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 »
I grew up watching Let’s Make a Deal with Monty Hall. Eager audience members would scream wildly, pleading with Monty to pick them to play the game. Once Hall had chosen someone to play, announcer Jay Stewart would bring down what looked to me like a TV dinner trey with a small package on it.
“I should get on a budget.” Ever say that? It’s really an admission that budgeting isn’t easy or fun. (If it were, everyone would be doing it, right?) So, if you’re one of those who doesn’t have a budget, why bother trying to create and live by one? Because having a firm spending plan—which is
Budgeting isn’t “Rocket Surgery” Read More »
“Honey!” the mother pleads, looking into her adult daughter’s eyes. “I just want you to be happy. Listen to your heart!” This line (or one like it) shows up in every sappy Hallmark movie I watch with my wife. I can’t imagine worse advice to give someone—whether in the area of romance, parenting, career advancement,
Why Listening to Your Heart is a Bad Idea Read More »
In my 100% polyester, off-white leisure suit with its bell-bottomed pants and extra wide lapels, I thought I was hot stuff. My lime green nylon shirt sported a lion’s head on the back. My ensemble was made complete with platform shoes and a puka shell necklace. Oh, and I should mention my hair—blown dry and
Falling for Financial Fads? Read More »
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