I was talking with one of my friends about a recent experience she had while watching a movie that is a twist on an old Disney fairy tale. It made her question some of the “financial fairy tales” that she believed, based on her life experience. Here’s her story: Continue reading “Do You Still Believe These Financial Fairy Tales?”
I recently read this article about how the real question in life isn’t what you want. It’s what pain you want. We all have unlimited wants, but what are you willing to struggle for? What price are you willing to pay? Continue reading “The Question That Will Determine Your Financial Success”
I read this article today and found it very interesting. I spend a lot of time talking to people about their financial lives and I often see some of the behaviors/attitudes discussed in the article. Money freaks people out. Continue reading “Money Messages and How We Harm Ourselves”
Last week, I talked about the messages you give yourself prior to setting goals. In the next 60 days, you’re going to hear a whole lot of political messages talking about the poor, the middle class, and the rich. I’m not going to get into a political discussion about which policy positions I think would be best for the country, but I will talk about some financial behaviors and attitudes discussed by the author, Steve Siebold, of a book called How Rich People Think. I read an article written about 21 ways rich people think differently. While they are all important differences, a number of them stand out as things that we can all do better and perhaps take our own financial lives to greater heights. If we all started to think a little bit more like this, I can only imagine what differences we could make in our lives and the lives of our families. (Disclaimer: I am NOT part of the top 1% of income earners in the country. I just happen to have been fortunate enough to advise a portion of that population in my career) Continue reading “How the Wealthy Think Differently Than the Rest of Us….”
It is commonly known that money is the leading cause of marital problems. As a financial planner working with couples for over 25 years, I have seen why. Couples often take the wrong approach to love and money, thinking that love and money don’t mix. Continue reading “Money and Marriage: The Missing Manual”
Today’s blog post is the last in a series of posts sharing the results of interviews I’ve conducted with my four children on the topic of money. As you may recall, my oldest, Rachel (14), is a saver, and looks at money as something to be used for necessities. David (12) is my value hunter, and prefers to buy things that have a lasting quality. Ethan (9) is more of a spender, willing to use any money he has to buy things he wants right now. Bringing up the rear is Jacob. Continue reading “Financial Lessons From a Six Year Old”
So far I’ve learned a lot about my two oldest children in the last couple of weeks. I’ve learned that Rachel is a spendthrift and sees money as a means to necessities. David, on the other hand, is a value hunter and wants to know that whatever he spends his money on is going to last. Continue reading “A 9 Year Old’s Perspective on Money”
Last week, I wrote about how we as parents can learn about our own financial behaviors by observing our children. To demonstrate this, I asked my daughter Rachel a series of questions to help me gauge where she is and what she has learned about finances, presumably from her mother and I. Continue reading “A Twelve Year Old’s Perspective on Money”
As the father of four, I’m often asked about how to teach children about money. I’m sure there are a lot of books and blogs about the subject, but for me, I look at children as just people – only smaller and with less life experience. I guess what I’m trying to say is that each child, like each of us, is unique, and therefore the way we teach them about money should be just as unique as they are. Continue reading “What Our Children Can Teach Us About Ourselves”
For some people, the grass is always greener. I recently read an article about a banker living in New York who earns a $350,000 annual salary, which covers private school tuition for his two children, a summer home in Connecticut, and a duplex apartment for his family in a very desirable neighborhood. Yet he still feels it isn’t enough. “I feel stuck,” he lamented. “The New York that I wanted to have is still just beyond my reach.” Continue reading “How Much Money Do You Really Need to Be Happy?”
For those who love mysteries, one of the longest running mysteries I can remember is Stonehenge. I mean, what is the meaning of those stones in that location? Who put them there? Why? How? Well, one part of that mystery has been solved. We now know the origin of the stones. Archaeologists spend years trying to solve mysteries, and now that this one is solved, all it does is raise more questions. At times, I’ve found that is also the case when working with people regarding their financial lives. Here’s the condensed version of the story of someone I’ve known for a few years. Continue reading “Financial Planning and the Stonehedge Mystery”
I recently read an article talking about something we don’t like to talk about. It was written by a hospice nurse and is about the regrets of the dying. It was interesting to me to read what the five most mentioned regrets were from those who realized that their time on this earth was coming to an end. I wasn’t surprised to find that one of the top five was, “I wish I didn’t work so hard.” (In case my boss is reading this…I wish I could find a way to work even harder! Is that sucking up too blatant?) Continue reading “Poorer Can Actually Be Richer – Fulfilling a Lifelong Dream”
Have you ever found yourself at the end of the week with a little extra cash lying around? (I know, it doesn’t happen that often, but when it does, what exactly do you do with it?) For many, they just simply find something to spend it on, and who wouldn’t. I mean after all, you’ve worked hard all week to earn it, so why not enjoy it. Well, I can’t argue with that, but there may be another reason why you’re not sure what to do with it: you lack financial goals. Continue reading “Cash Management: How to Manage the Extra Money in Your Pocket”
