Kids are living in the entitlement generation, the shadow of their Baby Boomer Parents. For some reason after World War II, children developed an attitude of having it all and having it now.  This has gotten many people of both generations in a load of debt. One of the biggest things that I’ve seen as a coach at Prosper is that a lack of financial knowledge is multi generational. The inability to manage money is transferred down to the kids, then their kids, and so on. Many people see personal […]

Some very interesting tidbits of information have been produced this week. Yahoo finance produced a survey relating to money It is enlightening non the less. What is illustrated here is the falicy “Nearly 80 percent of U.S. adults say they need more money to feel financially comfortable, and more than a quarter would have to double — or more than double their current income to achieve that goal,”  (Yahoo! Finance/Harris Interactive survey.) Among the other findings: • More than half of respondents don’t follow a budget • More than 70 […]

It can be difficult creating a financial plan, but it is ever more challenging to stay with it. What is the solution? First, use the buddy system. Most people I work with are couples. They already know that a plan is being created for their benefit. Once a plan is established and goals are prioritized, it becomes much simplier to carry that plan out. Remember that the road to financial freedom is not a solitary one. It helps to use the advice of your coach or others who have a […]

Movements in the currency market are best described as a random walk: unpredictable, like a drunk staggering home. But whereas most of the time the movements are gentle, swaying like someone who has shared a decent bottle of chianti with a friend, at present they are lurching like a 16-year-old swigging a bottle of tequila. The economies of Europe, Asia and the US would all be at risk from further dollar falls. The greenback fell close to its all-time low against the euro last Friday, although it has held up […]