Welcome to the Round-up!
Below are the posts we read and loved this week for a variety of reasons. We think you’ll like them too.
Whatever happened to Wall Street’s Old, Unwanted Salesman?
“In the new Wall Street, there are simply fewer jobs. Post-crisis rules to curb risk-taking and shrinking bond-trading revenues have compelled banks to cut costs. Electronic trading platforms have let clients bypass salespeople. In the past five years alone, the biggest global firms have cut almost 10,000 trading and investment banking jobs, according to research firm Coalition Ltd. Older, higher-paid traders and salespeople have been especially vulnerable.”
The 2017 Shake-up: Some prophecy from Huffington Post Over 50
“We will get to test the veracity of the infamous “third rail.”
“The third rail of politics is a metaphor for an issue so hot that it is untouchable to the extent that any politician or public official who tries to mess with it will suffer politically. The American third rail has always been Social Security. You can’t touch it without getting zapped, has been the common wisdom.”
Some Video Truth and Inspiration from Gary Vaynerchuck for those of you in Your 50’s
Carl Richards for the New York Times discusses investing in your business
“If you’re an entrepreneur, traditional financial advice, starting with the drumbeat of diversification, does not apply to you.
I know because you told me in hundreds of interviews I conducted over the last decade. Entrepreneurs like you expressed frustration with being told how to invest in multiple index funds all over the world. After all, that advice is based on rules intended for people with stable incomes and jobs who don’t need to invest lots of money in their businesses.”
Read The Full Article Here
Some sage advice from Mr. Groovy at Freedom Is Groovy.
“Imagine you’re in the following predicament. You’re 55-years-old. You don’t own your home, you rent. You also have less than $1,000 in the bank, no retirement savings, and no pension. On the bright side, though, you’re employed, have little consumer debt, and are relatively healthy.
Is a decent retirement possible given these circumstances?”
Read the Full Post Here.
Ian Bond is a private banking senior executive with over three decades of experience in wealth and asset management with Goldman Sachs, Credit Suisse, and Citigroup. He has built major businesses on four continents.
Despite his professional responsibility for assets over $100B and revenues over $1B, after the 2008 crash Ian was personally going broke. Within five years he destroyed his debt, became an expat in 2014, and built multiple streams of income to fund his imminent retirement. Ian is also the founder of MyRetirementRehab.me created to help other executives and professionals rehabilitate their finances and make a prosperous, enduring retirement a reality.