Behavioral Finance: Common Cognitive Biases

On today's epiosode we explore some outside the box ideas to help family and friends with two big financial burdens. Medical expenses and tuition expenses. By using direct payments to the provider or institution, you exclude the gift from your gift tax return, which allows you to be more generous i…

When does it make sense to itemize deductions? Well, if you are far exceeding the standard you’ll want to itemize. But you can also look at opportunities to “bunch” charitable donations. Sounds pretty simple, right? We all know that the tax code is anything but simple, so you need to make sure that…

I’ve always said that generous people tend to be happier and more successful. But that can be a bit of a chicken and the egg situation. Are generous people happier because they are more successful? Or are they more successful because they are happier? I don’t really know for sure, but I do think th…

At this point, you may be saying to yourself, “this is good information and all, but I’m not retired, and I won’t be for awhile, so what’s the point?” If this is you, I would encourage you to keep listening. As I said in a prior episode, you don’t just show up to retirement without preparation. And…