Entrepreneurs are the heroes of tomorrow’s businesses
Entrepreneurs are today’s American heroes, and that’s a good thing. But too many people have an unrealistic picture in their heads of how things are going to go. They think that being a successful...
View ArticleTake a minute now to write down your 10-year financial goal
As the clock struck midnight on Dec. 31, the decade that was the 2010s officially ended. Which is fine for me because I never felt quite comfortable referring to that decade as the teens, never mind...
View ArticleBusinesses should be aware of tax law changes for 2020
Each year brings new changes to our Byzantine tax system, and 2020 is no different, with recent federal and state laws making the tax landscape more challenging than ever for small businesses and...
View ArticleIn football and investing, conventional wisdom is ‘just OK’
Whether you’re an NFL team trying to make it to the Super Bowl or an investor who wants to generate better-than-average long-term results, your odds of success are greater if you ignore conventional...
View ArticleSteps to establish financial security in 2020
It’s hard to believe we’re already in 2020. But rather than lament the passing of time, I like to think of a new decade as a time of renewal — a chance to look at what you’ve accomplished and what you...
View ArticleUS does not have path for individuals ‘to be forgotten’
Q I am a 40-something professional with a somewhat unusual legal problem. While I am well-established in my profession, I moonlight as a semi-professional musician in my area, performing at local...
View ArticleGet organized now to help loved ones with finances later
I don’t know how many scenes are left and what plot twists are ahead, but I do know how this movie ends. Acknowledging my eventual expiration isn’t macabre; it’s pragmatic. This acceptance impacts my...
View ArticleEssential skills every small business owner should develop
Having worked with over 20,000 small businesses and their owners over the course of the past 40 years, I see patterns that many other people aren’t privileged to see. I see patterns in the businesses...
View ArticleUse these easy formulas to assess whether you’re ‘on track’
I am often asked, “Am I on track?” Every situation is different, but some objective measures can be used as a snapshot and tracked over time to measure progress. Finding the right balance between...
View ArticleAre you ready for a financially healthy 2020?
At the beginning of each new year, I’m filled with a sense of new direction. At the same time, I like to look back at the previous year, evaluate what worked and make a fresh commitment to keep going...
View ArticleHow to harness the great motivator for your business success
January is over, and I’m willing to bet most of you have already given up on one or more of your New Year’s resolutions. The key to success with any resolution — personal, business or otherwise — is...
View ArticleYour portfolio might not be as diversified as you think
Dear Pete, Can you settle a debate I’ve been having with my co-worker the last five years? He claims my 401(k) should be more diversified than the S&P 500, while I believe the S&P 500 is...
View Article10 questions every couple should ask before retiring
I often write about the financial conversations couples should have before they decide to spend their lives together. To me, getting to know each other financially is an important part of any...
View ArticleCoronavirus-fueled volatility your friend, not enemy
Our primal “fight or flight” instinct was vital for cavemen to survive, but investors must resist their natural urge to panic when stocks hit an inevitable rough patch. Whether caused by fears related...
View ArticleYou trust your partner with your love. What about your money?
I recently heard an interesting story about a man who expressed his love for his wife in an unusual way. It wasn’t with an extravagant gift or a surprise trip to a tropical island. No, he wrote her a...
View ArticleFool Me Once, Shame on You. Fool Me Twice …
Q A couple of years ago, I was employed as the marketing director for a small, family-owned business. For several years in a row, this company saw huge increases in annual sales as a result of my...
View ArticleFinancial literacy: A powerful tool for social justice
Today I’m departing from my usual format to share with you my greatest wish for the new year and the next decade: that as a nation, we will come together to unleash the tremendous power of financial...
View ArticleThink twice about offering to pay for college
Dear Pete: My 42-year-old son and 41-year-old daughter-in-law aren’t great with money. Frankly, I assume it’s because she is the more dominant personality, and her parents don’t appear to have much...
View ArticleShould you be a guinea pig for a new franchise?
Q I was downsized from a corporate job about a year ago. I have never run my own business before, but I am realizing now there is no future for me in corporate America (I am over 50 years of age), so...
View ArticleAccumulation is easy, but distribution is hard
I participate in a small strategy group that has monthly conference calls. This month’s focus was managing income distributions during a prolonged market downturn. The accumulation phase of retirement...
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