My daughterโs bus leaves her stop at 7:25 a.m. To get there with ample time, I know I need to leave our house at 7:15. Otherwise, I risk needing to text the other bus stop parents something along the lines of, โHershfield family coming in hot! Please hold the bus for us!โ which immediately prompts […]
The Headwinds vs. Tailwinds Asymmetry Read More ยป
Imagine youโve been granted a choice from a magic (retirement) genie. He asks if youโd rather have $100K at the start of your retirement or $500 per month for the duration of your retirement. Which would you choose? Or, what if the choice was $200K versus $1K per month? Which option seems more adequate โ
The Illusion of Wealth Read More ยป
Consider the numerous decisions we face every day: what to eat for breakfast, what we should wear to work or a restaurant, who we should spend time with, and whether and what to watch on our screens after the day ends. Those are undoubtedly choices that could fall under the umbrella of โlittle decisions.โ We
The Psychology of โBigโ Life Decisions Read More ยป
I recently had an experience that may be relatable to a lot of people who have thought about their own money, their kids’ money, or their clients’ money. For the last two July 4th weekends, my father-in-law has helped our children set up a lemonade stand in town. This year, my kids earned about $250.
Beyond the Lemonade Stand: Cultivating Financially Savvy Kids Read More ยป
Is home really where the heart is, or in todayโs financial climate, has the adage evolved to โhome is where your low mortgage rate from three years ago is?” Anecdotally, in conversations with financial advisors, Iโve heard the same story several times: Clients feel stuck in their homes because they donโt want to give up
Stuck at Home: Mortgage Rates and the Endowment Effect Read More ยป
Itโs the start of a new year, and Iโm sure youโve thought a decent amount about how the year will play out. (Donโt worry, this isnโt going to be yet another post about New Yearโs resolutions!). Consider, for a minute, something about your upcoming year that is marked by uncertainty. Maybe itโs the state of
Why Do We Mispredict the Future? Read More ยป
What do you think of when you hear the term โmindfulness?โ For me, itโs an iconic image of Don Draper in the final season of the TV series โMad Men.โ The scene presents a lesson in contrasts: Draper, wearing a crisp white button-down, sits cross-legged on the ground with the Northern Californian coastline behind him
Can Financial Mindfulness Help Enhance Outcomes with Money? Read More ยป
Have you ever had the feeling that people are somehow getting worse over time? Or that the moral foundations of society are fraying as the years tick by? Brand new research published in Nature explores the prevalence of this perception as well as the reasons why it may come to be. Admittedly, this topic may
Is It Just Me, or Are Things Getting Worse? Read More ยป
We explore why taking a rigid approach versus a flexible approach is more effective when planning, pursuing and attaining goals.
How Do We and How Should We Set Goals for Ourselves and Others? Read More ยป
One of my favorite headlines from The Onion reads: โThirty-one-year-old Edward Brawleyโs plan to get himself an umbrella from a random lost and found took two hours, but it saved him $2.99.โ What a relatable tale. After all, who among us hasnโt found ourselves in situations where we are completely ignorant of the value of