Fair Process for Decision Making in Family Businesses

Dear Richard, I have enjoyed reading your blog posts over the years. My parents are in the process of transitioning the ownership and management of our family’s business to my brother, sister, and me. All three of us are in our mid to late thirties and have worked our way up in the business for […]

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Should you spend money on Experiences?

In this New York Times article, Carl Richards confirms an important lesson I learned for myself many years ago: It’s fine to spend money on memorable experiences. Earlier in life, I was certain that the wisest and most prudent use of discretionary money was to invest it into assets that would appreciate in value, like […]

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“Being Right” is Dead Wrong

My colleague, Andy Bryce, and I were able to spend two days last week working with a wonderful family who are in the middle of a multi-year transition of the family’s business to their very capable rising generation. Today, as we reflected on the progress the family had made together, Andy and I were musing […]

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Dow 20,000: Irrational Exuberance?

The Dow Jones Industrial Average topped 20,000 for the first time in history this week, and many are asking if this is the time to get out of the market. Buy low, sell high, right? This is a question I have been asked ever since I first started as a financial advisor in 1985. At […]

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