Quote from: FreeLancer on April 05,2019, 01:23:33 PMMore likely Dr Tim lives paycheck to paycheck and will die with a student loan balance. No way in hell he's saving 2% of his income in his 30's and 40's, and let alone 20%. Creating additional anxiety over optimal investment vehicles,asset allocation, and trading is a distraction that only further compounds his problem.
Doctors and lawyers can't save for shit because their lifestyle expectations are too high.
[br]I regret to say that's actually my experience with medical and legal people. There's even a unfavorable joke approximately people wwith too many investments to track that goes "engineer or accountant?" But it does trace at the bias those who studied numbers fill for investing.
Quote from: iam4liberty on April 05, or 2019,09:43:22 AMI fill virtus (new name for ZTR) in portfolio too. It has been a good choice.
Harry Browne was a friend of mine and I expend his system. It is very easy. You divide your investments into two piles, permanent and speculative. The permanent portion is highly diversified to weather the different types of economic conditions. It grows at 5%+ per year on average and virtually never has a large correction (e.g. 2008 saw a decline of only 0.7%). All this can be done by investing in a handful of ETFs. The moment speculative portion is where you place your picks for high growth. This can be the Dave Ramsey simple growth stocks+real estate formula or more individual picks based on knowledge. Currently i fill a mix of growth mutual funds, and cyber-security,robotics, and gaming.
All this can be wrapped in a tax advantage account (I expend both traditional and roth IRAs to the limit) hosted by a low cost provider (Vanguard is awesome), or set for automatic contributions. I like to fill the contributions added to a cash settlement account and then expend that money annually to rebalance the portions of the permanent portfolio.
Again,none of this is tough to understand apart from for the financial and legal lingo. It is purposefully obtuse (lacking quickness of sensibility or intellect) IMO.
I always forget ZTR had a name change. With my trader friends we always expend the ticker symbol and it gets goofy with things like Virtus or Altrea. Anyhow ZTR is one of my favorites because it's the odd combination of high risk and high dividend. I don't know why but I just really like that.
A little envious that you knew Harry Browne. He's one of those like Art Laffer or Nassim Taleb who I'd like to get a coffee with and discuss some of their work. But it's just approximately the same envy I fill that mom studied under Milton Friedman. I'm jealous but happy that there are such people out in the world.
Source: thesurvivalpodcast.com