From a man walking on the moon half a century ago to self-driving cars by the end of the year, technology is always changing. So should our investment strategy change alongside it? It’s a question we can’t avoid anymore so we’ll dive into it.
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As technology changes, should that change how we choose our investments? Ford is planning to put 100 self-driving cars on the road by the end of the year. But does that make them a company to invest in?
Before you go buy stock in Ford, Uber, Tesla, or any other transportation companies, consider the full picture. The movement of new technology can further the value of your investments, but broad diversification is key.
When reflecting back on the moon landing 50 years ago, it’s fun to reminisce on what that time looked like. Comparing that time to now, it’s amazing to see how much the technology has changed.
If you do remember that landing on the moon, you might be in or nearing retirement. But what happens if you are forced into an early retirement? Abe from Middletown asks this question in today’s Cash Connection segment to figure out what to do if he is facing early retirement before he can take Social Security.
Whether you prefer looking to the technology of the future or enjoy remembering the stories from the past, you’ll surely enjoy this episode. Listen to the whole thing or click the timestamps below to skip ahead to a specific segment.
2:39 – In the News: Ford claims it will have 100 self-driving cars on the road by the end of the year.
5:04 – Advanced safety features of a car are another form of technology being updated in cars.
6:16 – Broad diversification allows you to benefit from the movement of technology.
8:29 – Getting to Know You: What do you remember from the summer of ‘69?
12:53 – Technology has come a long way.
14:55 – Cash Connection: Forced into early retirement but too young for Social Security. Should I get another job?
15:47 – Look at your expenses, but don’t be afraid to spend your non-IRA dollars.
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Donald W. Cash – CPA, CFP® is an independent advisor. Don began his career in 1985 as an accountant after graduating Rutgers University. In 1990 he entered the field of Estate Planning with a concentration in long term care planning. Don has been advising clients in the baby boomer and retirement market for 20 years. He has helped over 1,000 families with their planning needs. He advoctaes a holistic approach to Estate and Financial Planning as has relationships with other professionals including Attorneys, CPA’s, Mortgage Specialists, Insurance Specialists and Asset Managers. Don is married to Cathy and have 4 children, Carly, DJ, Nick and Tori. They live in Freehold, NJ.