Inflation. At time of writing the year over year figure is reported to be 8.3%.  While (hopefully) not an unfamiliar concept to those planning for retirement, these days the word is on everybody’s tongue. Even for those who make the effort to avoid news, the county’s inflation issue announces itself everywhere in the form of rising prices. Only the most price-oblivious of shoppers could fail to notice, and even they may be induced to do a double take when they see their favorite products seemingly shrinking on the shelves. I’m not an economic expert so while I’ll spare you my hot take on the current situation, I will share an important historical observation. Inflation is nothing new. Inflation is a natural, and in fact inescapable, part of a monetary system. So, give the Fed (or is it Putin?) a break and cast your blame upon the Lydians, the ancient Anatolian people, who, in the 7^th century BCE, became minters of the first known coinage.

“I’m not comfortable even eating outdoors at restaurants,” said my husband, Peter, right after returning from a Home Depot Trip. As we have all noticed, everyone has a different Covid risk tolerance, and it’s frequently inconsistent. It’s much the same with risk tolerance when considering investments and asset allocation. In both, personal comfort isn’t all that matters and often an expert opinion, as well as historical research, can save someone from themselves.

“Don’t worry, Mom,” my daughter Judy chimed as I expressed concern about the wind and rain in New Orleans generated by Hurricane Laura. “Tulane says we don’t need to evacuate.” I am visiting my college freshman in the Crescent City and this is my first experience with a tropical storm of such magnitude. Having recently watched the Spike Lee series, When the Levees Broke about Hurricane Katrina, I am a little nervous.

The other day I received a puzzling text from my husband, Peter. “RED?” it said. After a moment of confusion, I recognized he was inviting me to Retire Every Day – in this case to join him on the back patio for a glass of wine. Peter’s new ethos – Retire Every Day – doesn’t simply refer to any one activity: it is a conscious decision to practice mentalities and ways of living today, that he previously kept putting off until retirement.  To be clear, my husband is still working. If anything, he’s working longer hours now during the pandemic than he was before. Retire Every Day is simply a manual shift in perspective, from delaying enjoyment to enriching one’s days, today.

“Ann, you’d be so proud of me!” exclaimed Fred. “I haven’t done a thing with my investments—absolutely nothing!” In fact, I was impressed. Fred is a client with a history of losing his nerve during market declines and making poor emotionally-driven investment decisions. Over the past 10 weeks, Covid-19 has made it impossible for anyone, regardless of their risk tolerance, to hold on tight and not question the markets. The fact that Fred internalized my advice and was not panic selling was remarkable.

“Should I be converting to a Roth IRA?” asked John recently during our Getting Acquainted Meeting. His is the second most frequently asked question I’ve had over the past six months from both existing and potential clients, so I wasn’t surprised. The media has been focusing on the Roth conversion over the past year and everyone is wondering how they can take advantage of the opportunity.

“Honey, 5 million dollars isn’t what it used to be, I really need 10 million.” My husband and I leaned back in our chairs to eaves drop on the conversation going on at the table behind us. We could hardly believe our ears—or, as it turns out, our good fortune in being entertained by a real-life high-end soap opera episode. My husband has always been keenly interested in the conversations of fellow diners, but this time we were both craning our necks for more. We were celebrating our 30^th wedding anniversary in Lake Como, Italy and, on this early evening, were having cocktails at the famous Villa d’Este—a more stunning, upscale location I have never seen.

Tucked away on Greece’s rugged north Aegean coast lies a place seemingly frozen in time, where men lead simple lives much the same as they have for the past thousand years. It is a rocky, narrow peninsula covered in wooded valleys and terraced farms that comes to an abrupt end at a dramatic 6000-foot peak – the eponymous Mount Athos.

With thanks to my son, Peter Minnium Jr, for this guest post.

I met Gus and Lina at a campground outside of Leonidio, Greece, a beautiful community nestled in the rugged hills abutting the Aegean Sea. Leonidio attracts visitors year round with its beauty, fair climate, and perhaps most powerfully, its abundant rock climbing.