I gave a presentation to a group of sixth graders and asked an innocent question, “Who here earns money?” As I expected there were those who mowed lawns, babysat, shoveled snow, folded laundry, etc. to earn cash. These kids weren’t “working papers” ready, and they took great pride in earning their own money – and not too surprisingly, they seemed to be more discriminating on how they spent it, and had a solid understanding of what was an item or service that they needed versus something they Read on...
Skin in the Game
Today I had the pleasure of meeting with the students at Setauket Elementary School. I am always impressed with how quickly they can grasp the concept of handling money responsibly, if they are shown the way. The trouble is, as parents, we are pulled in many directions (as are our children) and there is always something more fun, exciting or urgent for us to do rather than have a "money lesson." But the lessons are all around us, every single day. If we spend a few minutes to point out some Read on...
A Plan for Easing Your Worries
It's great to be aware of what is going on in the world, but if you find yourself so pre-occupied with the markets that you are wringing your hands and stressed out, it is time to meet with your financial professional, make sure you are on board with the strategy and then stop watching the day-to-day market fluctuations. Not sure what to ask? Here are some points to raise with your financial professional: What is my overall risk relative to the S&P 500? In other words, if the S&P Read on...
Get the Most Mileage Out of Your Tax Refund
The average tax refund for 2016 is estimated to be $2,900. While it might be tempting to use this windfall for something fun, like a vacation to someplace warm and exotic, there are better ways to spend your refund that can help improve your finances for years to come. Yes, you can call me a kill-joy, but delaying gratification can have its rewards in bigger and better ways, like being able to buy your dream home sooner than expected, or being able to take that once in a lifetime vacation that Read on...