Category Archives: New York Times

alignment

Do Your Values Align with Your Money & Time?

I’ve been surprised by a lot of things as a financial adviser. One of the biggest surprises has ended up playing a critical role in my development: the process of self-examination. It has mattered both professionally and personally, and it should to you too. Yet hardly anyone openly talks about…

PrescriptionDiagnosis

Financial Prescriptions: Proceed with Caution

Imagine you’re walking down the street. A woman approaches and hands you a small piece of paper. You glance down and realize it’s a prescription. “Well,” you think to yourself, “she was wearing a white coat, so she’s probably a doctor.” You then walk into a drugstore where other people…

Art16_UnclearGoalsFinancialUncertainty

Add Uncertainty to Your Financial Plans

Human beings don’t like uncertainty, especially when we’re contemplating our financial futures. It’s not enough for us to think that we’ll have enough money to send our kids to college, or to retire. We want to know exactly how much money we’ll need to achieve those goals — and precisely how we’re…

Simple not easy

Simple Financial Solutions Often Beat the Complex Ones

“Can it really be that simple?” Over my career, I’ve heard these words from so many people. Clients, friends and family all just assumed that the process of financial planning needed to be complex. This assumption doesn’t surprise me. The traditional financial industry is built, in large part, on the…

Risk

Risk and the Real Consequence of Failure

We left the trail head at 1 a.m. and headed for the summit of the Grand Teton. I had made this climb several times, but my friend was still new to mountaineering. This trip was his first attempt at the popular peak. Our goal was to reach the top by…

What Diversification Feels Like

Forget Diversification. You Just Need to Pick the Winner.

You made a huge mistake last year with your money. You know this now, right? The only investments in your portfolio that did very well were probably United States stocks. Bonds may have held their own, but everything else was just pitiful. International stocks performed horribly and emerging markets weren’t much better. What were you…

Hedge funds

The Hedge Fund Conundrum

When I look at hedge funds, there are three data points that keep bothering me. They create a pattern that doesn’t make a lot of sense. I hope you can help me understand what I’m missing. 1. Hedge fund performance has been terrible. In 2014, the Barclay Hedge Fund Index returned…

How do judge a financial advisor

What Does Your Financial Advisor Do?

There’s a fight brewing in Washington. While fighting in Washington isn’t new, the cause of this particular fight might shock you. People are arguing about financial advice. Last week, the debate gained national attention as President Obama waded into the discussion. At the center of this argument is a surprising…

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Weighing the Value of Money & Time

One summer, a friend of mine planned a river trip. The closest public airport was a day and a half’s drive from the river. So my friend decided to hire a private plane to get his group to the destination in a few hours. I know this choice sounds extravagant,…

Savings & Using_1

Treating Money Like a Tool: Don’t Spend It, Use It

Almost everything we’re taught about money is focused on spending it and saving it. Parents, teachers and even personal finance books discuss saving money as keeping it, increasing it and controlling it. Saving money involves figuring out ways to get more of it, to build a bigger cushion. We’re taught…

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