Learning to Let Go of Financial Peer Pressure

Over the years, I’ve noticed that moment when each of my children started caring about what other people think of them. One by one, I’ve watched as the opinions of others become a big deal in their own decision-making.

As smart, mature adults, we have a term for that: peer pressure. You know, that dumb thing we all left behind in high school. Except for one teeny, tiny problem. Graduation didn’t make us immune to peer pressure. What other people think of us continues to affect the decisions we make. One very obvious example is what I call the Minivan Paradox.

Read the rest of the article on The New York Times.