My son recently wanted to buy a Playstation with all sorts of extras. The “bundle” (as he called it) was too good to be true; it was completely irresistible. What I love about this story is that he did not say to himself: “I cannot afford it”; he asked “How can I buy it”? He calculated how many hours he needed to work in our businesses to buy the Playstation, and then worked 12 hours in a 24 hour period to make it happen before the sale ended. What do you do when you see something you want that is not in your spending plan right now? Do you say “I cannot afford it”? Or, do … [Read more...]
The Red Dragonfly Signaled Mid-Year Portfolio Update!
July 21, 2011 By Leave a Comment
The time for my mid-year investment portfolio update is signaled by the arrival of a beautiful red dragonfly at our pool. Last week he arrived; right on time, and as gorgeous as ever. What are some things to include in your bi-annual portfolio update? How does your portfolio compare to both January of this year and one year ago? Stocks have continued their uptrend until recently, so you probably have some good gains if you have been invested in the stock markets. Do you need to rebalance your portfolio to increase or reduce the amount in any one asset class, such as stocks or bonds? This … [Read more...]
Don’t You Love That Vacation Clarity?
April 4, 2011 By Leave a Comment
Have you ever noticed how your mind gets uncluttered while you are on vacation, then on the flight home you can’t write fast enough as new and inspiring ideas pour out of your mind? Recently, I was on the flight back to Austin after an energizing ski trip in Park City; I spent half an hour mapping out a plan that would create a significant improvement in my financial life. I’m now on the verge of a large empty nest and two sons in college, so it definitely feels like a time of transition in so many ways, including my personal finances. This plan had come to me briefly in passing moments … [Read more...]
