The Master’s Minute

Helpful Tools and Tips

The Master’s Minute – Retirement Income (Part 2)

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Today the retirement income landscape looks significantly different than it did in past generations. Previously, it was commonplace for large corporations to fund pension plans that would provide a fixed monthly income for their employees throughout retirement. As you are probably aware, today the typical employer provides a retirement savings plan, most commonly a 401k, where usually both the employee and the employer jointly contribute to that savings plan. This… Read More

The Master’s Minute – Retirement Income (Part 1)

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Over the next few weeks, we will be writing about the different elements of a successful retirement income plan. We still use the word “retirement” to describe our years after our main occupation but, of course, the definition of retirement is much different today than in the past. Maybe a better way to think of retirement these days is to think about what it takes to plan for successfully living… Read More

The Business of Money – Compounding and Reinvestment

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You have undoubtedly heard about the power of compounding interest. It is said that Albert Einstein called it ‘the eighth wonder of the world,’ and Warren Buffet, one of the best-known investors of all time, knows this concept well. He has earned 99.7% of his current net worth after he turned age 50 and approximately 86% after turning 65. None of us aspire to become as rich as Buffet, nor… Read More

The Master’s Minute – Nearing Retirement? Talk to Your Spouse

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After 23 years at Master’s, I will retire at the end of this month. As I plan for retirement, I have been reminded how important it is to communicate with my wife. Communicating with LaNita has been essential at all times in our marriage, but neglecting communication as we approach this significant life transition could produce some unintended outcomes for both of us. You, too, may be nearing retirement. Here… Read More

The Business of Money – Self-Serving Bias

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I am a big golfer, and I like to say that golf is a microcosm of life. Sometimes you hit a great shot, but get a bad break, and the ball ends up in an undesirable location. Other times, you hit a poor shot but get a good break, or as we would say on the course you “get away with one”. Most of the time, the result follows the… Read More

The Master’s Minute – Just Control What You Can

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I’m a fairly intense Philadelphia sports fan. I won’t bore you with the details, but I was reading an article about one of the Philly sports teams this week, and a quote in the article grabbed my attention. It paralleled one of the points Garry made in his Master’s Minute post last week about staying focused on what you can control. Unlike many athletes, this young man seems to be… Read More

The Master’s Minute – The Need for Clarity and Anticipation

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People naturally crave certainty. We want to know what will happen, when it will happen and how it will affect us. While we all require different levels of certainty to be productive, we are all affected negatively by uncertainty. Uncertainty can cause higher levels of stress and impede our decision-making process. The reality is that uncertainty is part of life. We can never know what will come next and how… Read More

The Business of Money – Lessons from In-N-Out Burger

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I recently read an article [1] profiling In-N-Out Burger, a fast-food chain based in California that has a cult-like following for their burgers and fries. In-N-Out recently opened their first restaurant in Colorado, and the wait time on opening day was up to 14 hours [2] at one point in the day. Customers at the end of the line would not reach the drive thru window before the restaurant closed!… Read More