The Wisdom of Ric Edelman
Inspirational poem by Mark Stone
Let me lighten the load a little bit and share with you a poem. It's called The Wisdom of Ric Edelman. No, that's not me saying that. That's the title of a new poem. It was written by Mark Stone, one of the devoted listeners to this podcast. Mark is a poet, and he decided to write a poem about me. And with his permission, I'm going to read it to you.
The Wisdom of Ric Edelman: Â
Tush on the sofa and heels on the hassock,
buying a fancy car, new or a classic.
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Drinks with umbrellas imbibed on the strand.
These are the golden years that we have planned. Â
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Fruitful investing is hard to intuit.
Learning the basics will help you get through it.
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How can you grow your retirement coffer?
Ric has some nuggets of wisdom to offer.
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What should you purchase? Each fund has its facets.
Why are there so many classes of assets? Â
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Ric's learned counsel is simple and terse.
Own some of each so your nest egg is diverse.
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When one of the classes of assets you own
grows faster than others, you might then be prone
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to just let it grow. One can see the attraction,
rebalancing, though, Â Is the more prudent action.
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Don't fret when the market is falling or rising.
Invest every week with a long-term horizon.
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A pittance saved weekly for decades. Compounding
will yield a remittance that's truly astounding. Â
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Saving for college should start right at birth.
Growth over decades will maximize worth.
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It's easy to set up a 529 plan.
Growth is tax-free, so it's really a fine plan.
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You may not develop a nest egg as stellar
as those of Jeff Bezos and John Rockefeller.
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But using Ric's wisdom as assiduously,
will render your nest egg the best that can be. Â
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Ric Edelman: My thanks to Mark F Stone, the poet of that new poem, The Wisdom of Ric Edelman.
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