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Month: August 2022

Financial Crisis and the Risk of Suicide

“I lost over $450,000, I cannot pay the bank, I’ll become homeless. Suicide is the only way out.” This desperate plea summarizes one of the top posts a few months ago on a Reddit forum for the cryptocurrency Terra Luna. Like other cryptocurrencies, it has recently...

Are Unequal Inheritances Fair?

It’s not very often that I see an estate plan that treats children unequally. When I do, it is usually because a parent is estranged from one child and leaves him or her nothing. In estate planning, “equal” isn’t necessarily the same as “fair.” Recently, a client I’ll...

What Is True About Money

“What is true about money?” A flippant answer to this question might be something like, “That I ought to have more of it.” Going a little deeper, however, we can come up with a list of characteristics, truisms if you will, to describe what money is and is not. Some of...

Learning From Business Failures and Mistakes

How would you feel to learn your financial planner came close to bankruptcy five times in his life? Maybe I should have considered that question before I told the world about my business mistakes in an interview with Morey Stettner that was published July 18, 2022, in...

Vow of Simplicity Not Really So Simple

Last week we explored one type of money belief, an unconscious vow of poverty that can lead to self-sabotage and harmful behaviors around money. But what about those, like members of some religious orders, who consciously make vows of poverty? Does that also lead to...