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Like economics, financial planning, or psychology, there is a science to communication. Research-backed methods exist for sharing information with others, particularly in times of chaos or a crisis. As many of you probably have experienced during preceding days, there are excellent examples of letters, email messages, and social media posts that are both informative and comforting. See great examples from Radix Financial or this local business message to customers, Tap & Six. Likewise, there have …
If you have ever taken a quiz entitled “How to tell if your boyfriend is cheating on you” or “Answer these five questions to learn to see if you’re a good friend,” then you’ve probably taken something akin to what we call a “Cosmo test.” Your answers to just a few questions will result in a detailed analysis of your personality, along with a lengthy set of advice on improving your life (or a …
While visiting Santa Cruz last year in August at the FPA Far West Roundup, I stepped into a surf shop on the wharf and saw a magic 8-ball for sale (I’m still not exactly certain what magic 8-balls and surfing have to do with each other). I hadn’t seen one of these things in quite some time, and it reminded me that, much like many of the other toys and games our children play with, …
What does it take to be a great investor today? If you consider yourself the manager of your household’s finances, or if you’re a financial advisor that believes behavioral coaching and guidance can help clients be financially successful, then you will want to take a look at our latest white paper, Understanding Great Investors: The Competencies of Investing Success. The white paper, which shares the findings from one of our latest studies on investors in the …
Our data consistently tells us that in the arena of personal-finance outcomes, behaviors matter. They matter a lot. So we thought it was time to try and quantify—from a dollars and net-worth perspective—exactly how much is “a lot.” We’ll consider savings rate as a critical behavior. We have talked here before about the difference in savings rates between “high-potential” and “low-potential” individuals, as measured by scores on the DataPoints Building Wealth assessment. As a quick …