The short answer is, “Yes!” We often spend time planning for our financial future, making sure we have adequate funds to put our children through college and to support us in retirement. We may even plan to provide for our children, other family members or charities once we are gone. Most of us don’t want to think about serious illness and death, let alone plan for our finances and estate after death. However, it is very important to include estate planning in our financial planning. The … [Read more...] about Can You Control Your Estate from the Grave?
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Enjoying the Benefits of Planning
Vacations should be fun and relaxing, so it’s important to carefully plan them in advance. Nobody wants to go on a hard-earned vacation and be uncomfortable or disappointed because of not planning well. Financial planning is similar – nobody wants to fall short of financial goals simply because of a failure to plan. However, according to a survey by MyBankTracker.com, more than 50% of Americans spend more time planning their vacations than they do planning their finances. Financial … [Read more...] about Enjoying the Benefits of Planning
Recognizing Bias
We all like to think of ourselves as rational human beings. In reality, every one of us is prone to dozens of biases that make us think and act irrationally. Sometimes, we are aware of our biases; more often, we are not. There is an entire field of study on cognitive biases and human behavior. In fact, even simply thinking that we are rational people while knowing there is irrationality in others is called blind-spot bias. Understanding this can help us recognize when a bias is at work and can … [Read more...] about Recognizing Bias
