My dad and I talked to John Hockenberry from WNYC’s The Takeaway yesterday, and here is our little convo. I was very very wary of Speaking For Our Generation, so it’s all about ME.
But though my own inability to think about retirement is largely influenced by smaller crises of my own making, I wish I’d emphasized that This Terrible Economy has really retarded all of our abilities to earn and save and plan. So just pretend I said that.
My father and I recently had our annual recorded discussion about money. This one went mostly okay.
Logan Sachon: What are you watching?
Mike Sachon: I flip between CNBC and Bloomberg. Trying to keep abreast of the world stock markets and the world economies, since I’m invested in some domestic stocks and some foreign stocks. And some foreign ETFs.
LS: What’s an ETF?
MS: It’s baskets of foreign stocks, is what it is, basically.
LS: How do you pick what you’re going to invest in?
MS: I read Barron’s magazine and I watch these television shows, and I do research at the online brokerage.
LS: So you make your own investment decisions?
LS: And you’ve always done it that way?
MS: Yeah. I started investing in a tax-sheltered savings, like a 403(b) since I was a public employee. It’s the same as a 401(k), but the tax rules about it are different, slightly. I started doing that when I was about 30.