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

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 »

How Much Can You Safely Withdraw from Your Portfolio Each Year in Retirement?

For around 20 years, financial advisers and academics have been actively wrestling with the question of the safe withdrawal rate from a portfolio. The seminal article in the field is by William Bengen, entitled “Determining Withdrawal Rates Using Historical Data.” It was published by the Journal of Financial Planning in October 1994 and later chosen Read more »

What about Dividend-Growth Investing?

Question: May I ask what your opinion is re “dividend growth investing”? The angle that attracts me is that if one could get by on the dividends alone (in addition to Social Security, pension, etc.), you would not be forced to sell assets to live on during a down market. As such that would constitute Read more »

Lesson 21 – A More Sensible Use of Hedges

As I mentioned in the last lesson, the Permanent Portfolio (PP) is NOT an example of a well-diversified portfolio. It does, however, have, in my opinion, three excellent hedges: Treasury bills, Treasury bonds, and gold. Hedges, as insurance, are to protect you against losses you can’t afford to take. If you’re a long-term investor, a Read more »