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 »
Most parents eventually think, “College…oh yeah…what’s THAT going to cost?” Smart question to ask—and answer—ASAP. (Have you checked the price of higher education lately?) According to SoFi, as of the 2022-23 school year, a four-year degree from Harvard (tuition, books, and all other expenses) now runs $334,152. If you want to tack on a degree
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If you had invested $100 in an S&P 500 index fund on January 1, 2020, it would have been worth… Which raises the question: Is this kind of volatility normal? Maybe we need to define “normal.” One wag has suggested that the only normal people are the ones you don’t know very well yet. The
Why the Stock Market Goes Up Read More »
I get this sort of question often: “A friend introduced me to a very nice Christian man who is recommending I put my money into some kind of annuity or bonds or something like that. I’m not a stock market person. I don’t understand finances, but I really like this young man. He seems so
The Person Behind the Plan Read More »
This is for the person who feels financially “gloomy.” Keep reading only if: (a) you’re convinced the economy will be bad for a while; and (b) because of that belief, you’ve put a halt to investing and all other financial moves. I understand why you feel cautious. I get wanting to be safe and watch
What to Do in (Financially) Gloomy Times Read More »
Most people I know have taken at least one of these famous “personality tests”: It could be that you’re a “high D” or an INTJ or an Enneagram 3. Whatever the case, these assorted assessments (and all the others like them) are a fascinating reminder of just how differently we’re wired. And it’s not just
What’s Your Retirement Income ‘Personality’? Read More »
An exasperated client told me,“My wife keeps saying we need to get our wills updated. I tell her, “Why? We already have wills, which is more than most folks can say. We’ve covered all the big stuff! Why fuss over the details?” There’s a lot to like about the mindset that says, “Don’t sweat the
When Small Stuff Becomes a Big Deal Read More »
Should you be part of a large investment group and guarantee a large loan for a business deal? It depends on a number of factors: Remember, when farmer Brown comes into the barnyard with a hatchet in his hand, not all the chickens are at risk…just the fat ones. Consider the case of Mark Brunell.
Before You Invest in that Sweet Deal … Read More »
How do you know if your investment manager is doing a good job? (Especially when the markets are so volatile.) Before we answer that question, let’s remember what an investment manager is and isn’t. A good investment manager is not… 1. An Economic Alchemist. In ancient times, alchemists were individuals who claimed the ability to
What an Investment Manager Is (and Isn’t) Read More »
A client recently asked this question: I’ve got some money I’d like to leave to my grandkids. I want it to grow, but I’m not comfortable putting it at risk in the market. Meanwhile, safer investments like CDs seem like they’re barely keeping up with inflation. Do you have any suggestions? It’s a classic case
A Question About Safe Money Read More »
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