Imagine a person who always, in every circumstance, makes rational decisions with his money. He saves when he ought to and spends exactly as he should spend, in order to maximize the “utility” of whatever wealth he happens to possess. He defers gratification with ease. When he invests, he has instant and total access to all possible information related to every item in his, including the details of every company’s financials and any impactful world events, even if they haven’t reached the news media yet.
Have you ever noticed that some people seem to be consistently successful at complex and creative tasks, while others see only fitful success and repeated failure? The difference might not lie in talent or motivation, but simply in mindset—in the way these tasks are approached by people who take a professional mindset vs. the great majority of people who function as amateurs.
It’s tax time again, and as you look over your tax payments for calendar 2016, you’re undoubtedly wondering where those dollars are being spent.
The Wall Street Journal recently published a chart which breaks down spending for every $100 of tax receipts—and concludes that the U.S. government is actually a very large insurance company that also happens to have an army.
After the recent downturn in the U.S. and global stock markets, you can be pardoned if you wished that the markets were a bit tamer. Wouldn't it be nice to get, say, a steady 4% return every year rather than all these ups and downs?
Be careful what you wish for. There are at least three reasons why you should hope the markets continue scaring investors half out of their wits.
June 6, 2015
The Fiscal Times – article by Kathryn Tuggle
If you’re going through a divorce, your future financial well-being may be the last thing on your mind. Unfortunately, when emotions get in the way, it’s easier to make mistakes that may cost you for years to come. Here’s a look at three of the worst financial mistakes you can make during a divorce.
1. You don’t know where the assets are or you lack an understanding of the household finances.
September 21, 2013
By Beth Jones, RLP®, AIF®, CFT™
Many people fail to have proper and updated estate planning documents, so a serious illness or death of a family member can create major ramifications at a difficult time. Some think that only wealthy people need estate planning documents not true. Below is a summary of the documents that can help to ensure that your desires are clear and legal, hence minimizing conflicts and confusion.