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What is a kind way to leave your financial advisor when he has done little wrong, but you want to do the investing yourself to save money?
Over a lifetime of investing, 99 per cent of all the steps taken in regards to a financial plan are methodical and non-hurried. Warren Buffett often refers to these as a bias against taking any action. There have been occasions when circumstances have required near immediate action such as selling or buying a stock at a clearly distorted price, buying a piece of property, or purchasing something such as a large diamond ring for a loved one. What was your decision making criteria that you used in these exceptional cases ? Was it an intuitive judgement ? How did you determine the success of your actions ?
When deciding if you have enough saved to retire, how do you deal with the error bars around future tax increases, inflation, possible reductions to social security?
Is frugality inherited or learned?
Conscientiousness (planful, responsible, goal-directed and self-disciplined) is the Big 5 personality factor that is no doubt strongly related to frugality. Research on identical twins reared apart found that conscientiousness has a heritability of 44%.
What’s the most unusual or strange thing you have invested in?
Have you ever regretted relocating for a job?
What experience felt like a significant chore at the time but turned out to be a great experience?