Random Roger's Retirement Planning

JULY 22, 2022

In 2001 I got laid off from Schwab, sold our house in Scottsdale while I went to work at Fisher Investments for most of 2002, keeping our cabin in Walker which we moved into full time late that year and have been living in Walker ever since. In a way we've been retired since 2002. Like I said, we took calculated risks.

Investments 75

Investments Investing Taxes Retirement 75

Random Roger's Retirement Planning

MARCH 11, 2025

My first introduction to the concept was from my time at Fisher Investments in 2002. The concept of barbell strategies, which are a form of capital efficiency, in this context is sort of borrowed from Nassim Taleb who years ago talked about putting 10% of a portfolio in very risky stuff and the other 90% in very safe things like T-bills.

Portfolio 59

Portfolio Taxes Management Investing 59

Fortune Financial

OCTOBER 1, 2022

Since 2002, overall carloads on Union Pacific’s network have declined by a bit less than 1% per year, but Union Pacific’s revenues per car have increased 4% per year. ” This lack of viable alternatives is represented in Union Pacific’s pricing power as represented by its revenue per car over time.

Transportation 94

Transportation Financial Advisor Numbers Economics 94

The Better Letter

MARCH 27, 2025

The NBA followed suit in 2002. ” According to long-time umpire Joe West (now retired), “[t]hree ways you can miss a call: lack of concentration, lack of positioning, lack of timing.” percent, and he retired following 30 years as an MLB umpire after the season. The NHL instituted its usage in 1991.

Accounting 60

Accounting Food Retirement Electronics 60

Random Roger's Retirement Planning

OCTOBER 25, 2022

Going back to 2002 and PRPFX has a CAGR that beats VBAIX by 74 basis points annually thanks mostly to how well gold did in the first decade of this century. Portfolio 1 is 75% SPDR S&P 500 (SPY)/25% client and personal holding BTAL, Portfolio 2 is 100% PRPFX and Portfolio 3 is 100% VBAIX.

Portfolio 95

Portfolio Retail Accounting Numbers 95

Random Roger's Retirement Planning

MAY 6, 2024

In 2000, BPLSX outperformed by 69%, in 2001 it outperformed by 37%, 22% in 2002 and 46% in 2009. That is not a bad result but might be less than you'd think when looking at the CAGR numbers. I outlined the four years that account for just about all of the long term outperformance.

Assets 98

Assets Portfolio Taxes Management 98

Random Roger's Retirement Planning

DECEMBER 12, 2024

The Technology Sector SPDR (XLK) peaked out in $60 in 2000 and it bottomed in 2002 at $12. Marketwatch had a useful summary of a paper from Emory University that concludes the optimal retirement portfolio allocation is 33% domestic stocks and 67% foreign stocks, so no bonds. The tech sector isn't going to zero. Bitcoin is all risk.

Portfolio 52

Portfolio Numbers Clients Retirement 52

Mr. Money Mustache

MAY 20, 2022

Even Mr. Money Mustache, as a person who retired 17 years ago, is still in this boat for the simple reason that my retirement income from dividends and hobby businesses is still greater than my annual living expenses (which still hover around $20,000 per year). (It’s Everything else is just silly noise.

Marketing 53

Marketing Marketing Retirement Investing 53

Brown Advisory

APRIL 1, 2020

These strategies may include the conversion of an IRA or qualified retirement plan to a Roth IRA , because the tax consequences of such a conversion are based on asset values at the time of conversion, and any future growth in value will avoid income taxation, both within the plan and at the time of distribution to the plan beneficiary.

Strategic Planning 52

Strategic Planning Planning Marketing Marketing 52

Brown Advisory

APRIL 1, 2020

These strategies may include the conversion of an IRA or qualified retirement plan to a Roth IRA , because the tax consequences of such a conversion are based on asset values at the time of conversion, and any future growth in value will avoid income taxation, both within the plan and at the time of distribution to the plan beneficiary.

Strategic Planning 52

Strategic Planning Planning Marketing Marketing 52

Random Roger's Retirement Planning

DECEMBER 11, 2024

The first from when I worked at Fisher Investments in 2002. A tiny slice of the portfolio into one of these, provided there was a fund with two names that you liked, could be a way to allocate to asymmetry. I've told this 100 times but two connections for me to asymmetry or barbelling.

Portfolio 52

Portfolio Management Math Taxes 52

Discipline Funds

MAY 8, 2023

1 So all deposits are held by someone until they’re retired. Instead, we expect this process to be more of a long grinding process like the 2002 re-pricing instead of the panicky 2008 re-pricing. The way this works is that deposits operate like a hot potato in a high inflation environment with a high overnight rate.

Banking 63

Banking Economy Assets Portfolio 63

Random Roger's Retirement Planning

SEPTEMBER 18, 2024

Even before that, a story I've told many times, when I was at Fisher Investments in 2002 there were a couple of guys who talked about getting a return equal to the S&P 500 by shorting Nikkei Futures with just 2% of the portfolio and 98% in cash.

Portfolio 52

Portfolio Management Clients Investing 52

The Big Picture

DECEMBER 19, 2023

I got an internship at a investment fund in Baltimore, and this was 2002 at the time. He, he had retired, retired, but he was still active. And you know, I just, I love biology, you know, the human body is so complex and will never quite understand it. Tell us about what you did at those shops. That was great.

Healthcare 162

Healthcare Portfolio Management Investing 162

The Big Picture

APRIL 18, 2023

I think because the private equity investing model has been really good for our clients, which are state pension plans, sovereign wealth funds, you know, ensuring the retirement safety of many — tens of millions of people. And so, that didn’t happen until 2002. I mean, you know, this is probably 2002.

Assets 162

Assets Investing Investments Valuation 162

The Big Picture

AUGUST 15, 2023

To give you a fun story, we launched Protégé Partners in 2002. And in 2002, the bucket of the largest hedge funds was those north of $1 billion. SEIDES: Before 2002, there were no capacity issues with whoever you thought the best hedge funds were. If you’re there a decade before, talk about first mover. Oh my goodness.

Management 130

Management Investing Investments Government 130

The Big Picture

OCTOBER 19, 2022

He is the managing director of Vanguard’s Financial Advisor Services Division, where he began back in 2002. We partnered with a firm in this space and developed a module to help with health care costs and determining health care costs in retirement. I worked with Jack Bogle for about eight years before he retired. He retired.

Financial Advisor 286

Financial Advisor Clients Taxes Investing 286

The Big Picture

JANUARY 21, 2025

I did it in 2000, 2002. I realized I had enough to retire if I wanted to. But learning how to spend in retirement. So it’s a chance to say, yeah, you know, you wanna put it into your retirement account, you wanna put it into your emergency fund, you wanna use it to pay down the mortgage. It varies enormously.

Investing 147

Investing Investments Management Retirement 147

Random Roger's Retirement Planning

JUNE 3, 2023

One is that a politician who votes to cut benefits or raise the retirement age will probably lose some voter support. Keep in mind that extending the full retirement age (FRA) to 68 or 69 or whatever is a de facto benefit cut. Now comes the grim numbers about how much we have collectively saved for retirement.

Retirement 72

Retirement Taxes Math Accounting 72

Random Roger's Retirement Planning

MARCH 24, 2024

Merger arbitrage could have some sort of problem I suppose but the under the symbol MERFX, which goes back to 1990, the worst year for the fund was 2002 when it dropped 5.67% but during that year it did go down 14% before recovering most of that decline before the year ended. That can only be taken as a proxy but it's better than nothing.

Portfolio 98

Portfolio Management Taxes Numbers 98

The Better Letter

JANUARY 16, 2025

The now-defunct Bear Stearns won a noteworthy 2002 litigation involving former Fed Governor and then-Bear Chief Economist Wayne Angell over advice he and the firm gave to a Bear Stearns client named Count Henryk de Kwiatowski (really) after the Count lost hundreds of millions of dollars (really) following that advice (back story here ).

Investing 92

Investing Investments Clients Accounting 92

The Big Picture

MARCH 27, 2023

So you retire in 2018. We talk about an S-curve for most industries, and there’s a very rapid expansion when you start with a good idea, and few people going after a very large pot, especially for distressed when you think of the 2001, 2002 periods. But it was not a liquidity issue. ’08 RITHOLTZ: Really interesting.

Assets 285

Assets Investing Investments Management 285

The Irrelevant Investor

DECEMBER 2, 2020

Kleinfeld was coked out of his mind" Sexy Beast, 2000 An ex-hitman tries to retire, but his boss won't let him. The Rules of Attraction, 2002 College kids entangle themselves into a dark web of messed up relationships. "I But quite frankly your attitude appalls me. It's not what you're saying. It's all the stuff you're not saying.

Retirement 52

Retirement Banking Numbers 52

Random Roger's Retirement Planning

DECEMBER 14, 2022

Mr. Backhoe recruited both of us into the fire department in 2002. Somehow, I made it into Prescott, into the parking lot of what I think was an O'Reilly's and it stalled out halfway into the parking spot due to the dip in the lot, four feet short of where I wanted to park. Joellyn and I had a pretty good laugh over that.

Engineering 40

Engineering Recruitment 40

The Big Picture

AUGUST 29, 2022

And so, I was doing that in 2000, 2002, 2003, 2004. RITHOLTZ: You made my retirement …. My — I’ll say my dad is — well, my dad was a highway or is a — well, he retired, but he would go around and try to get contracts to pave highways. RITHOLTZ: (Inaudible), right. BALCHUNAS: … is really what we — we did.

Assets 173

Assets Management Marketing Marketing 173

Sara Grillo

FEBRUARY 13, 2023

So according to Yardini Research, there was $200 billion of buybacks in quarter two, 2002 for S&P stocks. Like how are you going to get your money back for your retirement in that kind of situation where it’s this catastrophic outcome? In fact, they’re probably net buyers of shares. It’s just not going to happen.

Investments 72

Investments Investing Clients Portfolio 72

The Big Picture

DECEMBER 12, 2023

You’re 34th, you’re retiring after 34 years and you trounce what’s really the more appropriate benchmark, I would assume the Russell 2000. 00:49:30 [Speaker Changed] I bought it around 2000 and it crashed around 2002. So, so you set to retire as portfolio manager this year, you mentioned your two successors.

Management 264

Management Investing Investments Retail 264

The Better Letter

JANUARY 12, 2023

Bernstein, “Forecasting: Fables, Failures, and Futures – Continued,” in Economics and Portfolio Strategy , November 15, 2002, p. Leo Tolstoy was a retired Russian military officer who fought in the Crimean War and was on hand for the siege of Sevastopol in 1854-55. El Ingeniero. RIP, Adolfo Kaminsky. RIP, Jeff Beck.

Economy 118

Economy Economics CFP Management 118

Random Roger's Retirement Planning

JANUARY 1, 2025

If we go back to 2002 with this second back test using ProFunds Ultra S&P 500 (ULPIX) which is the mutual fund predecessor of SSO it looks bad because of how big of a hole any 2x fund would have had to dig out from after 2008 so there's some good context about the risk of any leverage strategy.

Retirement 52

Retirement Portfolio Clients Assets 52

The Big Picture

APRIL 11, 2023

But Amazon had a great run, Bezos retires. When the first time I use Google, I want to say it was 2001 or 2002, when it was just so simple. RITHOLTZ: Now, some companies, like Apple and Microsoft, seemed to have held up much better than Tesla, Netflix. I’ll leave out the pelotons — DAMODARAN: Yeah. DAMODARAN: Right.

Valuation 298

Valuation Education Numbers Government 298

Random Roger's Retirement Planning

FEBRUARY 16, 2025

I visited Walker on my second date with my future wife in 1991 and realized it was the answer but we didn't land there full time until 2002. If you're 50, you should have at least a general sense of when you want to retire how much you might need (rough number is fine) and where you stand in relation to that number.

Healthcare 40

Healthcare Numbers Retirement Taxes 40