Dec. 25. As a child, I spent 364 days each year just dreaming of what this day would feel like. From Thanksgiving to Dec. 24, I would comb through the JCPenny and Sears Christmas catalogs fervently marking pages and meticulously planning what would eventually become my Master Wish List. I would end the ritual by strategically placing my carefully crafted list alongside a persuasive snack of milk and cookies. Then, with expectations set, I would close my eyes, dream a wonderful Christmas dream and awake to Christmas Day.
Jul 10 2012 | Posted in
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He was beaming with obvious pride as he put the finishing touches on one of his last remaining sources of dental income. My youngest son had just lost one of his last remaining baby teeth and clearly wanted to make this one count. I watched him polish it to a near glow, remembering the days when I, too, would carefully prepare my newly plundered treasure for the hopes of finding a shiny new quarter under my pillow as a reward for my efforts the next morning. “What do you think she’s worth?” I asked playfully. With an optimistic grin and without hesitation, he proudly proclaimed, “Five bucks!” Five bucks for a tooth? As it turns out, he must have extraordinary teeth, as the going rate in 2012 for an “average” tooth is now a little more than two dollars. Hello inflation. Unfortunately, the Tooth Fairy is not the only one whose dollar buys less today than it did the day before. Most people deal with inflation by moving savings dollars from low yielding accounts into investments that are expected to grow at least as much as inflation. While this is a good start, it is important to understand that not all things inflate the same way and our spending habits change as we age. As we age, we tend to spend less on consumable items and more on service related items like healthcare, which has a long term inflation rate of nearly 6 percent compared to inflation on consumables which currently average around 3 percent. Creating a financial plan that accounts for only a 3 percent inflation rate will virtually guarantee a financial shortfall in your later years of retirement.
Jun 26 2012 | Posted in
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Sailing is an interesting study of physics. A novice would suppose that the best way to sail would be to position yourself with the wind to your back and let the wind drive directly into the sail driving you forward. Basically, “Let’s set sail and see what happens.”
Men try to ignore it, women intuitively know it. Sorry Master Yoda, giggle if you must, but when it comes to investing, size does matter. It seems to be one of the most elusive aspects of investing for both do-it-yourselfers’ and professionals alike. You have a great idea for a trade, but how do you know HOW MUCH to invest in your idea?
May 23 2012 | Posted in
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There is nothing more frightening than a lack of understanding. I’ll never forget the anticipation (ie. feeling of absolute terror) as I removed my Army surplus backpack from the Land Rover after hours of “off-road” travel. My chaperone spoke with my Masaai foster family for a few moments and drove away, assuring me that she would be back in a few weeks. That’s when it set in. I had just been dropped off in some remote African location for two months and could not understand a single word anyone said.
May 8 2012 | Posted in
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It finally happened this past week. My daughter couldn’t wait for this day to come, and I have been fearing it since her birth. I have to admit, there is something special about 16 candles on a birthday cake. After years of fearing this iconic moment in my daughter’s walk towards womanhood, I found myself filled with happiness as she embraced the celebration and I was reminded what a joy the last 16 years has been.
Apr 25 2012 | Posted in
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