Rule #1 Finance Blog
With Investor Phil Town
Investing your money generates more money by earning interest on what you put away. When you take the time to learn investing basics, there is less risk involved. You learn to choose stocks that will generate more money for you in the future.
Bottom line: the best way to make money without working for the rest of your life is to invest.
However, people often see annuities, a sum of money invested to produce a monthly income for a fixed period (or for life), as more attractive than investing in stocks. Especially when interest rates move higher.
In reality, annuities are not so simple.
In the 2013 Berkshire Hathaway Chairman’s letter to shareholders, Warren Buffett writes about “certain fundamentals of investing.” These fundamentals form the nucleus of the Rule One investing philosophy.
Because of this, I’ve included selections from his letter regarding these key points, along with my own comments. I hope my thoughts help to amplify the point he’s making.
I’ve compiled a list of retirement quotes and retirement words of wisdom from those who describe it best!
When I say the word “retirement,” what image pops into your mind? Is it a tropical vacation somewhere? Is it a golf course with friends? Maybe relaxing with your grandkids? Whatever it is, I hope it’s a happy image. Because retirement should be just that – happy, healthy, and wealthy.
You’ve spent the majority of your years planning, saving, and making money by working hard in your career. Your job may have been your passion, but now is the time to seek out new opportunities.
Over 28% of Americans age 55+ years have zero money saved for retirement. 17% of Americans age 55+ years have less than $10,000 saved.
This means that over 35% of Americans approaching retirement have no savings prepared – other than what they may have in social security.
This is why so many retirees live in fear of the question: Will I outlive my retirement savings?
Tax season is around the corner. This means you are probably starting to think about the best way to use your refund. We have already discussed five things that you should do with your tax return this season, but what should you not do?
Once you get your refund, you may be tempted to spend that big chunk of money. Don’t! Decide to take control of your funds and become financially fit instead.
Have you been thinking about what you need to do to ensure a comfortable retirement? Do you want to learn how to invest now, so you’ll have enough wealth built up to thrive in your golden years? There’s a big difference between dreaming of becoming rich and being committed to having financial independence. Understanding this Read more.
Investing beginners associate investing in the stock market with intense feelings of fear and stress. Investing in anything, especially the stock market, when you don’t know anything can be scary. It’s a serious journey that shapes your life, that’s why we’re here to help. Learning how to invest and understanding what you’re investing in WILL Read more.