Here is one example from the links in the “Investor Toolkit” tab that you might find useful – please share with your family and friends!
Major financial milestones throughout life
© 2013 Pawleys Investment Advisors, LLC. All rights reserved.
The most ancient mariners of Pawleys Island, the Loggerhead turtles, visit us every summer to nest within the dunes. It is a treasure to come across the evidence of their visit on an early morning beach walk, most often the trail they blaze from the surf to the dunes and back. Since they are designed for swimming, this trek is quite difficult. This is why it is so important for visitors to not leave any items on the beach overnight, and to fill in any holes and level sandcastles. Even with a smooth, unobstructed beach, mother turtles can be easily deterred from nesting, and return to the ocean and dump their eggs, making them unviable. Despite the dropping numbers of this endangered species, their wit and skill has served them well for about 40 million years. Not a bad track record. One turtle visited the north end of Pawleys Island last night and this morning, Camper and I saw her tracks:
Pawleys Loggerhead Trail June 13, 2013
The turtles are smart, but do not know how to spot a beach access trail. This turtle left her nest right at the end of a beach access trail, so the volunteers from S.C.U.T.E. relocated the nest slightly down the beach to a safe, quiet place in the dunes, well above the high tide mark.
Relocating the Pawleys Nest Safely within the Dunes
Here is an aerial view of their new home before it was carefully covered with sand:
Home for the Loggerhead Eggs for the Next 60 days or so Until they Hatch
Now the eggs will toast in the hot South Carolina sun for the next couple of months. Then, one magical night, the top of the sand will start moving as the first baby turtles dig their way to the surface. They will scurry back down to the ocean and start their amazing journey. These precious baby turtles will not know what the gracious volunteers from S.C.U.T.E did for them, but we will. Every now and then, even the ancient Loggerheads need a little assistance navigating the world! Thank you, S.C.U.T.E. volunteers, for helping the baby turtles.
This is a real baby hatchling from Pawleys Island
© 2013 Pawleys Investment Advisors, LLC. All rights reserved.
Municipal bonds offer several features, and many investors find them to be a great fit for the fixed income portion of their portfolios. It is easy to add some simple structure to your portfolio to optimize dollars in uncertain interest rate environments. With a little patience, you can also find bonds that will fit together to generate consistent monthly cash flow. By selecting different issuers across your respective state, you can also diversify your holdings. Let’s look a sample South Carolina municipal ladder I put together for you (these are actual bonds offered by one of my dealers, but this is NOT an offering of securities):
25M LEXINGTON ONE SCH FACS CORP S SCH PUR REV BDS 5% DUE 12/01/2014
30M DORCHESTER CNTY S C SCH DIST N GO REF BDS 4% DUE 03/01/2015
25M BEAUFORT CNTY S C REF GO BDS 5% DUE 02/01/2016
50M GREENVILLE CNTY S C GO REF BDS 2% DUE 04/01/2017
30M RICHLAND CNTY S C SCH DIST NO GO BDS 4% DUE 05/01/2018
30M BERKELEY CNTY S C SCH DIST REF GO BDS 5% DUE 01/15/2019
The first chart below shows the monthly cash flow from the portfolio, the second shows the principal amount maturing each year, and the pie charts break down the overall ratings and maturity dates.
The total par value of this portfolio is $190,000, but because the coupon rates are higher than prevailing market rates, the dollar cost is $207,230. The average duration (please see my previous article defining duration) is quite low at 3.057 for all six bonds. In 2014 when the first bond returns principle, the monies will be reinvested into another South Carolina municipal bond maturing in 2020 at the far end of the ladder, and so forth going forward each year. This strategy gives you the opportunity to, over time, obtain higher yields to maturity while having funds coming due each year for liquidity purposes. Structure for the fixed income portion of your portfolio is just as important as structuring your equity holdings.
© 2013 Pawleys Investment Advisors, LLC. All rights reserved.
Pawleys Investment Library 