As an advisor, I’m often in the position of helping clients temper their worst impulses. It’s a delicate balance to get investors to pay enough attention to be engaged without micromanaging or being overly obsessed with the bean counting side of things. And because everyone is different, so are the pain points and blind spots. This is where an advisor can deliver the most value - giving truly personalized guidance based on a plan to achieve very specific goals, and helping to manage harmful Read on...
Why You’re Failing Miserably, and How to Stop
For decades I've been entrusted with the confessions of people preoccupied by their inability to feel adept in handling their finances. These individuals come from all walks of life, possess various levels of education, and span a wide range of household income. They are all smart and successful in certain areas of their lives, but when it comes to investing to meet their financial goals, suddenly all competency goes out the window - at least from their perspective. I say it's more of a Read on...
School Administrators and Unions Can Be the Real Heroes
As the adage goes, charity begins at home. And I hope that school district administrators and teacher unions will see this dire situation for what it is: an opportunity to take a stand for their colleagues. For too long, teachers have suffered at the hands of salespeople peddling investments with offensively high fees in their 403(b) plans. What is supposed to be a great benefit and a responsible way to prepare for retirement has turned into a deceptive dance, with teachers blissfully unaware Read on...
Shoot the Inner, Sitting Duck
My last post, "Nailing Financial Predators," may have left some feeling like an easy mark. But what if we could take our six natural human responses to persuasion and make them work in our favor? Well, we can. Here are some ideas on how to proactively take charge and shoot that inner, sitting duck: 1. Authority - If we respond to the perception that someone has expertise or power over us, it's best to make sure that that reverence is actually warranted before heeding their advice. Read on...