Planning Encyclopedia

Inflation-proofing your investments

“Without question, people worry about bad things happening to their money. The idea of losing money can cause considerable mental anguish. Unfortunately, sometimes people may not be worrying about the right things. People will overestimate the risk of something rare but dramatic, and underestimate the risk of something common but boring.” Smart Money Inflation-proofing your…

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Also posted in All Columns, Investment Management |

Financial New Year’s resolutions

“This is the time of the year where people will think about making improvements. In the spirit of New Year’s Resolutions, here are some suggestions to improve your financial situation.” Smart Money Financial New Year’s resolutions

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Prosperity Goals

The intention of Prosperity Goals is to provide a guided transformation. To provide a sound intellectual framework to make smart decisions, to help people to stay the course, and consequently to help people achieve their financial objectives. The key is that if you identify certain things as being important to you, but you then you…

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Don’t get lost in financial jargon

“The financial industry is full of jargon and buzzwords and acronyms. Some people feel intimidated to ask what all this arcane stuff means for fear of looking dumb. Folks, believe me, it’s better to ask for clarification than to try to muddle through.” Smart Money Don’t get lost in financial jargon

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These good times are here to stay, right?

“Some people will look at past performance and extrapolate what has happened out into the future. They think the recent trend of good performance will continue without interruption, and they jump in because they want a piece of the action too. But trends don’t last forever. Just because an investment has already appreciated is no…

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Also posted in All Columns, Retirement Planning, Risk Management |

The magic of goal setting

“Just writing your goals down and then somehow reaching them may seem like magic, but it makes sense when we think it through. To focus our attention and our actions on living with purpose should increase our odds of success over the randomness of an unplanned life. It has been said that a goal without…

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Also posted in All Columns, Smart Money Blog |

Where do you get your information?

“Have you ever had a conversation with someone who was totally convinced of something that you know to be false? I am not referring to legitimate difference of opinion. Rather, something more along the lines of you are a mathematician, and someone is trying to tell you that 2 plus 2 equals 5.” Smart Money…

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How to use a net worth statement

“In our daily routines it can be easy to overlook all the incremental bits of progress that happen. Sometimes it feels like we are working hard and still not getting anywhere. But when you look back to where you were last year and the year before, now you can start to see the progress: the…

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Also posted in Money Management |

If I was Prime Minister

“It’s election time, and the political promises are thick. This has me thinking what I would do if I was the Prime Minister. Bearing in mind that I am not running for office, and I am not letting pragmatism get in the way of this column, including costing any of this out. I am not…

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What does a financial planner do?

“I get it that financial planning might seem dull and unexciting to some. And I am not saying that you need to care about my own financial planning practice. But you should care about your own financial planning. Part of the issue is that a lot of people don’t really know what a financial planner…

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