The Story of the Pencil and More
How can the story of a simple pencil provide someone with an understanding of financial markets? Find out in the first segment of my program. It is an interesting story about knowledge, experience, pricing and human ingenuity.
You can read the short paper on the pencil by economist Leonard Read here: The Pencil Essay
In this segment I cover some of the basics regarding the new 529 ABLE programs that are springing up around the country. 529 ABLE accounts represent a revolutionary way for disabled people to manage their finances. If you have not heard of 529 ABLE accounts you need to. Listen to this segment to get a quick overview of the new program and how it can fundamentally change the financial life of a disabled person.
In the segment, I mention the State of Michigan’s new 529 ABLE program. My firm is the investment manager and investment advisor associated with that program. The program is a federal program, which means it is available to anyone that lives in the Unites States. You do not have to be a resident of Michigan to enjoy the benefits of the program.
If you would like more information on the Michigan 529 ABLE program you can visit there website at: Michigan 529 ABLE Savings Program
The cost of higher learning (college) continues to skyrocket. In this segment, I spend a few minutes talking about the cost and how to plan for it. This is a high level look at the challenge parents face and how to approach this liability from a logical perspective. Ultimately, the answer is save as much as you can early, invest it aggressively, and then transition into lower risk (as measured by volatility) as college approaches. This is not personal advice, just a formula to consider for new parents.
In the final segment, I spend time explaining the overarching formula of financial life. The trade-off between spending and saving… and the role of human capital and financial capital. Finally, near the end of the program, I provide an explanation of stocks and bonds. What they represent and what you should expect.
I hope you enjoy the program!
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You can also reach Gary via his work email at email@example.com.
PODCAST – Gary Allen on Business: Original air date – Sunday, February 19, 2017