Insightful. Independent. Innovative.
Podcast: Play in new window | Download
Reading Time: 3 minutes
In this episode of Intelligent Money Minute, I had the pleasure of interviewing Larry Swedroe, head of Financial and Economic Research at Buckingham Strategic Wealth, on what an intelligent investor should do with market outlooks.
Podcast: Play in new window | Download
Reading Time: 2 minutes
In this episode of Intelligent Money Minute, I had the pleasure of interviewing Larry Swedroe, head of Financial and Economic Research at Buckingham Strategic Wealth, on what an intelligent investor should do when an asset class falls out of favor.
Podcast: Play in new window | Download
Reading Time: 3 minutes
In this episode, we had the pleasure of interviewing Bethany Winston, owner, and Editor-in-Chief of Kidding Around Greenville, as she shares valuable insights on assessing risk in your small business.
Podcast: Play in new window | Download
Reading Time: 2 minutes
In this episode of Intelligent Money Minute, we had the pleasure of interviewing Larry Siegel, the director of the CFA Institute Research Foundation and a prolific investment management author. We dive into a discussion with Larry on the rise of artificial intelligence.
Larry Siegel began by highlighting the dynamic nature of AI technology. It’s a field that’s progressing at a breathtaking pace, making it challenging to keep a steady viewpoint. The implications of AI’s continuous evolution extend far beyond what we can currently anticipate.
An anecdote from Tyler Cowen’s blog, “Marginal Revolution,” left Siegel impressed. The story was written by an AI program and exuded creative writing with a flair for evoking emotions. This starkly contrasted previous AI outputs, which Siegel found unimpressive and likened to amateurish essays.
Despite the breathtaking progress in AI, Siegel remains cautious. While acknowledging AI’s ability to process vast data sets at remarkable speed, he is skeptical about whether it can truly mimic human intelligence. The debate rages on about the extent to which AI can replicate the intricacies of the human brain.
The interview delved into the question of AI’s role in financial advice. Could AI replace human advisors, particularly for intellectual tasks? Siegel’s cautious approach to AI’s evolution is timely given its potential impact on various professional fields, including finance.
At Intelligent Investing, we continuously explore the intersection of technology and human intelligence. As AI develops, it’s essential to strike a balance, recognizing the strengths of both humans and machines. The future will likely demand a collaborative approach to maximize the potential of both.
Laurence B. Siegel is the Gary P. Brinson director of research at the CFA Institute Research Foundation and an author, consultant, and speaker on investment management and economics. Before retiring from full-time work in 2009 he was director of research at the Ford Foundation and, before that, head of research at Ibbotson Associates (since acquired by Morningstar). He attended the University of Chicago (BA 1975, MBA 1977). His book, Fewer, Richer, Greener, has been published by Wiley and is available, along with his other work, at https://www.larrysiegel.org.
Podcast: Play in new window | Download
Reading Time: 3 minutes
In this episode of Intelligent Money Minute, I had the pleasure of interviewing Larry Swedroe, head of Financial and Economic Research at Buckingham Strategic Wealth, on the topic of whether Bitcoin is truly a good inflation hedge.
Podcast: Play in new window | Download
Reading Time: 2 minutes
In this episode, we had the pleasure of interviewing Bethany Winston, owner, and Editor-in-Chief of Kidding Around Greenville, as she shares valuable insights on the finances of starting a business.
Podcast: Play in new window | Download
Reading Time: 2 minutes
In this episode of Intelligent Money Minute, we had the pleasure of interviewing Larry Siegel, the director of the CFA Institute Research Foundation and a prolific investment management author. We dive into a discussion with Larry on the benefits of continuing to work beyond the traditional retirement age.
First and foremost, extending your career offers a significant financial advantage. Most jobs pay better than the retirement benefits that follow. By working longer, you can bolster your income, reducing the need to draw from your retirement savings. This, in turn, allows your nest egg to last longer.
For instance, if you retire at 70 instead of 62, you have eight fewer years of retirement to finance with your savings. This can translate to a more comfortable retirement lifestyle. Additionally, working longer provides you with an opportunity to save more, further strengthening your financial position.
Beyond financial considerations, working beyond the traditional retirement age offers vital mental stimulation and social interaction. Engaging in meaningful work can keep your mind sharp and active. It prevents the feeling of life becoming a waiting game, as Larry aptly puts it.
The human need for intellectual engagement and social connection remains a driving force. Continuing to work allows you to maintain a sense of purpose, contribute to society, and interact with colleagues, fostering personal growth and well-being.
Larry Siegel stresses how remaining intellectually active and engaged can be personally fulfilling. By continuing to write books, give talks, and interact with colleagues and clients, he not only sustains his mental acuity but also enjoys the sense of purpose and fulfillment that comes with it.
At Intelligent Investing, we understand that the transition into retirement can be challenging. Husbands and wives often have differing goals and concerns. Our mission is to unify families through effective financial communication, helping couples make a successful transition into retirement.
Explore our retirement resources on our website to gain valuable insights into this transformative phase of life. We are passionate about minimizing financial stress and maximizing the quality of life for our clients.
Laurence B. Siegel is the Gary P. Brinson director of research at the CFA Institute Research Foundation and an author, consultant, and speaker on investment management and economics. Before retiring from full-time work in 2009 he was director of research at the Ford Foundation and, before that, head of research at Ibbotson Associates (since acquired by Morningstar). He attended the University of Chicago (BA 1975, MBA 1977). His book, Fewer, Richer, Greener, has been published by Wiley and is available, along with his other work, at https://www.larrysiegel.org.
Reading Time: 4 minutes
We’ve all seen the school supplies on sale at our local stores. That can only mean one thing….school’s about to begin… if it hasn’t already started.
Most articles written by financial advisors on education feature the savings plans for accumulating college funds, such as 529 plans. In fact, so much has been written about it that I would be remiss to bore you with one more article on a subject that has been covered so well, and so extensively. So, guess what….I’m not! If you live in South Carolina, there was a great way to calculate the estimated cost of college by using this Future Scholar Tool. Also, Investopedia has an excellent article on the basics here.
Few families have unlimited financial resources, especially larger families (lots of children), and of course the costs continue to rise. Additionally, student loan financing is an option, and this is a major decision that merits much reflection.
Unfortunately, when it comes to financing your children’s education (note, I did not say college), most people do not talk about it, let alone establish a formal Family Education Policy.
So…what is this Family Education Policy I’m talking about?
At Intelligent Investing, each client receives a personal Investment Policy Statement (or IPS), and the importance of this document is vital to the success of their financial plan. The Investment Policy Statement establishes reasonable objectives and guidelines regarding our client’s assets. It sets forth a target portfolio indicating risk levels, allocations, and return targets that the client’s money will typically be invested to achieve. We think it is just as vital to have a Family Education Policy, which is a tool used to make sure everyone is on the same page when it comes to any education beyond high school (postsecondary education). We’ve included a free template further down.
One of Intelligent Investing’s Four Unique Factors is to unify families in financial communication. Intelligent Investing strives to unify families in financial communication. Share on X It is important for husbands and wives to come together on this subject and agree on their goals regarding the education of their children. The more children you have, the more important to come to an agreement early on as parents. This was a major part of my wife’s and my financial picture over our working years. And, sometimes, it doesn’t hurt if the grandparents get involved…it just might even help (can you say estate planning?).
Often parents will choose to not fund 100% of their child’s education, even when it is possible financially to do so. We all know that we are more committed when we have some “skin in the game”, and this increases the student’s odds of academic success. That summer job, and buckling down and studying hard to merit greater scholarship money may even help them excel in the work place once they graduate.
Scholarship money, you say? The words “College scholarship” were among the first words we taught our daughter, and fortunately, it did pay off.
The earlier and more often we discuss education and education funding with our children, the more aligned we will be as a family. It also gives our children the opportunity to discuss their hopes and dreams.
A Family Education Policy gives our children opportunities to discuss their hopes and dreams. Share on X
Assuming our child wins scholarships towards college expenses, and assuming we require our child to pay a portion of their college costs, how should we apply these funds? To the child’s portion or to the parent’s or grandparent’s portion? How we apply scholarship money may indeed affect the student’s academic motivation.
This may be a hot topic for debate, but what if you have a child who is not interested in college, and instead wants to be, say, a homebuilder? Trade school can lead to business ownership potentially much quicker than college, and business ownership can be the path to both independence and wealth generation. Contractors, auto repair centers, and other such businesses are quite profitable, and once established are often very stable when compared to careers in corporate America. The quickest path to CEO is not necessarily up the corporate ladder. Also, student loans are daunting and continuing to increase. The quickest path to CEO is not necessarily up the corporate ladder. Share on X
With trade school you are focused immediately on a certain curriculum, while in a University there is an opportunity to explore various fields.
Trade schools are much less expensive that colleges and universities, but remember, treating our children fairly and equitably based on their aspirations and aptitudes doesn’t have to mean treating them equally.
At Intelligent Investing, we have access to hundreds of college tuition and room and board costs, and our financial planning allows us to choose whatever specific college your child may want to attend using today’s costs. We can then customize how much we want to inflate those amounts and project them into the future. The bottom line is that we think it is important to discuss, determine and communicate a family education policy plan so everyone is on the same page.
[gview file=”https://investedwithyou.com/wp-content/uploads/2023/08/Family-Education-Policy-1-1.docx”]
Helping our clients meet their goals is our passion at Intelligent Investing. If we can help you with education planning or in any other way, please let us know!
