How Early Is Too Early to Think About Long-Term Care?

In the discussion of the single most important financial asset — investments, pension, real estate, cash, etc. — I nominate the body. Your body is how you make a living. And in a flash or rising crest, your body can come to dictate your entire financial life. This is evidenced by the more than 80%Continue reading “How Early Is Too Early to Think About Long-Term Care?”

The Best Finance Books Might Be Fiction

To make better choices and build wealth, have you tried investing time with the works of Shakespeare? Our relationship with money is forged by experience. Why wouldn’t we then want the broadest experience possible to help us make important financial decisions? Experience by proxy is one of the values literary fiction offers. Reading can beContinue reading “The Best Finance Books Might Be Fiction”

Sell Your Hot Dogs at a Loss

How we spend money is as important as how we save it. Because we don’t express our truest selves with a 401(k) statement the way we can with a debit card. What is the meaning of money if you never happily spend it? In Kitchen Confidential, Anthony Bourdain famously wrote, “Your body is not aContinue reading “Sell Your Hot Dogs at a Loss”

How to Stop Carrying Too Much Financial Anxiety

Your heart starts racing when a credit card rep calls about a payment you accidently missed, and then you turn on the news to see the stock market plummeting 10%, so you log into your 401(k) account in a panic as you berate yourself for not saving more and then wonder whether to sell yourContinue reading “How to Stop Carrying Too Much Financial Anxiety”

Minding Your Blind Spots

Your greatest financial ally could be the person you share your bed with. One reason people make costly mistakes is blindness. I am blind; you are, too. We’re all blind, in some way. And we don’t know it. Except for the self-aware, humble ones. Horror legend Stephen King has written around 50-60 bestselling novels andContinue reading “Minding Your Blind Spots”

The Relationship Between Money and Happiness

My happy place costs around $20, excluding tax. A few cold beers on a beach with family or friends is enough to make me feel satisfied in life. I suppose there are finer beaches than along the Detroit river, which is closest to me. But I’ve drank beers on beaches in other states and otherContinue reading “The Relationship Between Money and Happiness”

Are You Financially Resilient?

A young woman in the Land of Oz asks her way to Kansas. “If I were you,” she is unhelpfully told, “I wouldn’t start from Oz.” But if Oz is where you are, you have no choice; from there is where you start. That is how it is with many financial hardships. We must startContinue reading “Are You Financially Resilient?”

Stories That Make You Rich or Go Broke

Why do you make certain decisions? How can you make better ones? Perhaps, you need a better story. I think finance is synonymous with storytelling. Wall Street publishes more stories than the publishing industry. Exhibit A is the GameStop saga, where a group of day traders bid up the beleaguered video game retailer’s stock priceContinue reading “Stories That Make You Rich or Go Broke”

3 Retirement Myths of the Social Media Era

Social media has altered our perceptions of success, relationships, politics, culture and even retirement. But know this: no matter what type of designer retirement you think you have put together for yourself, bereavement, illness, ennui and financial challenges happen to everyone. No amount of wealth, success, power or planning can make you impervious to them.Continue reading “3 Retirement Myths of the Social Media Era”

One Question to Improve Your Money Habits

Goodbye, dear reader. Scientists have announced a previously undetected asteroid is on a collision course with Earth. It will strike within minutes and wipe out all life on the planet. Take the short time you have left to first hug your loved ones. Then, since you’re a person who understands the importance of good moneyContinue reading “One Question to Improve Your Money Habits”