Dear Reader, You Belong Here!
“There are just so many amazing athletes here. I feel like I don’t belong!”
That’s what my friend and training buddy Ted told me this past Friday as we were checking into our Ironman race in Tempe, Arizona.
An Ironman is a true test of endurance. To finish, each athlete must swim 2.4 miles, bike 112 miles, and finish by running a 26.2 mile marathon.
Arizona was my third Ironman race, but Ted hadn’t completed one yet. He was a bit intimidated by all the fanfare, the elite athletes with more experience, and the grueling task still ahead of him.
It kind of reminded me of the way some people feel about stepping into retirement! After all, retirement is a long-term endurance race of sorts, requiring you to plan for your wealth to last.
Today, I want to tell you the exact same thing that I told Ted as we walked up to the check-in desk.
It’s Easy to Feel Like Everyone Else Knows What They’re Doing
When I heard Ted tell me that he didn’t belong, I knew exactly what he meant. In fact, I remember this feeling very well!
Any time you’re ready to bite off a big challenge, it’s easy to look around and think that everyone else is better qualified than you.
Maybe they have more experience. Maybe they’ve received more traditional training.
Or they come from a background that gives them an advantage.
I felt that way when I did my first Ironman race in Chattanooga two years ago. And ironically, I felt the very same way when I first started my investment career two decades ago!
There was one particular investment luncheon I was invited to shortly after I got my job at the hedge fund. I didn’t understand all of the ideas that the luncheon speaker was sharing. And I thought it was just because I was new and had very little real investment experience.
It made me feel like I just wasn’t part of the club, and I wondered if I would ever really “fit in” with these investors.
But after the presentation was over, one of the more seasoned investors leaned over to me and said, “I have no idea what he was even talking about!”
We both had a good laugh at the overly-complicated speech, and I started to feel more comfortable with the whole situation. Plus, I made a new friend who could help me learn the ropes as I got up to speed in the hedge fund world.
It’s important to remember that if you happen to feel intimidated by retirement, or managing your own investments, chances are good that you’re in fine shape right now, and you’ll be able to learn and grow as you undertake this challenge.
And of course, we created The Daily Edge to support you as you walk this path!
You’ve Earned the Right to Belong
While I understood Ted’s perspective, I have to tell you that my feelings were completely different.
Throughout the whole weekend, I felt like I was hanging out with my people… The people who have been training for this race all year… The people who were all going to be biting off the same challenge and fighting through fatigue together.
I looked over at Ted and patted him on the back.
And then I said “Ted, you’ve earned the right to be part of this group! I’ve seen you training as hard as anyone leading up to this race. Even when you were injured in a bike wreck, you got back up and kept going.”
“You’re going to do fine, Ted. And remember — You BELONG in this group of athletes!”
And you know what, [%= :subscriberName(E, Reader) %]…
I’ll say the same to you!
You’re part of our family here at The Daily Edge.
You keep track of what’s going on in the market. You put your capital to work, investing for a better retirement. And you’re being responsible with your wealth and growing it as best you can.
You absolutely BELONG in this group of retirees (or future retirees) who are taking the initiative and managing their own wealth.
I’m excited for you and the successes you’ll continue to experience as we navigate this market together.
Oh, and for whatever it’s worth, Ted and I both finished. I’m excited to say, Ted is now an Ironman!
And just for fun, here’s a picture from Ironman Arizona.
Here’s to living life to the fullest, while growing and protecting your wealth.
Now let’s get to the “Must Know” stories to start your week…
“Must Know” Stories for Monday, November 25th
Earnings on Deck — Today, look for earnings reports from Palo Alto Networks, Hewlett Packard Enterprise, Ambarella, PVH and Agilent Technologies.
On Tuesday, Best Buy, Dell Technologies, Dollar Tree, Dick’s Sporting Goods, Burlington, VMWare, Guess, HP, Abercrombie & Fitch, Analog Devices, Box and Hormel Foods report earnings.
And on Wednesday, look for an earnings report from John Deere to get released before the opening bell.
London Says “Sorry Mate!” to Uber — Ride-hailing giant Uber Technologies lost its license to operate in London this morning for the second time in three years. The ban comes after research proved that over 14,000 trips were completed by unauthorized drivers who were posing as licensed drivers. Uber has 21 days to appeal and can continue to operate while a magistrates’ court considers the decision. UBER was down 6% premarket on the news.
Chuck Buys TD Ameritrade — After much speculation, Charles Schwab Corp. agreed to buy TD Ameritrade Holding Corp. in an all-stock transaction that will value the broker at $26 billion, or $48.50 per share. The announcement comes after both companies cut trading commissions for customers down to $0. For Schwab, the move gets them access to 12 million new client accounts and $1.3 trillion in assets that could soon start paying fees for Schwab funds and advisory services.
LVMH to Buy Tiffany’s — The brokerage merger wasn’t the only big deal announced over the weekend. France’s richest man Bernard Arnault announced that his company, LVMH, will buy Tiffany & Co. for $16.2 billion. LVMH already owns notable brands like Louis Vuitton, Dom Perignon and Bulgari, and boasts a successful track record of revamping high-end brands by boosting exclusivity and raising prices.
Happy Thanksgiving! — The stock market will be closed on Thursday, November 28th for Thanksgiving. And the stock market will also close early at 1pm Eastern on Friday, November 29th. So be sure to get any investments in before then. And enjoy the holiday!
That’s all from me today. Have a great week!
Here’s to growing and protecting your wealth!