays .09% interest per year, according to the FDIC. So over the course of a decade, saving $100 with compound interest would give you a grand total of $109.37.
But at the same time, the opposite force is working against us. Inflation currently stands around 2.5%. And that compounds too. What $100 can buy now will cost $102.50 next year. After ten years, assuming inflation stays the same, it will cost $128. So just by saving $100 for ten years, you’ve lost $18.63 of real value.
Where Do Millionaires Keep Their Money?
.Where Do Millionaires Keep Their Money?
Rosemary Carlson Sat, May 14, 2022
Where do millionaires keep their money? High net worth individuals put money into different classifications of financial and real assets, including stocks, mutual funds, retirement accounts and real estate. Most of the 20.27 million millionaires in the U.S. did not inherit their money; only about 20% inherited their money. More than two-thirds of all millionaires are entrepreneurs. Here are some of the places the genuinely rich keep their money.
Whether you're a millionaire or not, a financial advisor can help you take significant steps toward achieving your goals.
12 Money Rules You Need To Live By
.12 Money Rules You Need To Live By
Have you ever thought of putting rules on your money? It is a pretty interesting concept.
We tend to have rules for every other area of our life…how much to eat, how much we should watch TV, limiting the amount of social media, amount of time to brush our teeth, etc. Then, that love hate relationship comes up with rules. We love rules because they provide structure and guidance when we need it the most.
We hate rules because rules are meant to be broken. The golden rules are the ones that should be so ingrained in our lives that we don’t think differently.
Do you have a list of money rules? Maybe a few in your head? But, probably not on an actual list.
The bottom line is having a list of money rules to live by will life changing and make things easier.
13 Top Tips To Prevent Identity Theft
.13 Top Tips To Prevent Identity Theft
Protecting your sensitive personal information from thieves is getting harder than ever, thanks to a combination of the growth and sophistication of organized crime, and the lack of initiative on the part of banks and legislators to do anything meaningful to combat it.
Ways To Beat Identity Theft
What follows is a list of the most basic things you can do to prevent your identity from being stolen. While some of them are pretty obvious, its best to take nothing for granted:
24 Home Security Tips
.24 Home Security Tips
With perhaps the exception of fire, home burglary is the biggest threat to our safety at home. Depending on where you live, government statistics show that a home burglary occurs every few seconds. While the exact number obviously varies, best estimates in the USA have burglaries occurring every 8 seconds.
Unlike the stereotypical burglar we see in the media and movies, most home burglaries actually occur weekdays during work hours. This is for the simple and obvious reason that the burglar chooses the path of least possible resistance, and this includes picking a time when they are least likely to run into the homeowner.
Even the Smartest Man In the World Was A Terrible Central Banker
.Even the Smartest Man In the World Was A Terrible Central Banker
Notes From The Field By Simon Black May 9, 2022
By the early Spring of 1696, England was on the brink of a major currency crisis that had been building for decades. This was back in an era where English money was primarily silver; more than 1,000 years ago, in fact, Britain’s pound sterling was originally struck by Anglo-Saxon kings in the British Isles as one “Tower pound” of sterling silver.
(The ‘Tower pound’ was a medieval unit of measurement roughly equivalent to 0.75 modern pounds.) But over time, of course, English kings heavily debased their coins and reduced the silver content; by the mid-1600s, the pound only contained about 1/3 its original silver content.