As I encounter information I feel is especially valuable, I like to pass it on to my readers. The following are a few recent gems I discovered. I hope you find them as useful as I did.
This episode of Fawcett’s Favorites includes why you should take social security as early as possible, even physicians should get out of debt, wisdom from the late great Charlie Munger, and which financial decisions should we fret about.
I have advocated for taking social security at the earliest date you can without paying penalty taxes, especially if you don’t need the money. Go Curry Cracker feels the same way. In the article Why I Plan to Collect Social Security as Early as Possible the math presented backs up this idea, as it always has. When do you plan to take social security? Here is the link to my article on When to Take Social Security.
Debt is not your friend and Wealthy Doc shares why debt can cause trouble in Consumer Debt: A Healthcare Professional’s Story. My early retirement was made possible by eliminating all my consumer debt, including my home mortgage, before I was 40 years old. But it was also made possible by judicious use of business debt on investment real estate. Even that debt I paid off early.
Munger and Buffet were two of the most successful investors in history. Along the way they shared a lot of their wisdom. Humble Dollar put together a collection of some of Munger’s wisdom from his 99 years on earth in A Lifetime of Wisdom. What is your favorite piece of Munger wisdom?
Some decisions are not important, but we waste lots of time making them. Wouldn’t it be great if we could know which things to worry about and which ones don’t matter so we can quickly make a decision and move on with more important things? The Finance Buff is coming to our rescue by sharing with us Which Financial Decisions Require Extra Attention and Which Don’t.
I hope you enjoy these articles as much as I did. I look forward to updating you again in the near future with a few more items of interest. If you find anything you think I should share with my readers, send me the link so I can add it to the next installment of Fawcett’s Favorites.