Financial Myths

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

Arbitration IS the Best Dispute Resolution Tool

The title of this blog post is, in my opinion, a solid myth.  Good proof of that are recent bills in Congress intending to end binding arbitration because, in general it is:  Unfair.  The process is heavily biased in the industry’s favor  Which is probably why the Securities Industry and Financial Markets Association (SIFMA) is against reforms.  …

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MYTH: Healthcare Will Be Your Biggest Retirement Expense

The truth of this blog heading depends, of course, on the health and wealth of the individual.  But it is still rarely true.  In the plans I’ve developed, Taxes usually exceed projected health care costs 3 to 1.  I think a lot of health care cost calculators are unjustifiably alarmist for the purpose of selling insurance.  …

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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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