ACCOUNTABLE UPDATE
"See Through"
You’ve seen the commercial.
A surgeon removes his mask as he is finishing an operation when a nurse observes, “You’re not Dr. Stewart!?”
To which he replies, “No, but I did stay at a Holiday Inn Express last night.”
In a financial planning version of life imitating art, there was a story (Exhibit 1) widely reported this week about Terry Robison, a Houston man that posted his plan on Facebook for how he is going to live out his old age in a Holiday Inn instead of a nursing home.
“Bulls Return,” read the headline on a daily newsletter that I subscribe to. The article wasn’t referring to next month’s Rodeo Austin. The subject was the stock market, or more specifically, the mostly upward price movement since the big selloff last Christmas Eve.
But if the bulls (buyers) have returned, that implies that they left. If they left, where did they go?
I recently read that the average age of a client that works with a financial advisor is 62 years old. That led me to ponder one of biggest dilemmas that investors face in life. When we are young, we lack money and experience. Yet by the time we have accumulated enough money and experience, we are short on time.
As 20th century Irish playwright George Bernard Shaw once quipped, “Youth is the most beautiful thing in this world--and what a pity that it has to be wasted on children!”
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