I have a friend who is an emergency room physician in Salt Lake City. The other day, he described to me an interaction he had with a distressed, uncomfortable patient. After doing all the tests he could and finding nothing wrong, all he could do was give the patient that age-old, wonderful doctor advice: “Go …Read More.
Every year, right around this time, all the big brokerage firms, economists and banks come out with projections of what’s supposed to happen next in the financial world. This year is no exception. Especially prominent in the news has been the Royal Bank of Scotland warning, in no uncertain terms, that people should “sell everything” …Read More.
I have a problem: It’s really hard for me to say no to new, exciting projects. If you’re doing creative work at all (and I’m using this term very broadly, so that should mean just about everybody), then you’ve probably run into this problem yourself. There are endless options for how you could spend your …Read More.
Recently, my family needed a new vehicle. I’ve always wanted a truck, and I knew we would get tons of use out of it. Could I have found a cheaper vehicle? Sure. But I knew we could afford the truck, so after lots of careful thought, we decided to buy it. Anytime I make a …Read More.
Over the years, I’ve noticed that moment when each of my children started caring about what other people think of them. One by one, I’ve watched as the opinions of others become a big deal in their own decision-making. As smart, mature adults, we have a term for that: peer pressure. You know, that dumb …Read More.
A few years ago, my wife and I considered buying a boat. We both grew up water-skiing on the lakes here in Utah, and some of my best memories involve being on the water. I was talking about this with my friend Eric, because he has a boat, and he introduced me to his “cost …Read More.
Eleven years ago, I needed a new bike. At the time, I rode a lot. I was in a big group of relatively competitive riders, and we’d often put hundreds of miles on our bikes each week. I agonized over what bike to buy, but I kept coming back to one made by a company …Read More.
Ask someone how they invest, and you’ll probably get a pretty standard answer involving stocks, bonds and maybe some real estate or cash. But rarely will people mention something that is even more important: their investments in human capital. They don’t talk about it because human capital investments can look a lot like any other …Read More.
Some of us really like the status quo. Even when we have a better alternative, many of us are content to keep on doing what we’re doing. I think about this every time my wife and I swap cars. Depending on who is running what errands that day, we’ll switch between our big car and …Read More.
Remember how you felt during the financial crisis in 2008? People were scared. Even the professionals were uncertain about what might happen. I know, because I was scared, too. But I couldn’t show it. Whatever was going on, my clients still needed me to provide thoughtful advice and to help stop them from doing something …Read More.