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Building Wealth

Middle-Class Millionaires Are Far From Billionaires

Suppose you have a net worth of one thousand dollars, while your friend has one million dollars. Would you consider yourselves to be in the same financial category? Almost certainly not. The comparison is absurd. Your friend’s one million is a thousand times...

Workaholism Is About Emotional Pain, Not Money

Are you a workaholic, or are you someone who works hard at what you love to do? Does the distinction really matter? As a recovering workaholic who loves what I do, I have to say that it does. Even though workaholism is generally considered a mark of success and...

Average U.S. Salary and Your Financial Comfort Zone

What would you guess the average American worker makes in a year? This is the question Nina Strohminger, professor of legal studies and business ethics at University of Pennsylvania’s Wharton School of Business, asked her business students recently. Wharton is the...

Investment Advice Is Not Financial Planning

Investment advice is not financial planning. This is an important distinction to understand when you go shopping for financial advice. Do you only need help with investment decisions, or do you need guidance on all aspects of your financial life? Investment advisors...

Cryptocurrency In Your Portfolio, or Not?

Cryptocurrency has been getting a lot of headlines in the financial press the last few years, and I am often asked about investing in it. Many investment advisors expected the glory days of digital currency to be long over by now, yet it continues to get stronger,...

Financial Regulations Protect Consumers–Sometimes

The financial services field is one of the most regulated in the United States. I’m told that our regulations are as complex as those in the medical field. This makes sense; our health and our money are two important pillars of wellbeing. Preventing harm to...