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The Power of Getting Started

I had a plan. It was a perfect plan to power through a bunch of stuff I needed to get done. Too bad the plan started to unravel before I even left the house. By the end of the day, my plan had ceased to exist. I still managed to…

Saving More

Ideas for People Who Use Money: Save More & You’ll Impress People

The Second Job You Don’t Know You Have POLITICO Raise your virtual hand if you’ve used a self-checkout at the grocery store, withdrawn money from an ATM or checked in online for a flight. If so, you’re a member of the “shadow workforce.” This concept fascinates me. With little fanfare,…

Life Boat Drill

Do the Drill: A Lifeboat for Investors

Calm water makes a lifeboat drill much easier. We aren’t fighting the waves or the fear we feel during an emergency. Still, if the worst happens, and the drill becomes reality, at least we’ve rehearsed. We’ll know exactly what we are supposed do. With the markets relatively calm, now is…

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Understand the Emotion in Your Financial Decisions

In a perfect investing world, we’d all respond like robots. The markets go up, we’d know it’s time to sell. The markets go down, we wouldn’t have any problem buying. But because we aren’t walking, talking algorithms, we’ll almost always need to take emotion into account. We’ll almost always need…

PST_HappinessJones

Ideas for People Who Use Money: Buying for Status or Need?

Each week, I’ll share interesting resources I’ve found related to money, behavior, emotion, and anything else that catches my eye. My goal is to highlight the valuable work other people are doing to help you make better, more thoughtful decisions. “Vanity capital” is the new metric for narcissism, and analysts…

Risk_Uncertainty

I Say Risk, You Hear Uncertainty

When I say “risk” and you say “risk,” chances are high we don’t mean the same thing. The finance industry defines risk as something measurable. It is variability within a set of known limits. You may have heard it referred to as standard deviation or even volatility. Ultimately, it represents…

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Just This Once

Things happen. The car breaks down. The roof springs a leak. We can’t predict these one-time events. But we can predict that something will happen — eventually. Our job is to plan for when eventually happens, and we can do so by setting aside a little money each month to…

PST_YourFutureRetirements

Ideas for People Who Use Money: Thinking About Retirement

Each week, I’ll share interesting resources I’ve found related to money, behavior, emotion, and anything else that catches my eye. My goal is to highlight the valuable work other people are doing to help you make better, more thoughtful decisions. Time to Quit MEDIUM James Altucher is one of the…

The Third Way

Not My Way, Not Your Way. Pick a Third Way

“I can’t believe you see it that way!” Just last week, I said this to my wife in the middle of a discussion (O.K., a fight) about money. We were experiencing something many of you have probably also faced. We needed to make a very important financial decision about how…

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Worry Isn’t Something We Value

I worry about money. I bet you worry about money, too. But here’s the interesting thing: I’ve never worked with anyone who identified “worry” as something they valued. So why do we let worry about money drive so much of our thinking and decision making? My experience suggests our worry…

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