Long-term care is expensive. And sometimes it costs a lot of money too. There may not be a great deal of cash changing hands as a result of someone’s gradually increasing need for long-term care, but that doesn’t mean a steep price is not paid. And often, that price is paid by the healthy spouse. […]
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“Money can’t buy happiness…but it can buy cows. And cows make milk, and milk makes ice cream, and ice cream makes you happy.” This is the sort of wisdom you pick up in a Colorado bookshop while on vacation. Maybe it was the thinner air, but after I chuckled, I thought, “Wait a minute…that’s really
What If Money CAN Buy Happiness? Read More »
Comedian Bob Hope once quipped, “A bank is a place that will lend you money if you can prove you don’t need it.” We chuckle, but it’s true. Lending institutions couldn’t stay in business long if they loaned money to folks who couldn’t repay them (with interest). So banks are careful. They consider the risks
Is Your Debt Destructive or Constructive? Read More »
Clients often ask, “Do I need to budget?” When I reply, “Maybe, maybe not,” they look at me like I’m a weight loss guru who just offered them a cheese Danish. “Wait—you’re a financial planner! Aren’t you supposed to tell me to budget?” My experience is that only about 10% of my clients budget. And
The Surprising Truth About Budgeting Read More »
All the financial whizzes like to say, “You need to be saving money!” Maybe you’d like to, but you don’t know how. (If so, how’s this for a hook: You will by the time you finish this column!) First things first: Saving is a habit. Like all habits, it requires motivation and momentum. If you’ve
In the Disney film Glory Road, a star basketball player at Texas Western University is on the verge of flunking out. In desperation, the coach summons the young man’s mother. She marches onto campus and proceeds to turns her son’s world upside down. She even attends class with him and “volunteers” him to recite all
3 Ways to Avoid Wrong Business Priorities Read More »
When the iconic Mission Impossible music starts blaring, we all know what’s coming. A fuse has just been lit! The clock is ticking! It’s up to Ethan Hunt (played perfectly by Tom Cruise) and his talented team of spies to save the day again (they’ve done it six times so far). They’ve got two hours,
Tom Cruise and Your Financial Future Read More »
“Don’t get a haircut!” That was my father’s reaction years ago when I told him I was about to have a professional photograph taken. I was baffled. I had no more hair then than I do now. Why this odd advice? Dad proceeded to tell me about his own experience. He’d once had his picture
The Problem with Financial Plans Based on Sad Stories Read More »
Some see “debt” as the foulest of all four-letter words. “All it does is reveal a lack of discipline,” they insist. “All it does is cause major stress.” I agree it’s a bad idea to use debt to buy items that decrease in value over time. And, yes, indiscriminate borrowing often stems from a failure
Some Surprising Thoughts on Debt Read More »
Here’s a shocker: Forbes estimates that nearly two out of three Americans do not have a will. No clear instructions for survivors. No written record of “Here’s how I want my property distributed.” Even the “rich and famous” are part of this will-less majority. The artist known as Prince died without a will. So did
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