Category: Personal Finance

Apply Sutton’s Law With Every Client


Willie Sutton was a bank robber who spent more than half his adult life in prison. Despite his unenviable career, he had good ideas that translate into other realms. One of his famous ideas was an answer to a reporter’s question, “Why do you… Continue Reading “Apply Sutton’s Law With Every Client”

Monuments and Heirlooms


Many people have assets that are treasured by the family. These can include a farm handed down through many generations, a business carefully created, a cottage, painting, a piece of jewelry, an antique or art. Some of these assets are liabilities. In simple terms,… Continue Reading “Monuments and Heirlooms”

Reversability Is A Dimension Of Risk


No action is risky if you can reverse it for little or no cost. People often confuse complexity and the size of the transaction with risk. At the same time, they believe that simplicity and ease of performance will reduce risk. The world does… Continue Reading “Reversability Is A Dimension Of Risk”

Go Ahead! Take The Cover Off.


In the spring of 1954, there was great tragedy in the home of my grandparents, just up the street from where we lived. A wonder of the mechanical world of that time had stopped working. Their brand new, pop-up toaster, would not pop-up. My… Continue Reading “Go Ahead! Take The Cover Off.”

Planning Succeeds When …….


Financial advisers have a difficult job to do and most do it well.  BUT, it is harder if the client doesn’t know enough and it is harder if the adviser does not find out enough.  Where to begin? Clients need to know about: Investments… Continue Reading “Planning Succeeds When …….”

The 30-Second Life Insurance Interview


If you work in the family market for life insurance, you might want to try this interview.  Since it only takes about 30 seconds, you could theoretically have a lot of rejection and still be okay.  Do you have a will? If No, “If… Continue Reading “The 30-Second Life Insurance Interview”

What Is Your Idea Of The Best Question?


Any good question will take you places that are unexplored. Some of them provide fertile areas for growth and learning. There are even formal techniques. My personal favorite question is, “Okay, what then?” How did I come to that question you ask? Four answers.… Continue Reading “What Is Your Idea Of The Best Question?”

Is 99% Good Enough?


The Mexican government recently stated that the country is 99% safe. Do statements like that have any value? Maybe. If I am capable enough to recognize that 100% safe is not possible anywhere, then I suppose 99% safe is pretty good. The problem is… Continue Reading “Is 99% Good Enough?”

Why Are There So Few “No-Fee” Restaurants?


Why does a meal in a restaurant cost more than the same meal at home? First of all, you will need to define “same meal”  A steak dinner off my barbeque and a steak dinner from a fine restaurant will be different. My steak… Continue Reading “Why Are There So Few “No-Fee” Restaurants?”

Will You Buy This Life Insurance Policy?


Suppose I offer you a life insurance policy with a level premium for life, that cannot be cancelled, has no cash value, does not pay anyone if the beneficiary dies before you, disallows you changing the beneficiary, cannot be assigned to anyone else, and… Continue Reading “Will You Buy This Life Insurance Policy?”

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