When my oldest son walked across the stage at his college graduation, my wife got all emotional. A month later, when he called home and announced, “Dad, I got a job!” I was the one who got emotional. Here’s the advice I gave him as we discussed what to do with his paycheck. (Note: It’s […]
Secrets for Successful Saving Read More »
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
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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 »
How much does confident optimism matter in the marketplace—for job hunters, salespeople, entrepreneurs, and investors? That’s the subject we began exploring last week. We said that every person has a built-in emotional thermometer that measures how they’re feeling from one situation to the next. Some “run” a higher emotional temperature. That is, they’re usually “up”
Keeping Your Emotions from Hurting You Financially Read More »
I’m a financial planner, not a therapist. Nevertheless, I want to talk about your emotions. (Relax. I’m not trying to be Dr. Phil here. This will all make sense shortly.) We need to discuss emotions because everyday job situations and money matters stir up strong feelings inside us. And our reactions in those moments have
The Emotional Roots of Money Issues Read More »
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