“You’re It.” Financial Caregiving and Money Beliefs

“Mom, I can’t take time off work today to take you to your doctor’s appointment, so I’ve arranged to pay for an Uber driver instead.” The elderly parent’s need for transportation is met. The son or daughter’s obligation and...

When Tax Deductions Cost You Money

How much is a tax deduction worth? Maybe less than your money scripts would have you believe. Here are some common ways that over-emphasizing deductions may reduce your tax bill, but actually cost you more money than you save. 1. Maintaining a Home Mortgage. “I...

Inflated Fears of “Rigged” Markets and Hyperinflation

Our economy is recovering; the stock market is booming. Yet I’m hearing investors express much more fear now than they did last March when the stock market was falling off a cliff. I see a couple of reasons for this. First, market movements are largely emotional...

Financial Therapy a Resource for Family-Owned Businesses

“Mom and pop shop.” This common term for a small family-owned business makes it sound like a cozy little operation where the owners live and work harmoniously together to make their shared dream come true. The reality, for couples who are both personal and...

When Ethical Financial Advice is “Don’t Hire Me”

“If I was your financial adviser, I would tell you that engaging me is not a good deal for you.” I’ve told hundreds of prospects this over my nearly 40-year career as a financial planner. I can make a good argument that almost everyone would benefit from...

Taxes, Emotions, and Your Money Scripts

Someone recently asked if I knew of a CPA that was trained as a financial therapist. I admitted I didn’t. I even chuckled at the peculiar combination—until I realized it’s probably just as peculiar for an investment-loving CFP like me to be trained in financial...