Two weeks ago, the WannaCry cyberattack hit more than 300,000 computers in more than 150 countries. This global "ransomware" attack disrupted factories, hospitals, shops, and schools. Wannacry did not discriminate much in its targets. In the past, I've written about the importance of locking down your passwords. My goal today is to educate and inform so that you can better protect yourself.
Runnymede has increasingly been serving as a fiduciary advisor to companies' 401(k) plans so I continue my series of articles on how to tune up your retirement plan. The intended audience is the company and its trustees that sponsor the plan but participants are also advocating for better plans. It is our hope to help employers optimize and better manage their retirement plan. In doing so, we seek to help employees achieve their goal of successfully preparing themselves for retirement.
This week, I want to help you to decipher mutual fund share classes. By far the largest component of 401(k) plan fees and expenses are those associated with managing plan investments. Moving to less expensive funds is an action item that can save money fast and have a huge impact over time.
About five years ago, I was traveling on business to Los Angeles. I was surprised to find kiosks at Alamo that processed my reservation, assigned my rental car, and directed me to the spot for pick up. As I drove out, I marveled, "Wow, I was in and out of there without talking to single person!" Today, this once novel concept is quickly becoming common place.
This week, I attended an evening event in Manhattan called FinCon Masters, billed as "The Premier Event for Top Financial Influencers." The attendees were 100 bloggers, podcasters, authors, and creatives and featured emcee John Garrett, and presentations by James Altucher, Farnoosh Torabi, Lynnette Khalfani Cox, Chris Winfield, Andrew Fiebert, and Michael Schreiber. As an author of this blog, I decided to go to see what I can learn and how to improve the work that we are doing.
I used to pray for more confidence. Perhaps not surprising for a shy kid, I'd pray for the boost of confidence I needed to introduce myself to a stranger, give a presentation, or play guitar on stage.
Your username and passwords are under seige. And the bad guys are getting really good. Don't believe me? Ask the Democratic National Committee about its email accounts, large companies, or government agencies. They've learned the hard way. Massive security breaches are wide spread and taking place daily. When these major entities are at risk, don't think that the username and the same password that you use for multiple sites are safe! The US Securities and Exchange Commission says that cybersecurity is the biggest risk facing the financial system. Security experts estimate that hundreds of millions of hacked usernames and passwords for email accounts and other websites are being traded by the criminal underworld. This means that you may be exposed to cybercrimes either now or in the future.
After listening to the hosts of the popular podcast Reply All (episode #91 The Russian Passenger)1 investigate how their boss's Uber account was compromised, I'd like to provide you with quick actionable tips that you can implement immediately to protect yourself.
There's been a lot of chatter recently. The "fat, ugly, bubble." Is the "bull running out of steam?" Goldman strategists "are becoming more cautious about stock markets."
At Runnymede, we are neither perma-bulls nor perma-bears. Rather our perspectives on the financial markets are based upon research, and our market outlook is reflected in the positioning of our clients' portfolios. In fact, we have been bullish on the market since July 2016. So where do we stand right now with the bull market having recently celebrated its eighth birthday? After much thought and careful reflection, here are five reasons why the bull market is likely to go higher.
Runnymede has increasingly been serving as a fiduciary advisor to companies' 401(k) plans so I will be writing a series of articles on how to tune up your retirement plan. The intended audience is the company and its trustees that sponsor the plan but participants are also advocating for better plans. It is our hope to help employers optimize and better manage their retirement plan. In doing so, we seek to help employees achieve their goal of successfully preparing themselves for retirement.
The bull market in stocks celebrates its eighth birthday today. As it turns out, it's also my birthday. This got me thinking about what was happening in the world when I turned 8. In 1980, the Pac-Man arcade game was released. Camcorders and fax machines were cutting edge technology. A whole lot of people were watching TV to find out Who Shot JR? on the popular soap Dallas. The yearly inflation rate in the U.S. was 13.6%. The average cost of a new house was $68,700. The average cost of a new car was $13,650. I'll also mention that a (government subsidized) hot school lunch cost $0.65 and milk was $0.05. Okay, enough about me.
Last night before going to bed my wife asked me, "Can you turn on the humidifer?" "Sure," I said burying my head back into my laptop to finish some work.
This morning the first thing I heard was, "How come you didn't turn the humidifier on?" Oops. After completing what I had been working on, I put the laptop down and quickly fell asleep.
And so, today, I write about ACTION always beats INTENTION.
IMPORTANT DISCLOSURE INFORMATION
Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Runnymede Capital Management, Inc.), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Runnymede Capital Management, Inc. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Runnymede Capital Management, Inc. is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of Runnymede Capital Management, Inc.’s current written disclosure statement discussing our advisory services and fees is available for review upon request.