Life is expensive. There’s no doubt about that—especially for young adults contending with budget busters like housing and tuition. If you have adult children facing these expenses and want to help them financially, you may be wondering how best to approach it. While every family is different, below [...]
Maintaining wealth
Recently, Wall Street Journal personal finance columnist Jason Zweig made this observation: Getting rich isn’t the hard part, he said. “Staying rich is the hard part.” On the surface, staying rich might actually seem like the easy part. After all, you simply need to build a balanced portfolio [...]
One step at a time
A few weeks back, I talked about the good-is-better-than-perfect principle. A close corollary is to approach financial decisions incrementally. What do I mean by that? An example is dollar cost averaging, whereby a sum of money is invested in regular increments rather than all at once. Does [...]
Intersections
Back in the 1950s, economists Franco Modigliani and Merton Miller developed a theory that, even today, is taught in virtually every finance class. To understand this theory, suppose you’re running a company and want to build a new factory. To raise money for this project, you generally have two [...]
Rethinking
Recently I started reading the new book Think Again by Adam Grant. This got me thinking about all the ways that, over the years, conversations with clients have led me to look at things through different lenses. Below are several such topics: There’s one important financial question that stumps [...]
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