Remote controls to control?

What’s Your Role In Your Financial Outcomes?

If you are a consumer of personal finance content like I am, you have by now undoubtedly heard one commentator or another derisively dismiss the idea of even mentioning the long-term cost of a daily Starbucks trip. They don’t want to hear about it—it’s a trope to be ignored. And this derision is coming from[…]

Always Yes? Always No?

Say “Yes” to Everything or Say “No” to Everything? Which Is It?

Always Say No? Always Say Yes? Which Is It? Warren Buffet is cited for the wisdom that “the difference between successful people and really successful people is that really successful people say no to almost everything.”  Over the years I’ve heard any number of snippets of advice from Mr. Buffet and I have to concede[…]

Wealth Versus Income: The Psychological and Behavioral Differences

I recently had a conversation with my teenage daughter where we had reason to consider the financial situation of an elderly couple that are family friends. My daughter became aware that this family had an (undisclosed) amount of money to live on for the rest of their lives, and that was it. She made an[…]

Gambling With the Assessment of Risk Tolerance

In his “Intelligent Investor” column in the September 7, 2019 print edition of the Wall Street Journal, Jason Zweig wrote about an idea that we’ve thought about a good deal in the recent past: the fact that not all risk tolerance assessments are created equal. In the piece, Mr. Zweig—himself an accomplished and noted author[…]

Savings over time makes a difference.

What’s the Difference Between a 17% and 7% Savings Rate?

Our data consistently tells us that in the arena of personal-finance outcomes, behaviors matter. They matter a lot. So we thought it was time to try and quantify—from a dollars and net-worth perspective—exactly how much is “a lot.” We’ll consider savings rate as a critical behavior. We have talked here before about the difference in savings[…]