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 Personal Money Planning'se-Newsletter for June 13, 2009 (to look at past issues, click here) |
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Predictions |
Over several issues, I'm repeating a list of quotes that I got from Ron Blue's book, Splitting Heirs. They show the danger of making predictions.
Computers in the future may weigh no more than 1.5 tons.
Popular Mechanics, forecasting the relentless march of science, 1949
We don't like their sound, and guitar music is on the way out.
Decca Recording Co. rejecting the Beatles, 1962
Everything that can be invented has been invented.
Charles H. Duell, Commissioner, U.S. Office of Patents, 1899
I think there is a world market for maybe five computers.
Thomas Watson, chairman of IBM, 1943
This 'telephone' has too many shortcomings to be seriously considered as a means of communication. The device is inherently of no value to us.
Western Union internal memo, 1876
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Disclosure |
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This newsletter is produced by Gary Silverman, dba Personal Money Planning, a registered investment advisor located in Wichita Falls, Texas.
Information in this newsletter is believed to provide accurate and authoritative information in regards to the subject matter covered. However, the accuracy, timeliness, or applicability of the information is not guaranteed and is provided with the understanding that we are not rendering legal, accounting, tax, or other professional advice or services.
This publication should not be construed by any consumer and/or prospective client as Personal Money Planning's solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Nor should links provided to other sites be construed as the recommendation of the services or products mentioned on those sites. If such services are required, the help of a competent professional should be sought.
Remember that past performance may not be indicative of future results. Therefore, you should not assume that the future performance of any specific investment, investment strategy, or product made reference to (directly or indirectly) on this Website will be profitable or equal to indicated performance levels. Different types of investment involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for your investment portfolio.
Historical performance results for investment indexes and categories generally do not reflect the deduction of transaction or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results.
A copy of Personal Money Planning's current written disclosure statement discussing Personal Money Planning's business operations, services, and fees (known as an ADV Part II) is available from Personal Money Planning upon written request (and can be downloaded from our web site).
Personal Money Planning does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Personal Money Planning's web site or incorporated herein, and takes no responsibility therefore. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.
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I was in Vegas last week. I had a great time and worked an average of 12+ hours each day, though I'm guessing you're not feeling sorry for me.
A lot of people think the Vegas is sinful. I don't agree. I rather look at it as tempting. The choices we make can then lead to sin. It can also define us.
You can avoid alcohol, have a glass of wine (like me), or get totally wasted. You can avoid gambling (like me), play a game of poker (like I do during better economic times), or lose your car to the crap tables.
Choices. We make them every day. We just have more opportunities to choose from in Vegas.
Gary
Gary Silverman, CFP |
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How Much Do You Need To Save? |
How much do you need to save in order to retire comfortably? Most large mutual fund web sites have calculators to help you with this, but I wanted to let you know about a really nifty one I found recently. The Choose to Save national public education and outreach program is dedicated to raising awareness about the need to plan and save for your retirement. Developed by the Employee Benefit Research Institute, it includes information on how to figure out what you need to save. On their website, www.ChooseToSave.org you'll find "Ballpark E$timate®".
You'll need to make some data entries. You get to do this as many times as you like, so you can play around with it. If you want my ideas, click through to the full article here. But don't forget: you'll need to take into consideration that you are unique and need to customize the information to your particular situation.
(This article was originally printed in the Wichita Falls Times Record News.)
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Money & Mobility in the Military |
A life in the military means a life of change-including changes in duty stations and deployments around the world. This life of moves can be a positive experience and can provide unique opportunities for a broadening of perspectives as well as career and personal enrichment. Deployments, too, can be positive. Many service members view deployment as a meaningful way to fulfill their duty to the nation.
However, as we all know, changing stations and deployment also bring a lot of challenges to the military family, not the least of which involve money issues.
To help service members and their family financially prepare for moves or deployments, the National Endowment for Financial Education® (NEFE®), the FINRA Investor Education Foundation, and the National Military Family Association have joined forces to create Money and Mobility: For Military Personnel and Families.
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parting thoughts
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The Federal Reserve has a defined benefit pension plan. According to the Wall Street Journal, as of the start of the year, 66% of its assets were allocated to stocks.
It's nice to know that they have the same vested interest in getting all this right that we do.
That's all for this week.
Gary
Gary Silverman, CFP
Personal Money Planning
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©2008 Personal Money Planning. All rights are reserved by Personal Money Planning and content may not be reproduced, disseminated, or transferred in any form or by any means, except with the prior written permission of Personal Money Planning unless specifically noted. (Permission is not difficult to obtain.) The one exception is for downloading and printing information this newsletter for general education by the original recipient. |
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