Being wealthy doesn't mean having all the money in the world, just not having to worry about it.

What about REITs?

Question: I have dropped commodities for the “well rounded portfolio” and embrace pretty much what you have advised here in this November post. But you don’t mention REITs [Real Estate Investment Trusts]. I still have about 8% in REITs but am thinking of selling those as well. Thoughts? Answer: REITs are businesses, so they fit into Read more »

The Ride Is the Reason for the Return

I despise market commentary, both for the presumption that anyone really knows the reason for short-term movements and because it distracts people from the fact that investing in equities is a matter of long-term ownership in the businesses that provide the world’s goods and services. Fluctuations in human emotions explain more of the short-term movement Read more »

Seven Steps to Financial Peace of Mind

Before addressing specialized areas, I’d like to offer my thoughts on basic financial advice for do-it-yourselfers: Spend less than you earn Be an owner, not a loaner Commit to your service Locate yourself Adopt pay-as-you-go Protect against major threats Focus on relationships 1. Spend less than you earn. You want your life to point up rather Read more »

I’m Back!

Happy Reboot Day! For the past year-plus I’ve had to put the website on hold while I focused on various professional and personal matters, the most important being the final illness and passing of my beloved wife of 30 years. I’m doing great, thanks, and Diane said she’ll kill me if I keep using her Read more »

How Would Less’s Retirement Approach Have Worked from 1966-1982?

Question: Been loving your site since the “old days” when you had the message board, etc…. I’ve never read your “take” on that tired canard of the sideways US stock market of 1966 to 1982…. I know dividends were greater, no international funds, no gold funds, etc., and the most positive data I have seen Read more »

Lesson 27: Deciding Whether to Get Long-Term-Care Insurance

Ironically, while many people allow their lives to be exposed to the risk of an income-destroying disability, they are far more aware of a far less useful protection, long-term-care (LTC) insurance. It isn’t that the need for LTC is less likely than long-term disability. Almost by definition, the former is much more likely, since anyone Read more »

Lesson 26 – Disability Income Protection

Now that tax season is over, I have a little more time to blog. A new lesson is overdue: my last one on life insurance was a cakewalk compared to disability income protection. It’s not because it is difficult to determine whether or not you need disability income protection: if you aren’t yet financially independent, Read more »