The News Star columns

The following column was published in The News Star on Saturday, April 26, 2014.

Question: With my retirement coming up I did what everyone says to do - I interviewed three advisors that I'd either read about or heard about from friends. My problem is that they all tell a different story. One guy is a super big believer in the stock market and says everything will go up in the end. Another guy tells all kinds of scary stories about losing all your money in the stock market. And another seems kind of in between. How do I pick?

Answer: So you've interviewed three advisors - good. Now, interview yourself.

The following column was published in The News Star on Monday, April 21, 2014.

Question: My wife and I work together and she’s great at so many things. But when it comes to money, she can be so emotional. About everything really, not just money. How can I get her to see that?

Answer: See what? That she’s emotional?

The following column was published in The News Star on Saturday, April 12, 2014.

Question: I’ve worked for the same company for most of my career. Now they are offering me a retirement pension check or a lump sum of money instead. Which is usually better?

Answer: The question you need to ask is, “Which option is better for me?”

The following column was published in The News Star on Saturday, April 5, 2014.

Question: I’ve been hearing advertisements on the radio for annuities for retirement. What are these and do I need one?

Answer: Annuities may be a useful tool in your retirement income toolkit. But they are no substitute for a plan.

The following column was published in The News Star on Saturday, March 29, 2014.

Question: My husband and I were talking about the economy and the business environment and we were both wondering when things would ever get back to normal again. Then we laughed, because we can’t even remember what normal is supposed to be like. We just know this isn’t it! What do you think?

Answer: Isn’t it funny - things are always getting back to normal. But they are rarely normal. What’s that all about?

The following column was published in The News Star on Saturday, March 22, 2014.

Question: I know everybody’s talking happy talk about how good the economy is getting, but I am still very much afraid we’re not out of the woods yet. Makes me afraid to take chances with my money. I’d rather put it in land. I know farm land prices are up, but at least you’ve got something. 

Answer: Funny thing about fear – it often tricks us into exchanging one perceived problem for a much larger one.

The following column was published in The News Star on Saturday, March 15, 2014.

Question: My wife and I are planning to build a house soon. It will be a luxury home and fortunately we can afford it. We are at odds over what kind of mortgage to get. She wants a shorter mortgage because she doesn’t like being in debt. I lean towards a longer mortgage to hang on to my money longer. Who’s right? 

Answer: Economically, you are. Emotionally, she is.

The following column was published in The News Star on Saturday, March 8, 2014.

Question: I have four siblings. Most of us turned out fine, but one brother is just stuck. He basically has no maturity in life and is constantly making poor choices, financial and otherwise, which hurt him and everyone around him. I don’t want any of my kids to turn out like him, but I’m not sure how to prevent it.

Answer: Based on what I’ve seen so far, the only perfect kids are grandkids. And I’m pretty sure no one has come up with a failsafe plan for how to raise those.

The following column was published in The News Star on Saturday, March 1, 2014.

Question: I own a successful small business. One day I hope to sell it, but it is rather specialized and the market for a business like mine is pretty small. None of my employees are capable of running the business. What would you suggest?

Answer: Last week I suggested that no small business can be really successful until it is ready to be sold.

The following column was published in The News Star on Saturday, Februrary 22, 2014.

Question: I own a successful small business. One day I hope to sell it, but it is rather specialized and the market for a business like mine is pretty small. None of my employees are capable of running the business. What would you suggest?

Answer: I suggest your business may not be as successful as you think it is.