We are continually reminded by conversations we have with others just how vulnerable we all are to the lure of advances in broad stock market indexes.
Apparently, a global pandemic that, temporally speaking, follows on the heels of a Global Financial Crisis, has a tendency to make people think twice about what they want to be when they grow up.
I’ve said it here before, and I’ll keep right on saying it: money is emotional. And that’s not just some touchy-feely, theoretical statement. It’s science.
We’re seeing the question of “What should we do?” pop up in relation to all manner of issues, from the run on toilet paper and hand sanitizer, to business contraction from the shut down on public spaces, and of course, the decline in markets. In this post, we’ll offer some concrete ideas on what we should do, and what we shouldn’t do, considering what’s happening around us.??
We all know there really is no miracle cure – for anything. I do actually believe miracles happen. But not the ones we often hope for regarding illnesses we or our loved ones contract, and even less so for the financial worries we carry around. I’m going to give it to you straight: there is no miracle cure for our financial worries, but there is a very simple solution.
It’s that time of year: the kids are sad, and the moms are glad. Again.
The sweet Vermont summer is over and school’s back in. We find this transition gets a lot of parents thinking about how they’re going to pay for their kid’s college education.
I met with a prospective client recently who had an account full of actively managed mutual funds. When I pointed out what they were paying in fees, some of which were buried in the statements and difficult to spot, I asked what they thought they got for those fees.
I met with a personal trainer this morning who told me I need to work smarter, not harder. I’d been doing hour-long weight lifting and aerobic workouts five days a week, which poses greater injury risk and, potentially, long-term heart damage. He told me I could achieve a higher fitness level, reduce injuries, and just be healthier by working out less, and modifying other detracting behaviors.
When my kids were little we watched a lot of SpongeBob SquarePants—so much so that my now 18-year-old still calls up references to it in everyday conversation. SpongeBob aficionados will get this reference.
Something we tell all prospective clients is we will never ask you to break something so we can fix it because our experience lends to a good understanding of the cause and effect of doing so.