by Michael Lecours | Sep 12, 2014 | Saving, Uncategorized
A young client told me that she wanted to have a million dollars by the time she retired. In her mid-twenties, she has time on her side. By socking away $5,000 every year until she retires, she’ll hit her goal (assuming a 7% annual return). See the blue line. It would...
by Michael Lecours | Sep 11, 2014 | Retirement, Rule of Thumb, Saving, Uncategorized
The following story offers a great example of what can go wrong when a young, financially inexperienced individual becomes wealthy overnight. This author’s advice at the end is exactly what we recommend to clients in this situation: Get advice from someone on how to...
by Michael Lecours | Sep 10, 2014 | Finding Confidence, Investment Strategies, Rule of Thumb, Uncategorized
What’s wrong with this chart? Give up? The folks that created the chart are trying to predict the next Black Swan – the next significant event that could derail the economy. The problem is, that by definition, black swan events are unpredictable and...
by Michael Lecours | Aug 21, 2014 | Investment Behavior, Investment Strategies, Retirement, Rule of Thumb, Uncategorized
In a recent Gallup poll, Americans were asked what they thoughts was the best investment to make over the long term. Their choices: Real estate Gold Stocks Savings Accounts Bonds The average American incorrectly believes that Real Estate is the best investment over...
by Michael Lecours | Aug 20, 2014 | Cash, Rule of Thumb, Saving, Uncategorized
No surprise here – Connecticut is close to the bottom.
