Good afternoon,
See, I told you so. Which is what someone says after they give you advice or counsel which turned out to be correct. They are usually less self-congratulatory if the information was off the mark. And many of us don’t listen anyway. Nevertheless, here is some advice from retirees. They say that they would tell their younger selves to start saving earlier. Which is a simple yet very powerful idea. It makes sense that the more time you give yourself to save, the more savings you’ll accumulate.
https://www.cnbc.com/2022/06/25/most-retirees-wish-they-started-saving-for-retirement-earlier.html
“Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it.” – Albert Einstein.
Personally, I always regarded Andre the Giant as the eighth wonder of the world. 7’ 4” tall and 520 pounds. https://en.wikipedia.org/wiki/Andr%C3%A9_the_Giant
Which got me wondering, what are the first seven wonders? Well, it turns out that there are ancient wonders and also new wonders.
Here are your ancient wonders, https://www.history.com/topics/ancient-history/seven-wonders-of-the-ancient-world
Here are your new wonders, https://www.hgtv.com/lifestyle/travel/modern-wonders-of-the-world
Both lists seem awfully subjective to me, so I’ll stop here and paraphrase Forrest Gump, “that’s all I have to say about that.”
And here is Louis Armstrong with his classic, What a Wonderful World, https://www.youtube.com/watch?v=VqhCQZaH4Vs
Saving more will be difficult if this report is true. It says that 58% of Americans are living paycheck to paycheck, including 30% of those earning $250,000 or more.
Wow. That’s not good. The only solutions I can think of for that scenario is to earn more and/or spend less. There isn’t an easy way out.
Tough to spend less and save at all when the cost of everything is going up. This year’s July 4th cookout is gonna be more expensive than last year.
https://finance.yahoo.com/news/inflation-hits-july-4-cookouts-181515381.html
Speaking of no easy way out, here is the latest quick fix for losing weight, aside from your food costing more. An “anti-hunger” pill.
https://www.studyfinds.org/exercise-pill-curb-food-cravings/
Um, nope. Perhaps it will help, but exercise and diet are a more permanent solution. And let’s remember that we can’t out exercise a bad diet.
Here are the healthiest communities in America. Ranked using 89 individual metrics across several categories and subcategories, by that publication famous for ranking other things as well. Like colleges.
https://www.usnews.com/news/healthiest-communities/slideshows/healthiest-communities-in-the-us
This week’s crypto commentary, if I were to write one, which I’m not really supposed to do as cryptocurrencies are not a current offering by my firm, would be something along these lines.
Crypto valuations have been falling and so have shares in many of the companies involved in the crypto space. Which really isn’t that unusual for new companies involved in a new technology during a volatile market. Like every other industry, there will be winners and losers, but it’s too early to tell them apart. Here is Steve Forbes with his 2 cents, https://www.youtube.com/watch?v=4BCD_vIwMII
I was scheduled to continue my travels this upcoming holiday weekend by visiting Newport, Rhode Island. But as of now, it appears that circumstances may not let me complete that trip at this time. Which is too bad, Newport is supposed to be amazing. Here are some highlights I was hoping to take in, https://www.flipsnack.com/discovernewport/2022-newport-destination-guide.html
Maybe next time.
This is a completely random thought, but why don’t taco trucks cruise the neighborhood like ice cream trucks?
This week’s chuckle is a repeat, I think, the 4th of July scene from a WMR favorite movie, The Sandlot, https://www.youtube.com/watch?v=fWCYvllZn1E
LF28 – “Wise men need advice. Fools won’t take it.” – Benjamin Franklin.
Have a great week and stay healthy.
This material is for informational and educational purposes only. Opinions and forward-looking statements expressed are subject to change without notice. It includes links to third party sites not affiliated with Lincoln Financial Advisors. Lincoln Financial Advisors is not responsible for the content and does not guarantee the accuracy of any information or material contained therein. Lincoln Financial Advisors Corp. does not participate in the crypto marketplace or promote cryptocurrency as an investment strategy. The opinions expressed are those of Michael Acho and not necessarily those of Lincoln Financial Advisors Corp. CRN-4823914-062822