I’m currently reading a book, Ego Is The Enemy, which made writing today’s post more difficult than I expected. It made me question the purpose of this post: was it for myself–to feed my ego, or was it provide value to my readers? Ultimately, I decided that writing this post was not to serve my ego, but to mark a milestone,…
I had a little help with this edition of the Whiteboard Series; Leo and I discuss the components of a financial plan. If your financial plan does not address these different aspects of your finances, you don’t have a financial plan–you have sales material. Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining your individual…
The majority of my social media, this blog included, tends to be targeted to Millennials, although the subject matter is applicable to everyone. Today, I’m flipping the script; I’m writing for the Baby Boomers, but I still want my Millennial readers to take note. I’m sharing this video in hopes of inspiring one person, just one person, nearing retirement to…
“We are entering an era in which we’re going to have to create a society of life long learners” -Ben Sasse Ben Sasse’s commentary in the Wall Street Journal addresses a very important topic, one I’m not sure the majority of the public is thinking about. We are experiencing a fundamental change in our economy, and this type of transition…
With the exception of not having a will, inadequate life insurance is one of the most common “mistakes” I see when meeting with young families. Understandably, no one wants to have the conversation surrounding life insurance, and too often there is a false sense of security because of the life insurance coverage provided by employers. For my first video blog, aka…
My biggest beef with my industry is the underlying theme that only families with wealth need financial advisors; I’m talking real financial advisors–fiduciaries, not salespeople disguised as financial advisors. No financial advisor will admit to this, and they don’t have to, just look at the way the majority of financial advisory firms are structured–an annual management fee based on the…
“With my mind on my money, and my money on my mind” -Snoop Doggy Dogg Snoop Dogg may have been laid back when he was thinking about his money, but for most Americans that’s not the case…
Earlier this week, an old Wall Street Journal article made its way across my Twitter feed; the title immediately caught my eye: Most Millennials Don’t See Becoming Millionaires, Study Finds. I’ve shared the article below, but if you don’t have a subscription to the Wall Street Journal, you won’t be able to read it because it’s hidden behind a paywall. Side…
Millennials starting on their financial planning have some tough decisions to make. Do they start saving for retirement, or pay down student loan debt? Do they save $1,000 for an initial emergency fund, or get aggressive and shoot for 3-6 months of expenses? Do they contribute enough for the employer 401k match, or go above and beyond? What about a…
Academic research suggests the foundation for a long term investment strategy is a globally diversified portfolio; statistics show the average investor is holding a domestically diversified portfolio. If the evidence from academic research is so strong, what is the disconnect between the evidence and investor behavior? Most investors suffer from a bias towards investing domestically; in the industry, we call this…