Most folks are convinced the wealthy know some big financial “Secret” the rest of us don’t. Like, they went to “the right” school and met “the right” people. Or they heard about Tesla before anyone else did, or got in on the ground floor of Amazon. Or somehow, they cracked the code on those free […]
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Do you live within your means? If you answered yes, that’s a problem. Here’s why. Caleb and Jessica bought a new house last year and spent more than they planned. The expenses that accompanied their new home were more than expected. “We are still living within our means,” they explained to me, “but we can’t
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The stock market is at an all-time high. Which is great, right? Your 401(k) has never been higher, and you’ve never been richer! But wait. “What goes up must come down,” right? If the market is soaring now, is a dip—or a crash—just ahead? It’s a dilemma: Should we be content or concerned? Should we
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When it comes to money, are you: (a) a financial wiz; (b) your own worst enemy; or (c) somewhere in between? In my 30+ years as a financial advisor, I’ve observed that by adulthood most people have developed a “financial self-image.” Maybe you’re one of those few souls who see yourself as good with money,
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Bernie Madoff died this week. Madoff was the architect behind the biggest Wall Street fraud in history. The former chairman of the Nasdaq stock market index, Madoff positioned himself as a self-made financial genius. He claimed to know how to avoid market fluctuations and deliver steady, handsome returns. Famous clients like movie director Steven Spielberg,
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I get questions all the time about saving for retirement. Clients ask: How much should I be setting aside each month? How big of a ‘nest egg’ do you think I’ll need in order to retire comfortably? Will Social Security run out of money before I’m 65? Should I even count on that? What mutual
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Life is made up of promises, big and small. From marriages, to mortgages, to meals delivered on time, we depend on others—as they depend on us—to keep the promises that have been made. Take the young man who pledges to be faithful to his young bride “till death do us part.” That’s a promise he
Making and Keeping Promises Read More »
Recently I spoke with someone who runs the computer network for a large company. When most employees started working from home due to COVID-19, this man was able to see what each worker was doing all day every day. “I could save my company a million dollars,” he said. “I can tell who’s working and
How Hard is Your Money Working for You? Read More »
When you hear about someone making a fortune in the stock market practically overnight, don’t you sometimes think, “Why can’t that be me?” We saw it again in recent days. In brief, a group of “wolf of Wall Street” types were betting against GameStop, the video game retailer. They were hoping to make millions when
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The man told me he wanted to begin investing. He realized if he never invested his money, it could never grow. And if his money never grew, he’d never get to retire…at least not to the lifestyle to which he was accustomed. Ideally, the man said, he wanted the long-term growth available only in the
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