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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...

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...

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...

Market Crashes To Be Expected, Not Feared

A lot of stock market experts are concerned that the market is overheated and ripe for a new bear market. One of those expecting a bear market is Shawn Williams of Motley Fool, in a May 8, 2021, post, “A case is mounting for a big drop in the stock...