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Frugality Syndrome: Making The Shift From Saving To Spending

I have exhibited tendencies toward pyromania most of my life. As a Boy Scout, my favorite activity was starting and stoking a campfire. As an adult, my best birthday gift ever was a flame thrower designed by my son which made quick work of a pile of pinecones and...

How Much is “Rich?” Income Vs. Net Worth

How much money does it take to be wealthy? As I’ve pointed out in previous columns, this is basically an unanswerable question. It depends on too many variables, such as social norms, personal circumstances, accounting methods, lifestyle, and financial...
How financial therapy could benefit your clients—and your practice

How financial therapy could benefit your clients—and your practice

How financial therapy could benefit your clients—and your practice As wealth management becomes increasingly holistic, more advisors are either enlisting the help of a certified financial therapist or enhancing their own communication and empathetic skills—or both....

Why We Don’t Plan For The Inevitable

Why do we put off taking action that is important to our financial health? Last week we explored some of the financial “emergencies” that can be avoided with planning or prevention. It’s easy to understand why planning is so important. It’s less easy...