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Building Wealth

Keep Your Politics Out of Your Portfolio

Financial Planning magazine posed the following question to 320 financial advisors: ”How will the U.S. election outcome influence retirement planning, and what steps are you currently taking?” The responses revealed that a stunning nine out of 10 advisors anticipated...

The Financial and Emotional Power of Being Wrong

One of financial philosopher Dick Wagner’s Money Truisms was “Everybody’s weird about money.” We humans, with our extreme frugality, excessive spending, unwillingness to talk about our money, late-night anxieties, compulsive money rituals, and...

Winning Financial Strategy Combines Strong Offense and Defense

Thirty years ago, jogging with a friend, I told him about the difficult time I was having financially. Even though my business’s earnings were very good, the profitability wasn’t where it needed to be. After listening to me for several miles, he said something I’ve...

Is Bitcoin An Investment? New EFTs Do Not Make It Less Risky

If you’re looking for a heart-pounding rollercoaster ride into the uncharted territory of financial wild things, forget boring old S&P 500 returns. Look no further than the shiny new Bitcoin ETFs hitting the market. Or not. You may have seen ads for the...

Wealth Equals Wellbeing Only If You Spend It When You Need To

In A Christmas Carol, Charles Dickens vividly brought to life one of fiction’s most famous misers, Ebenezer Scrooge. He was a “tight-fisted hand at the grindstone, a squeezing, wrenching, grasping, scraping, clutching, covetous, old sinner! Hard and sharp as flint,...

The Risk of Anchoring Investment Expectations to a Market High

Imagine that you have placed your retirement funds in a diversified portfolio which includes a portion in the stock market. A year after your initial investment, the news is buzzing with stories about record-breaking market highs. Seeing the value of your portfolio...