It Looks Like I’ve got a 75% Chance of Making it Home From Work When we talk about achieving financial goals, we use the term “Probability of Success”. It comes from a Monte Carlo mathematical model that produces a number ranging from 1% to 99%. But what does a 50%, 75%, or 99% probability of
Category: Behavioral Finance
Humans and Monkeys Fall for the Same Trick
I am sure you’ve heard of the monkey trapping technique where a hunter hollows a coconut, ties the coconut to a tree, and leaves a treat such as fruit inside the coconut. The hole is big enough to fit the monkey’s empty hand, but when it makes a fist, the monkey’s hand becomes too big
Decide Today, What Kind of Old Person You Want to Be
“I’m sorry, but I have to take this call…Mary will tell you more about why.” We were in the middle of our client review, when Jeff hurriedly excused himself to the lobby. I looked over to Mary and said that I didn’t need to know the details, but hoped everything was okay. “Oh, everything’s fine…or
Quarter in Charts – Q3 2021
According to NPR’s Rob Elving “The Basics” explainer on the Debt Ceiling, congress will likely raise our nation’s imaginary borrowing “line in the sand” for nearly the hundredth time since 1917.
Do Cryptoassets Like Bitcoin Belong in My Portfolio?
Bitcoin has dominance, with 45.6% of the market cap, followed by Ethereum, at 17.1%. As more people have made (and lost) money…
5 Emotional Roadblocks that Could Halt a Successful Estate Plan
Estate planning can be an immense blessing to any family at a time of loss. Yet you would be hard-pressed to find any family who would rather sit around the table discussing estate planning than enjoying the day outside.
Quarter in Charts – Q1 2021
So much over the last year has felt like it belonged in a movie rather than real life. From COVID to the election, from social unrest to working and schooling from home.
If I Had to Recommend One Book About Money
If you wish to improve your financial life or enjoy well-written books then I would recommend taking the time to read “The Psychology Of Money”.
How Much Car Can You Afford?
We will solve this problem using a sliding scale. Our scale will range from 10% to 30% of our annual pre-tax income.
The Best Credit Cards EVER… For Now
I want to start this off by apologizing to my dad and Dave Ramsey, both adamantly against credit cards. I was raised in a home that praised the debit card and cash because they were low risk and made over spending less likely.
