After another brutal tax season—digging up records for his CPA, trying to recall expenditures and hunt down old receipts, etc.—Bob vowed, “Never again!” He went online and purchased some money management software, thinking, “Next year, I want to be able to push a button and easily generate all kinds of accurate, detailed reports.” Last night, […]
Change: Short-Term Pain for Long-Term Gain Read More »
NFL quarterback Steve “Air” McNair was rich and famous. About a year after retiring from football in 2008, the former Tennessee Titan star died of sudden onset acute lead poisoning (a polite way of saying “his girlfriend shot him”). That’s when the world found out about McNair’s intestacy (a fancy way of saying “he died
The Problem of Dying Without a Will Read More »
How much does confident optimism matter in the marketplace—for job hunters, salespeople, entrepreneurs, and investors? That’s the subject we began exploring last week. We said that every person has a built-in emotional thermometer that measures how they’re feeling from one situation to the next. Some “run” a higher emotional temperature. That is, they’re usually “up”
Keeping Your Emotions from Hurting You Financially Read More »
I’m a financial planner, not a therapist. Nevertheless, I want to talk about your emotions. (Relax. I’m not trying to be Dr. Phil here. This will all make sense shortly.) We need to discuss emotions because everyday job situations and money matters stir up strong feelings inside us. And our reactions in those moments have
The Emotional Roots of Money Issues Read More »
Does this scenario ring a bell? You have an old friend from college, or maybe a sibling. They’re well off financially—and their luxurious lifestyle—house, cars, vacations, hobbies, etc.—screams it. Next to them, your income is meager, and your lifestyle is decidedly middle class. You try not to compare, but it’s tough not to notice all
Three Ways to Escape the Comparison Trap Read More »
I overhead a young person say, “This whole ‘financial planning thing’ seems so…far off. Like, it’s for this person I haven’t even become yet. Part of me thinks, just do it. Start being financially responsible. But another part of me says, ‘Relax! There’ll be time for that later. You’re not even dating anyone! You’re only
Have You Met Your Future Self? Read More »
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 »
An elderly couple told me this story:“Years ago, our son stole some money from us. We caught him, and he has since turned his life around. He’s married and has a wonderful family. He’s a good person. But he never did pay back the money he took. The subject just never comes up. “It wasn’t
What’s Wrong with Righting a Wrong in Your Will? 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 few weeks ago, I shared some remarks I recently made to a classroom of college students. You can go back and read my column from December 11th, but in summary I discussed the importance of dying well, living well, being “whole,” and remembering the truth that “life compounds.” The other four challenges I gave
Life Planning for College Students Read More »
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