Players and Planners: Which Money Mindset Drives You?

  There are players and there are planners. Players get a rush from the action—making bets, taking chances, expecting the big score. You find them at the track, in the casinos and playing the stock market. They scan the pink sheets like the daily racing forms. They’ve convinced themselves that they are in the 'know'.… Continue reading>

Why Make A Money Plan? You’re Going To Die Anyway

  There are dozens of dopey rationalizations people give for not taking their financial responsibility seriously.  While it’s human to make up all sorts of excuses why we do things or don’t do them, those rationalizations typically come back to bite us where it hurts the most. Here are the top 10 excuses I’ve heard… Continue reading>

When “Touchy-Feely” In Finance Is A Good Thing

Ever hear the words “touchy feely” to describe a financial planner? It tends to tick me off since it often comes attached to an “ick factor” that implies something inappropriate or at least completely uncomfortable. Here’s the thing: many financial planners have erected for themselves a secure platform above the fray, from where they can… Continue reading>

10 Warning Signs Your Investment Advisor Is Leading You Astray

You know the old joke. How can you tell when a politician is lying? Their lips are moving. Of course, this isn't true of every politician—is it? But it should be a warning to exercise a rational level of skepticism when listening to the practiced words of those schooled in convincing others for a living.… Continue reading>

Sleeping And TV—How Retirees Spend Their Time?

A recent study published in The Journal of Financial Planning indicates that life in retirement includes plenty of “inexpensive leisure”. “How Retirees Spend Their Time: Helping Clients Set Realistic Income Goals” looked at the top 20 activities of middle and high-income retirees (age 50+ with at least $60,000 in household income). The research indicates that… Continue reading>

It’s Not About The Goal: How Financial Planning Has It All Wrong

Alice and John said that their goal was to travel in retirement. They laid out detailed trips to exotic locations, opportunities to explore and soak in new cultures and customs. It was clearly very high on their list. After they finished waxing poetic on their various dream destinations, we started to talk about their three… Continue reading>

From 2D to 3D: Adding The Human Dimension to Financial Planning

A typical financial plan is two-dimensional: assets minus debt = net worth. Income less expenses = surplus or deficit. All projected out into the future to discover whether a plan can work (or not). But no matter how complex and conservative the modeling, it’s all guesswork until you factor in the missing link that leads… Continue reading>

Sending Your Kids Off To College (Ready or Not)

Walking through the airport in mid-August, I was surrounded by swarms of families saying their goodbyes as their teenagers embarked for their freshman college experience. Lingering hugs and tears—parents sending kids off to their next chapter, with lots of fears, hopes and unknowns ahead. I could empathize with them (been there, done that.) It's a… Continue reading>

Lessons in “Jetership”

At 40, Derek Jeter will retire after 20 years of professional baseball, taking with him five World Series rings, fourteen All-Star appearances, five Gold Gloves, five Silver Sluggers, two Hank Aaron awards and the Yankees’ all time hit title. All lame Ford commercials aside, Derek, on the field, stands for giving 100% of yourself to… Continue reading>