May 15, 2023 - Volume LI No. 10
IN THIS ISSUE...
- The Key to Getting Wealthy is Having a Good Savings Habit
- My Thoughts on the Stock Market’s Direction Have Little Influence On How I Invest
- Since Market Timing is Too Hard to Get Right, I Have to Try Something Else
- Market Volatility is Not a Foe
- A “Solar System” Approach to Stock Investing
- Real Estate Syndication Deals
- The Right Answer to the Insurance Question
- DSO Update - Rising Rates are Crimping Profit Margins
- IRS Issues Strict Regulations on EV Tax Credits
The Key to Getting Wealthy is Having a Good Savings Habit
When I think about the doctors I have seen retire very wealthy (say with ten million dollars or more of investable funds) vs. those I have seen retire well to do (and everyone retires at least well to do or they would keep working), the difference is not that the very wealthy invested in ways that earned them a higher rate of return on their money. The difference is that the very wealthy saved more. If we don’t have a good savings habit, it doesn’t make much difference whether we earn 18% or 8%. The very wealthy retirees did not necessarily earn more. What they did was to...