Financial Myths

Ensuring your prosperity in the years to come using resources you have today.

Here’s A Cryptocurrency Tax Surprise

As David Lenok points out in his excellent article, [1] the fact that crypto is called a “currency” confuses people.  Normally, if you take cash out of your savings account that isn’t a taxable event.  However, crypto currencies like Bitcoin and Ether are not considered currencies by IRS.  They are in effect commodities and subject …

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STAND UP AGAINST RACISM

Just for the sake of variety, this post is NOT a myth.  We all need to be aware of and successfully discourage prejudice, not only by others but especially by ourselves.  None of us is innocent.  “The problem with the world is that the intelligent people are full of doubts, while the [rest] are full …

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EVERYONE SHOULD PURSUE PEAK PERFORMANCE

I believe the title of this post to be a myth.   In my business (financial services) I’m deluged with books, websites, videos, training programs, motivational quotes and memes, superstar mentor offers, mastermind groups, activity tracking spreadsheets, apps to kick my ass out of bed, and on and on.  The drive for maximum this and killer …

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Socially Responsible Investing Is Just A Feel Good Fad

 Like all these blogs the heading is a myth . . .for a number of reasons. First, the largest asset management firm in the world, with $8.67 trillion on the books, is going all in with ESG investing.  BlackRock’s CEO Larry Fink recently wrote a letter to CEOs predicting a “tectonic shift” in the pricing …

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-30 + 43 = 13

This is a mercifully short blog just to drive home a few points.First, the heading -30 + 43 = 13 is indeed a myth, it is false . . . if we’re talking about rates of return.  The correct math is this; -30 + 43 = 0 or, more precisely, -30% + 43% = 0% …

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