A real short list this month since we’re all still figuring out how this back to school stuff works (are those of you with kids surprised every year? I’m surprised Every. Single. Year.).
You have to check out the top three, but if you have time for more there’s a really good piece about actively seeking contentment from Morgan Housel and another one from Josh Brown about how protecting ourselves from low-probability risk costs often costs more than the risk we’re protecting against in the first place.
From Michael Kitces
The question of what retirement looks like is one my clients often answer with, “I’ll probably still work, but I want to be able to work at things I love because I love them rather than because I need the paycheque.” This article from Michael Kitces is long – like all of his are – but densely-packed with research and observation on whether money is an effective motivator and what that means for the concept of “retirement” as we’ve traditionally understood it.
“Perhaps switching to more personally rewarding work, for less money, would be a good idea… especially if doing less-enjoyable work for more money is only to pursue a “retirement” goal that may not actually make you happy anyway.”
Read the full article here.
From Julia Chung
I love having Julia as a business partner for ten thousand reasons that you should definitely ask me about sometime when you have a whole weekend to spend listening, but for now here’s just one reason: she writes really well, knows her onions, and always, ALWAYS offers solutions for real human people who have messy lives and relationships. Proof:
“Start with a conversation… The current owners – usually the grandparent generation – should review their own plans and concerns…And then, have another one. Whatever the current owners decide to do with the property is of course legally their own concern. From a family perspective however, it’s likely everyone’s concern.”
Read the full article here.
From Kerry K. Taylor
My friend Kerry K. promises to warn you about “costly gotchas and pitfalls to avoid” while she walks you through the steps (in order, naturally) involved in opening an RDSP, and boy does she deliver (but of course she does, she’s Kerry).
There’s nothing I can add…go read it.
You can read this month’s entire list below, and browse through past lists here.
“You know what’s easier than paying an arm or a leg for the type of insurance that murders you the majority of the time?”
“Investing is hard. For most of us, it can be a familiar hard, but we always have unfamiliar hards. The first time in your adult life the market drops over 25%, it’s an unfamiliar hard. The first time it drops 25% when you have real money in the markets, when the dollar value of the fall is a significant portion (or multiple) of your annual budget, that’s an unfamiliar hard.”
“If you’re going to grind, you better damn well enjoy the process.”