The Occupy Wall Street people have done us all a great service by forcing us to re-examine our relationship with money and ask the question, “Is greed good?” They are sure that the greedy pursuit of wealth is the root of all evil. While in reality, just the opposite is true, we can only understand [...]
If you have serious marital problems, you have to understand – before you call your divorce lawyer – what divorce will do to your 401k. The reality is there are some issues over which you have no control. But there are things you can do that will have a significant impact on yourself and your [...]
Have you ever stopped to ask yourself what you really know about the poor people in America? I know I never have. Are most poor people homeless? Are most poor people hungry? I’m not proud of saying this, but I never stopped to consider it. A few months ago I read an editorial in Investor’s [...]
If you were playing a word association game, it wouldn’t take long for somebody to put the words “children” and “expensive” together. According to Time Magazine, the average cost of raising a child born in 2007 to age 18 is $204,000. And that doesn’t even consider the fact that few parents cut the financial strings [...]
Do you ever wonder how much you owe your kids? While the answer always boils down to personal values, I think the question is worthwhile to bring up. I know I could use your input because I always learn so much from your comments. I live in a pretty affluent area. When kids get into [...]
Family financial planning is a topic that is very sensitive with me. Growing up, my parents didn’t do the kind of financial fire drills they should have. As a result, when calamity struck, we weren’t prepared. And as a result of that, our family was destroyed. If people rely on you, I believe there is [...]
Before you get married, talk about money. Forget the flowers and think finances. According to Jeffrey Dew, assistant professor at Utah State University, you are 30% more likely to end up with a divorce if you and your spouse argue about money once a week or more. The question is, how do you start “the [...]
What is financial faith? Does faith take the place of creating a financial plan? This question is not a rhetorical one. It’s one my wife and I have asked each other for years. Because of my experience as a kid, I never wanted to leave financial security to chance. I planned and projected. Saved and [...]
At sundown tonight Yom Kippur will begin. It’s a Jewish Holiday that I personally get a lot of inspiration and motivation from. It’s really a great gift, and it is my secret way to get clarity on my own definition of success. In case you aren’t familiar, Yom Kippur is structured to encourage Jews to [...]
If you are considering becoming a stay-at-home mom or dad, one big issue you have to deal with is a loss of income. Here’s a question I received the other day from Mark: I’m a 25 year old young professional, who is currently renting. If I had to guess, I will probably rent until I [...]
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