This is a blog in a series I titled “Mental Money Mistakes.” What are mental money mistakes? They’re subtle errors in judgement—basic oversights and miscalculations. As a rule, they tend to be subtle and easy to miss. I’m not talking about big mistakes like taking on a bunch of debt, spending more than you can afford, or being too risky with your investments. No, these are the kinds of mistakes just about anyone can make, even if you’re intelligent and hard-working.
Let’s talk about records. It’s a word with many different meanings. It can be a verb (“Will someone please record this meeting?”), a noun (“Let the record show that I enjoy listening to records”), or even an adjective (“It’s been a record year for the Golden State Warriors basketball team.”) As an investor, it’s a word you should treat with caution.
By now, you’ve probably heard a lot about Brexit. It might seem like a strictly British affair, but it actually has profound economic implications for us here in North America. As your financial advisor, it’s my responsibility to inform you about what some of those implications might be.
Imagine you started a business with several different partners. Over the years, your business had its ups and downs, its fits and starts, its soaring successes and frustrating failures. During that time, you became more and more tied to your business, and your partners became more than just colleagues. They became people you invested in, and who invested in you. Occasionally, they were also people who you argued with and who argued with you. Sometimes, you didn’t know what you’d do without them...
As our nation approaches the 240th anniversary of its independence, I thought it would be good to reflect on the blessings of being an American. It is very easy for us to think about what is wrong with America. Everyday we are bombarded with a constant flow of negative news on television, radio, and in newspapers. There are a great many good things also happening, but all-too-often we don’t find these events being represented in the media.
Every Memorial Day, we as a nation stop to think about the courage and sacrifice shown by the men and women who have served our country. We visit the graves of family members who gave literally all that they had to defend our shores and uphold our freedom. And we remember the words of President Ronald Reagan, who said, “The price for freedom at times has been high, but we have never been unwilling to pay that price.”
It’s May, and that means Mother’s Day! As you know, Mother’s Day is a chance to tell our Moms how much we love and appreciate them. A chance to say “thanks” for keeping us clothed and fed, safe and warm. Yes, mothers sure do a lot, don’t they? But did you know that most mothers play a huge role in our finances, too?
Every four years, Americans take a few minutes out of their day to choose the next President of the United States. Voting is a simple, uncomplicated act—but the months preceding it are anything but. After all, before we vote, we first have to endure the dreaded “campaign season.” From endless televised debates to the plethora of signs on our neighbors’ lawns, “politics” becomes the order of the day.
For most people, it starts when they take out their first loan. Others don’t really think about it until they buy a house. But whoever you are and whatever you do, at some point you’ll have to start paying attention to it. I’m referring, of course, to interest rates. Interest rates are one of the many mile markers that separate adulthood from childhood. (You always know someone’s growing up when they start having to worry about interest rates.) But here’s a three- letter term even some adults...
For some time now, I’ve been blogging on different financial topics. I trust you find most of these topics interesting. However there may be occasions, like today, where the topic might make you blink. Ready?