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A Kibosh on the Rainy Day Fund

A Kibosh on the Rainy Day Fund

Do you really need to have several months of expenses sitting in an emergency fund, AKA a rainy day fund, earning no real return? I have offered such advice for most of my clients for years, even while I personally don’t maintain one. If you hate the idea of having a large chunk of money not ...
Managing Your Real Estate Addiction

Managing Your Real Estate Addiction

My friend Soren is breaking up with his partner, who he lives with, and can’t move out. Why? Soren’s entire net worth is consumed by a company 401(k) plan and a vacation rental with a large mortgage that he bought with his partner. By the standards of the average person, Soren is wealthy, but ...
Move Further from Your Investments and Closer to Your Advisor

Move Further from Your Investments and Closer to Your Advisor

I admit it: I have a fear of intimacy…with my investments. From what I’ve observed, investors make some of their biggest financial mistakes when they get emotionally attached to their investments. My suggestion is to try creating some distance from your investments and instead get closer to ...
An Election-Free Investment Strategy

An Election-Free Investment Strategy

This time it’s different. Sir John Templeton once said that those might be the four most expensive words in the English language. And here we are again – just like it happened in 2012, some friends and clients have asked me if they should move their investments to cash out of fear that an ...
All In or Bust

All In or Bust

So much for beginner’s luck… Less than an hour into my first-ever game of Texas Hold’em I was told that I had no choice but to go “all in” with the last of my poker chips. (The all-in moment is where you put what’s left of your chips into the pot and hope for a winning hand that will keep you ...