As we approach Independence Day, I pondered what it means to be financially independent. Warren Buffett and Charlie Munger are still working; are they financially independent? What about Whitney Wolfe Herd or Robert Johnson or Jeff Bezos? If billionaires are still working, does it mean we need...
Do you know Theodore Johnson? He worked for UPS and never earned more than $14,000 per year, but he was worth more than $70 million when he passed! He invested consistently in UPS stock and rarely sold. In addition to his UPS stock, he retired in 1952 with $700,000 in savings.[1] He put all his...
The market dropped last week because the Federal Reserve hinted they may raise interest rates in 2023, two years from now. The Dow Jones fell about 3% as the topic of rising interest rates covered the airwaves. The Federal Reserve also published their dot plot chart, a chart of where their members...
My family donates money through tithes and offerings, so I incorporated the practice into my business model when I started my investment firm. Giving is not a budget item because contributions come from the top - 10% of our firm revenue. At the end of each quarter, my wife and I sit down to pray...
The Wall Street Journal recently published a good article about rebalancing your investment portfolio. (Portfolio Rebalancing Is A Good Retirement Habit, June 4, 2021). Rebalancing is a simple yet powerful strategy for managing your accounts, whether you're retired or not. Additionally, it's a risk...
I recently returned from a fly-fishing trip with a few mighty men. It was a quick trip – one day, to be exact. We fished on private water in Colorado, and it was an epic day. We caught several fish in a pristine river under bright blue skies.
As the day progressed, we adjusted our flies under...
Meme stocks are soaring to the moon as diamond hand traders place concentrated bets on a handful of companies. Meme traders scour the internet looking for stocks to buy and promote to more traders. The meme stocks are rising because, well, they're rising.
My wife asked me what a meme stock was...
I loved Brewster's Millions starring Richard Pryor and John Candy. Richard Pryor's character had to spend $30 million in thirty days to inherit $300 million. A nice problem to have, I guess.
Estate planning is vital, especially if you want to efficiently pass your assets to the next generation...
Berkshire Hathaway held their annual shareholder's meeting in Los Angeles on Saturday led by Warren Buffett and Charlie Munger. The two held court on everything from Bitcoin to taxes. At one point, Mr. Buffett mentioned the twenty largest companies in the world by market capitalization. The list...
Bill and Melinda Gates shocked the world by announcing their divorce after twenty-seven years of marriage. Likewise, Jeff Bezos and his ex-wife, MacKenzie Scott, divorced two years ago after a quarter of a century of marital bliss. Collectively, these four are worth $380 billion, so it's true, money...
I'm addicted to stocks. They're shiny objects to me, and I want to own them all. I'm not impressed with cars or material things, but show me a portfolio of stocks, and I get excited.
I run several stock screens daily, looking for the next market mover, hoping to find a company that can rise 10x...