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
Stop Assuming and Start (Estate) Planning Read More »
Here’s a fun, indoor thing to do on the next rainy day. Type the question “What do people fear most?” into your preferred search engine and look at the results. We humans are scared of all sorts of things: failure, change, heights, snakes, the dark, giving speeches, being alone, being confined in small spaces, being
What To Do About Financial Fear Read More »
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
Financial Success Requires this DISH Read More »
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
The Little Secret to Big Financial Success Read More »
Speak with an Advisor