Advance Capital Management’s president and chief investment officer, Christopher Kostiz, provides his key economic and market insights from the most recent quarter.
As we enter 2020, we would like to start off the new year by expressing our gratitude to everyone who has enjoyed Advance Capital’s Financial Living Blog. It was one of our best years yet, with well over 100,000 readers. Without the support of readers like you, none of this would be possible.
The happiness we feel about our money, work, relationships, life in general, isn’t derived by only what happens, but also how we perceive what happens.
How significant are a few additional steps?
For an elite marathoner, a few inspired steps can be the difference between a respectable time and a first-place medal. For a politician, a few more hands to shake and babies to kiss can be the difference between elected official and also-ran. For an architect, a few more feet can be the difference between tall and tallest in the world.
That is the sufficient quantity of disaster supplies the Department of Homeland Security recommends having on hand in case of an emergency. After an emergency occurs, it could be hours or even days for first responders to reach you.
Fortunately, in most cases, such as hurricanes and blizzards, people are given some forewarning of what’s coming and when. You have time to prepare. But what if you are in the middle of potential trouble and don’t know it yet?
On the Richter scale of financial fears, most people would put a recession near or at the top. From job loss to market downturn, the potential magnitude of financial dangers can be severe. But just how fearful should investors be of the next recession? The fact is recessions are a normal feature of the business cycle.
In The Hard Thing About Hard Things, successful Silicon Valley entrepreneur and respected thinker Ben Horowitz writes:
“Hard things are hard because there are no easy answers or recipes. They are hard because your emotions are at odds with your logic.”
If there is one thing you can expect during a presidential campaign it is a whole lot of broken promises. In 2008, historian Joseph Ellis analyzed 200 years of political promises and found only two presidents – George Washington and James Polk – kept their campaign pledges. If history is any indication, voters can only hope their preferred candidate’s actions in office, at best, come close to what was promised on the campaign trail.
Everyone’s experience in retirement is unique. But there are some characterizations we can draw from data collected in various surveys and studies of retirees. Put together they form the nine types of people you’ll encounter throughout your later years. Some offer attributes you may want to adopt and others those you are best to avoid. They all, however, can provide lessons on how to live a fulfilling retirement.