Articles

“Let every man divide his money into three parts, and invest a third in land, a third in business and a third let him keep by him in reserve.”

Most investors do not have a balanced portfolio. And by chasing investment returns they miss the easy money they could make from having a good asset allocation in the first place and rebalancing it periodically.

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My money has value because I have values my money helps me achieve. In this season of New Year’s resolutions and old year evaluations, treat your imagination with the question: What’s the money for?

As we kept our spending frugal we gained enough margin to start businesses and employ people. And as employees find their area of genius, they help others through their productive work.

Q: I would like to see a portion of my investments make a difference in the world. Can you suggest an approach to socially responsible investing?

I realized that compounding was an awesome concept. Today those initially piddling amounts have grown to provide an enviable cash flow that allows me to live well and give to worthy causes.

One of my favorite things I’ve been able to do with money was something I did after finishing school, moving, and getting my first full-time job. I was out on my own, and I wanted to do something extra once I was independent.

New rules go into effect January 1, 2012 which change the way you need to compute the cost basis for mutual funds if you use average cost accounting. We recommend you change the method you use to something which allows better tax management.

Financial resolutions usually don’t even last until the end of January. Making a permanent change in our behavior requires both time and a steely resolve. We can only develop financial character one action at a time. Here are seven practices to take you from pauper to prince or princess if you add one each year.

When our children were young, we decided to budget for memory making. Birthdays, holiday celebrations and family vacations became our primary memory making tools. We invested in birthdays.

What is my favorite thing I’ve done with money? Feed others.

I recently established the “Moving Forward On Your Own,” charitable gift fund, which benefits widows and their families.

Q: I received a letter from a nonprofit organization to which I regularly donate suggesting I may be eligible for state tax credits. Can you please explain what this means?

“One of the young men was leaving for Afghanistan the next day.”