Wisdom on Wealth

Q: I am very embarrassed by my financial situation. I know I need help, but I’m just too humiliated to let anyone else see the mess I’ve made. Every time I pick up the phone to call someone I hang up. What do you suggest?

A: I love your honesty.

If you’ve never seen the 2011 film We Bought a Zoo, you’re in for a treat when you do. Matt Damon plays a young widowed father of two. In one scene, he is giving his young son advice on the utterly confusing and intimidating topic of females.

Q: I own land that I used to farm, as well as a business that I’m in with a couple of my children. Since my wife died, our family has been kind of fractured. Long story. I’m worried that when I make out a will, I’m going to make somebody mad and I don’t want to make anyone madder than they already are. What do you suggest?

A: I recently played my first round of golf. Ever.

I texted a friend whom I knew would be interested (actually, I figured he’d double over in laughter). He texted me back this sage advice, “Don’t despair if you are playing horribly. It’s always possible to play worse.”

Q: I have saved up enough money so that I think it’s time for me to invest some of it. I have some friends who make all their investing choices on their own. Others use financial advisors whom I assume they pay somehow. My do-it-yourself friends tell me that using an advisor is dumb because they cost too much. My other friends seem to not mind paying for the advice they get. Who’s right and how do I decide which is best?

A: We never get as far away from junior high as we think we do.

Q: What does it mean to be financially healthy in the real world? What would that look like for an average working person?

A: Remember when jogging was born?

OK, maybe not born, but at least made popular. In the late 1970s two things converged to explode the phenomenon of human beings trudging up and down neighborhood streets in search for the fountain of youth.

Q: How does a person develop discipline when they have never had it before? This applies to many areas of my life, but money is a big one. I’ve just never been disciplined enough to make much progress financially. To be honest I wish I could just wave a magic wand and have it done for me.

A: There are no short cuts or magic tricks that will make you instantly disciplined.

Q: Our grandchildren live in another state and we are seriously considering moving to be closer to them. Work is stressful and I’d love to be done with it sooner than later. How do we know if we are ready to retire early?

A: Today’s stress always feels heavier than yesterday’s worries or tomorrow’s woes.