The Ronco 'Set it & Forget it' Financial Plan
What are the fewest things the average person needs to do for their finances
Welcome back.
The markets have been strong. With all the talk of lower rates, continued spending, and AI-mania this seems like the bull market may continue to have some longer-term legs.
It is a good time to take a look at your portfolio and do some housekeeping.
If you had some name you purchased years ago and was a perpetual loser that you could never bring yourself to sell and realize the loss on…but by some miracle they are up recently (probably due to just randomly yelling ‘AI’ or ‘Crypto Reserve’ during their last earnings call since that is an automatic doubling of your stock price these days)….well we are in a good time to sell that dog while the market continues higher.
It is also a good time to look at what has run big and consider rebalancing if your portfolio has gotten very out of balance.
Or if everything looks good enough, just let it be.
This week was saying good-bye to the office interns. I had a couple downstream of me in the org and during the obligatory good-bye and thank you meeting the topic went to general life and finance.
That convo spurred the idea of 'for the average person, what are a few things that they could do to ‘set and forget’ their finances’.
This post is for those who just want a few easy steps that will get them almost all the way to covering all their financial needs. Or it can be a good check and reminder for those still learning or just starting adulthood.
So what couple things did I throw out to the interns for non-work, personal finance advice?