Blogs:
- "Final advice." Link here.
- A starter kit for new investors. Link here.
- Best cash management options. Link here.
Books:
Inflation -- In This Economy? Kyla Scanon, c. 2024.
A Lifetime Of Investing
Lessons Learned:
- parents
- grandparents
- professors
Grandparents Advice:
- don't let material possessions "own" you.
- housing: don't live beyond your means
- if possible, live in a state with no income tax
- begin investing early
- never invest using the 60 - 40 rule
- never invest using the lifecycle method if likely to be financially independent by age 57
- diversification does not simply mean diversifying equity investment
- diversification
- insurance
- active income
- pension
- IRAs
- 401(k)
- etc
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Discount Brokerage Account
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Age: 18 - 26
Before First Job
Advice:
- enjoy life
- foster friendships
- watch for and take advantage of unexpected opportunities
- travel
- learn to cook
- spend wisely but don't live a miserly life
- set up a personal finance plan
- concentrate on spending skills, not investing skills
- investment account needs to have been set up by now
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Age 27 - 35
First job
Advice:
- big change
- concentrate on investing, not spending
- annual strategic plan review
- this doesn't mean "not living life" --it just means that it's time to start investing seriously
- make sure you are maximizing company's benefits
- children? plan for college expenses
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Age 36 - 45
Peak earning years
Peak family involvement
children?
- plan for college expenses
- sports
- extracurricular activities
- annual strategic plan review
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