As every investor knows, it’s hard to protect yourself in a volatile market. But what about crazy uncertainty, like when the media tells you that corona virus will shut down the economy for months – or maybe years? What is the best way to plan in a climate of uncertainty?
Asset allocation
Asset allocation means don’t put all your eggs into one basket…. Read more
Strategic thinking isn’t only useful in games, but can help increase your assets. Carefully applying the skills of a chess grandmaster to your finances can yield benefits.
Evaluate your current position
First things grandmasters do is evaluate their position. Look at the entire board before considering your next move…. Read more
One of the most important things you should do before you retire is pay off your mortgage. However, your ability to do so may be affected by how many years it has left.
Generally, if you want to pay off your mortgage faster, you either increase payments so that they finish over a shorter period,… Read more
Sometimes when you invest a dollar, you can gain more. Continuing our three-part series on investing strategies, this column focuses on dollar-cost averaging.
Dollar-cost averaging
Investors use dollar-cost averaging when they own a stock/fund and want to buy more. Followers of this strategy invest a fixed dollar amount at regular intervals to buy additional shares…. Read more
Is “annual return” a good measure of how your investments are doing?
If your investment account is returning average returns, you might be satisfied with your investments. After all, doesn’t that mean “you’re not losing money?”
But while average is fine in some areas of your life, it may not be enough if your investments give you an average rate of return…. Read more
Guest writer, Yosef Goldstein, Bar Mitzva Boy
Does your Abba make you do too many chores? Try this: Not only do I have to do my homework, make my bed, and do Shabbat jobs, but I’ve got to keep track of my money.
You see, in order to get my monthly allowance (which includes my bus fare to school),… Read more
The Wall Street Journal ran a piece recently called, “The Economy Stole My Retirement.” They explained that the dreams of the small business owners who planned on selling their companies to fund their retirements were crushed. The article quoted the statistic that the median selling price for small businesses had dropped 25% from 2008 to $150,000 now…. Read more
Retirement is expensive.
Some experts estimate that you’ll need approximately 70% of your pre-retirement income to maintain your current standard of living after you’ve stopped working. And, if you’re like those retired folks who choose to upgrade their post-retirement lifestyle, it may be even more expensive. Even if you think you’ll live a modest retirement lifestyle,… Read more
While the concept of “effort is more important than the results” may be an important lesson for young children struggling in school or sports to learn, there are times when the final product is important, regardless of how much effort you put in. One of those times is saving for retirement…. Read more
Saving for retirement is all about priorities. Budgeting is a way to redirect your priorities. In fact, retirement planning isn’t as much of a decision “to spend or not to spend” as it is a matter of deciding when to spend. If you spend your money now, you won’t be able to save it,… Read more
