In the 1950s, Earl Nightingale delivered his iconic speech The Strangest Secret , painting a stark picture of financial outcomes for 100 young people starting out even at age 25. By the time they reached 65, he observed: only 1  would be rich (truly affluent), 4  would be financially independent (comfortable without struggle), 5  would still be working, and 54  would be broke or dependent on others for life's necessities. The math didn't add up perfectly to 100—likely reflect

Simple principles that guide better financial decisions Most successful investing does not come from predicting the next market move. It usually comes from following a small number of disciplined habits over many years. Markets change. Headlines change. New technologies appear. However, the core behaviors that lead to long-term success tend to stay the same. Below are seven habits widely practiced by experienced investors. Each one supports the same goal. Make thoughtful dec

Artificial intelligence is improving at an extraordinary pace. Tools like ChatGPT and Grok today are dramatically more capable than they were just two years ago. At times, it feels almost effortless. AI can draft emails, summarize reports, explain tax rules, compare investment strategies , and walk through retirement scenarios in seconds. It can translate complex topics into plain language and help users explore ideas quickly. That is real progress. Some headlines suggest

Elon Musk often describes “first-principle thinking” as breaking a problem down to its most basic truths and building back up. The same idea applies to personal finance. When you strip away products, predictions, and noise, nearly every financial decision rests on three first principles. These principles explain why some choices support long-term stability while others create unnecessary stress. They do not change with markets or headlines. They form the foundation for bette

Early in my career on the trading floor of the Chicago commodities exchange, I learned something early and hard: success in that world isn’t about how big your account looks, it’s about how much cash you actually have to absorb the swings and volatility that come with trading. One month you might win, the next you might lose—and if you haven’t built a buffer, your lifestyle becomes your liability. I saw—and personally experienced—traders who had great months, sometimes great

The short answer is no.  Advisors will likely follow the same path engineers have taken in recent years. They will adopt AI to deliver more client-focused advice, improve productivity, and serve more households. Clients, in turn, will use AI to verify what they are hearing and ensure they are asking the right questions. That matters because trust is not automatic today. For example, is the fee in line with industry norms? If an advisor recommends rolling over a 401(k) into

Most people misunderstand what it means to “have a plan.”In PlanAssist® , we see a plan not as a document, but as a discipline, something...

A few years ago, I met with a couple preparing to retire. They had done many things right—saved diligently, paid off their mortgage , and built a healthy portfolio. But when we sat down, they were still uneasy. Their concern wasn’t about how much money they had—it was about whether their time and money would line up in retirement . That conversation reminded me of Einstein ’s advice: “Everything should be made as simple as possible, but not simpler.”   Retirement planning ca

When I first started in finance, I thought a plan was just paperwork. Clients wanted investments, not binders. But over time, I noticed something important: the people who started with even a simple plan were the ones who  avoided many of the big mistakes people make . You’ve probably been told more than once that you “ need a financial plan .” It may have come from an advisor, an online tool, or even AI. Some call it a strategy, some call it a roadmap, and others just talk a

When it comes to securing your financial future, having a clear and detailed plan is essential. A comprehensive financial plan acts as a roadmap, guiding you through the complexities of saving, investing, and preparing for retirement . It helps you make informed decisions, avoid costly mistakes, and stay on track toward your goals. I have seen firsthand how a well-structured financial plan can transform uncertainty into confidence. Financial planning is not just about numbe

The best way to reduce your risk of fraud is to never, ever give out your PIN or password and to avoid opening any texts or emails you weren’t expecting. These two strategies alone will save you a lot of time and hassle. That said, we are seeing more fraud attempts from various sources, and minimizing the risk can feel overwhelming. Here are three additional ways to significantly reduce your chances of financial exploitation by a fraudster. Two are free, and one has a modes

I recently watched a thought-provoking video titled “Is Success Luck or Hard Work?” by Veritasium, which challenges our conventional beliefs about financial achievement. While skill, effort, and perseverance are undeniably important, the video illuminates an often overlooked factor in our financial journeys: luck. This insight has profound implications for how we approach wealth building and financial planning . The Misconception About Solely Earned Success Many of us hold

"In the short run, the stock market is a voting machine, but in the long run, it's a weighing machine," Warren Buffett once observed—and, in my opinion, this perfectly captures what we saw this week and what we're experiencing right now. My first direct experience with extreme volatility was on October 19, 1987, when, as a young stockbroker in Chicago, I witnessed the market drop 22.6% in a single day. Investors were "voting" on fears of higher interest rates, rising inflati

How should we allocate our investments if we are close to or in retirement with a populist president in office? It is easy for those who...

Navigating Life’s Crucial Decisions as You Approach 60 As we approach 60, life seems to accelerate—our bodies change, and the number of...

In my book , I discuss three principles that nearly everyone I've known who has successfully built wealth( Key to Building Wealth )...

As you approach retirement, you'll likely have several key assets, such as your home, retirement accounts , pensions, savings, Social...

In my book, I outline three core investment principles that can help individuals make better financial decisions: have a plan , be...

I recently wrote a book on making better financial decisions and have been doing podcast interviews to promote it. One question I get...

Like many crises, the retirement crisis facing baby boomers today was predictable; for those who grew up in the 1970s, watching a train...