When discussing capital markets we often talk about not wanting to buy at the top or sell at the bottom, while noting that paradoxically one never knows when the actual tops and bottoms are, except retrospectively. Which is absolutely true.
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I don’t know about you, but over the last couple of years my homeowner’s insurance rates have been going up. From 2023 to 2024 they went up somewhere around 35-40%, then maybe 7% last year.
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A week or so back I ran into a woman I know who’s a very thoughtful, diligent Medicare specialist: her sole job is to help people pick out Medicare plans. “How’s it going?” I innocently asked.
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There is a lot of hullabaloo about interest rates these days. People got used to the ultra-low interest rates of the post-financial crisis, which blended so effortlessly into the even lower interest rates of the COVID and post-COVID era that people lost sight of how absurdly cheap money had been in the 2010s.
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I was talking to someone the other day with a net worth of $10 million or so who said with a straight face “I’m not wealthy.” I checked myself from correcting her then and there, though I really wanted to.
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When do you need the money? Everything flows from this question. But it can be so easily misconstrued. If you need your money soon, you shouldn’t take any risk with it, which means you can’t expect too much by way of returns.
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Most of the time, people have in mind the nominal or face value of their money: as in “How can I make it so the numbers I see when I look at my account don’t go down?” This of course is the simplest thing in the world.
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