Sorry to report that one of my Class of 1957 classmates, Bob Stewart from Bellevue High School (who took a year at Stanford University before coming to Washington and pledging with me), passed away four days ago in Scottsdale, Arizona from the effects of a cancerous tumor upon which he was being treated.
Bob graduated a year ahead of the rest of us, due to his head start down in Palo Alto, and progressed into a career as a fighter pilot with the U. S. Air Force.
At his request, knowing of the potential that he wouldn’t make it through treatment, there will be no services honoring his life and the contributions he made in our national security. We all owe those who have served their country……. as their vocation….a special gratitude.
Steve Day ’75 filled us in on his undergraduate days, and then shared what he has learned in nearly 30 years of financial planning.
At our luncheon Steve assumed the role of “Myth Buster”, and he took on a number of common myths that are often accepted as fact. Of course, he attributed this “acceptance” as fact to the lack of good reporting by journalists. And he explained much of this view throughout his dealing with the “Myths of Finance”.
Here are some of the myths that Steve posed and then addressed
Myth #1 — There is no “free lunch” in investing
Myth #2 — Stock markets do better under Republican administrations than under Democrats
Myth #3 — The way to go is to buy gold (This was a great topic as Steve compared the quality of suit an ounce of gold would buy over the last two centures.)
Myth #4 — When you are young, you buy stock. When you retire, you buy bonds.
Myth #5 — Social Security won’t be there for me when I retire.
Myth #6 — Cash value life insurance is a lousy investment
Steve has a clever sense of humor that added much color to his addressing each of the above myths. And he had a few more that he brought to our attention. The information to busting these myths is best obtained directly from Steve. Our publishing some of his comments here would likely lose much in the translation.
All in all, it was an informative and entertaining look at old “truisms” about managing your finances.
Michael H. MOSES Age 67, of Tacoma, died August 29, 2008 at Swedish Hospital, Seattle, surrounded by his loving family. He was married to Marilyn for 45 years. Other survivors include his daughter Jennifer (Jerry) Gibbs, son Jeff Moses, grandchildren Alexandria, Taylor, and Jadyn, and brothers Jim (Francie) Moses and Cliff (Cathy) Moses. He worked for Grange Insurance Association for 37 years and was highly honored. He was Chief Finan cial Officer at the time of his retirement in 2000. He loved cars, especially Cor vettes, and enjoyed hunting & fishing. He was active at Northwest Church in Federal Way for many years and took to heart Oswald Chambers saying of “being of value to God wherever you are placed”. Funeral service will be held at 11:00 a.m. Thursday, September 4, 2008 at Northwest Church, Federal Way. Interment at Mountain View, Auburn. Marlatt Funeral Home, Kent. In lieu of flowers, donations may be made to the Cystic Fibrosis Foundation.
Published in The Seattle Times from August 31 to September 1, 2008
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