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Personal financial life planning |
Archive for: January 2009January 29, 2009 Set out to be more self reliantThe more responsibility you take for your own financial plans and management, the better the chances for success. Complete outsourcing can be expensive and risky, while devoting personal time, attention and effort to it will most likely bring great rewards. … Allocate assets and products, and more kinds of them, wiselyClosely related to broad and creative goal-setting and synchronous balancing of many factors is giving robustness and resilience to your plans by involving more asset and product classes. It makes sense to step even further, beyond financial assets, and think … Learn lessons of the past, and from long term running of numbersIt became obvious recently that relying on the lessons of recent history only can gravely mislead us. Real life examples and review of both historic and long-term made-up scenarios can help in finding best personally viable asset-allocation strategies, and protect … Creative play with widely different planning scenariosOne of the trappings of planning is that memories of the past, especially the most recent ones, constrain our ability to even consider potential futures significantly different from what we already know; it’s very beneficial to fight this tendency. Related … Four useful avenuesBefore forking into four more or less separate branches of my recommendations, in this section you can read and watch some thoughts about dealing with the future in general, the roles and limits of forecasts, and dealing with risks and … A few straight talking punditsThis section is mainly a collection of video clips and other documents with a few connecting comments. These ‘gurus’ differ from the mainstream, and are recommended as sources to heed to. Some of the documents are embedded in this page; … Why listen to me? … take it as chest thumping if you wantSelection of a few excerpts from newsletters during the last decade are meant to illustrate the benefits of the broad-based, holistic, systemic approach. It’s also a demonstration of the falsity of claims that the current crisis was unpredictable. Some silver lining is still there. Ideas on what to do now.While despair and other negative reactions to the ongoing financial and economic crisis are understandable, one can also see it as an opportunity or perhaps even a potential savior. Collectively, we were steamrolling ahead on an unsustainable path, with seemingly … |
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