Late Bloomer Wealth

PreK-12 Educators

Teacher TIP # 61 “Sign Up Immediately…” Check this out!

A friend was closing down his store and in the pile of books he was about to give away, I found a copy of “The Gentle Red Pen: 101 Tips on Becoming the Teacher Who Makes a Difference” by an Award-Winning teacher, Bibi Angola. I started thumbing through the Tips. Guess which one of the following tips caught my attention immediately? Tip #1 “Greet your students at the door with a “hello” and a BIG smile.” Tip #20, “Get to know more about your colleagues.” Tip # 61 “Sign up immediately for a 403(b) plan (Ask your district or financial planner for details). You probably guess which one got my attention! Read on if you don’t know what I do here.

Anatomy of Survival in 2020

This blog post is long. I have a lot to discuss and share because there is a lot to share and discuss. So, I have broken it up in pieces for your reading comprehension and comfort. In the end, I hope you will take from this crisis to plan for anything life could throw at us.
First, allow me to pontificate on this worldwide epidemic for the 10,000-foot level.
A few radical individualists strongly feel that we don’t need a civilization to survive. Fortunately, most people would agree their extreme view is way over the top politically and a dangerous delusion sponsored by hyperactive anti-government crusaders.
In the middle of this unprecedented attack by an unseen enemy, people around the world need a strong central government. The government can respond to emergencies when the country needs devices, money, research for a vaccine and cure.
But a strong government is not just for short term emergencies. It is the bedrock for our modern and advanced civil society which stands on the shoulders of local, state, and federal governments, public protection institutions, and a justice system paid for by the public known as taxes. Civilization itself depends on it.
We are not retreating to a time in human history in which humans had so much freedom, they killed one another for something to eat. This current virus is a great equalizer. COVID-19 knows no gender, race, faith, politics, geographies, country, income, or wealth. We are in this together–the sure way to fix this mess is to work together. We need all the help we can muster, all hands-on-deck!
Second. In this stage of my life, I want to share with you how I planned and learned from my mistakes about previous health scares, national and international crises, and especially financial crises. This is a big topic requiring a lengthy blog post as I have lived, breathed, suffered personal and financial losses, and experienced many national and international crises in my lifetime.
Outside of the Great Depression of the 1930s and WWII, I have lived through those previous crises. My health crisis was personal, but I have discovered that my cancer survivor status and getting wounded in “Nam” also helps and protects me today with COVID-19. I am happy to be alive and want to live a little longer so I will wear a mask to protect myself and my neighbors.
We will get through this current worldwide epidemic. But how will we be at the other end? Many things will change—where and how we work, shop, entertain and socialize has already been changing long before this current epidemic. But this virus and the aftermath will speed up these changes by a milestone.
What I am hoping to offer is a way to exploit and take advantage of the current serious drama. Doesn’t it almost always come suddenly, unpredicted, and uninvited? Isn’t always how we respond to unwelcome events rather than the event itself?
But how we respond, whether positive or negative, does come with a price. I have sometimes painfully learned that crisis, challenges, and upheavals both personal and socially are opportunities to discover and learn new skills and knowledge to evolve to be a better person. Who doesn’t want to improve on ourselves, our families, our community, and our world? Is this worth the uncomfortableness and sometimes pain? I believe so.
What I have learned in my seven decades of living is that extremely negative and painful times don’t last forever, but neither does those wonderful euphoric days. One of the most painful times of my life was losing Dan, the love of my life for 40 years, but I have lived to experience one of the most wonderful days of my life, getting married to Georgiana just 4 weeks ago on March 21st, 2020. Still, I have always been grateful for the many more just ordinary and peaceful days that are amazing about life—the simple things—such as enjoying a beautiful flower growing in my back yard or listening to the birds chirping as spring brings new life, and nature starts all over again.
This blog post is a result of my sincerest opportunity to lift our hearts and our minds based on my experience with previous episodes as one ordinary citizen, who lived in memorable and historic times.
This crisis is not much different than previous in that it is not about just you or just me. It is about all of us, caring for each other.
I hope you will enjoy my post.

Financial Shark Attack and Repellent #6 in this Series

Number 6 in this long series of 67 shark attacks and repellant posts on how to protect yourself with a little financial know-how.
In this series, you will discover shark repellent by finding a genuine fiduciary financial adviser. A fiduciary is a financial professional who looks out after your best interests over theirs. Now that’s REPELLENT against the predatory attacks by unethical and self-conflict professionals who only look at getting commissions and high fees FROM YOU. Make no mistake, in the public K12 world the 403(b) greedy sharks are EVERYWHERE!
A fiduciary financial adviser should construct a well-diversified low-cost Vanguard portfolio like the one I constructed for myself and have used now for 15 years with good success. Fiduciaries are not sharks.

Financial Shark Attack and Repellent # 5 in this Series

Number 5 in this long series of 67 shark attacks and repellant posts on how to protect yourself with a little financial know-how.
In this series, you will discover shark repellent by finding a genuine fiduciary financial adviser. A fiduciary is a financial professional who looks out after your best interests over theirs. Now that’s REPELLANT against the predatory attacks by professionals who only look at getting commissions and high fees FROM YOU. Make no mistake, in the public K12 world the 403(b) sharks are EVERYWHERE!
Suggestions for a married couple when your spouse is not interested in knowing how to manage the family’s finances, this is a must-read! A naive’ widow (and some widowers too) is prime AAA golden goose who is 100% vulnerable to shark attacks. Protect your spouse and your family fortune before it is too late.

Financial Shark Attack and Repellent # 4 in this Series

Number 4 in this long series of 67 shark attacks and repellant posts.
This massive series on how to recognize the difference between conflict-loaded financial advice (aka sales pitches) versus conflict-free objective advice (from a genuine fee-only fiduciary financial adviser).
If you are a K12 teacher be aware. The nicely dressed and smiley sharks are everywhere on public k-12 school campuses and district offices 24/7.

Financial Shark Attack & Fiduciary Repellent # 3 in this Series

Number 3 in this series of 67 shark attacks and repellant posts.
This massive series on how to recognize the difference between conflict-loaded financial advice (aka sales pitches) versus conflict-free objective advice (from a genuine fee-only fiduciary financial adviser).
Most shark attacks occur on public K12 school districts. But everybody will discover how to protect yourself from conflicted advice. Sales pitches are everywhere! The salesforce are comprised of people who are very nice, smart, social, talkative, and nicely dressed. But they are not acting on your best interests because they get a kickback in the form of a commission or annual costs of the retirement plan they sold you, typically annuities.
You will not only recognize the difference between a nonfiduciary financial professional and a fiduciary, this series of 67 posts (one tip per day for the next two months), will clear up the distractions of the financial language. Thus, you can more effectively monitor your current financial adviser, find a new one, or just take matters into your hands and evolve into a DIYer (do-it-yourself). Once you are exposed to the basics spelled out in this series, you will discover that the financial world is not complicated or intimidating as all of us were lead to believe.
If you are a K12 teacher be aware. I repeat. The sharks are everywhere on school campuses and district offices 24/7. Their attacks occur routinely at public K-12 school districts.

Financial Shark Attack and Repellent Series #2

Number 2 in this series of 67 shark attacks and repellant posts.
This series on how to recognize the difference between conflict-loaded financial advice (aka sales pitches) versus conflict-free objective advice (from a genuine fee-only fiduciary financial adviser). While this series focuses on K12 teachers where most shark attacks occur in the corrupted 403(b), everybody will discover how to protect yourself from conflicted advice.
You will not only recognize the difference between a nonfiduciary financial professional and a fiduciary, this series of 67 posts (one tip per day for the next two months), will clear up the distractions of the financial language. Thus, you can more effectively monitor your current financial adviser, find a new one, or just take matters into your hands and evolve into a DIYer (do-it-yourself). Once you are exposed to the basics spelled out in this series, you will discover that the financial world is not complicated or intimidating as all of us were lead to believe.
If you are a K12 teacher be aware. The sharks are everywhere on school campuses and district offices 24/7. Their attacks occur routinely at public K-12 school districts for decades.

Financial Shark Series: 67 Repellents to Protect Yourself

The next 67 posts are human shark attacks euphemistically called sales pitches.
This series on how to recognize the difference between conflict-loaded financial advice (aka sales pitches) versus conflict-free objective advice (from a genuine fee-only fiduciary financial adviser). While this series focuses on K12 teachers where most shark attacks occur, everybody will discover how to protect yourself from conflicted advice.
You will not only recognize the difference between a nonfiduciary financial professional and a fiduciary, this series of 67 posts (one tip per day for the next two months), will clear up the distractions of the financial language needed to monitor your current financial adviser, find a new one, or just take matters into your hands and evolve into a DIYer (do-it-yourself). Once you are exposed to the basics spelled out in this series, you will discover that the financial world is not complicated or intimidating.
One Important Exception: Fee-only financial advisors who charge an out-of-pocket hourly fee and sign a fiduciary oath are NOT sharks.

One year anniversary of Jack Bogle’s Death

Jack Bogle died a year ago and I thought I would publish my journal entry about this great man, one of my personal heroes. Many people believe, as I do, that we should have personal and public heroes. People who made a difference not only in our lives but for the lives of our family and friends, and for humanity too. When one of our heroes passes, it’s important to morn, remember and help carry his or her message to the next generation.

Steve’s Portfolio Y.T.D. Q3 Report 2019

If this year-to-date performance holds up till the new year 2020, I will have the highest gross income in my life.
I have often said that my portfolio is boring. But I have one exception–10.5% return Year-to-Date–January 1st, 2019 to September 30, 2019. The only reason my portfolio is up is that I am broadly diversified in 33% stocks and 67% bonds. As you will see in the graphs and tables, my bonds went up almost 9% and my stock index funds went up almost 20%. Its been a good year for both stocks and bonds so far. It is not the end of the year yet.

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