We have a guide how to prep for doomsday for the super rich, learn about retirement planning uncertainties and laugh at an Inauguration video.
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Lets do a short Sunday post with some material that really caught my attention this past week…
Doomsday Prep for the Super-Rich
You know this is some serious stuff when the byline goes like this: “Some of the wealthiest people in America—in Silicon Valley, New York, and beyond—are getting ready for the crackup of civilization.” Very relevant now with Trump handling the nuke codes and pissing off every country out there! Reading this, all the stuff on survivalism, reminded me of the old Y2k days and the fringe militia nut jobs. But this is different! The founder of Reddit is involved in this, fascinating far out stuff. I guess I won’t get a private bunker. Maybe The Points Guy will and help me out #callmemaybe
The Many Uncertainties of Retirement Planning
This is a great personal finance post. There are so many variables in retirement planning that it is impossible to get it right. Here they are:
- Future financial market returns
- The future path of interest rates
- The severity and timing of bear markets
- The magnitude and timing of bull markets
- The sequence of your returns
- Your personal spending needs
- Your financial needs and desires
- Where you are in your financial lifecycle
- How much longer you plan on working
- What you plan on doing with your money some day
- How long you’ll live after retirement
- Whether you’re going to be a net saver or spender in the near future
- Your current and future income levels
- Your ability, willingness and need to take risk
- How your perception of risk will change over time
- Unexpected life events and challenges
- Withdrawal strategies during retirement
- Future tax rates
- Your future savings rate
- Social security elections and benefits
- Healthcare expenses
- Inflation
- Changes in the cost of living where you live
- Your debt levels
- How many people are dependent on you financially
- Insurance needs
- Your ratio of human to financial capital
The key is to start, implementation baby! No wonder so many people put it off, don’t! Many people think we in the financial advising business are all about the numbers and performance; not true, we are primarily in the behavior modification business! Anyways, here is another excerpt:
The idea that you can create a financial plan and then sit back while all of the pieces slowly fall into place is absurd. The markets and life, in general, are constantly throwing curve balls at you. There’s an old saying that it’s better to be vaguely right than precisely wrong…You make your assumptions. You set your plan. You try to account for as many variables as you can. But then you let go of all of those factors that are completely out of your control. You update your priors as new information comes to light. Eventually, real world results replace your assumptions and you get a better sense of how well reality fits within your initial plans.
Inauguration Day – A Bad Lip Reading of Donald Trump’s Inauguration
The way they make these videos is just brilliantly funny!
Robot beats “I am not a robot” captcha
Bwahahahhahahahahahahahahahahahahahahahhahha
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if it’s Sunday, I might be primero?
Left my wallet in El Segundo
Nice one, Brenton.
I just finished watching the showtime series “Sleeper Cell”. They make several references to that song and Tribe Called Quest.
The third is the word!
Seriously, is Scott Castle ok?
He’s ok with me.
Man I thought for once I would be first and make my presence known. Alas fail.
Being from LA and all…only reason was up was for the match and now go to bed pissed that fed won.
What up TBB
At 7.45 am, seriously? This is no FTG site where they get a comment once in the blue moon you know 🙂
Freezing my ass in Panera, I am so done with this place. Once they started delivering, the place has gone to shit. Stale coffee, crappy music, way too busy and slow….So, it i Starbucks, they open earlier, the coffee may suck but at least it is fresh!
Fed? Federal Reserve played a game? I thought they always win 🙂
Ppl still watch tennis? It’s been a slow death since the peak with Borg and McEnroe.
Oh…yeah. I am not into tennis. It’s like watching the same characters play over and over and over.
Amen to that.
Haha 445am on the west coast. Refreshing 73 degrees here in LA bud, sorry for your suffering 😉
Tennis is still alive and well for all the haters lol. Never gonna miss Federer-Nadal
George, that Iran travel couldn’t have been more timely. Iran banning US citizen now apparently.
Yeah, I feel much better about me going in at the time I did. I used to say “ya never know what can happen after the US elections”….#goodcall
I feel for the other Americans who did not go last year and most of them chose to go in 2017. Not sure if it is going to happen. I think Yomadic will go ahead and not allow Americans join him in Iran tours, just way too much political crap to deal with. And I don’t blame him.
Glad you could travel to Iran but I cant really be a fan of any country where they execute and/or imprison people for being gay.
The people are wonderful.
As they told me numerous times:
America people good
American government bad….and Trump was not even voted in yet!!!!
I am not a “fan”. North Korea on the other hand 🙂
Yah still they wont allow people from Israel into their country. And the punish gay people with execution and imprisonment. Other than that they are swell.
Based on your other comments, you had fooled me into thinking you supported Pence/Trump…oh, wait.
in case you werent sure and the sarcasm wasnt visible for you. Im not in favor of banning people from countries and Im not in favor of jailingexecuting gay people
Your short post reflects the state of “the hobby”: boring as hell.
Can’t churn much. MS is no longer fun and really feels like a job as opposed to a hobby. I am not even considering the shenanigans with shopping portals (see the clawbacks) or the gift cards reselling (which can go wrong in so many ways).
In the meantime, the titans keep pumping and converting.
I’m not whining, just an observation. I’m sitting on a healthy balance of points and miles, although part of it is because some of these are becoming harder to redeem (screw you AA).
I agree, I could have written that…
Wow, you really did make your trip to Iran in the nick of time!
Those doomsday preppers who think Lasik means they won’t need glasses when TSHTF… that’s so cute. I got a chuckle out of that. Nobody tell those Reddit bros what happens to your eyes when you turn 50… let it be a surprise…
I am 40 in less than 4 months, OMG.
I have a magnifying glass next to my desk…and use it more these days 🙂
Funny that at the same time all of the “boring as hell” folks are whining, the rest of us are pulling in $$$$$$ windfalls thanks to AMEX/Sam’s.
Good for you.
You were always “cheery” on your accomplishments, eve since I know you. Probably true if you can drop 1 mil SPG points on an event. And others like to talk about their charitable donations.
Without complete audits by third parties we can say whatever we want on the internet! I haul gazillions of credit card conversions and I am just faking my whining here 🙂
50 AUs=$12.5K profit.
It’s really not that difficult. Can easily to the spending in one night and cash out over a week. I’ve seen receipts from DDF guys who have made out with much more than that.
And yes, I did blow 1MM SPG on the game 7 first pitch and dugout seats.
But the 100K UA spent here is something any dad in this hobby can do: http://www.dansdeals.com/archives/87280
“You were always “cheery” on your accomplishments”.
Yowsa, yowsa.
Dan, lots of people like me never saw that Sam’s Club offer in our accounts. But good for you for cashing out like you did.
You have a SPG business card and AUs without that offer?