What to consider when making big purchases. If you’re reading this, you were born incredibly lucky. We shouldn’t let anyone named Hoover be President ever again.
What to consider when making big purchases (Bloomberg)
Nice piece on considerations to make when thinking about a large expenditure. Knowing how much you can afford to spend is key but my experience is most people don’t know their budget. Some even think the bank won’t lend them more than they can afford to borrow.
If you buy based on the amount the bank or finance company are willing to lend, prepare to make sacrifices in other areas. Banks assume you don’t spend money on your children, take vacations or save for retirement.
Absolute success is luck. Relative success is hard work. (James Clear)
The best argument I’ve seen about luck versus hard work. I especially like Gary Player’s quote – “The harder I work, the luckier I get”
Stock market returns during Presidential terms
The average annual return for the past 23 presidential terms has been 10.3%. Regardless of what happens during this election, history says the stock market will be alright.