“The Andy Griffith Show” Meets the Kardashians

July 06, 2012

I just heard that an iconic American TV personality has died.  Andy Griffith was one of the most beloved characters of not just a generation, but of a few generations.  After I heard the news, I started scrolling through the channels and watched a few episodes to remember the good old days in Mayberry.  It took me back to a time that was much simpler, when the rules were clearer and business and personal ethics seemed to be in a better place than they are today. We tend to only see the positive when looking backward.  But, in looking back at the way life was portrayed in Mayberry, I noticed something that seems like an even more far away concept.  Continue reading ““The Andy Griffith Show” Meets the Kardashians”

What I Learned From a Bad Movie!

June 29, 2012

Over the last weekend, I had the pleasure of seeing a new movie.  I really love going to the movies, but I rarely do it.  And when I do, it’s usually a Disney or Pixar movie with my kids.  So, it was a rare treat for me to get to go out with a friend and see a non-animated movie.  Being completely clueless about what movies were in theaters now, I deferred the decision to my friend who chose “Abraham Lincoln: Vampire Hunter” in 3D.  She had read the book and loved it, and she knew that I like historical fiction – books that take historical events and get “creative” with it. Continue reading “What I Learned From a Bad Movie!”

Do You Know What’s Really in Your Water Bottle…or Your Portfolio?

June 22, 2012

My kids absolutely LOVE bottled water.  I remember that when bottled water first came into the public eye, my friends & I laughed and said that if we came up with catchy packaging, a cool name, and maybe even a slogan that sounds like we care about something, we could make millions of dollars selling regular tap water to people who are far too easily separated from their hard earned dollars. Little did we know that we underestimated how much money we could make big time!!!! It’s not MILLIONS, it’s BILLIONS…per month!!! Continue reading “Do You Know What’s Really in Your Water Bottle…or Your Portfolio?”

I Don’t Want My Kids to be Crushed by Student Loans. Do You?

June 08, 2012

I read this article titled “This Bright-Eyed Young Man Was Utterly Demolished by Student Loans” about (can you guess?) a guy who has experienced significant financial, personal and emotional hardship because of the financial responsibility that he took on with significant student loan debt.  I wish this were an isolated incident, but based on some meetings I’ve had with young people recently, I’d be lying if I said this isn’t becoming increasingly more common.  Maybe not to the extreme that Nick is experiencing, but there is a growing number of young people who may not be finished with paying off student loans until they are closer to Social Security than college. Continue reading “I Don’t Want My Kids to be Crushed by Student Loans. Do You?”

A Tale of Two Choices Part 2: Which is Right?

June 01, 2012

Last week I wrote about 2 young men who are living very different lifestyles.  One is frugal now and is saving substantial sums of money and the other is living for the day with the assumption that when he gets married and settles down, there will be plenty of time for saving later.  As I was writing it, I was reminded of the epic tortoise v. hare race.  In the blog post, I raised some questions about the lifestyles and choices that these men are making.  Some of those questions are at the very heart of the field of behavioral finance and some of the questions could lead some of us to “judge” the choices that they are making.  This is where understanding each guy and how they are “hardwired” regarding financial decisions can be helpful.  Continue reading “A Tale of Two Choices Part 2: Which is Right?”

A Tale of Two Choices

May 25, 2012

Over the last few weeks, I have met a couple of young men who are in the early stages of their career.  Both are in their mid-20’s and both make approximately the same amount of money, yet each had very different financial issues to discuss.  The contrast with these two gentlemen is something that I am absolutely going to point out to my kids and hope that they can take a valuable life lesson from it. Continue reading “A Tale of Two Choices”

What’s Scarier Than Monsters??? Numbers…!

May 18, 2012

When I was growing up, I was surrounded by numbers and I actually liked that.  (Yes, I’m admitting that I’m a geek from way back.)  My friends and I could tell you the batting average of almost any member of baseball’s Hall Of Fame and the stats of major NFL players, compute a pitcher’s ERA in our heads or talk about the winning percentage of various great teams throughout history.  Numbers were fun!  Numbers were cool!  (To us, at least…)  Numbers were all that was right with the world back then…Last week, I read an article about the cost of healthcare during retirement and those numbers scared me! Continue reading “What’s Scarier Than Monsters??? Numbers…!”

How to Solve What Seemed Insolvable

May 11, 2012

I recently had a meeting with a woman who is struggling financially and she was looking for a way to make things better for herself and her kids.  She has had a rough last 12 months and is trying to put the pieces back together and find a way to move her life forward.  This time last year, her husband was killed in an auto accident and that has obviously changed the course of her life.  Unfortunately, he was unemployed at the time and his only life insurance was with his prior employer and he did not transfer it to himself when his company closed their doors for business.  So, she is a relatively young widow who received no life insurance benefits and was the sole income earner for several months prior to that.  She has maintained her sense of humor and can smile and say “Worst year ever!” She knows that she will recover and rebuild, and now she’s ready to.   The only thing she didn’t know was where to start.  So, she started with a conversation… Continue reading “How to Solve What Seemed Insolvable”

Progress or Excuses? Pick One

May 04, 2012

A photo is making the rounds on the Internet and I stumbled upon it tonight. It’s a photo of a note that a customer left for his waitress with $.02 taped to the note.  I’ve had conversations with several people today who have formerly worked as wait staff and bartenders about this note.  The note was intended as a lesson in professionalism, perhaps some well-meaning advice.  But was it the right delivery?  Did the waitress understand the lesson?  Was it completely and wholly inappropriate for the customer to do this?  Continue reading “Progress or Excuses? Pick One”

Reflections After Tax Day

April 20, 2012

We just got past April 15th, otherwise known as “Tax Day” to many Americans.  Actually, it was the 17th this year, but who’s going to let a mere 48 hours change our perception of April 15th?  In the days leading up to April 17th , it was impossible for me to go more than a few minutes without being asked a question about taxes, asking someone a question about taxes or seeing a tax piece on the news or online.  I felt like I was seeing tax information even while I was asleep. Continue reading “Reflections After Tax Day”

Which investment firm is the “best?”

March 30, 2012

Who knew that a post-modern world where a big government controls everything and has a televised tournament where children fight till the death would be so popular? The Hunger Games movie opened recently and had the third best debut weekend of all time.  It even beat all of the Twilight series movies as a box office success.  Fortunately, or unfortunately depending upon how I view this, I have read both the Twilight trilogy as well as the Hunger Games trilogy.  Continue reading “Which investment firm is the “best?””

Are Your Brackets AND Your Budget Busted?

March 23, 2012

Last weekend, Lehigh beat Duke in the NCAA basketball tournament.  Norfolk State beat Missouri.  Ohio University (a small school), not Ohio State (the behemoth), beat the University of Michigan.  Several serious underdogs beat overwhelming favorites.  These were all David vs. Goliath games and 3 of the little Davids won.  That made a lot of alumni at those schools very happy.  Is there any downside?  Only if you are one of the tens of millions of people in this country who, for entertainment purposes only, fill out an NCAA Tournament bracket.  These games are what basketball fans, and non-basketball fans, who fill out NCAA brackets (for those who are unfamiliar, your bracket picks winners of each game up through and including the championship game) call “bracket busters.”  For example, if you had Duke vs. Missouri in the championship game, your bracket is essentially finished before the action has started.  I had Missouri as a team in my Final Four, so my bracket is toast.  Oh well, there’s always next year…. Continue reading “Are Your Brackets AND Your Budget Busted?”

What Would Goldilocks Do?

March 16, 2012

Over the last few months, the stock market has reached levels that we have not seen since before the financial crisis/Great Recession.  Companies are reporting good earnings.  Interest rates are low.  Economists say that we are in a recovery.  Yet, so many people I talk to are still very afraid to re-enter the stock market.   I see a lot of 401(k) accounts that are still more conservatively allocated than the employee’s goals and age would indicate they could be.  My question, which I ask either to myself or to no one in particular, is “Why?”  I have my own theories and I talked with a psychologist about what her field might say about this issue. Continue reading “What Would Goldilocks Do?”

Married With Debt? How to Manage Your Money When the Honeymoon is Over

March 09, 2012

We just received the following question on our website:

“I’ve recently gotten married and both of us have entered into this marriage with our own debts. We are having a hard time, even with combined incomes, making ends meet. I would like to learn more about money management and what needs to be done to pay bills and still have enough money left for savings and cash reserves.” Continue reading “Married With Debt? How to Manage Your Money When the Honeymoon is Over”

Are You Trapped By Your Income?

March 02, 2012

I had a conversation with someone who was leaving a very high-paying job in order to do something that paid far less but was far more personally fulfilling. I asked her what her friends and coworkers thought of her decision.  She laughed and said that they all think she’s crazy.  But…they are all incredibly envious too!  Continue reading “Are You Trapped By Your Income?”

There’s More Than One Way to Become a Millionaire

February 24, 2012

I listened to a radio interview recently with a talented and enigmatic artist, David Choe, who has an amazing life story.  It’s filled with a lot of twists and turns, making a fortune gambling in Las Vegas, losing that same fortune in Vegas, some wild and erratic behavior, and most recently becoming a $100-millionaire overnight.   Here’s the cool one-in-a-billion kind of story that makes us all think “wow, that could be me one day.” Continue reading “There’s More Than One Way to Become a Millionaire”