Song: "101" by Albert Hammond, Jr. You might recognize Albert as the rhythm/lead guitarist for The Strokes, and he brings that same sense of carefully crafted rock tunes to his solo work. This song is off his first album Yours to Keep, and it's 3 minutes and 27 seconds of fun. I love how he gets right to the chorus initially, but then keeps teasing a return to it after a couple of breaks. Try not to sing along at the end! Financial: 101 I was talking with another advisor about some basic, "101 class" financial principles that it seems many people don't follow. For instance, I often find people not saving enough to their 401(k) to get the full matching amount from their employer. That's the equivalent of leaving free money laying around, so please take advantage of the match if it's available to you. We've also seen so many retirement accounts that are supposedly diversified (hold a wide variety of investments), but really they just own several funds that all invest in the same area. Owning five mutual funds or ETFs that all hold large company US stocks is not diversification.
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Song: "Rewind" by Goldspot Any Beatles fan has heard about some new band being "the next Beatles". Oasis comes to mind, of course, but there are many other contenders. I'd like to submit Goldspot for that shortlist - fantastic pop songwriting with a twist. This song off their first record is a good example, so give it a listen! Financial: Gold Every time the stock market is struggling, it seems like we get more questions about gold. I'm skeptical about gold as an investment, because it's only valued at what people are willing to pay for it. Gold doesn't pay dividends or earn interest, and although it's often promoted as insurance against the dollar declining and rising inflation, it has not proved to be a great hedge even for that. As a side note, I wrote this same thing to a client in 2011 when gold seemed to be headed toward $2,000/oz. and predictions for $5,000-$8,000 were commonplace. I think it's just as true now, even with gold down below $1,300 at the time of this writing. Welcome to The Financial Musician.
I've been a fee-only financial advisor for over ten years and a musician for more than twenty. As I thought about how to combine those two distinct but equally important parts of my life, it seemed like it'd be fun to write about them together. So, I'm starting this blog to give you ideas about: Great songs Useful pieces of financial advice Musical ideas I hope you find this interesting, and I welcome comments and ideas for future posts. Thanks for reading! |
AuthorRussell Hall is a fee-only financial advisor in Orange County, California. Archives
January 2024
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