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Money Psychology

Yes, It’s Okay To Take the Senior Discount

In my forties I delighted in buying AARP memberships as 50th birthday gifts for my friends to remind them they were now officially “over the hill.” You can imagine their delight in doing the same for me when I turned 50. I remember the disbelief in realizing that I...

Why Prenuptial Agreements Can Be Valuable for Many Couples

Last week’s column discussed the importance for engaged couples of having open conversations about money before the wedding. This week we’ll look at some reasons a couple might want to consider signing a formal prenuptial agreement. Prenups, which establish how...

Build Emotional and Financial Intimacy With Prenup Money Conversations

Imagine for a moment that you and the love of your life are young, starry-eyed, and newly engaged. Someone asks, “Do you plan to get a prenup?” You would likely stare at them in stunned disbelief and say something like, “Are you kidding? Of course not! We don’t have...

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...

The Inflation Paradox: When Perception Clashes with Reality

Back in June 2022, news headlines and social media were screaming about the 9.1% inflation rate. Eighteen months later, in December 2023, inflation was 3.4%—one of the biggest drops in modern history. Yet instead of celebrating, consumers remain anxious, with...