Financial Planning

Financial Success Requires this DISH

In my column last week I introduced the idea that the wealthy know a “secret” the rest of us don’t.  It’s the idea that success—financial or otherwise—doesn’t come because of a single grand action. Rather, it’s the result of a thousand small steps and smart habits. Perhaps you remember the nineties business book Built to …

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The Little Secret to Big Financial Success

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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The Problem with Those “Average Returns”

An old joke says that if you keep one foot on a hot stove and your other foot in an ice bucket, on average you should be comfortable. That line always makes me smile. It underscores a reality in the world of markets and investing—averages can be both mathematically accurate and experientially awful.  Case in …

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Do These 3 Things When the Market is Soaring

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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3 Ways to Improve Your (Financial) Self-Image

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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Will Your Retirement Income Be Enough?

How much income will you need in retirement? Here’s an eight-step plan for figuring that out. 1. Start with your current income. As an example, let’s assume you make $100,000 annually. 2. Assume some inflation. No one knows what inflation rates will be between now and your retirement. What we do know is that postage …

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