Over the past few years of working with millennials, I’ve come to realize that there are numerous myths and misconceptions that are driving millennials behavior around money. I am not sure where these misconceptions began, but regardless, they exist. As I began meeting with more and more millennials, I jotted down every misconception I heard with a goal of debunking…
Tweets of The Week Favorite Articles Morgan Housel: Book: The Psychology of Money– “There are people with no financial training or background who do well with money. There are also partners at Goldman Sachs with PhDs in economics who go bankrupt. That kind of gap between knowledge and results does not exist in any other field. And the mere fact…
As a millennial, you may feel that the cards are stacked against you. Between debt, an increased cost of living, and lower wages, it is hard to think otherwise. However, millennials have something at their disposal that puts them a leg ahead of the generations above them. It’s called compound interest, aka the 8th wonder of the world according to…
Tweets of The Week Favorite Articles Morgan Housel: Save Like A Pessimist, Invest Like An Optimist– “If the odds are in your favor and you can keep them in your favor for a long time, you shouldn’t just be an optimist. You should be a ridiculous, full-blown, giddy optimistic. Which is also what history tells us, isn’t it? All good investing…
How do you track your personal financial progress? Maybe you measure how much your savings have increased over the last year. Maybe you track the growth of your 401(k) and other investments. Maybe you do nothing at all and just hope you are making progress. The problem is, none of those ways are enough. They fail to capture the entire…
Tweets of The Week Favorite Articles Todd Tresidder: What Endurance Athletes Can Teach Us About Building Wealth– “Endurance running and wealth building are both character driven activities that require goal setting, focus, commitment, perseverance, and good old fashioned hard work. It takes a lot of commitment and a deep sense of purpose to reach your potential in wealth building and endurance sports—especially…
As a millennial, you often hear Boomers and Gen X-ers talk about how we are terrible at managing money as if they had it all figured out when they were our age. The thing is, they didn’t. Many of them made mistakes just like us. It’s a part of growing up. However, we have the opportunity to learn from the…
Tweets of The Week Favorite Articles Morgan Housel: Overcoming Your Demons– “Inside of every struggle is the seed of some of the happiest moments of your life. The psychology of happiness tells us there’s less than a dozen things that bring people lasting joy. One of them is progress in what you’re pursuing. The more progress, the more happiness.“ Amyr Rocha…
People often wonder if now is the right time for them to hire a financial advisor. And if not now, then when? While almost anyone could benefit from working with a financial advisor, there are certain times in life where it really pays off to be working with one. You have a major life event happening Every major life event…
Tweets of The Week Favorite Articles Johns Hopkins: Stay the Course with Personal Finances during Pandemic – “If you’re committed to a long-term passive investing strategy (as most of us should be), my advice remains the same: Stay the course! Don’t chase speculative investments. Continue to make your regular monthly contributions to retirement plans and maintain a focus on well-diversified,…