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Trying to Avoid Pain With Financial Denial

“Just think positive, and everything will turn out fine.” “Preparing for the worst just opens the door for bad things to happen.” “Oh, I’m sure it’s not that bad.” Statements like these are examples of financial denial. Denial—ignoring the reality of a situation in...

Is There a Dark Side to Cryptocurrency?

I’ve been warning against speculating in crypto currencies since 2017. Any currency typically has no place in any conservative investment portfolio. That is doubly true for digital currencies. They need to be approached in the same manner as any risky speculation....

My State Flunked Financial Literacy. How About Yours?

My CFP peers across the nation are probably tired of hearing me sing the praises of living in South Dakota. One of them recently emailed some disturbing news that put some sour notes in my “South Dakota is God’s Country” song. A recent national survey that ranked the...

Single Parents Deserve a Hall of Fame

There are Halls of Fame for musicians, athletes, volunteers, and high achievers in many other fields. My quick check on Wikipedia found over 250 of them. Yet nowhere did I find recognition for one group who richly deserves it. There is no Hall of Fame for single...

Why Your Financial Planner Needs a Financial Planner

If you learned that your financial planner had their own financial planner, would you be concerned? Would you see it as a confession of incompetence or a sign of confidence and wisdom? Years ago, when I told my clients that I had a financial planner, their reactions...

The Financial Impact of Grief and Loss

One of the emotions—or more accurately, the constellation of many emotions—that financial planners often must help clients deal with is grief. It’s common for people to engage a planner during times of transition and loss such as the death of a parent or spouse....