Does this scenario ring a bell? You have an old friend from college, or maybe a sibling. They’re well off financially—and their luxurious lifestyle—house, cars, vacations, hobbies, etc.—screams it. Next to them, your income is meager, and your lifestyle is decidedly middle class. You try not to compare, but it’s tough not to notice all […]
Three Ways to Escape the Comparison Trap Read More »
With inflation lingering like a chronic cold, everyone is looking for ways to stretch their dollars. Credit card companies know this. That’s why we constantly get all those offers for “rewards cards.” Use card X and get airline points…card Y and get “free” hotel stays…card Z and get cash back. You’d be nuts not to
About Those Great “Rewards” Cards Read More »
You probably have a friend who thinks about money and investments all the time. (Or, perhaps, YOU are that friend.) You know the type: Always monitoring the markets. Constantly trying to identify the hottest mutual fund. Relentlessly keeping one eye on CNBC or Fox Business. For some, this hyper-focus on money is thrilling, almost addictive.
Preparation Beats the Quest for Perfection Read More »
Someone recently said to me, “Your columns and emails haven’t been very upbeat lately. You turning pessimistic on us?” Me, pessimistic? Never! The word “pessimism” comes from a Latin root meaning “worst.” Seeing things in the “worst” possible light doesn’t do anyone any good. The mantra for pessimists is “Why even try? Nothing ever works
Pessimistic, Optimistic, or Realistic? Read More »
Many adult children tell me: “My parents desperately need to do some estate planning. However, because we’ve never talked much about financial matters in our family, I don’t know how to urge them to take action.” I have heard this sentiment often. So frequently, I want to take this opportunity to speak to older moms
Three Things Your Adults Kids Want to Say to You Read More »
Let’s talk about credit card debt—and how to get out. If you gulped at that sentence and thought, “How did you know?” you need to understand this: You’re not alone. I get a steady stream of people in my office seeking freedom from the miserable consequences of buying more than they can afford. Most are
Escaping the Credit Card Debt Trap 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
How to Pay for College Read More »
Susan’s getting close to retirement. She has money in two mutual funds and in a traditional IRA. Susan loved the tax break she got annually on her IRA contributions while she was working. But now she’s realizing she’ll have to pay taxes on that money when she starts withdrawing it. Consequently, as she plans for
Thinking About Taxes and Retirement Read More »
Can money buy happiness? More than a decade ago, Nobel Prize-winners Daniel Kahneman and Angus Deaton decided to tackle that question. They studied the results of a 2008-2009 survey of 450,000 Americans (i.e., the Gallup-Healthways Well-Being Index). Kahneman and Deaton observed that the more people earned, the more inclined they were to report being happy—up
Can Money Buy Happiness? Read More »
As a financial advisor, I’m often asked: “Are student loans a wise investment in my future…or a bad idea?” Let me offer some facts, an example, an update, and some advice. Some facts: What does all that borrowing cost? Current interest rates on federal loans range from 4.99%-7.54%. Private loan rates range from just under
Student Loans: Smart Investment … or Big Mistake? Read More »
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