Certified Financial Education Instructor, Macro Enthusiast
Knoxville, TN
Joined June 2015
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Keith Kail retweeted
Hilarious.
The largest household expense facing working families is tax.
As spending, debt and deficits rise, the tax bite invariably increases.
Only the innumerate misplace blame
68% of young Americans view the power of large corporations as a serious threat to their long-term financial security.
62% say the same about the wealth and power of billionaires.
And this concern isn't limited to Democrats.
60% of young Republicans also see corporate power as a serious threat.
The next generation is increasingly skeptical of an economy where enormous companies accumulate power while ordinary workers struggle to build wealth.
Keith Kail retweeted
BREAKING: The average cost of a family’s annual health insurance premium in the US is up +$1,303 YoY, or +5%, to a record $28,303.
This marks the 4th consecutive annual increase of at least +$1,300.
Over this period, the average annual premium for family coverage has surged +$5,884, or +26%.
To put this into perspective, CPI inflation has risen +13% over the same period, or half as much.
Since 1999, the average health insurance premium for a family has soared +$22,494, or +387%.
This represents an average annual growth rate of +6.1%, well above CPI inflation at +2.6% over the same period.
Health insurance has never been more expensive.
Keith Kail retweeted
Capitalism is under attack. Good to hear @YaronBrook of @AynRandInst point out: “It's a fantastic system ... fundamentally moral because it allows individuals to pursue their own happiness.”
Keith Kail retweeted
Our national debt surpassed $40 trillion, yet very few in Washington are worried about addressing this crisis.
I put forth the Six Penny Plan to make even, across-the-board cuts so we can balance our budget in five years. All it takes is cutting six cents from every $1 the federal government spends.
Keith Kail retweeted
If Washington wanted to get serious about addressing affordability, it would start by reining in reckless spending that fuels inflation.
My Six Penny Plan cuts six cents of every dollar the federal government spends. In five years, the budget would be balanced and life would be more affordable once again.
Keith Kail retweeted
BREAKING: Equities now account for a record 48.2% of total US household financial assets.
This includes stocks held directly, as well as equities held indirectly through life insurance companies, private pension funds, government retirement funds, and mutual funds.
This figure has risen +13.9 percentage points since the 2022 bear market.
By comparison, at the 2000 Dot-Com Bubble peak, US households held 38.7% of their financial assets in equities.
For perspective, this proportion never exceeded 20% between 1974 and 1992.
Asset owners are winning.
Keith Kail retweeted
𝚝𝚑𝚎 𝚞𝚜 𝚑𝚊𝚜 𝚊𝚗 𝚞𝚗𝚞𝚜𝚞𝚊𝚕 𝚜𝚑𝚒𝚎𝚕𝚍.
𝚝𝚑𝚒𝚛𝚝𝚢-𝚢𝚎𝚊𝚛 𝚖𝚘𝚛𝚝𝚐𝚊𝚐𝚎𝚜 𝚕𝚘𝚌𝚔𝚎𝚍 𝚒𝚗 𝚊𝚝 𝚛𝚘𝚞𝚐𝚑𝚕𝚢 𝟹%.
𝚝𝚑𝚊𝚝 𝚒𝚗𝚘𝚌𝚞𝚕𝚊𝚝𝚎𝚜 𝚊 𝚑𝚞𝚐𝚎 𝚙𝚊𝚛𝚝 𝚘𝚏 𝚑𝚘𝚞𝚜𝚎𝚑𝚘𝚕𝚍 𝚌𝚊𝚜𝚑 𝚏𝚕𝚘𝚠.
𝚝𝚑𝚊𝚝 𝚖𝚊𝚝𝚝𝚎𝚛𝚜.
Keith Kail retweeted
𝚋𝚞𝚝 𝚌𝚘𝚛𝚎 𝚒𝚗𝚏𝚕𝚊𝚝𝚒𝚘𝚗 𝚌𝚘𝚘𝚕𝚒𝚗𝚐 𝚝𝚘 𝟸.𝟺%?
𝚠𝚑𝚊𝚝 𝚍𝚘 𝚢𝚘𝚞 𝚏𝚎𝚎𝚕?
𝚊𝚕𝚖𝚘𝚜𝚝 𝚗𝚘𝚝𝚑𝚒𝚗𝚐.
𝚙𝚛𝚒𝚌𝚎𝚜 𝚑𝚊𝚟𝚎𝚗’𝚝 𝚛𝚎𝚟𝚎𝚛𝚜𝚎𝚍.
𝚢𝚘𝚞’𝚛𝚎 𝚓𝚞𝚜𝚝 𝚋𝚎𝚒𝚗𝚐 𝚛𝚘𝚋𝚋𝚎𝚍 𝚖𝚘𝚛𝚎 𝚜𝚕𝚘𝚠𝚕𝚢.
Keith Kail retweeted
Man Spends 800 Hours and $3000 To Beat Free Mobile Game buff.ly/kuKlzQ0
Keith Kail retweeted
Savings rate trumps chasing rate of return every time.
You can control savings rate
You cannot control your rate of return.
Keith Kail retweeted
Walmart Just Gave A Dire Warning About US Economy teapawt.net/i/broadcasts/1Oxwbnmqq…
Keith Kail retweeted
“Men and women aren't the same. And they won't be the same. That doesn't mean that they can't be treated fairly.”
— Jordan Peterson
Keith Kail retweeted
The older I get, the more I realize what “rich” actually means.
It’s not the Lamborghini.
It’s:
• Living 10 min drive from work
• Having quiet, and even friendly neighbours
• Being 5 minutes from the gym
• Having money left over to invest every month and knowing how to manage it
• Peace in your own home
• A slow morning
• Drinking your coffee without rushing
• Sleeping with a clear conscience
• Laughing with people who genuinely get you
• Traveling every year
• Waking up naturally without an alarm
• Eating a home-cooked meal with people you love
• Having time to read a book just because you want to
• Enjoying the little routines you used to take for granted
• Coming home to a pet that’s genuinely excited to see you
The older I get, the less I care about looking rich.
I care about having a life that feels rich.
Keith Kail retweeted
These ppl are evil and hopefully will be convicted?? We shall see. But common sense says comply w federal election laws or your electoral votes will not count!
Keith Kail retweeted
If you can do that, you will take the power of your decision making to a whole other level. In many cases, you will be able to test how that principle would have worked in the past or in various situations that will help you refine it, and in all cases, it will allow you to compound your understanding to a degree that would otherwise be impossible. It will also take emotion out of the equation. Algorithms work just like words in describing what you would like to have done, but they are written in a language that the computer can understand. If you don’t know how to speak this language, you should either learn it or have someone close to you who can translate for you. Your children and their peers must learn to speak this language because it will soon be as important or more important than any other language. #principleoftheday
Keith Kail retweeted
None of those things do you really have control over.
Hoping the portfolio can withstand the pressures, survive a protracted bear market and unforeseen life events is not a plan. It’s a hope trip.
To successfully chart your way through distribution requires a few factors.
1) guaranteed lifetime income to pay your basic lifestyle expenses. The principle is to never make withdrawals from variable assets for current income needs. This introduces sequence of return risk. Why even engage in that?
2) a Truly liquid bucket of money to provide up to 5 years of minimum lifestyle needs. This buffers from recession, depression, volatility and life events. Sufficient short term liquidity is essential.
3) variable assets invested for growth to create future guaranteed income to offset inflation. In the up years you can fin next years income needs or increases. In the down years you can use your true liquidity bucket so as not to molest the variable bucket.
4) need a plan for long term care. It’s highly likely you’ll need it and it’s expensive. It’s one of the things that can wipe out your assets without a plan.
5). Don’t leave your beneficiaries inherited IRAs as your plan for legacy. This is a toxic asset for this purpose. Retirement funds should be used for income. Leave your beneficiaries highly appreciated assets or life insurance. Spend the rest.
This is not just my theory. This is proven to work. EY did a fantastic study on retirement and found that these strategies produced superior results.
Trying to live out a variable profile for retirement is like walking through a minefield. It’s stressful and riddled with opportunity to fail.
Don’t base your retirement future on a Monte Carlo simulation. It’s performance theater.
Guarantee the results, enjoy peaceful bliss in retirement and stop listening to these financial entertainers for life decisions where there’s no do-over if you get it wrong and they are not responsible for their advice.
Keith Kail retweeted
Annual income needed to qualify for a mortgage in the US:
January........$93,552
February......$93,792
March..........$97,824
April.............$101,424
May..............$106,128
June.............$109,152 (most recent data)
(National Association of Realtors' housing affordability index)