Wednesday Reading List

June 30, 2021

ICYMI: Improving Retirement Planning, or Why Congress Doesn’t Get It – Improving retirement planning requires education and simplification, not the patchwork approach Congress is now taking. There are some worthwhile improvements being proposed, but ultimately Congress doesn’t go far enough in addressing the retirement planning gap. Here’s why and what they could do instead.

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Our latest blog post looks at our decision to adopt a hybrid work policy for the sake of our employees and clients and shares some exciting Heritage news.

A Look at Post-Pandemic Office Life by Heritage Financial

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Reason 10,000 and counting of why I am leery about investing in cryptocurrencies. The Fed is moving to create its own digital dollar.

To counter bitcoin and other cryptocurrencies, momentum grows for the US dollar to go digital by Jim Puzzanghera

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There are two definitions of dollar cost averaging:

1. Investing money over time as soon as you have it (i.e., buying in your 401k every 2 weeks).

2. Slowly investing a large amount of cash.

(1) is generally good, (2) is generally bad.

Thank you for coming to my Ted talk.
— Nick Maggiulli (@dollarsanddata) June 29, 2021

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Lots of things look easier and more glamorous from the outside in. Take the time to understand this and don’t overestimate others’ abilities, or downgrade your own.

Harder Than It Looks, Not As Fun as It Seems by Morgan Housel

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Every once in a while someone you never heard of becomes someone you can’t stop hearing about. Welcome to Joe Manchin’s 15 minutes. This New Yorker profile catches us up on a powerful Senator.

The Man Who Controls the Senate by Evan Osnos

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There’s a belief that the bond market is the smart money on Wall Street. This article punctures that by looking at how the bond market actually does in predicting inflation and explaining that not all bond purchasers have the same motivations so it’s hard to make conclusions based on the market.

Not Even Bond Traders Can Predict the Future by Allison Schrager

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Book Recommendation

The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing by Michael Mauboussin

This is not a new book. It came out in 2012, but it is a very good and important one. “Much of what we experience in life results from a combination of skill and luck. The trick, of course, is figuring out just how many of our successes (and failures) can be attributed to each—and how we can learn to tell the difference ahead of time.“

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