“The pain of discipline is far less than the pain of regret.” -Sarah Bombell
“If you want something different You Gotta do something different.” – Nathaniel Williams
We love to read and share – here’s some notable things from the last week covering life, investing, planning, and financial literacy for kids plus a look at what we were up to this time last year.
Perspective
The field of behavioral economics has been around for more than three decades, but the application of its findings to societal problems has only recently been catching on – Unless You Are Spock, Irrelevant Things Matter in Economic Behavior
The outcome might be uncertain but the journey is certainly going to be a ride we don’t just want to take, it’s a ride we have to take – Imagine: A World Without Failure
Investing
A report commissioned by Canadian regulators considering overhauling mutual fund fees says there is “conclusive evidence that commission-based compensation creates problems that must be addressed.” – Mutual fund fees hurt investment returns, raise expenses, study says
When in doubt, an expert always knows better. Except in the case of mutual fund managers – Financial experts may not always be so expert, Notre Dame study reveals
You have three options in the face of rising rates. The first two are not recommended – How Should Investors Prepare for Rising Rates?
Responsible investing can lead to better returns – HOW TO ADD 3% IN NET RETURNS
Mother Nature has it in for your investment results. She has programmed all of us to make a lot of mistakes when making investment decisions – Mother Nature designed you to be a bad investor
At financial forks in the road, we human beings reliably take the path most likely to get us fleeced or short-changed – You’re an idiot with money, and there’s nothing you can do about it
How your advisor talks to you about fees can say a lot – video – part of a good series of short videos coming out from MoneySense – Why is fee disclosure important?
Planning
Saying “I do” to your wife’s retirement planning may pay off – Three Reasons Why Women Should Lead Household Retirement Planning
Budgeting isn’t just about tracking your costs, it’s about making sure you’re spending your hard-earned money the way you want to – 5 Reasons Budgets Don’t Work
Are multimillionaires who darn their socks really just cheapskates? Or are those little habits integral to their accumulation of wealth and part of the reason they have achieved a level of financial comfort? – Millionaires Who Are Frugal When They Don’t Have to Be
Financial Literacy for Kids
Is your child’s allowance linked to chores? – Allowances: Tool Or Tyranny?
Rob Carrick on Canada’s new financial literacy strategy – The ticking time bomb: Financial literacy must tackle our borrowing behaviour
This time last year
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