WHEN I WAS A KID, my father would take me trout fishing at the many small lakes of California’s Eastern Sierra mountains. We’d usually “fish off the bottom” using a wad of floating bait attached to a weighted line. We’d then sit on a rock or in our little rowboat, and wait for a fish to come along and take the bait.

It seemed to me that some mornings we waited an awful long time.

WHEN I WAS A TEENAGER, I didn’t have a girlfriend. Now that I’m older, I realize not everyone had a girlfriend during their junior high or high school years. But at the time, I felt like I was the only one.
By this time, my father had passed away, so I only had my mother and older brother to confide in. My brother thought I might have a problem that prevented me from seeking female companionship,

BRITISH PHILOSOPHER G.K. Chesterton, in his 1929 book The Thing, introduced an idea now known as “Chesterton’s fence.”
Here’s how he explained it: Imagine two people walking along a road when they discover a fence blocking the way for no apparent reason. As Chesterton tells it, the first person looks at the fence and says, “I don’t see the use of this; let us clear it away.” But the second person disagrees: “If you don’t see the use of it,

IF 20-SOMETHINGS ASK me for financial advice, I suggest getting a job right out of college and saving like crazy, so they quickly get themselves on the fast track to financial freedom.
If 60-somethings ask me for advice, I advocate a phased retirement, seeking part-time work in their initial retirement years and, if they enjoy it, perhaps keeping it up into their 70s.
Yeah, I know, I sound like a real killjoy. My advice raises an obvious question: Is there ever a time when we should cut ourselves some slack and not have a job?

“YOU’LL STILL HAVE a retirement. It just won’t be the one you planned on.”
I’ve had to share this sobering assessment with many patients who were hoping to be rewarded for a lifetime of hard work and responsible saving, only to have those hopes dashed by an unforeseen health crisis. The culprit may be an external event like a disabling car accident or crippling fall, or an internal one like stage-four cancer or early onset dementia.

WHEN I WROTE ABOUT the Dow Jones Industrial Average reaching 35,000 in 2021, it’ll surprise few to hear that I—like the stock market—was euphoric. I’ll confess that in 2022, as stocks plunged, I felt silly for having written the article.
But here I am again, writing about the latest milestone for our old friend. After flirting with the number in mid-March, the Dow hit an intraday high topping 40,000 on May 16 for the first time in its history.

DEAR DAVID: LAST WEEK, you emailed me, “If you had $20,000, didn’t want to take risk and wanted the best return, how would you invest?” It’s a timeless issue, most likely first asked the day after money was invented.
You may be wondering why, besides asking where your money is currently invested, which turns out to be Bank of America at 0.2%, I haven’t asked about your risk tolerance, current financial situation and future financial needs.

I PASSED ON MANY activities when I was younger because I didn’t think I could do them. I simply didn’t have a great deal of self-confidence. It was only after I had some accomplishments to my name that my attitude changed and I became bolder in my efforts.
Along the way, a saying I came across helped me overcome my lack of self-confidence. It’s attributed to Henry Ford, the father of the first broadly affordable mass-produced American automobile,

PEOPLE DEBATE JUST about everything in personal finance. Among these arguments: how best to measure risk. Partisans on this topic tend to fall into one of two camps.
In the first group are those who believe risk can be distilled down to a single number. For these folks, the most common numerical yardstick is portfolio volatility—that is, the degree to which a portfolio’s price bounces around from year to year. Portfolios exhibiting lower volatility are deemed safer.

GRIEF IS A HEAVY cloak, but when it’s entangled with the financial fallout of a loved one passing without a will, the weight can become unbearable. This was my reality when my mother passed away unexpectedly. There were no clear instructions, no designated beneficiaries, just a confusing mess of assets and debts that threatened to drown me in a sea of paperwork and emotional turmoil.
The Intricacies of Intestacy. Since Mom didn’t have a will,

AS RETIREMENT approaches, one of the pivotal decisions many individuals face is when to start claiming Social Security benefits. It’s a choice that carries significant implications for financial security in the later stages of life. While the full retirement age (FRA) for Social Security benefits is typically between 66 and 67, many opt to claim benefits as early as age 62. This was the case for my husband and me, and our decision was guided by a blend of personal circumstances and financial considerations.

RETIREMENT. THE GOLDEN years. A time for travel, relaxation, and maybe a move to a quaint, low-maintenance condo. At least, that’s the image often portrayed. But for us, retirement wasn’t about shrinking our lives. We decided against the downsizing trend, opting to stay put in our familiar home filled with memories. Here’s why we chose comfort over perceived practicality:
The Heart of Our History. Our house isn’t just bricks and mortar; it’s a chronicle of our lives.

IN THE DYNAMIC AND often volatile world of investing, simplicity can be a powerful ally. While the allure of complex strategies and exotic investments may seem appealing, many investors find themselves overwhelmed and underperforming as a result. Enter the three-fund portfolio—a straightforward, diversified approach that offers numerous benefits to investors of all levels. In this article, we delve into why investors should embrace this minimalist strategy and explore specific index funds that can help build a robust portfolio.

THE GLINT OF a polished mahogany desk, the thrill of a closing handshake—that’s the image they paint of being a financial advisor. But for many of us starting out, the reality was a cramped cubicle and the relentless pressure to churn out variable annuity sales. For five years, I was a cog in that machine, and let me tell you, the shine wears off fast.
The Allure of the Annuity. Fresh out of college,

MONEY MAY NOT BUY happiness directly, but it can certainly be a powerful tool for creating a more fulfilling life. The key lies in spending strategically, focusing on experiences and investments that nurture well-being rather than fleeting pleasures. Here are five smart ways to leverage your finances for a happier you:
1. Invest in Experiences, Not Things. Research shows that experiences bring us more long-term joy than material possessions. Think about it: The thrill of a weekend getaway with friends or the excitement of learning a new skill likely linger in your memory far longer than the satisfaction of a new gadget.