Your Budget = Your Priorities

Be honest: what do you think when you hear the word budget? If you are like most people, maybe you think about spreadsheets and restrictions and self-denial and past failed attempts at reigning in your Amazon purchases.

First, let's call it a "spending plan", not a budget. Semantics, I know, but putting it in terms of spending puts you in the right mindset.

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RIP Jack Bogle

Last week the world lost one of its great thought-leaders. John "Jack" Clifton Bogle, founder of Vanguard and highly influential crusader for investors’ rights, died in Bryn Mawr, PA, on January 16th at the age of 89.

There have been no shortage of accolades and amazing quotes about the legacy of Jack Bogle from the heavy hitters in the finance industry. One of my favorites is by Warren Buffet:

“Jack Bogle has done probably more for the American investor than any man in the country.”– Warren Buffett

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The Next Millionaire Next Door

Some of you may remember the book by Thomas Stanley and William Danko called “The Millionaire Next Door”. It was released in 1996 and quickly became a New York Times Bestseller. I was newly married at the time and already had a strong interest in personal finance topics thanks to my dad. I read the book and it had a big impact on my life. And if you liked the book back then, I've got great news! They just released the next iteration of the book, called The Next Millionaire Next Door.

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Investing Is More Than Just Picking Investments

A common theme I discuss with my clients is the fact that there's a lot more to financial planning and investing than just picking the right investments. Further, investing itself is not even primarily based on the study of finance. More than anything, investing is about how people behave with money. And guess what? It turns out that teaching good investor behavior is really hard to do! It's not as simple as pointing to a few clever equations, memorizing a formula or building an Excel spreadsheet. It's not about what you know -- it's about your actions and behaviors.

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