My latest: Your Safe Retirement Withdrawal Rate
Part two of my Planning for Retirement series reviews how much money you need to retire by determining a safe withdrawal rate during retirement.
The Pandemic Housing Boom Vs. the 2025 housing market, as told by 2 maps by ResiClub
In April, 2022 most of the country had less inventory for sale than pre-pandemic 2019 levels. It’s a different story now as only the Northeast, pockets of the Midwest and scattered other countries nationally are still below pre-pandemic levels. “Big picture: The housing market is still undergoing a process of normalization following the surge in housing demand during the Pandemic Housing Boom, when home prices went up too much, too quickly. To date, that normalization process has pushed some markets—including Austin (mid-2022-present), Las Vegas (second half of 2022), Phoenix (second half of 2022), San Francisco (second half of 2022), Boise (mid-2022–2023), Punta Gorda (2022–present), Cape Coral (2023–present), and Tampa (2024–present)—into correction-mode. In some other areas, so far, it has caused home price growth to stall out. Meanwhile, some markets still remain tight and have only seen a deceleration in home price growth from the highs of the Pandemic Housing Boom.”
Housing Starts Rise in April. Drop in Permits Tells the Real Story, However. by Wells Fargo
Although the monthly bounce in overall starts is an encouraging sign that projects continued to move forward despite Liberation Day volatility, a surprisingly steep decline in building permits is the latest evidence that residential construction is slowing as builders contend with high mortgage rates, an elevated inventory-to-sales ratio and increased policy uncertainty.
Such Attractive Yields in High-Grade Munis Are Rare and May Not Last Long by Kiplinger
Munis are in good position to deliver strong returns this year, with tax-equivalent yields close to 7% on an after-tax basis, and provide a ballast in the event of an economic downturn.
Why International and Why Now by Charles Schwab Asset Management
International stocks have outperformed U.S. stocks since this bull market began in October, 2022. People are noticing it now because it’s so much more pronounced. Missed out? It’s not too late to rebalance as these relative performance cycles last a long time.
Book Recommendation
The Last Juror by John Grisham
In 1970, one of Mississippi’s more colorful weekly newspapers, The Ford County Times, went bankrupt. To the surprise and dismay of many, ownership was assumed by a 23 year-old college dropout, named Willie Traynor. The future of the paper looked grim until a young mother was brutally raped and murdered by a member of the notorious Padgitt family. Willie Traynor reported all the gruesome details, and his newspaper began to prosper. The murderer, Danny Padgitt, was tried before a packed courthouse in Clanton, Mississippi. The trial came to a startling and dramatic end when the defendant threatened revenge against the jurors if they convicted him. Nevertheless, they found him guilty, and he was sentenced to life in prison. But in Mississippi in 1970, “life” didn’t necessarily mean “life,” and nine years later Danny Padgitt managed to get himself paroled. He returned to Ford County, and the retribution began.
Boston Corner
Boston Fed advisory council member Chu focuses on revitalizing Vermont’s economy
