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Tag: The New York Times
Do Politics Belong in Your Financial Plan?
With politics being everywhere in this heated time, it’s natural to wonder, do politics belong in your financial plan? A recent article in the New York Times looks into just this question.
The key point: as an investor, your advisor’s views should have no part in your plan. At HIG, you and your personal wealth goals are what matter to us. If you want your politics to be a part of your future goals, we will help you decide how to do that. Our politics will not enter the picture.
If you are not a client of ours, and are worried that your advisor’s political outlook is influencing their advice to you, here are some suggestions taken directly from NYT the piece:
- If you think politics factor into your adviser’s strategy for your nest egg, ask for explanations. A good retirement planner will be able to articulate how the actions taken by politicians can — and can’t — affect your portfolio.
- When emotions are running high, resist the urge to dismiss your adviser on the spot — a knee-jerk reaction when it comes to your retirement security isn’t a great idea. Don’t do anything that’s not part of a long-term investing strategy.
- Talk to your adviser about how specific economic policies affect your portfolio. Politics might be about people, but your investment decisions should be informed by the ramifications of, say, bond-buying or tax-code changes.
- Try to keep an open mind. A different viewpoint from one you hold might give you valuable insight for your long-term savings goals.
- If you want to integrate your political views more directly into your retirement planning, some advisers suggest working with someone who has knowledge and expertise in E.S.G. (environmental, social and governance) investing strategy.
At HIG, we have a single-minded focus on putting the odds of your long term success in your favor. And, as fiduciaries, we are legally bound to work in your best interest. Period. We are passionate about what you need from your plan to help you live the life you want, and give you peace of mind.
So, our message during this period will sound familiar to our long-term followers: focus on what you can control, keep calm, and take the long view. Your nest egg and legacy will thank you.
Sometimes we run out of time and space to highlight everything we’ve loved reading in the last month. Based on the talk in the office, the following items deserve your attention, even if they didn’t get their own dedicated post.
- The Randomness of Global Equity Returns – We love this piece by Dimensional and you will too.
- Meet the Money Whisperer to the NBA Elite – We enjoyed this NYT profile.
- 6 St. Louis Dads Highlighted in St. Louis Magazine and you’ll know one of them.
- Our friend John Jennings nails it with this interesting fact of the day.
- Podcast Love from St. Louis Magazine
Respect to Jack Bogle
Even in the normally staid world of fiduciary investment advice, we have our stars – heroes who inspire us with the brave choices they make to better the lives of investors.
Vanguard founder John C. “Jack” Bogle, who passed away on January 16th at age 89, was among the brightest (and most stubborn) stars of them all. The world lost a giant that day, as evidenced by the instant outpouring of respects paid from around the world.
Bogle refuted the status quo and gave birth to the retail version of index investing in the 1970s. He was energized by the crusade until his dying day. In the video homage below, The Wall Street Journal columnist Jason Zweig observed, “[Bogle’s career] spanned over six decades of change and growth in the industry that he helped to transform.”
To pick a sample from the deluge of sentiments expressed in the media, we especially appreciated a New York Times piece by Ron Lieber and Tara Siegel Bernard, “The Things John Bogle Taught Us: Humility, Ethics and Simplicity.” Many of our other favorite financial voices of reason are represented here, including Behavior Gap’s Carl Richards, and Manisha Thakor, herself a worthy crusader for women and wealth.
We’d say RIP, but Jack Bogle didn’t want people to rest. He roots for us to fight for what’s right, even when it isn’t popular. He was a relentless agitator for good, and his spirit inspires us to keep pushing for better solutions for investors. Every single day.