The first weekend in May each year the shareholders of Berkshire Hathaway make a pilgrimage to Omaha, Nebraska. This annual rite is as much to pay homage to Warren Buffett and Charlie Munger, Chairman and Vice-Chairman, as it is a shareholder meeting. This week’s articles shine a light on the habits that helped Buffett and
Today I consider myself one of the luckiest men alive. Birthdays and anniversaries are occasions for reflection—today is my birthday, and it’s also time to complete the Annual Minutes for the corporation. The satisfaction of working as an independent advisor has been more than I could imagine when I threw caution to the wind and
Speculation about Peyton Manning’s retirement from the NFL is this week’s inspiration. We share a few thoughts on preparing for an early retirement. Live below your means. One rule of thumb holds that you need to save 25 times your annual budget by retirement. Generating a nest egg of that size involves years of frugality
In 2016, take a page from the Redskins’ playbook and try to sock as much money away as you can. You never know what’s going to happen. Then alternatively, think seriously about spending for play. You may just find yourself having more fun and spending less money as a result. Finally, think about the market
A widow with an estate in excess of $3 million sought our assistance to organize and simplify her affairs. Her financial assets, spread among more than fifty individual stocks and concentrated in just a few, needed diversification to reduce risk. She was charitably inclined. We suggested she consider establishing a charitable remainder trust to defer
The keys to reaching financial independence are simple at their core, but not easy to attain. A few of the keys are: invest in your earning power; avoid lifestyle creep; get the big expenses right; and avoid major mistakes. This week we present personal stories of the retirement planning habits of some noted retirement specialists,
We talk to a lot of people about their aspirations and what they consider a secure nest egg. What is “enough” for one is inadequate for another. The differing perceptions of “enough” remind me of the lyrics to a Sheryl Crow song: It’s not [about] having what you want; it’s [about] wanting what you’ve got.
Death and taxes are said to be the only certainties in life. This week, because of all the serious illnesses and loss of clients, their loved ones and friends over the past year or so, we highlight a few things on measuring what really counts in the end. How Will You Measure Your Life? The
Intriguing subject matter relating to retirement was the topic of several sessions at the AICPA Advanced Personal Financial Planning Conference held January 19-21, 2015. This week we share some of the conference’s golden nuggets and more. Retiring in a Low-Return Environment. Investment returns and retirement spending have been based on information drawn from the past.