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Smart Thinking On Investing – May 12

Smart Thinking On Investing – May 12

Smart Thinking opens this week with Barry Ritholtz, Chairman & CIO of Ritholtz Wealth Management, who examines the investing potential in Canada’s possible marijuana market. Colin Lalley, writing for PolicyGenius, reveals how to avoid the pitfalls that can ensnare millennials today. And Jonathan Clements, author of the Humble Dollar blog, shares with us his financial commandments to live by.


The White Coat Investor, Dr. Jim Dahle, teaches us how we can feel rich. And Peter Lazaroff, Co-Chief Investment Officer at Plancorp, writes of how to manage your cash assets…


A Smokin’ Investment Opportunity


  • With the potential upcoming legalization of marijuana in Canada—possibly the second country to authorize the sale and use after Uruguay—it is worth considering the investment opportunities this may open up
  • The U.S. saw $7.1 billion from the legal marijuana market in 2016, which is projected to triple in three years to at least $22 billion
  • Given this projected success, marijuana is understandably capturing a lot of investment interest and funds

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Millennial Financial Challenges


  • Millenials are contending with a very different economic climate than their parents and generations before
  • On top of that, millennials have a higher level of student debt to deal with once they leave college; an average of $37,000—a rise of $19,000 in the last 14 years
  • Take control of your financial future by automating your finances—for your investments, savings, and paying off your debts—and pay yourself first to overcome these pitfalls

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Financial Commandments


  • Confidence can be dangerous when it comes to your finances; a small amount of self-doubt can be healthy when making major decisions
  • Always question the trade-off when making purchases; is what you’re spending money on worth not adding the amount to your savings?
  • Avoid credit card debt, use a card wisely and pay your outstanding balance immediately; this way it becomes a useful tool for boosting your credit score instead of causing damage

What are the financial commandments you follow? Share your experiences in the section below

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When Do We Feel Rich?


  • To begin with, you have to become wealthy; this means having an asset portfolio of six figures at least, and once you’ve achieved this, make sure you’re insured
  • Insurance and knowing your financial plan will help you stay on top of the anxiety that comes with being rich
  • You can also feel rich by giving money away, spending less than what you earn, and traveling far and wide

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Be the King of Cash


  • Cash can be a very effective part of your financial plan if managed correctly and put towards your long-term goals
  • Have an emergency fund in cash stashed away in an online savings account rather than your primary bank account
  • Have a cash buffer in your account to save you from bill surprises and an overdraft; 20-50 % of one month’s expenses is plenty

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Do you want to start investing on your own, but don’t know how?

Check this out!


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DISCLAIMER: This content is for information purposes only. It is not intended to be investment advice. Readers should not consider statements made by the author(s) as formal recommendations and should consult their financial advisor before making any investment decisions. While the information provided is believed to be accurate, it may include errors or inaccuracies. The author(s) cannot be held liable for any actions taken as a result of reading this article. Andrew Stotz doesn’t necessarily endorse any stocks or shares mentioned in the articles or the author of such articles linked to and summarized in Smart Thinking On Investing and cannot guarantee the accuracy of its information.

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