In our last article, we talked about what money can buy, and we gave you some pretty silly ideas about how to blow your cash. This week, I’d like to talk to you about the more philosophical side of what you’d like your money to do for you.
In the words of country star Chris Janson, “I know everybody says money can’t buy happiness. But it could buy me a boat. It could buy me a truck to pull it. It could buy me a Yeti 110 iced down with some silver bullets.” This summer, we’re going to spend a little time exploring the topic of money, specifically what exactly it can and can’t buy.
In speaking with many of you recently, you’ve been telling me, “Hey Dave, it’s summer. I don’t have time to read your thoughts every week.” That’s cool, I understand. For those of you feeling pressed for time, click here for the executive summary of this week’s Thought from Dave.
Ask anybody who is just starting to save for retirement what their strategy is, and you’ll probably hear something simple such as, I’m putting 10 percent into my 401(k) and shopping less. This “Google search” approach to retirement isn’t hard to follow – provided you have discipline with your money. But if you take a hard look at the lifestyles and spending habits of people in their 20s just starting their careers, very few of them actually do this – regardless of what they say.
It seems like everyone is confused these days. Each client and prospect we talk to is backing a different camp, and many have expressed their outlook not just on what will happen in November, but in June as well. And no, I’m not talking about politics. I’m talking about our stock market.
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