On this episode of "On the Money" the retirement planning specialists at Ruedi Wealth Management discuss the recent market movements, the FIRE movement, and how to avoid lost investment accounts.
Video 1: Issues with Prepaid Tuition and Recent Stock Market Movements
(1:59) Prepaid Tuition Plan Issues
(4:05) The Economy; Little Talk of Recession
(6:01) US and International Stock Returns
“I noticed (as of Friday April 19th) people who are invested in a balanced type of portfolio – 60% globally diversified stock portfolio and 40% short-term, high-quality fixed income, should be at all-time highs. On an equal-weight basis, the S&P 500 and Nasdaq index are both at all-time highs.”
Paul A. Ruedi
Video 2: The FIRE Movement and Avoiding Lost Investment Accounts
(4:30) The FIRE Movement
“The main risk is just delaying all gratification. The benefits are that it is getting people to focus on being frugal and assessing what really brings them happiness vs. extraneous things that don’t really bring them happiness and stand in the way of their financial independence.”
David Ruedi, CFP®, RICP®
“By being frugal and spending less now, not only are you accumulating more money now, you need less money to replace your spending.”
David Ruedi, CFP®, RICP®
“It is okay to make a lot of money; it’s not okay to need to make a lot of money”
Paul A. Ruedi
(23:23) 5 Things Rich People Do
(26:35) Avoiding Lost Investment Accounts
“In the vast majority of households one person handles the investments and assets – and they tend to have a good grasp on things but then they either pass away or have a serious health issue (cognitive decline or dementia) and then their spouse has no idea where everything is, what is it invested in, etc.”
David Ruedi, CFP®, RICP®
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