Accepting the Uncertainty of Our Financial Life
I have a friend who is an emergency room physician in Salt Lake City. The other day, he described to me an interaction he had with a distressed, uncomfortable patient. After doing all the tests he could and finding nothing...
During Market Turmoil, Just Listen to Your Financial Plan
Every year, right around this time, all the big brokerage firms, economists and banks come out with projections of what’s supposed to happen next in the financial world. This year is no exception. Especially prominent in the news has been...
Saying No, So You Can Say Yes When It Matters
I have a problem: It’s really hard for me to say no to new, exciting projects. If you’re doing creative work at all (and I’m using this term very broadly, so that should mean just about everybody), then you’ve probably...
When Financial Talk Turns Personal
Recently, my family needed a new vehicle. I’ve always wanted a truck, and I knew we would get tons of use out of it. Could I have found a cheaper vehicle? Sure. But I knew we could afford the truck,...
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...
Putting a Price on Fun
A few years ago, my wife and I considered buying a boat. We both grew up water-skiing on the lakes here in Utah, and some of my best memories involve being on the water. I was talking about this with...
The Financial Benefits of Buying What You Love
Eleven years ago, I needed a new bike. At the time, I rode a lot. I was in a big group of relatively competitive riders, and we’d often put hundreds of miles on our bikes each week. I agonized over...
When an Expense Becomes a Wise Investment Choice
Ask someone how they invest, and you’ll probably get a pretty standard answer involving stocks, bonds and maybe some real estate or cash. But rarely will people mention something that is even more important: their investments in human capital. They...
Getting Comfortable With Change
Some of us really like the status quo. Even when we have a better alternative, many of us are content to keep on doing what we’re doing. I think about this every time my wife and I swap cars. Depending...
Measuring How Financial Advisers Handle Uncertainty
Remember how you felt during the financial crisis in 2008? People were scared. Even the professionals were uncertain about what might happen. I know, because I was scared, too. But I couldn’t show it. Whatever was going on, my clients...
