Optimal Cash Flow Management

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One of the most common points of improvement early on in the financial planning process is cash flow management. Whether the client lives paycheck to paycheck or is sitting on a significant amount of cash in their checking and savings accounts, most people don’t know the answer to “what’s right for me?” and consequently either overspend and run a constant …

The Value of Trust

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In my newfound academic studies, I get the opportunity to read research. A lot of research. A lot of research. This isn’t for the pure fun and joy of it, but because the effort to obtain a Ph.D. is equal parts your own research and learning what’s already been done in the field. Consequently, you spend a significant amount of …

Beware Your Bias – Three Ways Politics Warps Your Perception of Money

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The United States has, by design, a politically polarized governmental system. While many other democracies practice with a parliamentary system, which utilizes proportional representation to allow for multiple small parties to build coalitions that result in majorities, the United States system favors deliberate disfunction. Concerned about tyrannies of the majority, the founders put in place a number of mechanisms to …

What have we learned?

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Well, first of all, it’s good to be back; I missed opining at everyone for a whole two weeks! Now down to business: I promised that I would share with you what I learned in the two-week Personal Financial Planning summer intensive as part of my Ph.D. program. Simply put, it’s this question: “What have we learned?” You see, Personal …

Voting With Your Dollar

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A unique opportunity has arisen in the financial services world over the past decade or so: Investing in your beliefs. Now that isn’t to say donating to non-profits or your church, but the actual advent of investment products designed to allow you to invest in companies representing your beliefs or to avoid investing in those you don’t want to support. …

Flipping the Money Script

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We all have money scripts. They’re immutable psychological principles that were founded in our early childhood and that have been informed by the terms and perspectives we’ve observed in others around money as we’ve grown up. Positive examples can be “a penny saved is a penny earned” or “pay yourself first”, while more destructive versions can be “there is never …

Risk and Reward

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Yesterday a well-known financial planner who is the employee of a larger firm asked this question on Twitter: “Business owners – what were the most helpful resources or learning you’ve had regarding being an owner vs employee? What advice would you give others?” This a common conversation and question that financial planners face with both clients and the general public. …

Lessons Learned from an Over-Concentrated Economy

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Well it’s official, as of Monday June 8th the S&P 500 Index returned to a Year-to-Date positive return, representing the fastest decline of the market and recovery from the decline in a single year in market history. While the technicalities of the causes for both the fall and rise of the market can and will certainly be contested between finance …

Memorial Day

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I don’t like to bring up that I’m a Veteran very often. It’s not out of some sense of secrecy, shame, or other emotional motivator. Rather, simply that I’d rather not identify myself forever more by a six-year period of my life. I was fortunate enough that my time in the military was unremarkable, and moreover lucky that it was …

Investment Planning is not Financial Planning

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I recently posted on social media my humble honor of being asked to be one of the faculty for the Financial Planning Association’s 2020 Summer Externship. The Externship is designed to provide hundreds of students around the country (over 500 as of today), with a replacement for their internships that have been cancelled due to structural or budgetary issues caused …