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.”
Enjoy the ride of YOUR life!
Find Your Financial Roadmap.
Brian can help you develop a roadmap to get you from where you are to where you want to go — and then put it in action, making your money work for you to avoid behavioral mistakes.
(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…
Additional Articles You May Find Interesting
Article written by Brian Bickett One of the key provisions of the CARES Act, the coronavirus relief act that took effect this spring, permitted retirement account holders to bypass required minimum distributions (RMDs) for 2020. RMDs are the annual withdrawals...
The Social Security Board of Trustees released their annual report at the end of April once again this year. The report for 2019 spans 276 pages that go into detail about the current financial status, future assumptions, and projections. Once again…
Article written by Brian Bickett I’ve been able to help a handful of people make educated decisions concerning their Arch Coal Pension Plan in the recent months. While it all comes down to your personal financial goals, here are a few points that have helped my...
Start your journey to financial freedom and peace of mind today.
Iron Mountain Financial Planning LLC (“IMFP”) is a registered investment adviser offering advisory services in the States of South Dakota and Wyoming and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by IMFP in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant to an applicable state exemption.
All written content on this site is for information purposes only. Opinions expressed herein are solely those of IMFP, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.