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”

The Power of Framing in Money, Life

In a consumerist culture, happiness is closely associated with wealth. The more you earn, the more you can buy, the happier you will feel. Yet, there is a reason why studies show older adults are happier, and it’s not from accumulating massive levels of wealth. The secret is found in a quote attributed to RomanContinue reading “The Power of Framing in Money, Life”

Managing Your Personality in Your Portfolio

Whether we can admit it or not, the way we invest is heavily influenced by our personalities. As I struggle with the hardest Dry January in history, I’ve thought a lot about people I’ve known who could freely indulge in alcohol or drugs yet still meet all life’s obligations. They always made it to theContinue reading “Managing Your Personality in Your Portfolio”