Wit and Wisdom | Preserve Wealth Management

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We've been keeping up with the latest headlines...
here are two of our favorites worth sharing.

Your Money

Last week, Charlie Munger died at the age of 99. Charlie was the vice chairman of Berkshire Hathaway and Warren Buffett's right-hand man. The wit and wisdom of the Munger/Buffet duo made the Berkshire Hathaway annual meeting in Omaha somewhat of a pilgrimage for their most loyal shareholders.

At this year's meeting in May, he laid out the best advice for inevitable success:

"It's so simple to spend less than you earn, and invest shrewdly, and avoid toxic people and toxic activities, and try and keep learning all your life, and do a lot of deferred gratification. If you do all those things, you are almost certain to succeed."

Here's to investing shrewdly.

9 of Charlie Munger's best investing lessons and words of wisdom
by Nicole Lyn Pesce

Your Life

You make an appliance purchase, and inevitably, you are asked if you want to purchase the extended warranty. Is this worth it? The product should be new, work well, and come with a limited existing warranty. Why incur the additional expense? What could go wrong? Well, things can go wrong. Pros of an extended warranty include peace of mind, anticipated expenses (i.e., monthly fee vs. full repair costs), qualified technicians used, and time periods to suit your needs. Cons include being limited to one appliance, limitations on coverage, and the chance of never using it. Extended warranties usually come with a reasonable price, but an alternative way to get coverage is by using a home warranty. The difference between a home warranty and an extended appliance warranty is that a home warranty can protect multiple appliances rather than one. As with any warranty, please be sure to read it carefully. The coverage may not be as good as you thought.

Are Extended Appliance Warranties Worth It?
by Emily Glover

Complexity Simplified

Before leaving for an extended vacation, most people tend to look at their current fresh food inventory, whether in the pantry, fruit bowl, or refrigerator, and dispose of anything that will expire before they return. I really hate throwing out fresh fruits and vegetables that will not be consumed before a trip. I always keep a modest amount of lemons and limes and hate throwing those out. Well, did you know that you can freeze fresh whole lemons and limes? I’ve done it, and it worked well! I vacuum-sealed them in bags and took advantage of the zest while frozen. I made the mistake of juicing before it was fully thawed and got a slushy mess that I had to melt to get the juice. Now, I fully thaw first by immersing the fruit in hot water for a time or microwaving it in small time increments. Works so much better!

How to Freeze Whole Citrus
by Beth - Budget Bytes

Trivia

A: World War I
Q: Squab is a name given to the young of which bird?

Back in 1967, this song reached #1