The Scarcity Mindset, the Abundance Mindset, and the Impact on Public Policy

Note: A couple of years ago, I had a discussion with one of the deans of the Frank Batten School of Leadership and Public Policy at the University of Virginia. We discussed collaborating on a white paper for publication addressed at state and national government leaders. Naturally, time and other priorities took hold, and said […]

Leave Forecasting to the Weatherman

“Prediction is very difficult, especially if it’s about the future.” –Nils Bohr “Weather forecast for tonight: dark.” –George Carlin As we saw in “Do You REALLY Know How You Would React if the Stock Market Dropped by 20 Percent,” the personal finance industry loves their risk tolerance questionnaires. They think that you’re going to be […]

Do You REALLY Know How You Would React if the Stock Market Dropped by 20%?

“What is necessary to change a person is to change his awareness of himself.” –Abraham Maslow “The final mystery is oneself.” –Oscar Wilde If you’ve ever taken one of those online financial assessments, you’ll know that you’re asked questions about yourself. Most of them are either demographic – how old are you, are you married, […]

The Psychology of Debt – A Battle Between Your Two Brains

“Promises make debt, and debt makes promises.” –Dutch Proverb I received my first credit card when I was a plebe at West Point. Perhaps there should have been a hazing ritual to go along with it so that I would have been more scared of it than I was, but, hey, I was a plebe. […]

Could You Set Aside 78% More Money for Retirement?

“The Wheel of Time turns, and Ages come and pass, leaving memories that become legend. Legend fades to myth, and even myth is long forgotten when the Age that gave it birth comes again.” –Robert Jordan “What has been will be again, what has been done will be done again; there is nothing new under […]

Make a Decision and Make Monkey Brain Stick to It

The Law of the Letter: The best way to inspire fresh thoughts is to seal the letter. “It doesn’t matter which side of the fence you get off on sometimes. What matters most is getting off.” –Jim Rohn Has this ever happened to you? You’re at a nice restaurant that you’ve never been to. Everything […]