My late mother-in-law used to observe that “It is an ill wind that blows no good for somebody.” While looking for the good in any situation, she accurately observed that most situations are advantageous to someone for good reason. Such is the case with our economic woes.

One of the advantages of any “crisis” is that it focuses the attention. These moments, these inflection points give us an opportunity to examine, sift and conclude. They also give us an opportunity to search for the blessings amidst the bad.

It is interesting to comb through the popular media to get a sense of its take. For example, today’s Denver post reprinted an interesting article by Paul Nyhan of the Seattle Post-Intelligencer with the headline “Financial crisis forcing families to simplify holidays.”

In lamenting our “ongoing economic nightmare,” he notes a trend to simplification and charity. The article is interesting examination of the emotions generated by changes in our perceptions of economic well-being. It talks in terms of honest conversations with children, focus on necessities versus luxuries and a sense of appreciation for others and for low-cost or no-cost activities. There is nothing like looking for the silver lining.

This is no joke though. For years we have heard that America is such a materialist country. What these economic times “force” is not simplification so much as examination. What do we value and why? When times are fat it is easy to overindulge. It has even acquired a disease reference “affluenza.” This is not to say that these times are without genuine suffering. Nonetheless, there are parts of our national value system that have required reexamination for some time.

©2008 Richard B. Wagner.  Reprinted with permission.

In the last thirty years, the financial services industry has been radically transformed by computers and more recently, by the Internet. The traditional products on which the industry was based, insurance and investments, have evolved into a panoply of complex offerings described in great detail either by thick prospectuses or weighty regulatory documents, indicative of the risks faced by consumers. Since they are uniquely numbers-based, financial products and services attract quantitative analyses.  Modeling and re-design bring new iterations. Read the rest of this entry »

The ancient ethical will is a beautiful tool for those who don’t want their legal will to be their only “last words.” Updated for a modern audience, the ethical will is a non-binding personal legacy letter (or recording) that is attached as a side document to legal documents. With roots in medieval Jewish wisdom tradition, the ethical will has been rediscovered by people of all ages and faiths as a lovely and sensible instrument for timeless communication of the messages and information too important to go unsaid or fall between the cracks of generations. In short, ethical wills are love letters. They are created in the midst of life, works in progress by their nature, deeply satisfying for those who write them and treasured by all who are lucky enough to receive them.   Continue Reading

By Martin Siesta, CFP®

In many of the communities that I am a member of(our profession, local communities, non profits, and yes, my family), there is this underlying, and sometimes fully present conflict and stress. There is judgment about who knows better and where the wisdom lies. But what I have noticed is that when we invite each other into conversation where we truly listen, something changes. Perception is altered. Recently I participated in an intergenerational learning journey that had about 30 participants across generations. I was surprised at my immediate judgment as I just saw someone enter the room. Labels and shadow galore! Yet over several days, each of us were jarred, inspired and moved to tears at both hope and understanding.

Every aging generation questions whether the generation coming of age has what it takes to learn into maturity as defined by the aging generation. Easy for each to think it knows better than the other. The fact is that they will always know more together than they could in isolation or competition. Hierarchy has the relevance of fossils. In an age of wisdom, life is a circle and we dare to be peers.

© 2008 Martin Siesta, CFP®.  Reprinted with permission.

When we pass from this life, we will each leave a legacy. Regardless of our preparation-or lack thereof-for the end of life, we will indisputably leave something behind. That legacy will be both tangible and intangible.

Most of us know that the purpose of a will or living trust is to pass on the material things we want people to have. However, few of us have ever given much thought to how we wish to pass on our knowledge and beliefs.

That is where an old medieval tradition, something once called an ethical will, is gaining new ground. In those days, an ethical will passed on to descendants wisdom on how to live a life worth living. Continue Reading »

© 2008 Rick Kahler.  Reprinted with permission.

Richard B. Wagner, JD, CFP®

It’s one of those “best of times, worst of times” times. Account balances dissipated; hopes and dreams mutated to reflect new realities. Many of us have gone through severe depression ourselves, questioning our skills, our relationships and our profession. Others of us are seriously questioning our career choices -or our career choices are questioning us as bottom lines disintegrate. As one friend noted in his travels across the country, “people are really hurting out there.” Even our Nazrudin conversations have mostly engaged our lack of responsibility for unfolding events as we share tales of client loyalty and understanding. To my eyes there has been surprisingly little conversation devoted to assessing our responsibilities, articulating lessons to be learned or speculating about the skills we might need going forth. The skills you might need going forth. Read the rest of this entry »

By Martin Siesta, CFP®

Much of what I have been hearing and reading from planners is around questions like “What did I miss?” “What if this is different?” It is surrounded by fear and shame. Let’s step back.

I want to start off by saying, I believe that this crisis is “different” and it has been coming for a while. While the cost of the “bailout” has been in the headlines, it pales compared to the other debts that will come due all too soon:

• 12 trillion dollars to support the current and future beneficiaries of social security
• $140 trillion to fund Medicare as it is currently legislated
• $170 trillion to fund Medicaid (this is a difficult number to evaluate as it is a combination of Fed and State). Read the rest of this entry »

This prophecy was spoken by an unnamed Hopi Elder of Oraibi, Arizona. it speaks of this time of transition in our world and asks important questions. It speaks of the possibility of this being a good time. We can create that with an expanded perception in life and with deep and true questions about ourselves and the way we choose to live.

–Martin

The Hopi Elder Speaks

“You have been telling the people that this is the 11th hour.

Now you must go back and tell the people that this is The Hour.

And there are things to be considered. . . . Read the rest of this entry »

By Neal Van Zutphen

I am fascinated by the human mind and our emotions, particularly as they engage money.  This blog is based on my financial planning practice, my current research and attempts to understand them.

Let me share my own bias.  My fundamental belief system is humanistic in nature.  Accordingly, I tend to seek empirical data that embraces the concept of free will or the power of choice.  That is my worldview.  Generally, it serves me well in both my personal life and my professional services. Read the rest of this entry »

Money as Debt