One of the ways to assess how well an investment serves you, is to look at the fees. Yet many investors have no idea what they are paying. When teachers ask me to assess their current 403(b) plan investments, many are horrified to learn they are paying over 2%. How could they be unaware of the fees, you ask? It’s simple. I’ve come across many an investment statement has a line item that says FEES $0 (or a minimal administrative fee, like $30 for the year). Clearly, there Read on...
Lazy Discipline
Is it possible to achieve more, by working less? It seems too good to be true – like a diet pill that promises you can eat all the cake you want and still lose weight. But the truth is, sometimes we make it hard for ourselves to do the right thing. What if we intentionally set ourselves up for financial success by making it as easy as possible to do so. The finish line is the finish line. You don’t get extra points for running barefoot over broken glass to get there – in fact, you simply need Read on...
Mindful of Your Money
The basic tenets of supply and demand apply to more than just prices, but rather extends to how we value things. When life is good, supply is plentiful, and resources become cheap – we might become wasteful because we have the luxury of knowing there’s more where that came from. Conversely, the same can be true when supplies are scarce. Think back to the beginning of the pandemic, when toilet paper was a coveted item and people paid a premium just to get a few rolls. It’s only natural to Read on...
Stop Apologizing, Start Accepting
Age has taught me that striving for improvement is admirable yet there comes a time when you have to accept your limitations and make them work in your favor, not against you. Money is one of those areas in life that people struggle with, for a whole host of reasons. I know, because I have these conversations with people all the time. It goes like this: “I just don’t understand personal finance. It confuses me. I guess I’m not good at math. Maybe I’m not smart enough. Besides, when I focus Read on...