“You can pay me now, or you can pay me later.” That was the tagline from a famous Fram Oil Filter ad campaign back in the 1970’s. It featured a grizzled auto mechanic holding up an inexpensive oil filter, then pointing over his shoulder at a car engine in need of an expensive rebuild. You […]
Paying for Retirement – Now vs. Later Read More »
Who knew we could glean financial insights from the World’s Strongest Man competition? If you saw it recently, you know the winner was a 28-year-old Scot named Tom Stoltman—all 6’8” and 384 pounds of him. This year’s contest showed that if you ever have an 18-ton bus blocking your driveway, Tom’s your guy. Just give
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In the 1960s, going to the dentist meant a little white spittoon by the dental chair and a whole lot of pain. Our dentist at the time—I’ll call him Dr. Hurt—thought only sissies needed anesthesia for a “little thing” like drilling and filling a cavity. Translation? Going to see Dr. Hurt was stressful! One day
Smart Plans vs. Plans That “Smart” Read More »
I had hip surgery last week. Man, did that ever hurt! Beforehand, I researched the procedure, the surgeon, the health facility, and the outcomes of others who’d had the same surgery. What I didn’t focus on is the grueling rehab patients have to do after surgery. I didn’t think to ask, “How much pain will I
What Pain Can Do for Us Read More »
After two years of masking up and shutting down, we stir-crazy Americans are traveling again! Beaches are packed, Disney is bustling, and national parks and campgrounds are turning away visitors. Our renewed wanderlust means a reintroduction to a regular feature of road trips: potholes! We’ve all had the unpleasant experience of driving along and hitting
Five Financial Potholes (and How to Fix Them) Read More »
Back in the 1970s, an OPEC oil embargo sparked a period of hyperinflation in America. To clamp down on rising prices, Fed Chairman Paul Volcker raised interest rates. By 1981, you were lucky if you could find a home mortgage for less than 16%. Business loans were going for 25%. On the bright side, if
The Problem with Financial “Extrapolation” Read More »
“DOUBLE YOUR NEST EGG” the headline screamed. “Now’s the time to jump into cheap stocks, funds and real estate.” Bad timing for a magazine called “Smart Money.” This headline was on the cover of the October 2008 issue—immediately before an epic financial crisis and market meltdown. In early October 2008, the Dow Jones Industrial Average
Timing is Everything (but Predictable) Read More »
When I was in my 20s my father sold his business and retired. His commitment was to give a portion of the proceeds to charity. But he also wanted that money to have a long-term impact…on worthy local causes and also on his family. So, following some good advice, he and my mother created a
A Legacy of Generosity Read More »
A lot of people use the term “financial plan” to refer to “a savings and investment plan.” I always wince. I’ve yet to meet someone who says, “My life goal is to save and invest money.” What people tell me is, “I want to save and invest money so that one day I can …”
The Problem with Most Financial Plans Read More »
Each year the college basketball season concludes with a tournament known as “March Madness.” Part of the appeal is that there’s often a team from a small school that gets on a roll and beats several heavily favored opponents. Fans love these David vs. Goliath storylines. This year, in the men’s bracket, the unlikely underdog
Are You Betting Against the Odds? Read More »
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