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 »
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 »
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 »
Ron and Sharon started a little side hustle…that unexpectedly morphed into a booming business. Initially, all those happy customers—and that sizable bump in income—were thrilling. But in time, their growing enterprise became a 24/7 obsession. Says Sharon, “At first, it was fun telling people, ‘We’re business owners!’ Now it’s more like ‘Ugh! This business owns
Are You a Victim of Your Own Business Success? Read More »
There’s an old maxim that “Two can live as cheaply as one.” Is that true? Or is it what people used to call “an old wives’ tale”? Consider… In 2006, in a State of Our Unions report from the Institute on Marriage at Rutgers University, Barbara Dafoe Whitehead declared, “Marriage is a wealth generating institution.”
Is Marriage Good for Your Financial Health? Read More »
It’s the time of year that people approach me for help in shoring up their finances. One of the questions they inevitably ask is, “What kind of rewards card do you recommend?” I always tell them the best rewards card I’ve ever seen is the one with the name of a wise financial planner on
A Wiser Plan for Spending in 2024 Read More »
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