Choose Experiences Over Stuff, and Maybe Over Security Too
You’ve heard of the American dream, right? The American dream was this machine we built to get rid of uncertainty and create security. It’s the white picket fence, the job and the minivan. You watch Dan Rather and a sitcom....
Honesty Tops Any Checklist When Looking for an Adviser
Now that more financial professionals are going to have to act in their customer’s best interest, where can you actually find someone who will really, truly, for sure do that? It seems like a simple question, but it’s not. I’ve...
The Solution to Maintaining a Budget Is Awareness
I talk to many people who have problems with spending. Sometimes it’s friends. Sometimes it’s co-workers. Sometimes it’s neighbors. And yes, sometimes I talk to myself about my own struggles. What I’ve discovered over the years is that most of...
When Feelings of Comfort Trump Spreadsheet Math
“Carl,” my friend told me, in a heated moment of financial debate, “You need a new truck like you need a bullet in the head.” I fired something back about how off base she was, how it would be a...
The Paradox of Finding Motivation Through Fear
I was driving with a friend recently and telling him about some projects that really excited me. I mentioned a new book I’m working on, an article I’m writing and this new hobby of adventure motorcycling in the desert. He...
Learning How to Deal With the Haters
We all like to act as if we’re immune to the vitriol of haters. It’s almost cool to pretend that it doesn’t affect us, like we’re all bulletproof and have some kind of armor against it. And while that might...
Learning to Take Responsibility When Things Go Wrong
It’s that time again, everybody. The one we’ve all been waiting for. No, I’m not talking about spring, March Madness or the start of Major League Baseball. It’s election season. Aren’t you excited? Every four years (or more often, for...
The Benefits of Getting an Icy Start to the Day
It’s 6 a.m. in Park City, Utah. I’m in the shower. I go through all the typical shower rituals — I wash behind my ears, shave, and more — until I’m ready to get out. I grab the handle for...
No Shortcuts in Evaluating Your Investment Risk
Early in my career, I worked for a big brokerage firm. Back then, I made a habit of seeking out the veteran stockbrokers and quizzing them about their careers. One day, I had a pretty extensive conversation about risk with...
Spend the Money for the Good Boots, and Wear Them Forever
I like buying high-quality things. And for the longest time, I’ve had this sneaking suspicion that buying high-quality stuff, which perhaps initially was more expensive, actually saved me money in the long run. It wasn’t until very recently, though, that...
