I still feel the need to preface every blog post with the reminder that these blog topic headings are myths, unless I indicate otherwise. It is certainly a myth that our tax systems are fair. Here’s another look at relative audit rates. The wealthy have enjoyed the greatest decline in audit rates. And this is …
The “Bigger is Better” myth is a prime example of confirmation bias, that is, seeking, retaining and believing data that supports what we already believe. We feel more secure dealing with a a large and/or well-know financial company, well, because. I can’t fault most members of the public for this because we are not well-trained …
MYTH: When it Comes to Finance, Bigger is Better Read More »
I will call this a myth because I don’t think it is true for most of us, especially those of us raised in Calvinist traditions, where suffering is a sign of virtue and intelligence. It isn’t. To the contrary, “Research suggests that the best self-help advice may have very little to do with yourself”, according …
Remember the Primal Scream? (Not the Scottish rock band) The theory was that if you’ve been repressing your emotions so completely and severely that you don’t even know how you feel in a given situation, letting it all out in a therapeutic setting can be beneficial. I think the title of this post is a solid …
Myth: Venting Our Feelings is a Great Way to Appreciate the Good and Bad in Life Read More »
Frank is a brilliant, hyper-energetic, engaging presenter and teacher. I’ve attended a couple of his seminar trainings back East. We have completely opposite personalities- I’m fairly quiet and enjoy solitude -but Frank provides a great deal of value to all types of people. I highly recommend his books on doing seminars. But frankly (!), his …
Guest Column in the No Myth Zone by Frank Maselli Read More »
I think that the practice of appreciating the good things is essential when we’re bombarded with “news” all day. Here’s what one of my readers has been working on in 2023: Here’s what I’m seeing in the headlines: Markets are volatile. The economy is slowing down.1 Many Americans are feeling pessimistic.2 Experiment: If you click …
Today’s myth is from Paul Krugman’s erroneous How not to Panic About Social Security (2-28-23). (A far more accurate, complete, useful and relevant take can be found at https://socialsecurityworks.org/). Sloppy articles like this on such an important topic are my pet peeve. First error: “I haven’t studied the detailed history of the program’s origins [that would be advisable next time, Paul], …
(This post is copied from IRS’s Tax Tips newsletter) Issue Number: Tax Tip 2023-38 ___________________________________________________________ Don’t fall for these federal tax refund myths. Once people complete and file their tax return, many of them eagerly await any refund they may be owed. No matter how a taxpayer plans to use their tax refund, knowing fact …
In general, yes, you can trust a fiduciary adviser with your money. But why would you?? Weekly, in the many financial journals I read, are one or more news stories about “financial advisers” who have outright stolen their clients’ money. Here’s an especially egregious one involving the elderly: https://www.financial-planning.com/news/ex-lpl-advisor-bradley-a-goodbred-charged-with-felonies And this one involving twin brothers …
MYTH: I Can Trust Licensed Fiduciaries With My Money Read More »
This is a myth based on falsehoods circulated by, of course, large powerful companies who are not ESG in their practices. To appreciate how false this myth really is it is important to have a basic understanding of what the term means. The following summary was written by ChatGPT using the query “basics of ESG …
Why ESG Investing Isn’t Just Feel-Good Social Engineering Read More »