My article debating what income level is safe in retirement got a mention in the Findependence Hub’s Weekly Wrap. It’s important to be realistic about both portfolio returns and the effect of costs.
Here are my posts for this week:
Where are the Customers’ Yachts?
Here are some short takes and some weekend reading:
Helaine Olen at Slate.com explains why financial literacy can’t work and we need better consumer protection in financial services. The way I see it, we should focus on consumer protection at the macro scale of governments and laws. It still makes sense for parents to try to teach their children financial skills, and it makes sense for adults to try to educate themselves. But financial literacy programs can never be an effective substitute for consumer protection laws. Few of us can defend ourselves against predatory practices disclosed in deliberately confusing contracts.
Dave Liggat describes how to use a Google spreadsheet track your investments in various accounts as a single portfolio and calculate the deviation from your target allocation. This is very similar to the way I track my own portfolio. Over time I’ve added calculations to decide when it makes sense to rebalance and send me an email alerting me to do so.
Preet Banerjee has a video showing that renting a home isn’t necessarily a waste of money. Renting can certainly make sense as long as you actually save and invest the extra money you would have spent on a mortgage and home maintenance.
Million Dollar Journey suggests two ETF-based index portfolios and explains which portfolio is best for each of the major discount brokerages.
Big Cajun Man says some important things you can do for your retirement are to exercise and quit smoking to improve the odds you’ll be alive to enjoy your retirement.
Boomer and Echo expain how to get access to money in a locked-in retirement account due to financial hardship.
My Own Advisor has some advice for an investor just starting out.