A pullback in several overseas markets had the U.S. market catching a bit of the bug as well. Higher stock prices in and of themselves are not the long-term anecdote for solving the economic ills of various countries.
Looking at the markets, Yum Brands (YUM) reported some softness Chinese sales and the market pushed the company’s stock price lower on the news. Competitor McDonald’s (MCD) ended fairly unchanged on that news. Steelmaker Schnitzer Steel (SCHN) got hit following the company’s earnings release. A Wall Street downgrade on oil service plays has stocks like Halliburton (HAL) and Baker Hughes (BHI) trading in the red. Finally, shares of Boeing (BA) were down on an analyst’s cautionary note following an electrical fire on board the company’s new 787 Dreamliner yesterday in Boston’s Logan National Airport.
“John Elway Will Never Win a Super Bowl”
Pro football fans who have been following the sport for the last couple of decades may remember the tirade Hall-of-Fame Quarterback Terry Bradshaw (former Pittsburgh Steeler and 4-Time Super Bowl Champ) made following the Broncos getting destroyed 55-10 vs. the San Francisco 49ers back in 1990. Bradshaw felt Broncos quarterback John Elway was coddled way too much and didn’t have the emotional toughness to ever win a ring. Fast forward eight years later and at the ripe age of 38 and again at 39, John Elway led the Denver Broncos to back-to-back Super Bowl titles.
You see, even successful individuals can misjudge others’ success (and often the route that one takes to achieve success). Often time our parents want us to follow a familiar path in our lives, but more often than not, a child chooses a different path than his or her parents. Sometimes we’ll even be surprised by people’s success. Mr. Elway never gave up the dream and certainly didn’t let age stop him from achieving his goals. This same concept applies in investing.
Older investors may feel they can no longer improve their financial well-being, but there is hope — as long as you have the fortitude to push harder and are willing to learn the right formula. You must not only buying quality dividend stocks, but must work to improve other aspects of your financial life as well: how you spend, how you save, and how you earn. Embrace the process of examining your finances closely, bearing in mind that everyone makes mistakes along the way. If you let your age impact your motivation, you will surely bow out much sooner than you should. Play strong until the final bell rings and you will not look back in regret, ever!
Thanks for reading everybody. I’ll see you tomorrow!
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