A man confessed: “My business did really well last year. Unfortunately, my CPA just told me what I owe in taxes, and I’m in shock. I don’t have the money! I reinvested it in my business. If my wife finds out about this it will send her into a tailspin. Should I just handle it […]
How to Avoid Lost Trust Read More »
A man told me, “I read lots of books and articles about personal finance, but I don’t seem to have the self-discipline to put all those good ideas into practice.”He’s not the only one. I’m convinced this disconnect between “knowing what to do” and “doing what you know” is at the root of most financial
Three Things a Financial “Coach” Can Do for You Read More »
Someone told me they have two primary emotions whenever they think about their financial situation: “It seems like I’m either frustrated or mad. Is that weird? Should money always make me so upset?” This admission reminds me of a book written more than 50 years ago by Elizabeth Kubler-Ross in which she discussed five distinct
Money Grief … and How to Leave It Behind Read More »
A client recently asked this question: I’ve got some money I’d like to leave to my grandkids. I want it to grow, but I’m not comfortable putting it at risk in the market. Meanwhile, safer investments like CDs seem like they’re barely keeping up with inflation. Do you have any suggestions? It’s a classic case
A Question About Safe Money Read More »
A client told me: “I grew up poor. I was the first in my family to attend college. Now I have a comfortable income. But because of my background, I tend to be cautious with my money. Sometimes I wonder if I’m too cautious.” Hearing that, I thought of an interview with Erin Botsford in
What Bad Financial Experiences Do To (or For) Us Read More »
A subscriber wrote and asked: I’m retired and widowed. My two adult sons still depend on me to pay some of their bills—even though one of them has a job. (The other can’t seem to keep steady work.) I’m worried that when I’m gone, they are going to fight over my money, even though I
Adult Children Dependent on Parents Read More »
The week after Christmas is a strange hodge-podge of activity, isn’t it? We head for home, take down holiday decorations, and return gifts. We worry about how much we overspent…and resolve to “do better” in the coming year. I’m convinced the week after Christmas is the perfect time to review the year that’s been…and look
A Financially Perfect 2023? Read More »
Occasionally I get invited to speak to college students about life, money, and success. In fact, I’m scheduled to do that tomorrow. Here are the four reminders/suggestions I plan to share with them. Die well. Soon after you arrived on campus, you realized, “Not everybody thinks the way I do.” That’s actually a good thing.
Life Planning for College Students Read More »
A car breaks down on the side of the highway. The couple can’t remember the last time they had an oil change. A man lies nervously in pre-op awaiting a heart-lung transplant. He recalls his first cigarette and wishes he’d never started smoking. A couple wrangles in divorce court, arguing bitterly over custody and property.
Preparing Beats Repairing Read More »
What’s the most overused phrase in the English language? Here’s a vote for “the new normal.” (“At the end of the day” runs a close second.) Pundits talk endlessly about “the new normal” in healthcare, politics, foreign relations, sexuality, the climate, the workplace—you name it. One exception is the financial world where I’m seeing a
Welcome Back to “The Old Normal” Read More »
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