I had such a positive reaction to last week’s blog that I decided to continue the conversation about what it takes to accumulate and use wealth wisely.
In the American culture, we have been programmed and doomed in a way to desire and have the stuff wealth can buy. With that cultural habit comes the task and obligation of trying to figure out what to do with it once we have it. Read the rest of this entry »
Can money really be the end- all and be-all of a life of grace and well-being? Can it really solve all of our issues, problems unfulfilled dreams? Whether we define ourselves as wealthy or on the quest to be wealthy, we all have our own personal money mythology. Read the rest of this entry »
Panic and our inability to manage it can be a costly consequence of our inability to manage our financial behavior. Too often we want to rid ourselves of an uncomfortable feeling and make an impulsive action that we haven’t thought through. No one likes to lose money especially if they initiated the action that triggered the loss. Read the rest of this entry »
We all know that habits are hard to break—before we know it, we are doing the same thing that we’ve been trying to change. It might be spending less when we go food shopping, keeping up with our investments, and so many other scenarios that are true for most of us. In all of my years working with clients in helping them to alter these habits which may get them into trouble over time, it’s not focusing on the habit that helps them make positive changes. It’s actually just the opposite: figure out the more productive and satisfying habit that you want to enforce. So, instead of going shopping without a plan or list, make sure you have something concrete to follow or instead of free-floating throughout the year unaware of how your investments are performing, make a plan to get 6-month updates that you actually review. Read the rest of this entry »
CNBC Squawk on The Street reported the latest findings from the Ipsos Affluent Survey today—apparently the affluent are not happy with the economy. Their greatest concerns are the number of unemployed dragging on the economy and the debt in the US with little faith in the government to make any positive improvements. They are looking for efficiency rather than higher taxes as the answer to the dilemma. As a result of their pessimistic outlook, they have tightened their spending compared to previous years. That said, those earning over $250,000 are still planning to take a vacation out of the country (54%), buy or lease a car (32%) and perhaps take a cruise (20%). Read the rest of this entry »
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