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BEHAVIORAL FINANCE: Neutralize Emotions and Biases for Better Money Decisions

Leave a Comment / Behavioral Economics / admin

Humans are basically lazy decision-makers. We like familiarity and we look for patterns in information to streamline the decision-making process. We’d rather not spend the time and mental energy required to take an objective, deep-dive into the facts and variables of our various alternatives. Instead, we utilize a variety of decision-making shortcuts. Let’s look at […]

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Investor Emotions and the Psychology of Money

Leave a Comment / Behavioral Economics / admin

It’s not a newsflash to say, “people get emotional about money.” However, modern macroeconomics is based on rational choice theory. That is, individuals make money and investment decisions by logically weighing costs and benefits to maximize their personal wealth. Ah, if it were only that easy! While rational choice theory generates clean mathematics, its output

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Diligence

Leave a Comment / Core Values / admin

Being determined and executing responsibilities with care and perseverance. Their strong work ethic drives efficient and effective performance.

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Discernment

Leave a Comment / Core Values / admin

Being able to understand and properly assess complex situations. It involves using knowledge and experience to dig deeper, sift through details, and recognize subtle differences between choices to enable wise decision-making.

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Owner Dependency: Do you own a high-stress job or are you an entrepreneur running a business?

Leave a Comment / Entrepreneurship / admin

In last week’s story, Steve Adams left the comfort of his corporate career to become a business owner. He identified and acquired an iron and metal fabrication business, ABC Metalworks, without engaging a financial advisor or an experienced M&A (buy-side) professional. As a result, he missed or overlooked issues with the business that he would

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Relevant Living™ – Inventory Your Uniqueness: What Are Your Differentiators?

Leave a Comment / Relevant Living / admin

In prior exercises you’ve established what’s important to you (Core Values) and looked back to the high and low points of your past (Lifetime Chronology). In this exercise, you’ll examine yourself in context to the world around you to determine what makes you unique and special. You can establish criteria for uniqueness any way you’d

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Excellence

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Being masterful and possessing the expertise necessary to deliver high performance. This is demonstrated by being subject matter experts with a commitment to achievement, continuous improvement, and lifelong learning.

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You’re Not Too Small for Big-League Advice: Financial Planning for Entrepreneurs

Leave a Comment / Entrepreneurship / admin

We run into this objection from time to time: “I’m not one of the big guys—I don’t need financial planning.” This couldn’t be more wrong. It is quite literally the case that everyone needs a financial planner! Entrepreneurs obviously fall into that category, but there’s another reason business owners need a financial planner: They have

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Relevant Living™ – Document Your Lifetime Chronology: A Time For Reflection

Leave a Comment / Relevant Living / admin

When planning for the future one must be careful not to get bogged down and burdened by prior experiences, beliefs, and biases. However, with proper context, looking back into our past can provide us with insights into how to plan our future. In this third exercise of our Relevant Living™ series, you’ll plot your most

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Abundance

Leave a Comment / Core Values / admin

Being optimistic and growth-oriented, believing opportunities and resources are plentiful. This means believing growth and positive change are possible, embracing challenges, and always stretching and developing themselves.

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