A university student interested in financial planning came to my office to discuss the industry. He asked, “What is the most important thing for me to do to prepare to be a financial advisor?” He listed the potential classes he might take, and internships that were available to him, trying to give me a bigger…
I drove past a business in town and noticed a big tent with banners advertising free hotdogs. In the parking lot stood quite a long line of people waiting for their food. I chuckled when I recognized many successful acquaintances in that line. I thought on the uniqueness of the situation. These well-heeled individuals were…
Years ago I had a client for whom I created a financial plan designed to get them comfortably to the end of their lives. A few months after the husband passed away, we received a call that was out of the ordinary. This nice lady needed $25,000 to pay for some remodeling in her home.…
An extensive exit poll this week demonstrated the vast divide in American politics. On each issue the respondents came down heavily along party lines. One question that stood out to me was, “How do you feel about the state of the economy?” Over 85% of Republican respondents said it was “Great” while over 85% of…
Years ago I hired a personal trainer to help with some body building goals. As I worked with him for a few months I saw significant improvement in the way I felt, and the way I looked. After a while I got tired of paying him so I let him go, thinking I could move…
Financial advisors often write articles telling investors what they are doing wrong. Some print booklets with titles such as, “The ten biggest mistakes investors make,” or “The eight reasons to never own (fill in your favorite investment to hate)…” I would like to turn the tables and discuss mistakes Financial Advisors make. 1 – Telling clients they…