A $2,000,000 Fee?

by Bill Parrott on

In the mid-90's I received a call from a client asking me to invest a lot of money. I asked him how much money, but he was reluctant to answer because of the large sum. He was the sole beneficiary of his uncle's estate. He was delighted but nervous to be in a position to receive a substantial...

There Will be Blood!

by Bill Parrott on

There Will be Blood is a 2007 movie starring Daniel Day-Lewis, based on Upton Sinclair's book Oil! Mr. Sinclair published his book in 1927, and it dealt with the struggles of greed and fear in the early days of the oil industry in Southern California. I am sure that if Mr. Sinclair were writing his...

Do you remember March 24, 1980? I don't. I was 15. I was probably concerned with three things. Was I going to the beach? Were the Dodgers going to win? Where were my friends and I going to eat lunch? I probably went to the beach, the Dodger's undoubtedly won, and I most likely went to McDonald's.

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The United States Postal Service announced they are raising the price of a first-class stamp to 58 cents from 55 cents – and slowing down their delivery times, to boot. In 1975 it was possible to purchase ten stamps for a dollar; today, it will only buy one! The inflation rate for stamps since 1975...

Is It Time To Sell?

by Bill Parrott on

Is it time to sell?  September was a challenging month for the markets as the S&P 500 fell 3.7%, its worst loss since last September. The Dow Jones, NASDAQ, and most asset classes also declined last month.  The fear of the downside is growing, especially if you pay attention to posts, papers, and...

Stocks, Bonds, and Cash

by Bill Parrott on

Stocks

One of the best ways to create generational wealth is to own stocks. Since 1926, stocks have averaged 10% per year and rise three-quarters of the time.  Despite their stellar performance, stocks occasionally fall. As I mentioned, the S&P 500 has increased more than 20% this year, but it...

Financial Planning Goals

by Bill Parrott on
Categories

Jim Collins wrote about Big Hairy Audacious Goals (BHAG) in his best-selling book Built to Last. He describes BHAGs as "clear and compelling, needing little explanation; people get it right away." Goals need to be specific and leave little doubt about what they want to accomplish. I recently...

Creating a budget is about as fun as getting your wisdom teeth pulled. Budgeting is a painful task for most people, and most would instead do anything else besides figuring out where their money is going.  However, to ensure a successful retirement, it's imperative to spend some time reviewing your...

Do You Want To Retire Early?

by Bill Parrott on

Retiring in your forties or fifties to spend time on a beach or in the mountains sounds exciting, but it requires proper planning and financial assets. Of course, financial assets are crucial to a successful retirement, but, more importantly, you need to be emotionally prepared to retire.

Leaving...

Now that restaurants are open and people are vaccinated, I've received several invitations to attend retirement workshops at local restaurants. Recently, I received one for a retirement planning seminar at Flemings Prime Steakhouse to help me eliminate taxes in retirement. Sounds yummy.

The...

An Uncrowded Trade

by Bill Parrott on

My family and I recently returned from a trip to Crested Butte, Colorado. It’s a slice of heaven, and we have visited the little mountain town for years. It was our first family trip since COVID, and we weren’t sure what to expect. What we found were crowds. The airports, restaurants, shops, and...