I think the question of this post isn't about quotes, but about hard held beliefs that may not be true. For example, one belief that it appears nearly everyone accepts is that the stock market will always move higher over time. Now is that really something that we can know.
My Dad started investing in stock mutual funds just before the start of the 72/73 bear market. At one point his fund had lost 50% of its value and I recalled him talking with mom one night about what they should do. The impulse to sell was large but then my Dad said “what we should is buy more now that prices were down. I don’t know what they actually did but for me it was a lesson to be ready to invest more during market crashes. That part was fine but it also meant that I kept more dry powder than necessary in anticipation of another market crash. Eventually, I learned to ignore the fear of a market crash to stay more invested all the time to reap the reward of the longer and more substantial market climbs.
Well said, retirement is an accomplishment. And, yes sometimes I’m bored but there are also many moments of serendipity that would have never have happened otherwise. don’t be afraid to embrace the change.
Assets are resources that exist at a specific point in time; whereas, income is the inflow of resources over a period of time. Hence, assets actually exist but income is just a concept to explain the change in assets. The example of the bank account was a good one. Say you have a savings account with $100 at the start of the year and during the year you earn 5% or $5 in interest. The balance of the account is an asset and the interest earned is income. If you don’t spend the $5 then your account balance $105. Your assets have increased by the interest earned or income. Or perhaps you spend the $5 to buy food which you consumed. Now you have an expense as well. Your net income is $0. $5 of interest income less $5 in food expense. Either way your savings account is an asset regardless of what you do with its income. I hope this helps.
I’m very sorry to hear that your granddaughter is disabled. That must have been a terrible blow to your daughter and you as well. I know it is daily struggle and my thoughts go out to you and your family.
I went to San Diego State University in the seventies and tuition was about $100 / semester. And, I used my accounting degree for a wonderful career. It was a great opportunity for citizens which has generally eroded over time. Mr. Quinn you did right by your kids! Well done!
A lot of people strive to leave their mark on the wider world in some way, but it is almost always inconsequential in the long run. Think about all of the former U.S. Presidents that you can't even name. Unfortunately, you may be in denial. I hope you can be satisfied with what you were given and what you have achieved. Of course, you won't print this comment because it interferes with your narrative. No matter, I only want the best for you.
I agree. Yes, we had inflation but what we don't know is what would have happened without the stimulus. Would we have slipped into a severe recession or depression? It is possible. There is nothing worse than not being able to find work.
Comments:
Are you going to tell us what the truth is?
Post: HD readers – “a cut above” as Jersey Mike the new billionaire says
Link to comment from December 8, 2024
Very contentious post with political undertones. Much like reading political or debate.
Post: CLUES LEFT BY A KILLER ECHO WIDESPREAD ANGER AT HEALTH INSURERS
Link to comment from December 8, 2024
I think the question of this post isn't about quotes, but about hard held beliefs that may not be true. For example, one belief that it appears nearly everyone accepts is that the stock market will always move higher over time. Now is that really something that we can know.
Post: Didn’t Say That by Jonathan Clements
Link to comment from December 8, 2024
My Dad started investing in stock mutual funds just before the start of the 72/73 bear market. At one point his fund had lost 50% of its value and I recalled him talking with mom one night about what they should do. The impulse to sell was large but then my Dad said “what we should is buy more now that prices were down. I don’t know what they actually did but for me it was a lesson to be ready to invest more during market crashes. That part was fine but it also meant that I kept more dry powder than necessary in anticipation of another market crash. Eventually, I learned to ignore the fear of a market crash to stay more invested all the time to reap the reward of the longer and more substantial market climbs.
Post: Taking Stock by Jonathan Clements
Link to comment from November 22, 2024
Well said, retirement is an accomplishment. And, yes sometimes I’m bored but there are also many moments of serendipity that would have never have happened otherwise. don’t be afraid to embrace the change.
Post: Enjoy the moving walkway, embrace retirement, don’t look back RDQ
Link to comment from November 11, 2024
Assets are resources that exist at a specific point in time; whereas, income is the inflow of resources over a period of time. Hence, assets actually exist but income is just a concept to explain the change in assets. The example of the bank account was a good one. Say you have a savings account with $100 at the start of the year and during the year you earn 5% or $5 in interest. The balance of the account is an asset and the interest earned is income. If you don’t spend the $5 then your account balance $105. Your assets have increased by the interest earned or income. Or perhaps you spend the $5 to buy food which you consumed. Now you have an expense as well. Your net income is $0. $5 of interest income less $5 in food expense. Either way your savings account is an asset regardless of what you do with its income. I hope this helps.
Post: Is your net worth, worth it and what’s in it? RDQ
Link to comment from October 29, 2024
I’m very sorry to hear that your granddaughter is disabled. That must have been a terrible blow to your daughter and you as well. I know it is daily struggle and my thoughts go out to you and your family.
Post: Finding a flat-fee financial advisor
Link to comment from October 22, 2024
I went to San Diego State University in the seventies and tuition was about $100 / semester. And, I used my accounting degree for a wonderful career. It was a great opportunity for citizens which has generally eroded over time. Mr. Quinn you did right by your kids! Well done!
Post: Quinn ponders the College Conundrum
Link to comment from October 10, 2024
A lot of people strive to leave their mark on the wider world in some way, but it is almost always inconsequential in the long run. Think about all of the former U.S. Presidents that you can't even name. Unfortunately, you may be in denial. I hope you can be satisfied with what you were given and what you have achieved. Of course, you won't print this comment because it interferes with your narrative. No matter, I only want the best for you.
Post: Never Quite Enough
Link to comment from September 21, 2024
I agree. Yes, we had inflation but what we don't know is what would have happened without the stimulus. Would we have slipped into a severe recession or depression? It is possible. There is nothing worse than not being able to find work.
Post: Quinn ponders – Are you better off than you were four years ago?
Link to comment from September 20, 2024