Don’t Just Do Something, Sit There!

No, this isn’t a blog about a clever phrase to use when market volatility rears its ugly head (although it would be a good one, and you may see it again!). This is a quick post from all of us at The Asset Advisory Group to say Happy Memorial Day! Forget about planning the perfect weekend. Forget about the ad showing a couple waking up to a freshly cooked breakfast in their staunch white bathrobes while the sun shines brightly throughout the house. Those ads leave out the hours spent grocery shopping, cooking, doing laundry,… [read more]
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Our Age of Uncertainty

Over our lifespan, we baby boomers have lived through the Cuban Missile Crisis, JFK’s assassination, the Vietnam War, Richard Nixon’s resignation, the Iranian hostage crisis, the AIDs epidemic, and many other important and terrible historical events that are too numerous to mention – but they were not reported to us in real time like the news of today. This negative information overload, discussed in Chip Workman’s blog last week, creates a constant sense of crisis and increases our anxiety level about our financial security. We’re getting older, and we realize we have less time to… [read more]
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Data Smog

“When information changes from a stream to a river to Niagara Falls, how will we ever slow down to achieve knowledge?” – Gregg Easterbrook, Sonic Boom, Random House, 2009. The term “Data Smog” was coined in a book of the same name by author David Shenk in 1997. The term was more recently discussed in a book titled Sonic Boom by Gregg Easterbrook. Data smog suggests that the ever increasing, on-demand news and data accessible to us as a society actually decreases our ability to acquire knowledge or plan for the future as we are… [read more]
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The New Money Rules for Recent Graduates

(from Ron Lieber’s Your Money Column, New York Times, 5/8/2010 – read the article direct from the Times here) Graduation season is a time of oddly mixed emotions for the people finishing college and graduate school. On the one hand, there is pride in a job well done (or relief at simply getting through) and the satisfaction of having finished a long, hard slog. On the other, there is primal fear. Will anyone pay me to do something I’m good at? And will I actually have enough money to live on? We push our… [read more]
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Will I Outlive My Assets?

A question I am frequently asked is “How much money do I need to retire?” Most calculators you can find on the internet provide an oversimplified answer and do not take into account each individual’s unique situation. For some people $2 million is more than they could ever spend and for others, it is not nearly enough. Over the past twenty years, I have had the opportunity to observe many people’s spending habits after they quit working. Those who are the most flexible with their expenditures have the best chance of achieving a financially successful… [read more]
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