MFOHome About Commentary Discussions Funds The Best Resources Support Us!

Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Sign In Register

Categories

In this Discussion

Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

    Support MFO

  • Donate through PayPal

Jonathan Clement's: Thinking Out Loud

TedTed
in Fund Discussions
FYI: IDEAS ARE TOOLS that can help us see the world with greater clarity. Indeed, I find myself returning to certain financial notions again and again, because they’re so fundamental to understanding the world of finance and how we can make our lives better.

What are the most important ideas? I decided to create a new chapter for HumbleDollar’s online money guide, which covers the 15 notions I consider most crucial:
Regards,
Ted
https://humbledollar.com/2019/07/thinking-out-loud/

Comments

  • CharlesCharles
    That's a lot of important ideas.
  • msf
    Perhaps that's why the last of his 15 most crucial notions is "Enough".:-)
  • hank
    edited July 2019
    On Humility - The first money manager I ever listened to or paid any attention to was Sir John Templeton, a frequent on the old Rukeyser show in the 70s and 80s. I think Sir John would have agreed with most of the ideas on the list - perhaps, most importantly, “Be an owner“. In addition, Sir John came across as one of the most humble individuals ever to grace Lou’s stage. However, a great many fine managers, Jeff Gundlach or Peter Lynch for example, strike me as anything but humble. So I’d say that one cuts both ways.

    Another critical “idea” here is compounding. That gets to the heart of why it’s important to start investing early.
  • Old_JoeOld_Joe
    re "Compounding": Absolutely critical.
  • catch22catch22
    Yup, @Old_Joe

    I'm still pushing the Roth IRA accounts for minors, reminding family and friends.
    Compounding tax free from teen years........never had that choice.
  • LewisBraham
    Seems like a lot of platitudes to me. What's next? "Just remember kids, a penny saved is a penny earned."
  • catch22catch22
    Hi @LewisBraham
    Don't believe in Roth IRA's for a minor to perhaps establish money and budget habits; and learn about investing ?
    Take care,
    Catch
  • hank
    edited July 2019
    catch22 said:

    Hi @LewisBraham
    Don't believe in Roth IRA's for a minor to perhaps establish money and budget habits; and learn about investing ?

    Hey Catch - I didn’t view Lewis’ comment as a critique or criticism of your position on Roths for kids. I think he was just reacting to the original list of 15 “ideas”. They’re offered, I think, simply as starting points for further thought or discussion. So different readers see different things in each one (and some only “platitudes”).

    Lewis did reference Ben Franklin’s penchant for pennies. I still lean over to pick them up from the sidewalk. However, the other day I tried to scoop one up and found some *#@*# had super-glued it to the surface! Planning to bring a hammer and chissel along next time in the area. A penny chiseled is a penny earned. :)

    Regards

    PS: @Catch - It’s hard to argue with your central point. I love the Roth. And also think it’s an essential life skill to understand basic money management. Can’t start too young IMHO.
  • LewisBraham
    Yes, I am not referring to you, Catch, but to the list itself. You’re good.
  • hawkmountain
    No you can't start too young! A grandson is an "apprentice" to his uncle who moonlights as a rodeo clown in the summer and a college mascot in the fall. He gets paid a modest amount and is having a blast riding around in a wagon, getting dressed up and waving to crowds. They love him. He gets ice cream cones and the rest goes in his Roth. He's three.
  • Sven
    He gets ice cream cones and the rest goes in his Roth. He's three.
    Impressive! It's great to the young ones learn to save and invest early.
Sign In or Register to comment.