(From Dan Solin's blog, Huffington Post, March 9, 2010)
Here's a question I have always found vexing:
Why do so many intelligent people act so irrationally with their investments? It turns out that we may be programmed to do so.
According to an article in the Wall Street Journal, an MRI of the brains of investors chasing stock returns is the same as those anticipating a chocolate truffle, sex or (for drug addicts) cocaine!
Researchers in neuroeconomics have found that our brains are programmed to look for patterns. When we find one (or even the prospect of one) the neurochemical dopamine kicks in with the equivalent of a shot of heroin to the brain. We are almost compelled to take risks, even though a dispassionate view of the data would indicate that we are investing irrationally.
This process also affects investor behavior in uncertain times, like those we are currently experiencing. Even a hint of bad news will cause our brains generate a sense of "anxiety and dread" driving investors to overreact.
For more studies about these issues, I highly recommend Jason's Zweig's excellent book, Your Money and Your Brain: How the New Science of Neuroeconomics Can Help Make You Rich.
Brokers and the financial media understand this process. How else can you explain the popularity of live TV shots showing the frenetic activity on the floor of the NYSE, when this background is irrelevant to most investors? Or the high testosterone personalities of financial pundits and many brokers, who breathlessly report on financial news, or call to give investors the latest "hot tip" on the short term prospects of a stock or the next top performing mutual fund?
Those who study finance regard these activities as counter-productive and calculated to enhance the wealth of the securities industry and deplete the assets of investors. Most investors need no reminder that this is precisely the way the system has been working -- and most likely will continue to do so in the future.
Perhaps investors need the equivalent of drug rehabilitation to reprogram their brains so they can rationally assess the overwhelming data indicating that reliance on the traditional securities industry for investment advice is no different than relying on a drug dealer for advice about kicking a drug habit.
The views set forth in this blog are the opinions of the author alone and may not represent the views of any firm or entity with whom he is affiliated. The data, information, and content on this blog are for information, education, and non-commercial purposes only. Returns from index funds do not represent the performance of any investment advisory firm. The information on this blog does not involve the rendering of personalized investment advice and is limited to the dissemination of opinions on investing. No reader should construe these opinions as an offer of advisory services. Readers who require investment advice should retain the services of a competent investment professional. The information on this blog is not an offer to buy or sell, or a solicitation of any offer to buy or sell any securities or class of securities mentioned herein. Furthermore, the information on this blog should not be construed as an offer of advisory services. Please note that the author does not recommend specific securities nor is he responsible for comments made by persons posting on this blog.
Monday, March 15, 2010
Monday, March 8, 2010
What is Your Credit Grade?
With all of the changes going on in the credit markets, your credit score is more important than ever. Your score does not just affect your application for a mortgage or car loan, but can also be in a factor for things like your cell phone service and auto and homeowner insurance premiums.
We have been encouraging our clients to check their scores at least annually through www.annualcreditreport.com. This site will give you access each year to a free credit report through the three nationwide consumer credit reporting companies – Experian, TransUnion, and Equifax. You also have the option of paying a minimal fee to check your score through the site.
I recently discovered another great tool that allows you to quickly and easily get a feel for your score. It’s the website www.credit.com. After you enter your name, address and social security number, you are asked to verify the monthly payment of one of your outstanding debts. Within a few minutes you will have a very easy to read report card with a letter grade in each of the areas (payment history, debt usage, credit age, account mix, and inquiries) in which your credit score is calculated as well as an overall grade. There are action steps you can take in each area to improve your grade. When you use this service it is considered a “soft” inquiry and does not affect your score.
One thing I really like about this website is it also gives you an estimate of your score with several credit rating agencies and your approximate FICO score – all for free. If you want the exact number, you can always buy your score for $15 at www.myfico.com.
With these tools, it is easy to keep tabs on your credit and make sure you have not become a victim of identity theft. Every 4 months I use www.annualcreditreport.com to browse my outstanding debt and will now check www.credit.com at least annually or prior to applying for new credit to make sure I have an A on my report card.
Chris Carleton, CFP
clcarleton@taaginc.com
www.taaginc.com
We have been encouraging our clients to check their scores at least annually through www.annualcreditreport.com. This site will give you access each year to a free credit report through the three nationwide consumer credit reporting companies – Experian, TransUnion, and Equifax. You also have the option of paying a minimal fee to check your score through the site.
I recently discovered another great tool that allows you to quickly and easily get a feel for your score. It’s the website www.credit.com. After you enter your name, address and social security number, you are asked to verify the monthly payment of one of your outstanding debts. Within a few minutes you will have a very easy to read report card with a letter grade in each of the areas (payment history, debt usage, credit age, account mix, and inquiries) in which your credit score is calculated as well as an overall grade. There are action steps you can take in each area to improve your grade. When you use this service it is considered a “soft” inquiry and does not affect your score.
One thing I really like about this website is it also gives you an estimate of your score with several credit rating agencies and your approximate FICO score – all for free. If you want the exact number, you can always buy your score for $15 at www.myfico.com.
With these tools, it is easy to keep tabs on your credit and make sure you have not become a victim of identity theft. Every 4 months I use www.annualcreditreport.com to browse my outstanding debt and will now check www.credit.com at least annually or prior to applying for new credit to make sure I have an A on my report card.
Chris Carleton, CFP
clcarleton@taaginc.com
www.taaginc.com
Monday, March 1, 2010
Time and Technology
On Wednesday morning, February 24th at 12:35am, I became a grandmother. Ezra Matthew was born after 16 hours of labor and some tense moments due to his position and reluctance to leave such a safe, secure place. Millions of children are born every day, and many have written about the life changing effect it has on them far more poetically than I ever could, so I will leave that to them. Instead, I want to share how much information technology has both improved and intruded on such an important life experience.
When Ezra’s mother was born, her father and I used the Lamaze method of childbirth, otherwise known as toughing it out while you use breathing techniques to distract your mind from the pain. Only 20% of today’s mothers still follow this method, while 80% opt for an epidural, which essentially makes the process pain free while allowing the mother to remain alert and involved. During Ezra’s entire labor and delivery, every vital sign of both mother and baby were recorded on a bedside computer system the hospital had installed only a few days before. The hallways were swarming with tech people with yellow t-shirts designating them as software experts, and they were called into rooms to help as the nurses entered data and checked outputs. Flat screen monitors in the hallway outside the room indicated what rooms on the floor were occupied, and the status of the occupants. All this and many more obvious technical advances made us feel things were under control.
On the other hand, technology also added to the stress of the situation. Our daughter is fortunate to have a large circle of loving family and friends to support her and husband. Unfortunately, that same circle was closing in on them from Tuesday morning, when they checked into the hospital at 8:00am until Wednesday morning at 2:30am when they brought the grandparents in to meet Ezra for the first time. With texting, Facebook, and cell phones, everyone has become accustomed to getting information instantaneously, and apparently having a baby is no exception to the rule. Initially, our son-in-law had his Blackberry on so work and family members could reach him in case of an emergency. It was amazing how many text messages and phone calls he received in the short period of time before he turned it off. Family members who came by during the evening texted constant updates back to family at home, and questioned nurses for updates until they were chased out of the hallway and into the official waiting area. Nature was working on its own schedule, and we simply had to wait.
I know it’s odd, but the strong sense of urgency I felt in the people surrounding the event reminded me of the urgency I see in society’s approach to investing these days. Hurry up and do something, tell me something – it wasn’t there over 20 years ago when we received annual investment reports and CNBC was nonexistent. I don’t believe that getting more information, faster, has made us better off in our financial lives either. We have to set a plan, wait, and let the markets work.
When both sets of grandparents met Ezra for the first time Wednesday morning, pictures were taken on cell phones and digital cameras, and transmitted instantly to people anxiously awaiting the news. When we got home at 4am, we posted pictures on our family Facebook account, and immediately got a response from our friend in Ireland congratulating us. When Katie was born we would have had to send her a birth announcement by airmail. What a difference! I appreciate all the positive changes technology has brought to us, and I am not making a case for the “good old days,” but I do believe the immediacy of information that technology has brought has made us less patient in all areas of our lives, and we need to be aware of it and how it colors our thinking and actions.
On that note, it’s Sunday afternoon, so I’m turning off my Blackberry and computer to hold my grandson while time and technology passes me by for a few hours.
Jeannette Jones, CPA, CFP®
jjones@taaginc.com
www.taaginc.com
When Ezra’s mother was born, her father and I used the Lamaze method of childbirth, otherwise known as toughing it out while you use breathing techniques to distract your mind from the pain. Only 20% of today’s mothers still follow this method, while 80% opt for an epidural, which essentially makes the process pain free while allowing the mother to remain alert and involved. During Ezra’s entire labor and delivery, every vital sign of both mother and baby were recorded on a bedside computer system the hospital had installed only a few days before. The hallways were swarming with tech people with yellow t-shirts designating them as software experts, and they were called into rooms to help as the nurses entered data and checked outputs. Flat screen monitors in the hallway outside the room indicated what rooms on the floor were occupied, and the status of the occupants. All this and many more obvious technical advances made us feel things were under control.
On the other hand, technology also added to the stress of the situation. Our daughter is fortunate to have a large circle of loving family and friends to support her and husband. Unfortunately, that same circle was closing in on them from Tuesday morning, when they checked into the hospital at 8:00am until Wednesday morning at 2:30am when they brought the grandparents in to meet Ezra for the first time. With texting, Facebook, and cell phones, everyone has become accustomed to getting information instantaneously, and apparently having a baby is no exception to the rule. Initially, our son-in-law had his Blackberry on so work and family members could reach him in case of an emergency. It was amazing how many text messages and phone calls he received in the short period of time before he turned it off. Family members who came by during the evening texted constant updates back to family at home, and questioned nurses for updates until they were chased out of the hallway and into the official waiting area. Nature was working on its own schedule, and we simply had to wait.
I know it’s odd, but the strong sense of urgency I felt in the people surrounding the event reminded me of the urgency I see in society’s approach to investing these days. Hurry up and do something, tell me something – it wasn’t there over 20 years ago when we received annual investment reports and CNBC was nonexistent. I don’t believe that getting more information, faster, has made us better off in our financial lives either. We have to set a plan, wait, and let the markets work.
When both sets of grandparents met Ezra for the first time Wednesday morning, pictures were taken on cell phones and digital cameras, and transmitted instantly to people anxiously awaiting the news. When we got home at 4am, we posted pictures on our family Facebook account, and immediately got a response from our friend in Ireland congratulating us. When Katie was born we would have had to send her a birth announcement by airmail. What a difference! I appreciate all the positive changes technology has brought to us, and I am not making a case for the “good old days,” but I do believe the immediacy of information that technology has brought has made us less patient in all areas of our lives, and we need to be aware of it and how it colors our thinking and actions.
On that note, it’s Sunday afternoon, so I’m turning off my Blackberry and computer to hold my grandson while time and technology passes me by for a few hours.
Jeannette Jones, CPA, CFP®
jjones@taaginc.com
www.taaginc.com
Monday, February 22, 2010
Never Fear
There is no doubt that the definition of retirement has been changing for years now. Longer life expectancies, increased costs for just about everything, and shrinking retirement benefits are just a few of the variables involved in retirement’s metamorphosis. The promise of ever-increasing demands for an ever-shrinking pool of resources is a cause for fear in many.
All too often, this fear causes people to approach retirement as if they are jumping off a cliff. They aren’t certain if they have saved enough. They look at their portfolios and hope that it will provide the life they envision. Failing that, they convince themselves that they will simply fit whatever income they earn year in and year out.
This fear, fear of the unknown, fear of doing without, fear of adhering to a budget for the first time is what drives this decision to not make decisions, or worse, to fall prey to any number of the slick sales approaches that inundate your mailbox and television daily, “guaranteeing” to make it a smooth ride.
As is true with just about everything else in life, the known is better than the unknown and life doesn’t come with guarantees. Sitting down and mapping out your goals for life after retirement, determining the costs involved and how your portfolio can help you accomplish those goals is the first step. Working with an independent advisor held to a fiduciary standard, you can learn whether or not your goals are attainable and what steps you might take to increase your chances of success.
The earlier you begin to plan, the better. For example, you can test drive your retirement budget by adhering to it for a year or two before you retire. This will allow you to see any cracks in the foundation and make adjustments as needed. If you’ve put off the planning or are already retired, it’s still a good idea to make sure you’re on track. Don’t continue to procrastinate out of guilt for putting it off, just make today the day you take action.
Another term that grabbed some headlines after a study done by Vanguard in early 2007 is downshifting. This involves working with your employer to adjust your current position to part-time, or by finding other part-time work that interests you before full-fledged retirement. This was a practice growing in popularity near the market’s peak and should be considered even more seriously in 2010. It is both an attractive way to make this transition while still earning some income and a way to begin to emotionally make the dramatic shift from a bustling professional life to one more focused on your personal goals.
The bottom line is that the security provided by having a solid plan in place cannot be overstated. It is an invaluable tool to maintain solid financial footing, and your sanity, as you wake up each day without the burden or fear of the unknown. Imagine being able to turn off the constant barrage of information on the “crisis du jour” knowing that, regardless of the short term outcome, you have a plan that will allow your money to outlive you, not the other way around.
By Chip Workman, CFP®
cworkman@taaginc.com
www.taaginc.com
Friday, February 12, 2010
321 Million and Counting...
More than 300 million people have a Facebook profile. My intention with this blog is to address those of you who have made a conscious decision to stay away. Though your ranks dwindle daily, there are many of you. This is understandable – a social movement that became so popular so fast must engender skepticism.
One of the biggest fears that I hear is the concern about privacy. Facebook has many privacy settings that allow you to set up how much or how little people can see about you and your profile. You choose what information to share with others. Don’t want someone who isn’t your ‘friend’ to be able to see your photos? No problem. Don’t want your nosy neighbor to be able to see your status updates? Done.
Facebook has recently added even more privacy settings so that you have control over virtually any privacy matter you can think of. You can set it up so that your former colleagues see one version of your profile, while your family sees another. Choosing your privacy settings should be your first move after creating a Facebook profile.
Another common reason for not joining Facebook is that you don’t want people to know your business. That’s fair! You can join Facebook and use it only as a tool to see information from others. You don’t have to EVER post a status update if you don’t want to. You don’t HAVE to post photos of yourself. Heck, you don’t even HAVE to go out searching for friends. They will naturally find and request you through people that you’ve allowed to be your friends.
Some people think that by joining Facebook, they are signing up for a huge time commitment. Not so. You can log-in only once a month just to approve/reject friends if you want. Yes, it is true that over half of all Facebook users log on daily, but that’s not because it’s a requirement – it’s because it’s fun.
(By the way, it’s ok to not accept friend requests. The person is not notified that you did not accept. Don’t accept requests from people that you don’t know, and don’t think twice about removing a friend if they have made you regret your acceptance).
Think you’re too old for Facebook? That’s ridiculous! Perhaps you didn’t know that the fastest growing demographic of Facebook users is people over 50. Facebook is a wonderful resource for families who don’t all live in the same area. If your kids live in a different state, you will be able to see photos that they post and their status updates. In time, it will make it feel like you’re not so far from each other. That’s the whole point of Facebook, to make people feel more connected.
I could write a very long article about all the reasons that I feel you should be on Facebook, but that’s for another day. What I want to know is, what are your personal reasons for holding out on Facebook? I’ve tried to hit the big ones here, but it’s different for different people.
Please leave a comment, start a conversation.
By Amanda Bashore, CFP®
arbashore@taaginc.com
www.taaginc.com
One of the biggest fears that I hear is the concern about privacy. Facebook has many privacy settings that allow you to set up how much or how little people can see about you and your profile. You choose what information to share with others. Don’t want someone who isn’t your ‘friend’ to be able to see your photos? No problem. Don’t want your nosy neighbor to be able to see your status updates? Done.
Facebook has recently added even more privacy settings so that you have control over virtually any privacy matter you can think of. You can set it up so that your former colleagues see one version of your profile, while your family sees another. Choosing your privacy settings should be your first move after creating a Facebook profile.
Another common reason for not joining Facebook is that you don’t want people to know your business. That’s fair! You can join Facebook and use it only as a tool to see information from others. You don’t have to EVER post a status update if you don’t want to. You don’t HAVE to post photos of yourself. Heck, you don’t even HAVE to go out searching for friends. They will naturally find and request you through people that you’ve allowed to be your friends.
Some people think that by joining Facebook, they are signing up for a huge time commitment. Not so. You can log-in only once a month just to approve/reject friends if you want. Yes, it is true that over half of all Facebook users log on daily, but that’s not because it’s a requirement – it’s because it’s fun.
(By the way, it’s ok to not accept friend requests. The person is not notified that you did not accept. Don’t accept requests from people that you don’t know, and don’t think twice about removing a friend if they have made you regret your acceptance).
Think you’re too old for Facebook? That’s ridiculous! Perhaps you didn’t know that the fastest growing demographic of Facebook users is people over 50. Facebook is a wonderful resource for families who don’t all live in the same area. If your kids live in a different state, you will be able to see photos that they post and their status updates. In time, it will make it feel like you’re not so far from each other. That’s the whole point of Facebook, to make people feel more connected.
I could write a very long article about all the reasons that I feel you should be on Facebook, but that’s for another day. What I want to know is, what are your personal reasons for holding out on Facebook? I’ve tried to hit the big ones here, but it’s different for different people.
Please leave a comment, start a conversation.
By Amanda Bashore, CFP®
arbashore@taaginc.com
www.taaginc.com
Monday, February 8, 2010
Eliminating Financial Clutter
As we draw closer to the deadline for institutions to furnish your annual tax statements, you may be wondering how long you need to keep tax and other financial documentation. Gathering your income tax data is a good time to clean out your filing cabinets and shred your utility bills from 1982 and brokerage statements from 1997.
Tax returns and related documents should be kept for seven years. If the return details a potentially taxable investment, keep it as long as you own the asset plus seven years. I recommend clients use the black binder we give you when you become a client of TAAG to organize your monthly brokerage statements, trade confirmations, and other investment related documentation.
You can shred buy and sell confirmations after you have compared them to your monthly statement. Keep your monthly statements until December and put your December statement in the file with your tax return for that year. If you ever need an historical brokerage statement, we can provide it to you. Most financial institutions are required to keep your statements for seven years. TAAG will track the cost basis for any investment we make in the taxable accounts we manage. Each January we will provide you with the realized gain and loss information you will need for taxes.
You can also use this process with your ATM receipts, deposit slips, and credit card receipts not needed for taxes or a warranty – shred them after comparing to your monthly statement. Canceled checks can be disposed of after a year if not used for a tax related purchase or deduction and your monthly bank statements, after seven years.
Bills can be tossed after six months and monthly credit card statements after a year if not being used for tax purposes.
Records to retain for the longer term include the paperwork from your home purchase – mortgage application, appraisal, deed and your sales contract. You should keep these at least as long as you own your home, longer if you prefer. For tax purposes, make sure you keep records and receipts from any improvements you have made that may reduce your tax bill when the house is sold.
If you have updated your estate planning documents in the past year, make sure to dispose of the outdated versions of wills, powers of attorney or health care directives. If you have recently made changes, please let us know if any of the documents we have in your file have been replaced or accounts should be re-titled.
There are a few documents you need to keep for life, including birth and death certificates, marriage licenses, adoption papers, and divorce decrees. It is best to keep these in a safe deposit box or fireproof safe in your home.
If you set up a system to purge unnecessary records on a regular basis, assembling the needed documentation at tax time will not feel like a chore.
By Chris Carleton, CFP
clcarleton@taaginc.com
www.taaginc.com
Tax returns and related documents should be kept for seven years. If the return details a potentially taxable investment, keep it as long as you own the asset plus seven years. I recommend clients use the black binder we give you when you become a client of TAAG to organize your monthly brokerage statements, trade confirmations, and other investment related documentation.
You can shred buy and sell confirmations after you have compared them to your monthly statement. Keep your monthly statements until December and put your December statement in the file with your tax return for that year. If you ever need an historical brokerage statement, we can provide it to you. Most financial institutions are required to keep your statements for seven years. TAAG will track the cost basis for any investment we make in the taxable accounts we manage. Each January we will provide you with the realized gain and loss information you will need for taxes.
You can also use this process with your ATM receipts, deposit slips, and credit card receipts not needed for taxes or a warranty – shred them after comparing to your monthly statement. Canceled checks can be disposed of after a year if not used for a tax related purchase or deduction and your monthly bank statements, after seven years.
Bills can be tossed after six months and monthly credit card statements after a year if not being used for tax purposes.
Records to retain for the longer term include the paperwork from your home purchase – mortgage application, appraisal, deed and your sales contract. You should keep these at least as long as you own your home, longer if you prefer. For tax purposes, make sure you keep records and receipts from any improvements you have made that may reduce your tax bill when the house is sold.
If you have updated your estate planning documents in the past year, make sure to dispose of the outdated versions of wills, powers of attorney or health care directives. If you have recently made changes, please let us know if any of the documents we have in your file have been replaced or accounts should be re-titled.
There are a few documents you need to keep for life, including birth and death certificates, marriage licenses, adoption papers, and divorce decrees. It is best to keep these in a safe deposit box or fireproof safe in your home.
If you set up a system to purge unnecessary records on a regular basis, assembling the needed documentation at tax time will not feel like a chore.
By Chris Carleton, CFP
clcarleton@taaginc.com
www.taaginc.com
Monday, February 1, 2010
Enough
At a party given by a billionaire hedge fund manager, Kurt Vonnegut informed his friend, Joseph Heller, that their host made more money in a single day then Heller had earned from his popular novel, Catch-22, over his entire lifetime. Heller responded, “Yes, but I have something he will never have………enough.”
This story opens the introduction to the book, Enough, by John Bogel, the founder and former CEO of the Vanguard Mutual Fund Group. It’s my favorite part of the book, because it perfectly summarizes what I have observed as a financial advisor over my entire career.
When we were first married, and very poor, my husband would tease me when he could tell I was getting stressed over our finances with his quip, “Let’s go buy something to cheer ourselves up!” The sad thing is, many people use acquiring things as a way make themselves happy, and then are disappointed when the good feeling quickly wears off. Years go by and they are never quite able to accumulate what they need to stop working. Our consumer society has helped fuel the growth of manufacturing countries like China, increased the trade deficit, and caused storage facilities to pop up all over the suburbs to help alleviate the overcrowding in our homes.
If there is anything good to come from the Great Recession we have experienced over the last two years, I hope it encourages people to stop and give real thought to what ‘enough’ means to them.
I have been fortunate to observe and learn from the collective experiences of our clients over the past 21 years. People who are conscious spenders, those who know what they are acquiring and why, have been much more successful and able to handle the financial ups and downs that life has handed them. This doesn’t mean they live as paupers, they simply decide early on what is important to them and what isn’t, and then prioritize their spending to enhance the areas of their lives that have meaning to them, versus blindly upgrading and expanding their possessions. This accomplishes two things. The money they spend truly does enhance their lives and adds to their long-term happiness versus giving them a temporary boost, and they have funds left over to save so they don’t have to work until they die.
I realize I may sound like a critical parent lecturing on spending, but it’s much more than that. I’m suggesting that we, as a society, do a lot of mindless acquiring that is damaging to our financial security, and at the risk of sounding dramatic, to our souls. Unlike the bumper sticker, I do not believe that “He who dies with the most toys, wins.”
Jeannette A. Jones, CPA, CFP ®
jjones@taaginc.com
www.taaginc.com
This story opens the introduction to the book, Enough, by John Bogel, the founder and former CEO of the Vanguard Mutual Fund Group. It’s my favorite part of the book, because it perfectly summarizes what I have observed as a financial advisor over my entire career.
When we were first married, and very poor, my husband would tease me when he could tell I was getting stressed over our finances with his quip, “Let’s go buy something to cheer ourselves up!” The sad thing is, many people use acquiring things as a way make themselves happy, and then are disappointed when the good feeling quickly wears off. Years go by and they are never quite able to accumulate what they need to stop working. Our consumer society has helped fuel the growth of manufacturing countries like China, increased the trade deficit, and caused storage facilities to pop up all over the suburbs to help alleviate the overcrowding in our homes.
If there is anything good to come from the Great Recession we have experienced over the last two years, I hope it encourages people to stop and give real thought to what ‘enough’ means to them.
I have been fortunate to observe and learn from the collective experiences of our clients over the past 21 years. People who are conscious spenders, those who know what they are acquiring and why, have been much more successful and able to handle the financial ups and downs that life has handed them. This doesn’t mean they live as paupers, they simply decide early on what is important to them and what isn’t, and then prioritize their spending to enhance the areas of their lives that have meaning to them, versus blindly upgrading and expanding their possessions. This accomplishes two things. The money they spend truly does enhance their lives and adds to their long-term happiness versus giving them a temporary boost, and they have funds left over to save so they don’t have to work until they die.
I realize I may sound like a critical parent lecturing on spending, but it’s much more than that. I’m suggesting that we, as a society, do a lot of mindless acquiring that is damaging to our financial security, and at the risk of sounding dramatic, to our souls. Unlike the bumper sticker, I do not believe that “He who dies with the most toys, wins.”
Jeannette A. Jones, CPA, CFP ®
jjones@taaginc.com
www.taaginc.com
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