Category Archives: Financial Planning

Mislead by a Limited Choice Set

A lot of the financial consequences in our lives come from our decisions, but those decisions are dictated by the set of possibilities we think exist. Often, we think we have fewer options than we actually have. Thinking you have … Continue reading

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If They’re Not a CFP® Pro, You Just Don’t Know

This video is brilliant, and it only takes 30 seconds: Cost of good quality professional clothes: $1,200 Cost of personal grooming: $140 Knowing the guy in the suit is actually qualified: Free.

Posted in Financial Planning

If You Die, Do Your Heirs Know Where To Find Your Passwords?

I wrote a little about making sure you put your estate documents where someone could find them in the past.  But what about your digital life?  If you die, do your heirs know where to find your passwords?  There were … Continue reading

Posted in Documents, Estate, Financial Planning | Tagged ,

Why I Don’t “Bank on Yourself,” and You Shouldn’t, Either

First, I don’t think “Bank on Yourself” is a scam, I think it’s a terrible, terrible deal.  Here’s my understanding of how the “Bank on Yourself” concept is supposed to work (abridged version)*: You create a financial plan with an … Continue reading

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Required Reading About Healthcare

As a financial planner, I talk to people about saving up for emergencies, and having adequate insurance coverage.  There are situations where all the prudent planning in the world won’t help you.  We don’t talk about it much, because it’s … Continue reading

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Can We Stop With The “You Need A Million Dollars” Thing?

Something I overhear here and there is that you need a million dollars to retire. Can we stop with that? Estimating the size of the nest egg you need to retire is highly contingent on your risk tolerance, projected returns, … Continue reading

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Credit Card Collection Practices on “The Diane Rehm Show”

There was a great episode from The Diane Rehm Show the other day “New Concerns Over Credit Card Debt Collection” (Tuesday, August 21, 2012 – 10:06 a.m.), in which credit card collection practices are discussed.  According to the episode summary … Continue reading

Posted in Credit, Economy, Financial Planning, Goodies | Tagged , , , ,

Worthwhile Discussions from “The Diane Rehm Show”

I found a couple great recent epidoses from The Diane Rehm Show, and you guys may enjoy them: Jeff Faux: “The Servant Economy” (Tuesday, July 17, 2012 – 11:06 a.m.) –  From the website: “Jeff Faux of the Economic Policy … Continue reading

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Ask An Advisor: Charity Scams

Dear Abigail, I have a dear friend who recently realized he was duped by an organization claiming to benefit disabled veterans and their nonprofit caregiver organizations.  There was a national news story a few weeks ago that revealed the truth … Continue reading

Posted in Ask an Advisor, Current Events, Financial Planning, Spending, Taxes | Tagged , , ,

Ask An Advisor: Retirement Plan Alternatives

Dear Abigail, I am a non-traditional student.  I am not employed full-time, I only work on campus during regular semesters and summer sessions.  I will be attending graduate school next fall, and will be working as a research assistant.  I … Continue reading

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One Way Personal Finance Advice Ends Up Going Bad: Part 1

The free personal finance tips market is glutted.  Not only do you have this fine blog, but there are, literally, thousands upon thousands of articles,  and hundreds of books, radio shows, and TV shows on personal finance.  And, in a … Continue reading

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Collecting as an Investment – Some Thoughts

Lots of us have collections.  Something catches our fancy, and we get the “bug.”  Collecting is a fun and rewarding hobby, but it can get out of hand in a flash.  Here are a few thoughts on managing a collection, … Continue reading

Posted in Financial Planning, Spending | Tagged , , ,

Survey of Consumer Finances: Net Worth

Tell me I’m not the only one around here who’s totally stoked that the Survey of Consumer Finances came out!  You’re not?  I asked you not to tell me that!* The Survey of Consumer Finances is a “triennial interview survey … Continue reading

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So, What’s In Your Mutual Fund?

Did you ever get one of those boxes of chocolates that has a sample of all different kinds of chocolate?  You’ve got your truffle, you got your cherry, you got your coconut, you got your hazelnut… then you take a … Continue reading

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Thinking About Old Age and Money

Have you ever taken the time to think about what it will be like when you’re old?  I’m not talking about the technical advances of social changes, but the physical reality.  One day, we will either all be old or … Continue reading

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