You’ve heard of the American dream, right? The American dream was this machine we built to get rid of uncertainty and create security. It’s the white picket fence, the job and the minivan. You watch Dan Rather and a sitcom. You go to bed, go to sleep and repeat. It may not be that exciting, …Read More.
Now that more financial professionals are going to have to act in their customer’s best interest, where can you actually find someone who will really, truly, for sure do that? It seems like a simple question, but it’s not. I’ve been around the financial planning industry for 20 years, and one of the hardest (and …Read More.
I talk to many people who have problems with spending. Sometimes it’s friends. Sometimes it’s co-workers. Sometimes it’s neighbors. And yes, sometimes I talk to myself about my own struggles. What I’ve discovered over the years is that most of our problems do not come down to income. Instead, we don’t notice enough. Spending mindlessly, …Read More.
“Carl,” my friend told me, in a heated moment of financial debate, “You need a new truck like you need a bullet in the head.” I fired something back about how off base she was, how it would be a sound purchase, and who was she to say anyway? We went back and forth. It …Read More.
I was driving with a friend recently and telling him about some projects that really excited me. I mentioned a new book I’m working on, an article I’m writing and this new hobby of adventure motorcycling in the desert. He interrupted me and said, “How do you stay so motivated and so excited about things?” …Read More.
We all like to act as if we’re immune to the vitriol of haters. It’s almost cool to pretend that it doesn’t affect us, like we’re all bulletproof and have some kind of armor against it. And while that might be a helpful coping mechanism, it’s not really true for most of us. The truth …Read More.
It’s that time again, everybody. The one we’ve all been waiting for. No, I’m not talking about spring, March Madness or the start of Major League Baseball. It’s election season. Aren’t you excited? Every four years (or more often, for citizens who never miss a chance to cast a ballot), we partake in what seems …Read More.
It’s 6 a.m. in Park City, Utah. I’m in the shower. I go through all the typical shower rituals — I wash behind my ears, shave, and more — until I’m ready to get out. I grab the handle for the water, pause, take a deep breath and then turn it. I don’t turn it …Read More.
Early in my career, I worked for a big brokerage firm. Back then, I made a habit of seeking out the veteran stockbrokers and quizzing them about their careers. One day, I had a pretty extensive conversation about risk with one of those grizzled Wall Street guys. I’ll never forget it. “Let’s assume you’re moving …Read More.
I like buying high-quality things. And for the longest time, I’ve had this sneaking suspicion that buying high-quality stuff, which perhaps initially was more expensive, actually saved me money in the long run. It wasn’t until very recently, though, that I noticed a strong argument in support of my hunch. The other day, I was …Read More.