Category: Planning

Financial Plans Are Not Facts


Financial plans are in their simplest description a model of the future as related to the money parts of our life.  The key is that they are a model.  They are not fact.  They may not even be close to reality. You and I… Continue Reading “Financial Plans Are Not Facts”

Now and Then


Planning is about addressing a client’s hopes, fears and expectations.  Recall that they can not spend the same dollar or the same hour twice.  Further recall that optimized and perfect are not synonyms.  Once we carry those two ideas into the planning sphere it… Continue Reading “Now and Then”

Don’t Take A Knife To A Gunfight


What, if any, is the duty of a financial adviser to educate their client as to macro and micro economics, taxation, psychology, longitudinal spending models, mortality and morbidity models, financial products and processes, financial planning in general, their plan in particular and how they… Continue Reading “Don’t Take A Knife To A Gunfight”

Interesting Times


There is, purportedly, a Chinese curse that says, “May you live in interesting times.” Given events over the past five years, it appears that the curse may have been invoked. As always the question is, “What are you doing about it?” Turbulent times need… Continue Reading “Interesting Times”

Address Taxation


All tools are designed to get a task completed in an efficient way. A power saw will cut wood into desired shapes much more quickly than a hand saw will do. However, if you try to do it without plugging it in, you will… Continue Reading “Address Taxation”

For Advisers – Be A Good Neighbor


I have spent five hours reviewing a shareholder agreement for a valuable group of companies.  It is rather ingenious in the way it allocates equity value, control and day-to-day income distributions.  It is tax efficient and probably durable.  People have spent a lot of… Continue Reading “For Advisers – Be A Good Neighbor”

Why Good Ideas Fail


Only good ideas fail. Bad ideas never get the money to start. Good business ideas are worth about 50 cents a dozen. Strangely people who have never had one before, think they are worth more. The evidence suggest that 50 cents may be too… Continue Reading “Why Good Ideas Fail”

Advice From Ecclesiastes


Ecclesiastes 9-11 offers some useful financial planning advice. I have seen something else under the sun: The race is not to the swift or the battle to the strong, nor does food come to the wise or wealth to the brilliant or favor to… Continue Reading “Advice From Ecclesiastes”

Financial Planning – Use A Guide or A Map


Financial planning is a troublesome and important endeavor.  It’s important because a problem anticipated is a problem solved and it is troublesome because projecting the future relies on the past to provide the pieces that build the model.  The future might be based upon… Continue Reading “Financial Planning – Use A Guide or A Map”

Learning From Failure


Today I am a curator.  A selector of material organized along a common theme.  The theme is – success follows failure.  I often heard, “Good decisions are the result of experience and experience is the result of bad decisions.” or perhaps, “Experience is the… Continue Reading “Learning From Failure”

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