The place to explore questions about money and find answers that balance numbers and psychology.
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Retirement may be more fun when your spending “slides” instead of “smiles”. A question, only partly joking: What better describes retirement spending—a smile or a ski slope? Imagine your retirement. No more work obligations. Plenty of time, and finally the…
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The Six-Month Emergency Fund Everyone Recommends Is an Expensive Psychological Trick. Here Is Why.
Introduction “Keep six months of expenses in cash so you will not have to sell investments at the worst possible time.” This sounds unquestionably prudent. But what exactly would that “worst possible time” cost? And how much are you paying…
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The Arbitrarily Invented Retirement Number
“I would retire if I had $2,3,5, 10 million.” The number sounds precise, but it represents a feeling, not a calculation. No expected spending, taxes, housing costs, or withdrawal rate have been established. Core question: What monthly lifestyle are you…
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It Is Not About Money Until We Remove Money
The Invisible Money Driver in Action Imagine the situation. You are discussing your plans for the next five or ten years with an acquaintance. “I’m getting a bit bored with my current job. Perhaps I should change careers. Nursing might…
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The Society Time Machine
One of the simplest psychological tools for thinking about your financial future is the “society time machine.” Find people who are about 10 years older than you, with similar education, income, lifestyle, and social environment. They may be coworkers or…
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