We’re pretty big on summer goals in my clan. Because you can blink and the summer’s gone, I’ll sit with my boys at the beginning of summer and find some meaningful things we’d like them to accomplish. They can span academics, athletics, and general life skills. There are always some groans, especially when I’ve decided […]
The Key to Achieving Goals Read More »
I must start today with a confession: I would be considered a child of privilege by most of the world. I grew up in a solidly middle class household in one of the richest countries on the planet. I never lacked anything truly needed to be a healthy and happy little guy. However, that doesn’t
Thank You for Spoiling Your Child Read More »
Let’s say your next vacation is to Mogadishu. There’s tons of history and lots to see. You could tour a mosque or two, shop the Bakaara Market, and maybe even do a Black Hawk Down walking tour. Your Facebook friends would be jealous. Your thrill seeking wouldn’t come free, though. There’d be a pretty reasonable
Do You Really Need a Budget? Read More »
I don’t really like roller coasters. It’s not that I’m terrified of them – it’s just that I get absolutely no enjoyment and feel like I’m exposing myself to a bit of danger (they’re maintained by high school kids, you know) and stomach lurching for no reason at all. Plus you have to pay for
Do You Feel Lucky? Read More »
Raising children isn’t always fun. If it weren’t for the whole survival of the species angle, humans might even have given up on it long ago. Since we do need them, though, it’s good to study best practices for raising them. A schoolteacher friend once shared with me a quote from Dennis Mitchell, an expert
Someone Will Discipline Your Finances Read More »
Early in the oughts, I was sitting with a colleague to discuss the staff who worked for us. I commented on one of his reports, who seemed to be very intelligent, friendly, and competent. I was thinking of using her for some extra work on one of my engagements and wanted his opinion. He winced
The Key to a Successful Career Read More »
Many moons ago, I dined with a British partner of the consultancy I called home. This was supposed to be a reward of sorts – if you had done well on the engagement and/or he heard good things about you, he’d invite you to dinner. Just the two of you. On the plus side, you’d
The Case for an Inheritance Read More »
To figure out how much one needs for retirement, many turn to a 4% withdrawal rate, which is based on studies that suggest this could have been a “safe” (you wouldn’t have run out of money) strategy in the past. So once folks get a portfolio large enough that 4% of it equals their annual
The Best Withdrawal Rate Read More »
Let’s start today with a fun exercise, which may seem hard but really isn’t. Let’s go back to 1 A.D., and I want you to pick the world’s top two economies at the time. Then let’s jump to 300 A.D. and do the same. This is fun, so let’s do it for the years 600,
TGIF: The World’s Greatest Economies Read More »
One of the biggest financial asymmetries we all face is retirement. Saving too much for retirement is not ideal, but saving too little is a disaster. A lot of retirement planning is therefore focused on not running out of money before you die. The most ubiquitous reference you’ll see nowadays is to the “4% safe
The Warm Embrace of a Safe Withdrawal Rate Read More »