Overconfident investors trade too much, damaging their returns. But heartened by their brokers’ applause, they courageously carry on.
NO. 39: WE SHOULD worry less about dying early in retirement—and more about living longer than we ever imagined. Faced with that risk, we might delay Social Security and buy lifetime income annuities.
NO. 80: RETIREMENT should be your top priority, ahead of saving for a home or the kids’ college. Why? Retirement costs far more, so you need decades to amass enough, plus you should always fund a 401(k) with an employer match. There also aren’t loans available for retirement, as there are for college and home purchases, except for costly reverse mortgages.
SHORT-TERMISM. To have a bright financial future, we need to save diligently and invest for the long haul. Yet often we think only of today, leading us to spend and invest impulsively. What to do? Try waiting a week before acting on major spending and investing decisions, while also visualizing how great it’ll be to achieve our long-term goals.
TAKE STOCK of your bonds. Our financial lives are chock-full of bond lookalikes, including our paycheck, Social Security and any defined benefit pension—all paying us regular income now or in the future. Set against this income is a big income drain: our debts. Result: Our finances may be more or less risky than our bond position alone suggests.
NO. 39: WE SHOULD worry less about dying early in retirement—and more about living longer than we ever imagined. Faced with that risk, we might delay Social Security and buy lifetime income annuities.
My 2014 Honda Accord hit 10 years recently. It has 97,000 miles. It still runs well; cosmetically it is average. I use it as a 2nd car. We use my wife’s 2022 Honda Pilot for the majority of our driving. It’s a fine car, but not exciting.
I bought this Accord when I was driving from Valley Forge, PA to northern VA frequently. But that stopped after a few years when my company role changed. I probably put on half the mileage in the first two years.
What do you look for when buying a car? Quality, reliability, safety features, good mileage? Yup all that plus I like technology and friendliness.
My new car has more cameras than Kodak. When I use the navigation it shows a live image of the turn so it’s hard to miss. It uses the cameras to find a space and park itself. If I get lost I just say, “Take me home.”
When I start the car it says,
WE’VE OWNED OUR NEW 2023 Toyota Highlander Hybrid for six weeks. The technology and features are breath-taking. Until now, both of our vehicles were 18 years old. I feel like Rip Van Winkle, waking up in a time I do not recognize.
Here are some of the bells and whistles on our new SUV, and my evaluation of their usefulness. Please forgive me if some of this information isn’t accurate; I’m still learning about these features.
“NEVER BORROW MONEY to buy a depreciating asset.” This personal finance tip is often used to dissuade folks from taking out car loans. But does a car really leave folks poorer?
When we value an asset, it’s typically thought of as its dollar value on a balance sheet. The monetary value of my car might indeed decline, and quickly at that, but it has far more usefulness than my personal balance sheet shows. When I consider my car’s true value,
IN THE PAST, WE’VE always bought certified preowned cars. We know new cars lose a big chunk of their value when you drive them off the lot, so we had our eye on a used car when we started our search earlier this year.
Our goal was a Mercedes Benz GLC 300 AWD 4MATIC. My husband enjoys the negotiating and drama that comes with buying a car, so he investigated choices, checked out prices at dealerships and was ready to start his usual two-to-three-month car hunt.
CONSUMER REPORTS and other authorities will tell you that you get the greatest value for your car-buying dollar by purchasing a two- or three-year-old vehicle. They also often recommend selling your current car after you’ve owned it for about seven years.
We favor a different strategy—one that suits our family but certainly isn’t for everybody.
My wife’s No. 1 priority is that her vehicle be reliable. She insists that every time she gets in the car,
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