Things definitely are not boring in our financial system. Interest rates continue to rise. Cracks in the foundation of our debt stressed financial system are being exposed. Markets remain volatile.
How do you feel? Have you planned well for this? If not, what do you need to do differently going forward?
In times like this, it’s important to get back to basics and reinforce what is truly important. I have a selection of excellent resources that will help you do so.
What Really Matters?
J.L. Collins is the master of finding simplicity in the complex. He elegantly writes Things Important, and Unimportant.
Anna N’Jie-Konte concisely summarizes important lessons related to SVB & Risk Management.
Adam Grossman thinks some aspects of the markets are Defying Logic. He offers important insights to help you navigate them.
Harry Sit explains despite having No FDIC Insurance – Why A Brokerage Account Is Safe.
How We Got Here
Last week I tried to provide you with a few actionable lessons from the banking crisis to apply to your personal risk management decisions. In the comments a few readers recommended the recent Frontline episode The Age of Easy Money.
I watched it and agree it is worth sharing. It provides a sobering look at how we got here and the Federal Reserve’s ever growing role in the markets we all invest in.
End Of Life Care
Paula Span wrote about an important and under discussed issue: Aggressive Medical Care Remains Common at Life’s End. Navigating this situation right now in my family, I think Span did a fabulous job of presenting this with the seriousness, nuance, and thoughtfulness it deserves.
Two big points hit home for me that I want to highlight for readers.
- “Even having an advance directive and a Physician Order for Life-Sustaining Treatment, or P.O.L.S.T., doesn’t always ward off aggressive treatment.”
- While our medical system has flawed incentives, few doctor’s are likely to be providing unnecessary treatment strictly with a profit motive. Rather, most medical professionals enter the field to help people, and they may suffer from “optimism bias.” This causes them to continue to try everything even when it makes little sense to keep doing so. Regardless of the motivation, the result is the same: massive expenses for treatments we often don’t even want that increase life span but don’t improve quality of life.
More Retirement Income Research
David Blanchett follows up on an article I shared recently with More Realistic Retirement Income Projections Require Dynamic Adjustments.
Spreading the FIRE
I’ve written about how F.I.R.E. principles can help people who are behind on retirement savings catch up. In fact, late savers have multiple advantages that actually make it easier for them than younger people usually associated with F.I.R.E.
If that idea resonates with you, and you are looking for ongoing encouragement, ideas, and support from others like you, Bill Yount and Becky Heptig recently launched the Catching Up to FI podcast.
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[Chris Mamula used principles of traditional retirement planning, combined with creative lifestyle design, to retire from a career as a physical therapist at age 41. After poor experiences with the financial industry early in his professional life, he educated himself on investing and tax planning. After achieving financial independence, Chris began writing about wealth building, DIY investing, financial planning, early retirement, and lifestyle design at Can I Retire Yet? He is also the primary author of the book Choose FI: Your Blueprint to Financial Independence. Chris also does financial planning with individuals and couples at Abundo Wealth, a low-cost, advice-only financial planning firm with the mission of making quality financial advice available to populations for whom it was previously inaccessible. Chris has been featured on MarketWatch, Morningstar, U.S. News & World Report, and Business Insider. He has spoken at events including the Bogleheads and the American Institute of Certified Public Accountants annual conferences. Blog inquiries can be sent to firstname.lastname@example.org. Financial planning inquiries can be sent to email@example.com]
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