Rob Carrigg, Jr.

DURING A RECENT vacation, my son Max and I played Monopoly. I was amazed at all the personal finance lessons you can learn from the game—one that was first produced in 1935.
We played by the actual Monopoly rules. That includes not getting money just by landing on Free Parking. It also means not auctioning off properties if the person landing on them decides not to pay the list price.

MANY TIMES IN MY career, I’ve heard people say, “The stock market is just one big casino” or “Buying stocks is just like gambling.” Yes, there are similarities between investing and gambling. But when done properly, long-run investing shouldn’t resemble gambling in any real way.
Let’s start with the similarities. Day-traders—who buy individual stocks in an attempt to make a quick profit—are similar to gamblers at the roulette table. Both are hoping for a lucky play.

I’VE WORKED AS a financial advisor for 25 years and yet I’m still struck by how many people fall for one of the oldest cons in the book: keeping up with the Joneses.
Being ostentatious is no longer seen as déclassé, at least in America. Instead, it’s a requirement for reality TV, the currency of Instagram Influencers and a proxy for achievement on Facebook. Why be rich when we can appear rich?
We’re hardwired to act this way.