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Jesse Cramer

The Fog of Omnipresent Risk 😶‍🌫️

Published 1 day ago • 2 min read

Good morning! I hope this email finds you well.

Today's email includes:

--an article about omnipresent risk and the fogginess of the future

--an "ask me anything" podcast episode, including a common error about tax rates in retirement

--other articles about the five levels of wealth, investor friction, and wisdom from Kevin Kelly

Are You in SoCal?

Do you live near...

Huntington Beach?

Palm Springs?

San Diego?

I'm speaking at back-to-back conferences the week of September 14-18. FutureProof in Huntington Beach, then FinCon in Palm Springs, then flying back home via San Diego.

I always enjoy meeting my readers and listeners.

Please - reach out and let me know! With enough interest, I'll organize an official gathering or two!

Foggy As It Ever Was

In August 1979, Warren Buffett wrote an article for Forbes attacking the herd instinct of investors.

The late '70s were tough for the American economy, and the stock market reacted harshly.

Buffett wrote,

“…the future is never clear; you pay a very high price in the stock market for a cheery consensus. Uncertainty actually is the friend of the buyer of long-term values.”

We can learn from that here in 2026.

Even Pros Make This Simple Tax Planning Error

Effective tax rates or marginal tax rates…which one matters?

Different experts have different opinions.

And the difference is...huge.

We tackle this question, and more, on Episode 149 of Personal Finance for Long-Term Investors.

Other topics on this "ask me anything" episode include:

-- "I'm at my retirement number, but this stock market is too crazy…should I adjust my portfolio?"

-- What about flexible spending rules in retirement? Which are good, which aren't, and how to use them in practice.

Tune in to Episode 149, on all podcast players.

The Top 3...

I enjoyed this content recently. I hope you do too.

​The 5 Levels of Wealth​

Catchy title, I know. Maybe too catchy.

But I thoroughly enjoyed what Darius Foroux has to say in this article.

But there's a specific reason: I think many people reach Level 4 then struggle to reach Level 5.

Even though Level 5 doesn't require any more money!!!

​"Friction Matters More Than We Think"​

It's easier than ever to make bad investment decisions.

"One of the key lessons from behavioral science is that if you want to encourage a behavior, make it easy, and if you want to discourage it, make it hard."

​Wisdom From Kevin Kelly...​

I've long appreciated Kevin Kelly's wisdom. His advice has been instrumental in my blog, podcast, and this newsletter.

In this article, he shares,

"I’ve managed to do a lot of things without having much money at the start. Here are some tips that I have used..."

I Help People Retire (Even) Better

I'm a Partner at a fee-only fiduciary retirement planning firm.

We work with clients all over the USA.

If you know someone who needs help, visit PlanWithJesse.com and let's start a conversation.

Until Next Week...

Thank you for reading, listening, and writing back. People like you send me questions every day.

I'd love to hear from you. ​​

All the best,

Jesse Cramer

Jesse Cramer

Smart ideas about money and retirement.

Retirement is a different game. You’ve spent decades building wealth. Now comes the harder part - turning it into a paycheck that lasts. I’m Jesse Cramer. I help DIY investors turn their savings into a clear, cohesive retirement plan. Join 4000+ weekly readers and 20,000+ podcast listeners.

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