When you are making a financial decision, do you intentionally weigh the potential risks and rewards? Is weighing that balance more of a rational or emotional process for you? In other words, do you tend to rely more on facts or on feelings? For example, when Karla got a promotion at the architectural firm where she is employed, she gave serious consideration to buying a new car. She thought about the practical and emotional rewards of having a new car such as: 1) having a dependable means … [Read more...]
Defining “True Wealth”
By “how much is enough?,” I mean the amount that will allow you to stop driving so hard professionally should you choose to do so. I mean the amount that will allow you to feel safe, the amount that will compensate for risking hard-won relationships, the amount that will affirm your feeling good, smart, successful, accomplished, in control. Pamela York Klainer How Much is Enough? How much is enough? What does this mean to you? As author Pamela York Klainer explains, “The question … [Read more...]
What is Your “Philosophy” on Insurance?
Most people consider insurance an important part of their financial plan. But do you also have an insurance philosophy that you use to determine exactly how much coverage you need? Forming an insurance philosophy requires you to think about the people and possessions that matter the most to you. How do you want to protect them? What are the risks involved? Are monthly premiums or out-of-pocket payments more in line with your philosophy and your financial means? Here are four important … [Read more...]
