“When you introduce competition into the public school system, most studies show that schools start to do better when they are competing for students.” –Bill Cosby I am a product of public schools through and through. My elementary, middle, and high schools were all public. West Point is a public university. I went to graduate [...]
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Should You Work With Me If You Have a Lot of Debt?
“Knowing what you aren’t is just as important as knowing what you are.” –Me I recently received a communication from someone who had a significant amount of debt and wondered if I was the right person to work with them. In short, the answer is no. You’re better off spending your limited resources on a [...]
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Are We Taking the Wrong Retirement Risks?
“Retirement at sixty-five is ridiculous. When I was sixty-five I still had pimples.” –George Burns It’s pretty well known that we’d rather have pleasure now than pleasure later. A whole self-help industry popped up in the 1980s based on the notion of delaying gratification and the benefits of doing so rather than giving into our [...]
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The Life Cycle Saving and Investing (LCSI) Approach
What does this mean? What is the purpose of having money? Is it so that you can put it in a bathtub and roll around in dollar bills (or hundred dollar bills) a la Scrooge McDuck? Money is used to purchase the things and the services that you want. Just as Austrian economist Ludwig von [...]
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Why You Shouldn’t Obsess Over Your Net Worth
“Cure for an obsession: get another one.” –Mason Cooley There are few things about which I am obsessive. One of them is toothpaste on the rim of the tube. For whatever reason, if the top doesn’t smoothly twist onto the tube, it drives me nuts. Yes, I know…squeeze toothpaste. Even though I am a generally [...]
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Do You Have a Social Responsibility to Save?
“The lack of money is the root of all evil.” –Mark Twain Back during World War II, U.S. citizens were encouraged to buy war bonds – to save 10% of their paychecks for the war effort. From Hollywood to Dr. Seuss, influential celebrities extolled everyone else to pitch in to the war effort as a [...]
