Photo credit: Peter Dant Photography
On August 21, 2017, the first total solar eclipse in the United States since 1918, ran from coast to coast, from Oregon to South Carolina.
It was a big deal.
Some financial experts raced ahead in the news, predicting a $700 million dollar ‘hit’ to the USA’s collective productivity bottom line, thanks to people taking time out of their day (or the day off) to watch the celestial show. (Read why Forbes says this is bunk.) The Associated Press reported that it was the most observed and reported eclipse in history.
It was special for those of us occupying the north west hemisphere as this eclipse event was only visible in the United States and there won’t be another one like it until April 2024.
How special was it?
Build Good Credit, Early.
This is the third part of our three-part series on The Path To Awesome: Top Three Financial Habits to Help You on Your Way. I detailed in the first blog, that I was inspired to write these by a very personal response to Kid President’s exhortation that everyone find their own path to awesome. As a father and former young person myself, I see this as a chance to more widely share some of the conversations I’ve had with my own daughters about developing good financial habits to help us all get to our own, very special brand of awesome.
However, just because this wraps up our Path To Awesome discussion, the conversations about developing good financial habits won’t end, and they shouldn’t.
John Munley and his daughter, Sarah, on their way to Sarah's moving up ceremony.
My daughter recently had her moving up ceremony during which she and her class celebrated “graduating” from elementary school and starting their middle school years in the fall. During the ceremony, the principal addressed the parents and students, quoting Robby Novak. Novak, who also goes by the name, Kid President, is a 13-year-old boy who, despite living with osteogenesis imperfecta, a rare genetic disorder that makes his bones extremely brittle, has built an online empire using his intelligence, charm, wit and boundless optimism to inspire others.
My twin daughters got their first real jobs last summer, a common rite of passage through adolescence and good preparation for increased independence as they began their college adventure. I was a very proud parent. My kids would finally earn their own money and learn responsibility – or so I thought.
Topics: Financial life guidance
When you were a kid, there were probably moments in life you couldn’t wait for. You know those times when you had butterflies in your stomach and couldn’t sleep at night because you were oozing with excitement and anticipation of that summer vacation, trip to Disney World, Christmas morning, or that big movie premiere.
Topics: Financial life guidance
When you sit down with a financial advisor, you’re not expecting to be asked questions like, “What is your ideal life?” or “What things are most meaningful to you?”
Those types of questions are reserved for Oprah interviews, not financial planning sessions. You’re expecting to discuss investments, assets, tax returns, debt and retirement planning. What do those deep and probing inquiries have to do with managing your money?
No one wants to grow up to be a goal setter. But somewhere between high school and college graduation we realize, if we want to be that marine biologist or that fire fighter we always hoped for, we’re going to have to set a goal.
According to Bloomberg Businessweek, a venture backed startup is banking on the notion that millennials with money to invest want options that align closely with their social values and that they would rather use a robo advisor than a flesh and blood financial expert.
If you’ve always had a sneaking suspicion that your financial advisor is profiting from his advice to you, you’re probably right.