If it seems like your financial planner has gotten more touchy-feely lately, it might not be your imagination. The powers that be recently made the “psychology of financial planning” an official knowledge domain for CERTIFIED FINANCIAL PLANNER™️ certification. This formally recognizes the largely underrated role this less quantitative side of money plays in financial outcomes. It’s a little early to gauge the long term impact, but here’s why it matters to you and your money.
The Paranoid Cheapskate’s Guide to Financial Independence
Rocking a Mullet Portfolio? Time for a Trim!
Since the COVID-19 virus reared its ugly head in March 2020, few aspects of modern life have remained unchanged. Perhaps one of the most surprising effects was the impact on hairstyle trends. First, with lockdown closing salons, things got very hairy. Then the situation went from bad to worse.
To the dismay of those of us who survived the 80’s, the mullet staged a long-feared comeback. Blame the Tiger King or Miley Cyrus, who apparently failed to grasp the lessons of her father Billy Rae’s mullet missteps. Either way, the most ridiculed haircut ever started cropping up everywhere.
Unfortunately, the resurgent popularity of the mullet is not the most insidious “business in the front, party in the back“ development threatening society. No. In fact, it’s not just people, but also their portfolios, that may be sporting the misbegotten look. And this parallel trend is happening for much the same reason: unchecked growth. Except with portfolios, instead of hair gone wild, it’s the stock market.
COVID-induced Cash Crunch? 19 Sources You May Have Overlooked
If you're a Zoom shareholder, tax expert, or bike shop owner, your financial health may have gotten a big boost from the coronavirus. But if you’re like many, the opposite is true. The CARES Act helped, but it didn’t plug every cash flow leak. And with the uncertain status of the economy and future stimulus benefits, money could get even tighter.
Next stop, 401k? Not if you can avoid it…
Bear and Bear Alike: Volatile Markets Reminder
If the recent market volatility has shaken your investing confidence (again), this article is a good reminder of why to stay the course. It was written in late 2018 about market conditions that seem quaint by current standards. More of a teddy bear than a real bear, really. So history doesn't exactly repeat itself. But at the very least, it rhymes. And the way forward in volatile markets remains the same.
Click here to read the article.