We’ll start this week with Pragmatic Capitalism’s It’s 2000 & 2007 All Over Again. Has the market come too far too fast? We are just above 1500 on the S&P after 13 years since it was 1500 the first time. Is it time to worry another decline is coming?
Investors’ Quandary: Get In Now? – The Reformed Broker, Joshua Brown tells us why this is the Wrong question. I’ll spoil the punchline, the correct question is ”Why are you out in the first place?” I agree, there’s a never ending cycle of buying just as new highs are reached, so the same people that panic-sold when he S&P dropped below 800 are now thinking 1500 is time to buy back in. I’m in it for the long term, but if I were thinking of reducing our stock allocation it would be just as this money flows in.
At Couple Money, Financial Samurai suggests ways to Beef Up Your Job Loss Emergency Plan. Sam explains why getting laid off from work might not be a bad thing, and I’m convinced he’s right about that. If you’re getting burnt out at your current job, a layoff may be a blessing.
This week there was a lively discussion at Man vs Debt. Joan Otto, Man Vs. Debt community manager, wrote Are 401(k) and 529 Plans a Good Idea When You’re In Debt? In this article, Joan makes the case for skipping the 401(k) for the time it takes to pay off your debt first. I offered the comment that someone should never walk away from the free money of a matched deposit. Joan kindly stood her ground preferring the motivation of seeing the debt reduced as fast as possible. Let me just say this - I know it’s not always about the numbers. There’s psychology, feelings, and sleeping at night. Know what? That’s ok, too. One size doesn’t fit all, and if the math doesn’t impress Joan, I’m not insulted.
Barbara Friedberg talked about The Overlooked Wealth Building Trait. You don’t know what it is? You will.
My friend John Wedding will tell you why A pizza guy shouldn’t make a cardiologist salary. Seems a delivery guy received a $10 tip on 85 pizzas costing over $1400. What do you think? $10 was too little? (Agreed) But how much is too much? $210? And what’s ‘just right’?
This week I had two guest posts I’m proud to share – At Block Talk, H&R Block’s Tax Blog – my Top Ten Tax Audit Triggers. For the tax pros in my audience, let me know if you think I missed any. And at TurboTax – Save More Green with Daylight Savings and Energy Efficiency Credits.
And that’s a wrap for the week. Uh, not yet. Post Operative? Oh, right. Jane had a bit of pain in her stomach this past week, and went to see a doctor on Wednesday. 1PM Doctor Visit, 4PM MRI. And off to a 9PM surgery to remove her appendix. That made for a bit of a stressful week in the Taxpayer household.