from the Desk of Brian Bickett, CFP®
How can they afford that…
This week’s personal finance article explores the seemingly more common phenomenon of comparing your financial situation and lifestyle to that of others and asking the question “How do they afford it?”
It truly is an interesting article that explores the emotions and mindsets surrounding the secrecy that we all have with money. Couple that secrecy with our tendency to compare our lifestyles with those around us and we often end up with a good ole dose of inadequacy. While the article likely won’t stop you from making the comparisons, it should help develop a better understanding of the possible trade-offs or forms of assistance.
While I certainly am not immune to making judgments and assumptions using my own view of the world, this is a common comment I hear from clients; especially when comparing their lifestyle with that of younger generations. “I just don’t know how they can afford to live like that.”
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(Alina Tugend, The New York times) – This week’s personal finance article explores the phenomenon of comparing ourselves to others in the seemingly same financial situation. We view from the outside how others appear to spend money and often wonder why we ourselves seemingly cannot afford the same things.
(Jeff Cox, CNBC) – This week’s economic article covers the view of New York Fed President John Williams on the current Fed monetary policy, inflation and the U.S. economy.
(Alicia H. Munnell, MarketWatch) – This week’s retirement article focuses on Social Security Retirement Benefits and the comparison of the cost of lifetime benefits for early versus late claiming in the context of increasing life expectancy.
Reaching out to clients concerning the Equifax Data Breach Settlement options…
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Summary of the 2019 Social Security Trustees' Report Article written by Brian Bickett Earlier than in the past, the Social Security Board of Trustees released their annual report at the end of April this year. The report for 2018 spans 270 pages that go...
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