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Healthy Conversations

Healthy Conversations

An overwhelming majority (95% according to the Intra-Family Generational Finance Study by Fidelity Investments) of adult children and their parents agree it’s a good idea to have open conversations about the future. However, there seems to be little consensus beyond that. In fact, the study indicates that family members are more comfortable speaking about their financial situations to third-party financial professionals than they are to each other.
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Balance

Balance

The word “balance” is a mainstay in the language of finance. There are balances of trade, balance sheets, bank balances and the Common Law of Business Balance, attributed to John Ruskin in the 19th century, which “prohibits paying a little and getting a lot.” (Or, in other words, you get what you pay for.) There is something to be said for that. I’m not talking about comparison shopping like looking for the best price for a particular TV or microwave. What I mean is that not all goods and services are created equal and their values (and costs) vary accordingly.
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Fresh Perspective

Fresh Perspective

Over the last five years, it feels like everything financial has changed. Our roadmaps have turned into something unrecognizable and many of the fundamentals previous generations had come to take for granted have changed. Probably forever. This certainly is the case when we have to look at our investment strategies. Previously, the conventional wisdom for long-term investors was “60/40”: 60% of investments in stock or equities, and 40% in bonds. It was an easy, sound investing philosophy. But continuing low interest rates are having an effect on bonds and that “60/40” approach is being called into question.
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More Financial Lessons from Downton Abbey

More Financial Lessons from Downton Abbey

In an earlier post I wrote about a recent Wall Street Journal article describing the financial lessons that can be learned through the popular PBS series Downton Abbey. That got me to thinking: the examples mentioned in the article all related to the series’ “upstairs” world. What about Downton’s “downstairs” contingent? If you’re a fan of the series, you’ll recall that there’s no shortage of financial lessons to be learned – some of them harsh – for characters at the other end of the series’ economic spectrum.
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Making It Work – Part 2

Making It Work – Part 2

No matter your age, your reasons for going out on your own or the type of business you’re starting, being resilient is key. Whether it’s because you’ve been laid off or you need more flexibility to care for a family member, if you are thinking about starting a business, the ability to right yourself after an upheaval is required. The successful entrepreneur is not going to be thrown off course by the first (or second, or third) crisis that comes down the road.
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