CBC Financial Commentator’s Summary on ending her 12 years on the program

• She learned that for the past 12 years  investors should invest for the long-term.
• They should diversify.
• They should not chase performance.
• This period was good for financial journalists. It was bad for investors

She mentioned the 2000 Technology crash,  the Madoff scandal and the 2008 financial crisis as  significant negative benchmarks for investors.  And she pointed out that markets are still  below their levels of 12 year ago.

My comments:

• She could have said that mutual funds offered no downside risk -a feature that fund companies, advisors and texts said were part of the mutual fund story.
• She could have said that buy and hold was not a good strategy and may never be again.
• She could have said that investors should monitor the management of the fund companies.
• She could have said that investors should ask the advisor what qualifications that advisor has to make investment suggestions.

But it was her 12 years. And it was not mine.

This is how it went.

“What was your career?”

He replied ” I worked in ………. as a  public servant.”

“When did you retire?”

“I retired at age 55 with an early pension.  I could not stand to continue working  until age 65.”

I  then remarked that it was possible that you could receive retirement benefits that were indexed for the remainder of your life and if you lived to age 95 you would be receiving continued income  for a period longer than you worked as a public servant.

To which he replied “yes that could happen.”

How are you  doing I said.”   I am getting by he replied

 

Think about that!    

• His pension will continue to be  paid by the taxpayers.  
• He required no education for the position he worked.

Lessons remembered from a Business Coach

It has been some years since I was in a class with a business coach. Without going back to notes and worksheets I remember the following.

• “When the trough gets smaller the pigs get meaner.”     During tougher and strained times in whatever business or profession you are in ask yourself if this is not true?
• At different times in your workplace ask yourself if minor and major changes have to be made to help move you ahead?        Then make them.
• When you are working do so. When your are not working be free from all aspects of your work.
• It is best if you work without a desk or office.

Lesson learned if not practiced!