Accounting for Spending
It’s a common trope among certain types of financial planners: “Save more, spend less… and don’t do anything stupid.” So celebrated is the phrase with some advisers, organizers of a recent conference emblazoned it across baseball caps – attendees proudly
Target Spending, Not Income, In Assessing Your Retirement Needs
“It’s the economy, stupid” is a phrase widely used during Bill Clinton’s 1992 presidential campaign. Generally attributed to Clinton political strategist James Carville, the phrase is often repeated in American political culture, with commentators sometimes using a different word in
Self Employed? Pay Too Much Tax?
Working for yourself has its perks. In theory there’s more autonomy when you’re calling the shots. But that autonomy often comes at a cost. Taxes can be particularly burdensome on the self-employed. And the recent Tax Cut and Jobs Act of
What My Dad’s Death Taught Me About Personal Finance
My father was fifty-one when he died of cancer. And with the exception of a house, a mortgage, and a little life savings – he died penniless. Dad loved to fly. He became a flight instructor to help pay for
When Nothing is Certain, Far More is Possible
Too often I believe, people hesitate to hire a Certified Financial Planner™ professional because they don’t even know what’s possible.
The Problem with Problems
Psychologist Daniel Kahneman is considered by many in my profession be the father of behavioral economics. In 2002 he was awarded the Nobel Prize in Economic Sciences “for having integrated insights from psychological research into economic science, especially concerning human