I hear stories like this all the time: “So, this guy talked me into putting some money into his investment opportunity. Frankly, he just wore me down. I’m not sure how that investment’s doing, or even if this guy is on the up and up. Suggestions?” Two words: Take responsibility. Financial problems begin when you […]
Take Responsibility for Your Money Read More »
As I type this sentence, you can purchase a fancy Viking 7 refrigerator/freezer online for just under $30,000 (that’s $2K off). Or you could drive to your local home improvement store and get a Whirlpool model on sale for $1,499. Which one’s “better”? It depends. Suppose you buy the Viking and park it in your
When Planning Becomes Procrastinating Read More »
They were an easy-going couple who rarely squabbled—UNTIL he suggested they create (and live by) a budget. Each time he gently brought up the subject, she got defensive. He walked away muttering to himself. They remind me of a story I heard John Maxwell tell. A friend showed him a list of New Year’s resolutions:
Why It’s Hard to Change Financial Habits Read More »
Every day we face a variety of financial decisions: When it comes to making financial choices, my observation is that some people struggle all the time, and all people struggle some of the time. What’s behind this reluctance to choose? After decades as a financial planner, I’m convinced most of our indecision is caused by
Three Cures for Financial FOMO Read More »
NFL quarterback Steve “Air” McNair was rich and famous. About a year after retiring from football in 2008, the former Tennessee Titan star died of sudden onset acute lead poisoning (a polite way of saying “his girlfriend shot him”). That’s when the world found out about McNair’s intestacy (a fancy way of saying “he died
The Problem of Dying Without a Will Read More »
The next time you fail financially—losing a sale or a job, making a bad investment—I hope you’ll think of Tom. Tom’s head was crammed with ideas he was certain would change the world. Yet more times than not, when he tried to bring those ideas to life, he failed. Tom inspires me because he refused
5 Ways to Profit from Failure Read More »
The movie classic Gone With the Wind ends with Scarlett O’Hara…procrastinating. “I’ll think about that tomorrow,” she declares in her exaggerated Southern drawl. “After all, tomorrow IS another day.” I can’t tell you how often I meet people who embrace that “later” mindset when it comes to their financial futures. They say things like, “I
5 Reasons You Need to Engage in Long-Term Financial Planning Read More »
Your mutual fund got clobbered in 2023. You’re wondering if your mutual fund manager is out of sync with the times. How long do you wait before you dump him/her? Therein lies the problem with looking solely at last year’s results—they are so…last year. To fix something that’s not working, you have to analyze not
Why Performance Isn’t Always the Best Measure Read More »
Bob claims he wants a second home on a lake where he can build memories with his kids. He’s asking, “How do I accomplish my goal?” To be fair, Bob’s “goal” is really more of a daydream at this point. Nothing wrong with that. Daydreams are harmless fun. They CAN lead to goals; usually, however,
The Five Qualities of a Good Goal Read More »
Last week we met Ron and Sharon, the couple who started a little side hustle, watched it boom into a profitable business, and then lamented how this “blessing” of a company had completely overtaken their lives. I described three stages many business owners go through. I argued that the essence of contented simplicity is saying
A Saner, Simpler Life for Harried Business Owners Read More »
Speak with an Advisor