Links to several of my favorite recent articles on money and life:
The 24 Best Stephen Covey Quotes for Oct. 24, his 85th Birthday by Jennifer Graham at Deseret News
Stephen Covey has been one of my favorite authors and speakers since I first heard him speak as a 10-year old about 45 years ago. His wisdom and stories have always inspired and motivated me. Covey died in 2012, but were he still alive he would have turned 85 this week. To commemorate the occasion the Deseret News printed some of Covey’s best quotes. To get the most out of Covey dive into one of his books, but if you don’t have time for that these quotes can give you a quick shot of classic Covey inspiration.
The Missing Diamond by Liberty at Liberty Shelter
Misfortune is often the best teacher, especially if you’re a willing learner. I love stories that teach, and this is a good one.
Richard Thaler was recently named the 2017 Nobel Prize winner in Economics. He won the prize for his work in developing the fascinating field of behavioral economics. This article is a good summary of some of the intriguing things Thaler discovered about human nature in his work.
How to Make the Biggest Impact with Your Breast Cancer Donations by Kerri Anne Rensulli at Money Magazine
I have written before about how my wife, Alice, is a breast cancer survivor. I am feeling grateful as she had her three-year check-up yesterday and received a clean bill of health. October is Breast Cancer Awareness month and this article provides some good advice on how to make your donations do the most good.
Can You Do 1% Better at Apathy Ends
Direction is more important than speed, and small changes that you can sustain are much better than big changes that collapse under their own weight. Improving by 1% and repeating is a great recipe for rewriting your financial story.
How to Make Sure Your Money Lasts Through Retirement by Elizabeth O’Brien at Money Magazine
The 4% withdrawal rate is a well-known rule in personal finance circles for making your money last through retirement, but as Captain Barbosa famously said about the Pirate Code in Pirates of the Caribbean, it is more what you would call a guideline than an actual rule. This article discusses some situations when you might want to adjust the 4% rule and some sensible ways to do it.
Warren Buffett’s Favorite Market Indicator Says Stocks are in Trouble by Paul J. Lim at Money Magazine
We are enjoying one of the longest bull markets in history which leads a lot of people to speculate that the stock market is overvalued. This article uses Warren Buffett’s favorite measurement of market value to confirm this. The more difficult question is “what should you do about it?” My advice for long-term investors is “not much.” Rebalance to return to a risk level you are comfortable with and keep making regular investments.