Have you ever experienced playing with the “house’s money” at a casino? You’re on a hot streak and are willing to take on more risk because you view your winnings as not your money, but the house’s money. Psychologically, it doesn’t feel like it’s yours to lose! The “house money effect,” or “mental accounting”… Read more »
IRAs and other retirement accounts have long been thought of as wealth creation vehicles. If you have other sources of income and don’t need to tap retirement assets, the conventional wisdom has been to withdraw only Required Minimum Distributions (RMDs) starting at age 72 to prolong tax deferral. Upon your demise the assets would then… Read more »
Will Rogers used to be fond of advising people to buy land “because they are not making any more of it.” The same can be said for time. Whether we like it or not, our time on Earth is limited – although none of us really believe that we are running out of time –… Read more »
The national debt is now at $27 trillion, or about $190,000 per household. This amounts to nearly 130% of gross domestic product (GDP), the highest level we’ve ever had (debt to GDP reached 112% in World War II, but would soon fall to under 30% in the decades after). Despite this massive amount of… Read more »
Many retirees dream of ditching the family home and relocating to a retirement community or beachfront condo. While the idea may be enticing, it’s important to consider a few points before making this life altering decision. You Can’t Take Your Friends With You Often times we don’t forget that our “home,” is much… Read more »
The attraction of contrarian investing is that by its very nature, it goes against the crowd. It is the opposite of momentum investing, which not surprisingly, is how most people invest. The only thing momentum investors know about most of the companies they wish to own is that their stock’s price has ascended recently, and… Read more »
A financial plan should be about more than accumulating assets. It should also reflect your values. Here are some areas of your plan that you may wish to examine to ensure that they reflect your values. If they need tweaking, there is no time like the present to make needed changes. Helping Causes You… Read more »
While many of us have been Zooming away the days throughout the pandemic, employees and owners alike are attempting to gauge the likelihood of maintaining a work from home (WFH) setting, post pandemic. If you are considering making your home office your permanent work space, there are a few questions you should be asking. … Read more »
Every morning a middle-aged couple walks by my house at precisely 7:15 AM. They don’t miss a day, and they are always on time (you can set your watch to it). Before the pandemic began last March, I had never seen them before. Recently, I’ve begun to wonder: after the pandemic is over, will I… Read more »
