Over the last ten years I’ve lost about 100 pounds. Okay, it’s actually the same ten pounds, gained and lost ten times. Blame it on the holidays, I guess. Sweet people sending me sweets. My wife’s deadly—the good kind of deadly—pecan pie. Hey, I’m not complaining. I love all that delicious stuff. But New Year’s […]
A Tale of Two Diets Read More »
I have no idea how many dieting books, fitness club memberships or getting-organized supplies are sold during the weeks just before and just after New Year’s Day…but I suspect it’s a big number. Something about a new year suggests a clean slate – a fresh opportunity to do it again, only this time get it
Don’t Regret Those Resolutions … Focus on Habits More Than Goals Read More »
At Christmas we focus on giving. The next day, we turn our attention to time. We review the year that’s ending and preview the year just ahead. So, how about some year-end (and year-beginning) reminders about giving and time? 1. You can give time to your money. What do I mean? We have this amazing
Christmas Thoughts on Giving, Money, and Time Read More »
In my financial planning practice, I meet with a lot of “Type A” entrepreneurs. Their number one question? “Couldn’t I be doing better with my money?” I always have to smile. These driven individuals are used to optimizing everything they touch—or at least trying to. If they have three rental properties today, they want to
What Airplanes Can Teach Us About Money Read More »
Though he was past traditional retirement age, he was living every businessperson’s dream. A healthy company. A strong management team. The freedom to come and go. “Maybe it’s time,” he told me. “Time to pass on my business to my adult children—even though they’re not actually in the business. I’m thinking that if they’d just
Four Components of a Good Succession Plan Read More »
Each Thanksgiving, I’m reminded of all the benefits that come from giving thanks. In fact, Howard Hendricks used to recommend “Thanksgiving Therapy.” He suggested writing the phrase “I’m thankful for…” on a pad of paper, then listing all the specific reasons you’re grateful. It’s a powerful exercise. Try it and you’ll discover—as I have—that Dr.
On the Simple Act of Giving Thanks Read More »
It was a 10k race, but at the 9k mark, I was gasping for air. My lungs were on fire. My legs were screaming at me to quit. Except that I had only one more hill to go. If I could climb it—honestly, it looked like Everest—I’d be close to the final turn where the
When the Finish Line Gets Moved Read More »
In my last column we looked at the difference between affluence and wealth. My simple definition of affluence is “your income relative to everyone else’s.” If you make $36,000, you qualify as an average Joe – you’re right in the middle of the income numbers for the rest of the country. However, someone making $36,000
6 Essentials for a Life of Wealth Read More »
“We’re gonna be rich!” Don bellowed as he beat his fist against the steering wheel. He drove a white Lincoln Continental with burgundy leather interior. It was longer than most living rooms and at that moment was lumbering down I-55 from St. Louis to Jackson, MS. The windows were down and his heart was full.
Who is Really Rich – the Affluent or the Wealthy? Read More »
You want to leave your estate to certain people. But suppose they die first. What then? Ideally, you’ve spelled out your wishes—and contingency plans for scenarios like this—in a written will. If not—and assuming you never get around to writing a will—Louisiana (assuming you live here) will use its “laws of intestacy” to essentially create
What If You Outlive Your Heir? Read More »
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