In discussions of life insurance, you’ve probably heard someone say, “Buy term and invest the difference.” Some have suggested this popular mantra originated with financial guru Suze Orman or perhaps Andrew Tobias (in his 1978 book, The Only Investment Guide You’ll Ever Need). Others attribute the pithy sales pitch to insurance magnate A. L. Williams, […]

As people near retirement, most ask some version of this question: “What financial risks should I watch out for in this next chapter of my life?” The answer is not that complicated: Many of the same risks you face now—plus a couple more. Here’s why that’s interesting: If you are about to voluntarily retire, you […]

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, […]

I once asked a potential client if he and his wife had long-term care insurance. “Oh, we don’t need that. Neither of us wants to go into a nursing home.” “I understand,” I said. “I hope that never becomes necessary. But here’s a reality most people aren’t aware of: I shared three more realities with […]

Ralph has always been aggressive when it comes to investing. But as he ages, he’s second-guessing himself more and more. Is my approach the best approach? Here’s what I’d tell Ralph: It depends on how you define financial success. I find people define financial success in three broad ways. Often these definitions are unconscious and […]

When my oldest son walked across the stage at his college graduation, my wife got all emotional.  A month later, when he called home and announced, “Dad, I got a job!” I was the one who got emotional.  Here’s the advice I gave him as we discussed what to do with his paycheck. (Note: It’s […]