Context matters

Happy New Year!!

Resolutions, plans, goals, budgets – how often have you seen them in the headlines in the past week??? And how often have you thought “I gotta get me some of those – after …” (fill in the blank). When I saw the headline of Ron Lieber’s column in last week’s NYTimes, “An Annual Checkup for Your Financial Health” , I almost skipped it, assuming it was going to be “more of the same” – and that would have been my mistake. Thank you, Mr. Lieber, for giving us context – reminding us that the Dow Jones represents 30 stocks, that reaching 18,000 means it was up slightly more than 5% this year, and that making incremental changes can make a big difference over time. Above all, thank you for reminding us that context matters – and that – just like your personal, physical health, your personal financial health is just that: yours alone. And it is affected first and foremost by what you do with it – or to it – every day. So, what will today bring?

Happy New Year.

newbookNew Book by Kim Stephenson & Ann B. Hutchins

Finance Is Personal: Making Your Money Work for You in College and Beyond

"Although some of the most important decisions we make in life are financial, most people rely on their intuition rather than reason. In Finance Is Personal, the authors digest key findings from psychology to help readers leverage their natural style, preferences, and values in order to make more effective and profitable choices. This book will do more to increase young people's financial IQ than any formal course, MBA, or business experience―a must read!"

(Dr. Tomas Chamorro-Premunzic, professor of business psychology at University College London, visiting professor at Columbia University, vice president of research and innovation at Hogan Assessments, and the co-founder of metaprofiling.com.)

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