We all call on family members and friends from time to time when we’re making complex decisions. Advice from those who care most deeply about us usually carries great weight. When we’re making major life decisions, though, it’s a good idea to seek the advice of a trained professional to complement the views of family and friends. A recent experience reminded me how valuable both sources are. I had a routine blood test. There was one unusual result, and I made an appointment to discuss it with my doctor whom I’ve been seeing for 15 years. Then I took the… Read More

My husband was reading about Michael Jordon and shared a quote with me. “My father used to say that it’s never too late to do anything you wanted to do.  And he said, You never know what you can accomplish until you try.”   It reminded me of two of my friends who are living examples of Michael Jordon’s father’s wisdom.  I imagine he was talking to his son about his basketball come back.  But I think it applies just as well to my friends’ financial comeback stories. Both of the friends I’m thinking of are women in their mid-50s, neither… Read More

I received a present recently that means a lot to me.   It’s a journal. It’s special both because my daughter gave it to me and because it has my favorite quote on the front: “Go confidently in the direction of your dreams.  Live the life that you’ve imagined.”  ~ Henry David Thoreau, Walden This quote always inspires me, and there have been many moments in my life when I did not know what to do next that Thoreau’s exhortation has served as a compass. Thoreau’s statement also embodies much of what a Financial Plan means to me.  Although it is… Read More

This past weekend, my husband and I were invited to a benefit for The Hanna Boy’s Center, a school and home for boys from troubled situations.  Over the past year, we’ve been charmed, moved and humbled by the boys we’ve gotten to know.  We’ve come to know several kind, smart young men who are grateful for their experience at Hanna and eager to lead productive lives and find ways to give back to others like themselves. Excited about attending the benefit under a star-lit Sonoma, CA sky, I decided I “needed” a new dress.   I showed my husband two options… Read More

I have some concerns about how we in the financial services industry promote “financial literacy month” every year in April. I agree strongly with the premise that everyone needs a basic understanding about personal finance, but when we talk about “literacy,” we are not always clear about the capability an individual needs to manage his or her finances successfully. Let’s say, for instance, that I have just completed my education or training, and I am entering the workforce fulltime. I understand in principle how markets work. I know what a Mutual Fund is. I understand that my company offers a… Read More

We talk a lot at NestWise about Financial Planning for the middle class.  There are a lot of Financial Planning options out there.  But not all are uniquely designed to address the needs of the middle class.  What is it that makes a NestWise Plan a choice to consider for many middle class households?   These three things: 1) a NestWise Plan starts with insuring that you have your financial foundation in place 2) a NestWise Plan looks at risk capacity as well as your personal tolerance for risk and distinguishes between essential and discretionary goals 3) a NestWise Plan comes with… Read More

Many of the people who have been the most successful at building a retirement nest egg will tell you it’s a function of two decisions: saving early and as much as they could afford. This is no isolated problem, either, as reports of average 401(k) amounts and other savings by American citizens can attest. A recent survey* found that only 35% of respondents had an emergency fund that could cover three to six months of expenses. As a result, a move to boost your savings is rarely one that you’ll regret. One of the easier ways to do it is… Read More

  April means the arrival of spring flowers, warmer temperatures, and other great things. And around here, that includes Financial Literacy Month. It’s a time to when all kinds of organizations issue new information and resources that can help you get smarter about money. And that’s a good start — knowledge that leads to consistent action is a powerful, effective way to make meaningful, lasting  changes in your financial life. But, even with the best resources, making those changes can still be challenging. As someone who has studied behavioral economics, and observed and coached thousands of people in the process… Read More

“Are we teaching our children the right things about money?” “Are we preparing them for the responsibility they will have as adults? These questions come up a lot. On Twitter recently I saw a request for books to get 11 year old boys interested in investing. I remember reading 100 Pounds of Popcorn, by Hazel Krantz when I was in 4th grade. I loved it. In the story a young boy finds a 100 Pound Bag of Popcorn that has fallen off a truck that drove through town. There is no way to return the bag so the popcorn is… Read More

Making yourself see how you spend your money can be a great start to making more informed choices that are in line with your short- and long-term financial goals. But of course, that exercise can only go so far. It can be just as important for you to give your spending habits the critical eye. Most people naturally want the freedom to buy what they want, or to be able to indulge now and then – and ideally, a realistic personal budget will reflect those priorities. But you may need to ask yourself: Are you putting any of your financial… Read More