Latest news with #MorganHousel
Yahoo
9 hours ago
- Business
- Yahoo
3 Ways To Financially Plan For the Unexpected in Retirement, According to Morgan Housel
You may think that if you have a retirement plan that covers your day-to-day expenses, you're in good shape, but the truth is, you also need to plan for expenses that go beyond the essentials you're paying for now. What if you have you an unforeseen medical expense? What if your investment portfolio takes a nosedive? Be Aware: Read Next: Financially planning for the unexpected is essential to ensure you can weather any storms that may come your way in retirement. According to 'The Psychology of Money' author Morgan Housel, here are three ways to do so. Having extra liquid money in the bank will ensure you're prepared to cover unexpected expenses that may come up during retirement years. 'The first line of defense for a lot of people can be a big chunk of savings,' Housel told Lincoln Financial as part of its 'The Action Plan' video series. 'You don't need to be saving for anything specific. It's your emergency fund — it's right there.' This can also serve as a safety net if you've underestimated your living costs. 'Having room for error in your finances is so important in the long run as well,' Housel said. Find Out: While your emergency fund may be able to handle one-off costs, it's also a good idea to invest in the appropriate insurance coverages you many need. 'Insurance, after your emergency fund, can be great,' Housel said. 'It's your medical insurance, life insurance — all that you have.' Housel recommended annuities as a way to provide guaranteed income throughout your retirement. This will remove a lot of the financial uncertainty that can occur during this phase of life. 'So much of the financial industry is based off of, 'How do I become wealthier?' but it can be overlooked how much people just want to remove uncertainty from their life, and be protected on the downside,' he said. 'Do it with something like an annuity, where you're not going to become the richest person in the world doing it, but you're removing a lot of uncertainty in your life,' Housel continued. 'That money is going to be coming in for your expenses in the future.' More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 10 Genius Things Warren Buffett Says To Do With Your Money Here's the Minimum Salary Required To Be Considered Upper Class in 2025 This article originally appeared on 3 Ways To Financially Plan For the Unexpected in Retirement, According to Morgan Housel Sign in to access your portfolio
India.com
21 hours ago
- Business
- India.com
10 Stock Market Books That Give Vital Lessons In Financial Literacy
photoDetails english 2925089 Updated:Jul 02, 2025, 07:29 AM IST 1. The Intelligent Investor 1 / 10 Written by Benjamin Graham, this classic introduces fundamental investment principles and the concept of value investing. The book emphasises the importance of thorough analysis and the potential of undervalued stocks. 2. The Psychology of Money 2 / 10 This book by Morgan Housel is one of the most insightful books on stock market learning. It offers an insight into the behavioural aspects of investing. It highlights how emotions, habits and decisions lead to financial success. 3. Think and Grow Rich 3 / 10 In this classic book, Napoleon Hill explores the psychological foundations of success. The author outlines the principles of amassing wealth, and all but the most basic of them apply directly to stock market investing. 4. The Richest Man in Babylon 4 / 10 Written by George S. Clason, the book discusses saving, investing and debt avoidance by people who are new to the market. 5. Rich Dad Poor Dad 5 / 10 The book by Robert Kiyosaki offers vital lessons in financial literacy as well as ideas concerning investing and building passive income streams. 6. Security Analysis 6 / 10 This book by Benjamin Graham and David Dodd is essential reading for value investors who want to learn the advanced techniques of analysing financial statements and identifying undervalued stocks. 7. The Warren Buffett Way 7 / 10 In this book, Robert G. Hagstrom explores the investment strategies and philosophy of the legendary investor Warren Buffett. It offers valuable insights for anyone interested in the world of finance and investment. 8. One Up On Wall Street 8 / 10 Authored by Peter Lynch, the book offers valuable insight about how a regular investor can make high returns on their investment by using a basic investing approach. 9. How to Make Money in Stocks 9 / 10 Authored by William J O'Neil, the book offers practical advice and proven strategies for navigating the complexities of the market and making informed trading decisions. 10. The Little Book That Still Beats the Market 10 / 10 Joel Greenblatt wrote this helpful book that explains how to invest in the stock market using effective market strategy.
USA Today
12-06-2025
- Business
- USA Today
Being rich and being wealthy are not the same thing. What's the difference?
Being rich and being wealthy are not the same thing. What's the difference? Show Caption Hide Caption The wealth gap: $400 billion versus the median American net worth The world's richest person had a net worth of $400 billion. This is the visual comparison of the U.S. wealth gap. One of the unique aspects of my job as a family and consumer sciences educator is the coaching I'm able to conduct with individuals about personal finance and consumer behavior. My conversations rarely begin with the components of a good budget. Instead, we focus on the relationship with money, including attitudes and habits. I'm always looking for more resources about why people do what they do with money that will help me in my coaching conversations. And, admittedly, in my own quest to be wise with my finances. I recently read The Psychology of Money (subtitle — Timeless lessons on wealth, greed and happiness) by Morgan Housel. Housel was a columnist for The Wall Street Journal. I found myself nodding my head in agreement with so many of the themes of the short, yet thought-provoking chapters. Here are some of my key takeaways from the book. Wealth is what you don't see One of my favorite lines in the book is 'When most people say they want to be a millionaire, what they might actually mean is 'I'd like to spend a million dollars.' And that is literally the opposite of being a millionaire.' Wealth is financial assets that haven't been converted into stuff we can see. It is the cars, jewelry, clothes, you name the item, not purchased. There is a difference between being rich and being wealthy. Rich has to do with current income. Wealth is income not spent. I have long appreciated the research by Barbara O'Neil at Rutgers University about the connections between health and wealth. Americans often overestimate the number of calories burned in a workout and underestimate the number of calories consumed in a meal. In case you missed it: Millennials and Gen X want to share wealth now. Boomers will wait until they're dead. Several years ago, a colleague pestered my husband about his Mountain Dew habit. One day, David realized it takes about 20 minutes of running to burn off the calories in just one can of pop. It just wasn't worth it anymore, so he completely quit drinking soda. The same pattern is true with wealth. Many people overestimate their income and underestimate how much they are spending. We are quickly losing the last generation that had the general mindset of saving money. Because we often do not witness the restraint and self-control of not spending money, we are raising generations that associate having money with spending that money. Controlling your time is the highest dividend money pays In 2019, a poll of more than 150,000 people across 140 countries revealed that Americans felt more worry and more stress than people in other places. We are the richest nation in the world. In the history of the world. But nothing indicates we are happier as a result. Research suggests having control over our time — to do what we want, when we want, with the people we want — is the lifestyle variable that makes people the happiest. Ironically, in this era of constant communication and connection, we tend to feel less in control of our time than ever before. And thus, less happy. Gerontologist Karl Pillemer interviewed 1,000 elderly Americans for life lessons and advice. They did not suggest working as hard as possible to buy the things you want or to try to be as wealthy as the people around you, or to choose work based on future earning power. Not even close. They valued spending quality, unstructured time with friends and family and being part of something bigger than themselves. How are you doing in your relationship with money these days? Today, I'll leave you with this quote from Warren Buffett: 'Someone is sitting in the shade today because someone planted a tree a long time ago.' Emily Marrison is an OSU Extension Family & Consumer Sciences Educator and may be reached at 740-622-2265 or marrison.12@
South China Morning Post
21-05-2025
- Entertainment
- South China Morning Post
How silent book clubs are rising around the world as readers enjoy the no-pressure events
On a Saturday morning in April, readers gathered in a park in Indonesia's capital Jakarta for a monthly book club. Around 260 strangers sat on the grass, heads down, captivated by what they were reading. It almost looked like a regular book club, but there was a twist. Everyone here was reading something different: from fantasy, romance and religion to business and self-help books. Titles read included Death on the Nile by Agatha Christie, The Vegetarian by Nobel laureate Han Kang, and The Psychology of Money by Morgan Housel. Non-traditional book clubs have gained momentum around the world in recent years. Silent Book Club Jakarta is part of a movement that spans from the US to Taiwan, where readers reject the traditional book club format and bring a novel of their own choice and no judgment for uninterrupted reading time. All types of book formats are encouraged at Silent Book Club's events, from hard copies to Kindles and even audiobooks. Photo: Silent Book Club Silent Book Club's premise avoids many of the things people do not like about traditional book clubs: the monthly book pick, questions and quarrels about how people interpreted it, and pressure to read it.
Yahoo
12-04-2025
- Business
- Yahoo
3 Ways to Keep Your Portfolio Safe During Tariff Volatility
Tariff volatility continues to rattle the stock market with the major indexes swinging several percentage points in recent sessions. The S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) both fell into bear market territory (a drawdown of at least 20% from a recent high) only to bounce out of it days later after President Trump reversed course with many of his tariffs. This volatility can be challenging to handle, but there are ways to prevail. Here are some ideas to consider now. It's human nature to want to take action in response to a threat. And seeing a portfolio's balance plunge as equity prices flash red can feel like a threat to your financial stability. As counterintuitive as it may seem, the best course of action when faced with market volatility can be to do nothing. In other words, avoid a fight (trading your way out of a bad situation) or flight (selling and running for the exits) response. Your portfolio reflects the amalgamation of past decisions. When volatility is running high, it can be helpful to pause and reflect on why you bought a stock in the first place. The stock price may have fallen in the last week in lockstep with the broader market, but that price action likely has nothing to do with the long-term investment thesis. Long-term investing starts with the understanding that you should be buying a stock based on where it will be several years from now, not where it is today. The current stock market sell-off is a response to changing near-term forecasts. Many analyst targets had the S&P 500 closing higher on the year, but those gains seem unlikely if tariffs throw a wrench in supply chains and profits. So, short-term investors and Wall Street firms may slash forecasts and overreact to near-term projections. At times like this, I find it helpful to lean on a lesson I learned from The Psychology of Money, written by Morgan Housel. In the book, Housel describes the stock market as a field upon which many games are simultaneously being played. You have short-term traders and long-term investors; institutions and retail investors. The point is that not every dollar invested in a stock has the same motive. Folks who ride a stock higher to make a quick buck may be the same ones who dump the stock the second there's an inkling of newfound risk. Meanwhile, folks who have been in stock for several years or decades are less likely to have a knee-jerk reaction to any single piece of news. Over the long term, a stock price moves based on fundamentals, but in the near term, it can merely reflect changes in sentiment by speculative traders rather than investors. Accepting that different games are being played on the field and how they all feed into a stock's price at any given time can help you filter out the noise and understand that sometimes, price action has little to do with the long-term returns a company can offer. Outside-the-box thinking can lead to finding hidden gem companies at a great value. But there's no extra credit in the stock market for coming up with a brilliant idea no one has ever thought of. In fact, sometimes, the best ideas are hiding in plain sight. Well-run, financially sound companies like Apple (NASDAQ: AAPL) and Nvidia (NASDAQ: NVDA) have seen their share prices plummet. Both stocks are down over 15% year to date as of this writing. It may seem too obvious to buy shares of two of the most valuable companies in the world on sale, but there's no need to discount an investment idea just because it is simple. Apple has been crushed because of its dependence on China. While international exposure is normally an advantage because it adds diversification, tariffs would make it a weakness because Apple's supply chain depends on manufacturing in Asian countries like China, India, Japan, South Korea, Taiwan, and Vietnam. In the four trading sessions following President Trump's tariff announcement, Apple stock fell a staggering 23% as investors faced the grim reality that Apple's margins could tumble if costs increase due to tariffs. Nvidia is in a league of its own when it comes to technological prowess in designing graphics processing units for artificial intelligence (AI) applications. However, Nvidia depends on its biggest customers -- companies like Amazon, Microsoft, Alphabet, Meta Platforms, and Apple -- to spend big bucks on AI. An economic slowdown or recession could lead to a pullback in capital spending from these key customers, leading to a slowdown in growth. What's more, tariffs could increase Nvidia's costs and further compress margins. If tariffs stick around, the near-term outlook for companies like Apple and Nvidia will be undeniably weaker than it was just a few weeks ago. But both companies have incredibly strong balance sheets, industry-leading products, high margins, and experienced leadership -- they should be able to adjust and deliver profits even if tariffs persist. Apple and Nvidia are two of the biggest names in the stock market and popular picks for any investor. And amid the current uncertainty, they're also excellent examples of beaten-down growth stocks that are even more attractive buys now. In the moment, it's easy to get swept away by narratives that make it seem like the entire market is in dire straits. But oftentimes, swings in stock prices can be disconnected from a company's true value. The pandemic was an excellent example of why a company's value shouldn't necessarily change just because a few quarters of earnings are down, especially if the business has the means to endure an economic slowdown. Volatility is the price of admission for unlocking the power of compounding wealth in the stock market, so staying even-keeled during times like this is paramount. Before you buy stock in S&P 500 Index, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and S&P 500 Index wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $509,884!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $700,739!* Now, it's worth noting Stock Advisor's total average return is 820% — a market-crushing outperformance compared to 158% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 5, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Daniel Foelber has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Meta Platforms, Microsoft, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. 3 Ways to Keep Your Portfolio Safe During Tariff Volatility was originally published by The Motley Fool
