Harley Schwadron started drawing cartoons at the age of eight. However, he reports, “…I never thought I could earn a living at it.” Knowing the odds were against him, he instead got a master’s degree in journalism.
After graduating he worked as a reporter for Michigan News Service. However, he never lost his passion for drawing cartoons, and continued doing it in his spare time. Finally, he states, “In 1985 I took a chance and started doing cartoons full-time. I’ve been happily at it ever since!”
Schwadron specializes in business and financial cartoons, and his work can be found in The Wall Street Journal, Barrons, Harvard Business Review, and The Saturday Evening Post. You can also see his work on his website at http://www.schwadroncartoons.com/. Here are 10 of my favorites on the topic of money:
Diversification
Larry Swedroe stated, “Diversification is the only free lunch in investing because through diversification investors reduce risk without lowering their expected return.” Ben Carlson adds, “Proper diversification means always having to say you’re sorry about part of your portfolio.” This cartoon doesn’t teach either of those lessons, but it does remind you that diversification is a good idea in a humorous and memorable way:
Saving Money on Healthcare
With medical costs skyrocketing everyone is looking for ways to save money on healthcare. Here is an idea that I wouldn’t necessarily recommend:
Cubicle Hell
This one is for my recent college-graduate daughter, Shannon, who has made it her goal in life to never work in a cubicle, and mercilessly teases those who do. As I keep reminding her, sometimes as an adult, you got to do what you got to do.
Investing is An Act of Faith
I have always felt that investing is an act of faith. Faith in the continued ingenuity of mankind to solve our problems and progress, and faith in a better future for yourself. This cartoon reminds us of this important principle.
Risky and Painful (Two-For-The-Price-of-One)
These comics remind us that investing is both risky, and at times painful. Risk and temporary pain are the costs of admission to the long-term reward of a better financial future. They key to success is designing an investment plan with a degree of risk and pain that you can handle, so that you will stick to it for the long run.
Now Add a Little Stress
In addition to being risky and painful, this cartoon reminds us that investing can also be stressful. In spite of all these negatives, Vanguard founder John Bogle reminds us, “Invest you must,…for not investing is an iron-clad formula for failure.”
The Rip Van Winkle Investment Plan
William Bernstein tells a great story, which could be true but probably isn’t, about a lady who invested $10,000 dollars in a mutual fund in the mid-1970s and then forgets about it. “Shocked by the October 19, 1987 market crash, she panics and calls the fund company to inquire about the state of her account. I’m sorry madam, but the value of your fund holdings has fallen to $179,623.” This cartoon reminds us that the cure for the risk, pain, and stress of investing is time – and not thinking too much about your plan along the way. If you have a solid plan in place your best course of action is usually to do nothing.
Death and Taxes
You can avoid a lot of things in life, just not death and taxes.
What’s Worse Than Paying Taxes? (Two-For-The-Price-of-One)
These cartoons are great reminders that the only thing worse than having to pay taxes is not having to pay taxes.
Time to Retire?
Knowing when to retire can be difficult, but something like this is a pretty clear sign the time has come.
Additional Resources
10 Investing Lessons From Dilbert Creator Scott Adams and Vanguard Founder John Bogle
10 Amusing Cartoons by Randy Glasbergen That Also Teach Important Lessons About Money
Money Lessons from a World-Famous Artist
A Page Full of #Money Memes by J. Money at Budgets are Sexy