target2019
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
At the end of each month, beginning March 1990, I have recorded account and fund totals. Maybe each quarter we sit in my office and look at what was, and discuss the future playing out.
Just the other day we also checked my tax prep numbers against the delivered forms, and hit the e-file button.
I'm very comfortable with investments and finances now, after much reading and analysis. My goal is to leave her with as much understanding as she wants and needs.
During the week I sometimes look at details out of curiosity, but more so to follow ideas about individual companies, or look at stocks mentioned here and there. I occasionally invest in something new, with play money.
Others are free to pick management solutions, and enjoy the fruits just the same as we do.
The up and down movements of our account on a monthly basis are very much in line with what we see when glancing at stock and treasury movements in the media. It's the asset allocation (AA) doing what it does.
Our invested assets do lose very small amounts that a pure index would not. We also save on the management side (some say 1/4 of real return yearly).
I realize some have a problem with too-much-looking. But there are real benefits, I feel, if you stick with the AA as a lighthouse.
1. Finding an incorrect or un-expected transaction is something. What is measured is managed. No need to add up everything to find calculation errors, but finding the odd-looking number may be an important clue.
2. In my mind I've managed this by putting myself on the stand, and imagined having to explain how it all works. For that reason, I'm on a path of simplification, eliminating complexity, so that the total portfolio becomes something of an example for my spouse and children. Some of the funds that AUM would force me to use are just not necessary, IMO.
3. Related to #2, I slowly involve my children more and more in this. To some extent they will need to step up and encourage my investing principles remain as is. Over a 5-10 year period, it's been educational for them, and I see their principles slowly changing too.
4. We oversaw the in-law's finances, so I have a very good idea about what it means to have AUM. I never felt comfortable looking at it, but some do. Either way you get to the promised land.
Just the other day we also checked my tax prep numbers against the delivered forms, and hit the e-file button.
I'm very comfortable with investments and finances now, after much reading and analysis. My goal is to leave her with as much understanding as she wants and needs.
During the week I sometimes look at details out of curiosity, but more so to follow ideas about individual companies, or look at stocks mentioned here and there. I occasionally invest in something new, with play money.
Others are free to pick management solutions, and enjoy the fruits just the same as we do.
The up and down movements of our account on a monthly basis are very much in line with what we see when glancing at stock and treasury movements in the media. It's the asset allocation (AA) doing what it does.
Our invested assets do lose very small amounts that a pure index would not. We also save on the management side (some say 1/4 of real return yearly).
I realize some have a problem with too-much-looking. But there are real benefits, I feel, if you stick with the AA as a lighthouse.
1. Finding an incorrect or un-expected transaction is something. What is measured is managed. No need to add up everything to find calculation errors, but finding the odd-looking number may be an important clue.
2. In my mind I've managed this by putting myself on the stand, and imagined having to explain how it all works. For that reason, I'm on a path of simplification, eliminating complexity, so that the total portfolio becomes something of an example for my spouse and children. Some of the funds that AUM would force me to use are just not necessary, IMO.
3. Related to #2, I slowly involve my children more and more in this. To some extent they will need to step up and encourage my investing principles remain as is. Over a 5-10 year period, it's been educational for them, and I see their principles slowly changing too.
4. We oversaw the in-law's finances, so I have a very good idea about what it means to have AUM. I never felt comfortable looking at it, but some do. Either way you get to the promised land.