So this is embarrassing: I’ve been advising institutions and individuals about financial decisions for nearly three decades and yet I’ve failed many times to make good choices myself. I want to share a list of my failures with you both so you can avoid them and as a commitment device, so I don’t keep failing … Continue reading My Most Embarrassing Financial Failures
When I exercise, get a check-up, get my flu shot or skip dessert (too rarely), I do it because I’m supposed to. I have a vague impression that the cost, pain or other inconvenience I experience today should be more than offset by savings or other benefits in the future. One thing I’ve never done, which … Continue reading How a Finance Guy Looks at Exercising, Inoculations and Fruit for Dessert
I took my annual look at my investments this week, and boy did I get it wrong. A few years ago, I determined I should have about 70% of my investments in equities. Instead, as of yesterday, I had less than 60%. Most of the excess was in cash, earning essentially nothing and missing out on … Continue reading How to ‘Architect’ Your Investment Behavior
I’ve got a wickedly complex decision to make. What should my priorities be now that I no longer have a full-time banking job? I’ve got at least a dozen different alternatives, each with subtle-to-obvious differences with respect to my key values including impact on my family, benefit to society, intellectual challenge, financial security and leverage of … Continue reading Got a Tough Decision? Fuggedaboutit!
The Atlantic recently ran this terrific article by Jonathan Rauch about the nearly universal u-shaped path of happiness that most humans and some primates follow: Happiness starts relatively high in early adulthood, declining steadily until late 40s or early 50s, when it picks up again until the final years. It appears to be much more … Continue reading Career Decisions & the U-Shaped Happiness Curve
We can we improve our ability to make wise choices in business and personal life by better understanding our brains and setting up conditions conducive to good decision-making. A good example is when we are confronted with a major life decision such as whether to seek (or accept) a new job. While few would argue this … Continue reading Approach and Avoid: How to Use the SCARF Model to Set Better Conditions for Career Decisionmaking