To be truthful, I was on vacation when the debt ceiling debacle was being decided and when the stock market decided to take a tumble. Despite being subjected to Fox News and CNBC at least twice a day by family members who watch that stuff, my stress level was pretty low. Why? My clients are [...]
As Kids Get Older, Teach Them More Money Skills
My kids are pretty young, but as I talk to more parents and read more about money management and children, I’ve learned the following items for older kids. Remember, give them lots of opportunities to screw up when the stakes are low. That way, when the stakes are higher, they are way less likely to [...]
Kids Who Have Money Learn To Spend Well
In the last two entries, I’ve explained how important it is to teach children early about money so that they have the skills and the values you want them to have to build their own wealth. I’ve also outlined what I do at home to help teach these skills. While I knew that this would [...]
Let Kids Learn About Money Early and Often
Just as a general parenting philosophy, I believe it’s important to let kids have age-appropriate opportunities to screw up when the stakes are low. I’d rather a kid learn that it’s not such a great idea to put the heaviest block on the top of the tower when she’s three years old than to have [...]
Teaching Kids About Money
One of my favorite financial planner stories goes like this: This financial planner was sitting on a plane and the guy next to him strikes up a conversation and asks the planner what he does for a living. Upon learning that he does financial planning, the fellow passenger then said, “I just did all my [...]
To Buy Or Not To Buy in San Francisco
I’m frequently asked whether it’s worth it to buy a house in San Francisco. Is this a smart financial planning decision? This decision is largely personal, but here is my $.02. Buy house as a home, buy investment property elsewhere Remember, this is a blog, so I get to oversimplify. This is my general rule, [...]
The Bright Spots Exist in the Mortgage Market
I remember this song taught to me as a kid that goes, “Stay on the sunny side, always on the sunny side, stay on the sunny side of life. You’ll feel no pain as we drive you insane, so stay on the happy side of life.” I love how whimsical the song is and how [...]
How To Make the Most of Your 401(k)
401(k) plans are getting a lot attention in the press lately, largely due to new rules coming out that require plans to disclose fees and pro rate them among plan participants. This is a move by the government to bring more transparency to the 401(k) process, and in particular to the fees being charged by [...]
Budgeting Does Work (If You Make It Easy and Fun)—Part 2
Now that you have a sense of what you’re spending as a result of prior decisions, what you’re spending each week, and what you want to be spending money on, you’re ready to get control of all three. And have fun doing it. Put your attention on your weekly money What you want to do [...]
Budgeting Does Work (If You Make It Easy and Fun)—Part 1
If you didn’t skip this blog post, you’re probably hung up somewhere in your life on cash-flow or budgeting. Most of my clients are in the enviable position of not having to watch every penny. They are also, by design from birth or consciousness, not over-spenders or spend-y. They can metaphorically stick a wet finger [...]
