The Uncommon Path – January 6th Edition

January 6, 2022January 6, 2022 by David Tuzzolino CFA, CFP®

The Uncommon Path

Plan Wisely | Retire Well | Travel on Your Terms

In this issue…

2022 has not been kind to many large growth stocks, but it’s not too late to rebalance
Exactly how much does it cost to retire in each country? A list
In case your retirement fund is a little low, a list of the cheapest countries to live in
Ready to renew your passport? Soon you won’t have to mail it in

…and more!

Happy New Year! 2022 is less than a week old, but it has already reminded us of a valuable lesson. The NASDAQ is down 3.5% in the first three days of trading – not a great way to start the new year. However, other asset classes have held up well or are positive on the year, including small-cap value stocks, which have gained approximately 1%.

The lesson? Rebalance regularly. I know it isn’t easy, especially when your tech stocks are screaming to new highs daily. Try to take the emotion out of rebalancing and set up a schedule to rebalance portfolios based on the time of year or when your asset allocation strays from its target.

Is it too late for 2022? Absolutely not. Rest assured that if you’re an investment management client of PathBridge Financial, your portfolio was rebalanced toward the end of 2021. If you manage your own investments, I encourage you to make sure your asset allocation matches the target allocation in your financial plan. If your investments are out of whack, it’s time to rebalance.

Safe Travels,

David

Travel

Mailing in your passport for renewal will soon be a relic of the past as the U.S. government takes a tentative step into the 21^st century!

Want to know what it’s like to work remotely from another country? 8 remote workers tell you what to expect..

Retirement

Not everyone is looking for the cheapest places to live in the world, but I think it’s fascinating to read about them and see what’s available.

So exactly how much will it cost to retire in each country? The infographic above by NetCredit. There are some excellent graphics in this article.

I know some of you are planning to retire in 2022. Here’s a solid list of things to consider.. Here’s a solid list of things to consider.

Did you miss the last issue of The Uncommon Path? If so, you have a second chance to catch up on:

Should you keep Medicare if you move overseas in retirement?
I-Bonds will offer an annualized 7.12% rate for at least part of 2022, do they make sense in your portfolio?
Ever feel like you’re booking your flight/hotel at exactly the wrong time? Expedia crunches the numbers and explains when to book and when to travel for lower rates
My Thanksgiving trip report gives you the scoop on how bad airports really were – not that bad actually

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You’ll not only be signed up for my newsletter which is published twice a month, but you’ll also get a PDF that shows you exactly what a comprehensive retirement plan for people who love to travel is all about. Thanks for reading!

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David Tuzzolino, CFA, CFP®, is the Founder and CEO of PathBridge Financial, a firm that specializes in providing comprehensive financial planning and investment management services for clients that are nearing retirement and love to travel.

The Uncommon Path – December 16th Edition

December 16, 2021December 16, 2021 by David Tuzzolino CFA, CFP®

The Uncommon Path

Plan Wisely | Retire Well | Travel on Your Terms

In this issue…

Should you keep Medicare if you move overseas in retirement?
I-Bonds will offer an annualized 7.12% rate for at least part of 2022, do they make sense in your portfolio?
Ever feel like you’re booking your flight/hotel at exactly the wrong time? Expedia crunches the numbers and explains when to book and when to travel for lower rates
My Thanksgiving trip report gives you the scoop on how bad airports really were – not that bad actually

…and more!

Thank you for making 2021 a fantastic year for PathBridge Financial. Oddly enough, in a year where the COVID-pandemic has dragged on, the U.S. stock market has continued to march higher, travel has started to re-enter our lives, and PathBridge had a record year thanks to all of my wonderful clients.

2021 was a year that proved, trying to time the market is a bad idea. Would you have been fully invested if, on January 1, you had known about Omicron, Fed tapering, and the rate of inflation for the year? I’m guessing no.

What will 2022 bring? Undoubtedly, a new list of things to worry about and possibly the correction many experts have been forecasting. The U.S. large-cap market, including much of the tech universe, is rich by historical measures, so make sure you’re not overweight this group. A long-term outlook and a diversified portfolio containing attractively-valued investments, such as small-cap, international, and emerging market equities, remain a good idea.

I will keep this letter short and sweet since I know you have more important things to do during this time of the year. But I want to close by saying I hope the work we’ve done together this year has helped you move closer to your ultimate dreams and goals.

Thank you for allowing me to be a part of your lives, and I look forward to making an even more significant contribution in 2022.

Safe Travels,

David

Travel

If you want to get into the Christmas spirit, head to Cleveland. Yes, Cleveland. You’ll not only find the legendary Christmas Story house (leg-lamp included) but outside of the city is Castle Noel, a museum dedicated to Christmas movies with an eye-popping selection of famous movie props. Here you can slide down the Christmas Story department store slide, pose with Cousin Eddie’s Christmas Vacation RV (see picture above), and check out props featured in movies such as Elf, The Grinch, and The Santa Claus trilogy. I went a few years back, and if you’re a Christmas movie fan, you won’t be disappointed.

Did you travel for Thanksgiving? Was it as bad as the media forewarned? Here’s my blow-by-blow Thanksgiving Trip Report.

Ever feel that regardless of when you book a flight or hotel, it’s the wrong time? As in, it’s the time when you’re going to be charged a ridiculous amount more than if you just waited until Wednesday at 3 am? Worry no more! Expedia released their latest report outlining when to book and the best time to travel so you’ll get the top deals.

Bringing the international back to the Pittsburgh International Airport. Direct flights to London will start up again this summer!

The Incline has released its monthly guide on the Pittsburgh dining scene, including what’s opening and closing. I’m very excited that Chengdu Gourmet is opening a location in the North Hills, an area that is sorely lacking in mom-and-pop restaurants.

Retirement

Should you keep Medicare if you move overseas? Spoiler: Almost always.

Articles about the best places to live overseas are fine, but I’ve always preferred them when they dig into the numbers. Ever think of ditching the cold and moving to Antigua? Here’s a family that did it and exactly how much they’re spending.

Investing

If you follow me on LinkedIn, you’ll know I posted about this article earlier in the week. There are severe limitations to investing in I-bonds, including how much you can buy and how long you must hold them, but you can receive an attractive yield in the right situation. This article does a very nice job of explaining the pros and cons.

Own Vanguard funds? They have released their estimated year-end distributions.

Did you miss the last issue of The Uncommon Path? If so, you have a second chance to catch up on:

The 10-Year Treasury yield has increased by 1% or more fourteen times in the last 70 years – here’s how the stock market performed
My COVID-19 Travel Resource Guide for 2022
An incredibly valuable tool that will show you how to best use your points and miles to get the most out of travel
Are you using the Hopper app? You should be

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The Uncommon Path – December 2nd Edition

December 2, 2021 by David Tuzzolino CFA, CFP®

The Uncommon Path

Plan Wisely | Retire Well | Travel on Your Terms

In this issue…

The 10-Year Treasury yield has increased by 1% or more fourteen times in the last 70 years – here’s how the stock market performed
My COVID-19 Travel Resource Guide for 2022
An incredibly valuable tool that will show you how to best use your points and miles to get the most out of travel
Are you using the Hopper app? You should be

…and more!

Lori and David Thanksgiving

I hope everyone had a fantastic Thanksgiving. The pic above is Lori and I preparing for our airplane adventure. More to come next week about our trip to Oklahoma.

Just when the coast looked clear for 2022 to be a year filled with long-delayed travel, Omicron decides to ruin the party. It’s too early to tell whether this will be a slight hiccup on our way through this pandemic, or something more serious.

The stock market certainly wasn’t a fan of the news about a new variant as companies with economic sensitivity dropped this week. However, to keep it in perspective the S&P 500 is only down 4% from its highs as I write this.

Safe Travels,

David

Travel

Now, more than ever, travel information is crucial when planning a trip and while you’re traveling. I couldn’t find a good resource that compiled all of this information, so I created one. I just completed an update: Coronavirus Travel Advice – a Resource Guide for 2022.

If you’ve ever wondered how to best use your points or miles, Nerdwallet has put together an extremely useful tool that will show you exactly what to do. Should you transfer your points to another airline for the best deal? Which airline has the most attractive rewards chart for your destination? I highly recommend you check out this valuable resource.

Are you using the Hopper app? If not, you should be. I’m always on the lookout for new websites or apps to reduce the cost of travel and I’m surprised at how often Hopper has the best flight/hotel prices. The app will also alert you if it thinks prices will decline or if you should buy right away.

Retirement

Greece – the food, the history, the weather, and that Mediterranean lifestyle. What’s not to like? Have you considered Corfu or Crete? Maybe you should? Here’s an article that highlights the benefits of both locations.

If you’re a connoisseur of retirement books like me, you’ll appreciate this fantastic “best of” list put together by retirement expert Fritz Gilbert.

Investing

The 10-Year Treasury yield has increased by 1% or more fourteen times since 1950. Here’s how the stock market performed.

Did you miss the last issue of The Uncommon Path? If so, you have a second chance to catch up on:

You can contribute more money to your 401k in 2022!
There’s a new premium travel rewards card from CapitalOne
Want to retire abroad? Here’s an article with some unusual locations
The best travel books of 2021

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The Uncommon Path – November 4th Edition

November 4, 2021November 4, 2021 by David Tuzzolino CFA, CFP®

The Uncommon Path

Plan Wisely | Retire Well | Travel on Your Terms

In this issue…

Three ways to reduce your Pennsylvania taxes
What stock selection factors work best in an inflationary environment
A year-end financial planning checklist that’s worth your time
There are billions of miles the airlines would like to devalue; use yours before it happens

…and more!

Santorini, Greece

I’ve got a long list of places I’d like to visit in the next few years and Santorini, Greece is near the top. It’s hard to capture the island’s beauty in one picture, but this one does a pretty good job. I’ve been once before, and I’m ready to return.

Last week I completed an article titled – “Three Ways to Reduce Your Pennsylvania State Taxes and Save More Money.” As important as it is to reduce federal taxes, don’t forget your state tax burden either. Pennsylvania has several tax quirks that can cost you money if you’re unaware of them.

If you haven’t rebalanced your portfolio lately, now’s a good time. U.S. stocks have performed well this year and your international and emerging market holdings may be underweight. It might seem like this outperformance will last forever, but snapbacks can be rapid and brutal.

David

Travel

Uruguay is a South American country that doesn’t get a lot of publicity like it’s more famous neighbors, Argentina and Brazil. My knowledge of the country is next to zero, although I’m aware they have a competitive team at the World Cup every four years. This article on Uruguayan food caught my eye, describing it as South American staples with an Italian influence.

If you have an interest in flying and miles, JT Genter is a writer you must follow. In this recent article he gives us a timely reminder that while the worldwide pandemic has raged, airline miles have grown rapidly, and the airlines are sitting on a huge liability. Expect devaluations to come sooner rather than later. Here’s what to do about it before it happens.

Retirement

Another plug for my article – it’s worth a read if you’d like to save on Pennsylvania taxes when it comes to Roth conversions, the PA 529 program, and capital losses.

I’ve scoured the internet to find an excellent financial planning year-end checklist and this one delivers. The quick read is worth your time as the end of the year nears, especially as some opportunities disappear as soon as the ball drops.

Investing

The article on inflation in the last edition of the newsletter was a hit, so when I came across this inflation research by respected money managers O’Shaughnessy Asset Management, I knew I had to include it. Enjoy.

Did you miss the last issue of The Uncommon Path? If so, you have a second chance to catch up on:

A list of the best performing investments during inflation
The reasons a Health Savings Account is so powerful
The travel search engine I’ve been looking for all my life
Pittsburgh’s role in the birth of bourbon and my adventures on the bourbon trail

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The Uncommon Path – October 21st Edition

October 21, 2021 by David Tuzzolino CFA, CFP®

The Uncommon Path

Plan Wisely | Retire Well | Travel on Your Terms

In this issue…

- A list of the best performing investments during inflation
- The reasons a Health Savings Account is so powerful
- The travel search engine I’ve been looking for all my life
- Pittsburgh’s role in the birth of bourbon and my adventures on the bourbon trail

…and more!

For those of you wondering, this is what I was doing last weekend with Lori and a few good friends – spending a day on the bourbon trail. I think I look pretty happy in both pictures, but I might give the edge to my bourbon sample straight from the Bardstown barrel – sorry, Lori.

So what’s the bourbon trail?

It’s equal parts history, science, and deliciousness (if you like bourbon). And the fall is a fantastic time to visit because bourbon pairs well with a crisp autumn day.

By the sounds of it, the bourbon trail is a well-defined set of distilleries all lined up in a row. But in reality, it’s not that structured. Visit a few of the many distilleries in Kentucky, and you’re officially on “the trail.”

Most stops on the bourbon trail involve a tour that focuses on either the history of the distillery, the process of making bourbon, or both. There is a tasting at the end of each tour where you can sample the different types of bourbon the distillery produces. The variations are endless, and I can’t recommend it highly enough for anyone interested in bourbon or whisky.

Was bourbon born in Pittsburgh?
There are dozens of bourbon origination stories, but my favorite starts in Pittsburgh. An enterprising gentleman in the Steel City received an order for his white whiskey from a customer in New Orleans. Looking for the cheapest way to transport the liquor, he purchased large oak barrels that had previously stored fish. Not surprisingly, the barrels stunk, so he charred the insides to get rid of the smell. He filled the barrels and sent them on the long journey south. Along the way, bourbon was born, and history was made. True? Maybe, maybe not, but it sounds logical to this Pittsburgher.

Open enrollment
As a reminder, open enrollment starts in November for many companies, making it an excellent time to review your benefits. Please feel free to reach out if you have any questions about the process, as I’m always happy to help.

New name
I’ve changed the newsletter’s name from The Path Ahead to The Uncommon Path, and it will now be sent on the first and third Thursday of each month. Why? The new name better describes the newsletter’s content, and I wanted to be more consistent with its delivery.

Travel

Why has no one told me about Google flights before? It’s the airfare finder I’ve always dreamed about. You can use it like any other travel search engine, but the magic here happens when you only enter your departure city and travel dates. Leaving your destination blank produces a map with airfares across the country or even the world. Find a destination with a cheap flight and book away. You can narrow your search by price, airline, stops, duration, and more.

There are many videos on Youtube where you walk through a city, but this website has taken the city-stroll to a whole new level. Pick from one of 20 cities and travel through them by viewing extremely sharp camera-work. You can travel by foot, car, or train, during the day or at night. Listen to either a local radio station, the sounds of the street, or a combination of both. It’s the next best thing to being there and an exciting way to experience a new city in this time of difficult travel.

This list of 20 Great Retirement Travel Ideas does a very nice job of getting you to think about travel in retirement. What will you do? How will you budget for it? What should you not miss?

Retirement

Morningstar answers the question: Is it possible to save too much in your Health Savings Account? Spoiler alert – no, it’s not.

Why are Health Savings Accounts one of the best choices for saving for retirement? Vanguard illustrates how these powerful accounts perform their magic.

Investing

There are many theories about the type of investments that will do well in an inflationary environment, but this one from GMO is exceptional. This white paper is based on their excellent quantitative work and not merely a historical rule of thumb. If you’re worried about inflation, this paper is a must-read.

Did you miss the last issue of The Uncommon Path? If so, you have a second chance to catch up on:

One of the most important things you can do for the health of your retirement portfolio is rebalance now
Win the ex-pat life for a month in Portugal (pictured above), expenses paid – here’s how to apply
10 life-changing world tours to add to your bucket list
Who wins? Chase Ultimate Rewards Vs. American Express Membership Rewards

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10 Amazing Retirement Locations, My Podcast Debut, and Living the Hallmark Christmas Movie Experience – Links

October 29, 2021November 12, 2020 by David Tuzzolino CFA, CFP®

My mind is definitely wandering toward travel if these links are any indication. I think it’s the knowledge that winter is upon us up north and I will be seeing way more of the inside of my home. This dread coupled with the promise of a vaccine before too long has me thinking about the next trip. What I’ve been reading:

Retirement

Find out where you measure up when it comes to 401k savings – (U.S. News & World Report)

If you reach $1 million in your 401k by the time you retire, you’ll be ahead of the pack by many multiples. Start saving aggressively, and increase the amount every year. If you can meet the 401k max, you’ll be in good shape.

The top 10 countries to retire in – (Business Insider)

Have you ever dreamed about retiring overseas? It’s never too early to start scoping out potential locations.

Investments

I had the privilege of joining Kyle Hill, CFP®, on his podcast – Personal Finance from the Hill-Top. We talk about the basics of stocks, bonds, diversification, and more.

Travel

It’s going to be a long winter – embrace it! – (The Washington Post)

“Friluftsliv…translates to open-air living and exemplifies the tradition of making time outdoors part of daily life — whatever the season.” Take it from the Norwegians, because they know how to do cold. When you get tired of the indoors this winter, make the outdoors your friend.

19 hotels you’ll want to book just for the bathtub – (The Points Guy)

I haven’t take a bath in 40 years. Yes, I said it! I’m solidly in the shower camp, but I could change my mind if I had these views.

Towns to visit in Pennsylvania if you want to feel as if you’ve been dropped into a Hallmark Christmas Movie – (Travel Awaits)

This might not be the best year for a Hallmark Christmas Movie experience, but save this link somewhere special, and when travel conditions improve, you’ll have a Christmas destination mapped out.

If you’d like to subscribe to my newsletter, you can do so below. You’ll also get a PDF that shows you exactly what a comprehensive retirement plan for travelers looks like. Thanks for reading!

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146 Minutes of Fame

November 10, 2020November 10, 2020 by David Tuzzolino CFA, CFP®

Some people get 15 minutes of fame, I got 146 of them! It was my pleasure to join Kyle Hill, CFP® on his podcast – Personal Finance from the Hill-Top.

I put on my CFA cap and we walk through the basics of stocks, bonds, diversification, and more. You even get to hear me try to pronounce foliage.

Click on the link below to listen!

Personal Finance from the Hill-Top Episode #6 – Diving a Layer Deeper into Investments

Enjoy what you just read? If so, you can subscribe to my newsletter below. You’ll also receive a PDF that shows you exactly what a comprehensive retirement plan for travelers looks like. Thanks for reading!

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