Tips and Quips


For relatively young retirees, risk of lost of purchasing power is much greater than the risk of lost of principle.

“Nothing makes people luckier than preparation ….  Winners are meticulous about preparing.   They are obsessed with preparing.   That is what builds confidence.”    Matthew Winkler, editor-in-chief of Bloomberg News

Within 2 years of retirement,  78% of former NFL players have gone bankrupt or under financial stress because of joblessness or divorce.
Within 5 years of retirement,  60% of former NBA players are broke.    Pablo Torre, Sports Illustrated, 23 March 2009

Quips  –  Buy-and-Hold Investing

“If you’re determined to succeed at investing, make it your first priority to become a buy-and-hold investor.”
(Jack Brennan, Straight Talk on Investing)

“Take my word on it.   Buy-and-hold is still your best long-run strategy.”
(Jonathan Clements, author & journalist)

“The buy and hold equity investor (S&P 500) would have earned a return of 8.35% for the 20 years ending 12/08, while the market-timer would have earned just 1.87%.” (Dalbar Research)

“Do nothing.   I think all of this market timing is statistically unfounded.   I don’t trust it.   You may avoid a downturn, but you may also miss the rise.   Choose the risk tolerance you’re OK with and hold tight.” (Professor Eugene Fama)

“Buy and hold.   Diversify.   Put your money in index funds.   Pay attention to the one thing you can control–costs.”
(Fortune Investor’s Guide 2003)

“The only function of economic forecasting is to make astrology look respectful.”
(John Kenneth Galbraith, Economist)

“For most investors the odds favor a buy-and-hold strategy.”
(Carol Gould, author & financial columnist)

“Your very refusal to be active, and your renunciation of any pretended ability to predict the future, can become your most powerful weapon.”   (Graham & Zweig, The Intelligent Investor)

“After receiving the Nobel Prize, Daniel Kahneman, was asked by a CNBC anchorman what investment tips he had for viewers. His answer:    “Buy and hold.”

“Nobody can predict interest rates, the future direction of the economy or the stock market.”
(Peter Lynch)

“Buying-and-holding a broad-based market index fund is still the only game in town.”
(Burton Malkiel, Random Walk Down Wall Street)

“At the peak of the bull market in March of 2000 only 0.7% of all recommendations on stocks issued by Wall Street brokerages and investment banks were to “Sell.”    (Miami Herald, 1-26-03)

“Odean and Barber tested over 66,400 investors between 1991 and 1997. Their findings:  “The most active traders earned 7% less annually than buy-and-hold investors.”

“I’m a strong advocate of buying and holding.” (Charles Schwab)

“Buying and holding a few broad market index funds is perhaps the most important move ordinary investors can make to supercharge their portfolios.”    (Stein & DeMuth, authors & advisor)

“It’s a staple of personal finance advice:  Buy-and-hold, because trading the stock market is a sucker’s bet.”
(Larry Swedroe, author and adviser)

“Stay invested.   Not only does buy-and-hold investing offer better returns, but it’s also less work.”
(Eric Tyson, author, Mutual Funds for Dummies”)

“If you buy, and then hold a total-stock-market index fund, it is mathematically certain that you will outperform the vast majority of all other investors in the long run.”
(Jason Zweig, author)

 Credit Cards

Get Rid of UnNecessary Credit Cards

1)   Having few credit cards reduces your liability from identity thief.
2)   Keep one major bank credit card; get rid of the store credit cards.
3)   Order one (1) free credit report from a credit reporting agency through    You will probably see you have revolving credit accounts that you did no know you had.   Get rid of unnecessary revolving credit accounts (credit cards).
4)   Get rid of revolving credit accounts (credit cards) by sending a letter, like shown below, to the companies that you have a revolving credit account with.
5)   Wait a couple months, then order one (1) free credit report from a different credit reporting agency through, and see if the revolving credit account was closed as you requested.


John Smith
1000 Main Street
Huntsville AL 35801

SSNNBA / WallyWorld
PO Box 1000
Anywhere GA 10000

08 August 2013
Credit Card Number

I request that you do the following:
1) Close my revolving credit account,
2) Do a “Hard Close”,
3) Report to credit reporting agencies that this account was “closed by consumer request”, and
4) Send me written confirmation that the account was closed.

John Smith



For more information or to schedule a complimentary initial consultation, call Alan Markell at 256-881-9637 or email

Discover Financial Planning, a Registered Investment Advisor in Alabama only


Discover Financial Planning is a BBB Accredited Financial Consultant in Huntsville, AL