Have you ever tried to learn a foreign language? It can be a slow and arduous process. Many say that an effective way to speed up the learning process is to immerse oneself in a foreign language country. The most common areas where students fail are just the lack of vocabulary, poor sentence structuring, or conjugating verbs erroneously. Yet, there are some instances when the errors become quite comical. I have a funny story to start out today’s TOM discussion, so join us on a short journey sout...
Feb 12, 2021•28 min
For a financial professional, there are two decisions that need to be made: (1) What will I recommend to clients? (2) What will I personally own? What I find interesting is whether or not the same answer will suffice for both questions. As I mentioned, the investment options in the marketplace are extensive, but even this never-ending list is trumped by an even greater financial phenomenon – financial opinions. Everyone – amateur and professional alike – seems to have an opinion on how to invest...
Feb 07, 2021•33 min
We live in a world that we could have never imagined a decade ago. We are more “connected” today than ever, yet many of us are feeling more alone than ever. We have access to more information today than we ever have, yet many of us are feeling even more uniformed. The headlines are littered with polarizing opinions on everything from the pandemic to politics. And now add to this, a highly publicized stock market battle, in which a group of message-board-rebels are using the stocks of struggling ...
Jan 29, 2021•28 min
Have you ever played musical chairs? An exciting game, full of anxiety and anticipation, as you are left wondering if you will be left without a seat in the end. When the music stops, that is when the exclamation mark is written, that is when the calamity begins. Just to provide clarity, I’d like to answer two questions for our readers (1) Do I believe there are pockets of “bubblicious” investments in the markets today? Yes. (2) Do I believe that there are investments at attractive bargain price...
Jan 22, 2021•24 min
Trevor is joined by TBG co-workers Sean Latimer and Leslie Rea to talk about developing the right kind of financial portfolio. Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com
Jan 15, 2021•25 min
Trevor has a conversation with TBG Managing Director, Solutions and Analytics regarding investing principles and how to take the fear out of the process. Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com
Jan 08, 2021•33 min
Start with broad categories to begin organizing your potential checklist items. For personal finance, that’s things like Tax Planning, Estate Planning, Insurance, Charitable Giving, Cash Management, Investment Allocations, etc. Next, start asking yourself questions relative to these categories: Are there any tax strategies that I should be implementing before the end of the year? Are there any areas of my life in which I am potentially underinsured? Is there a more efficient and organized way to...
Dec 18, 2020•30 min
If you worked at The Bahnsen Group, you’d know that Sean Latimer and I eat lunch together just about every day. We are blessed at The Bahnsen Group to have a very tight-knit, family-like culture. Sharing lunch together is a time to bounce ideas off one another, share best practices, and problem solve. I learn a lot from these lunchtime conversations, and I am a better advisor for it. This week, during one of these lunchtime discussions, Sean shared an idea for a topic that he suggested we discus...
Dec 11, 2020•27 min
Let’s imagine we had a time machine, but this time machine would only allow us to go back 90 days – that’s it. So, we jump in our time machine, pull the green lever, push the special purple button, and zoom off we go. We open the door and find ourselves back in the first week of September. What’s grabbing headlines? What’s filling our social media feed? What’s the conversation du jour at the coffee shops? Politics. The country will spend the next 60 days wondering how this 2020 election would pl...
Dec 04, 2020•29 min
Trevor Cummings and Sean Latimer from The Bahnsen Group Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com
Nov 20, 2020•26 min
What happens if you don’t have principles or an investment philosophy? Then you are going to lean on what “feels” right at the time. These feelings, or what you might label intuition, are often influenced by the current environment you find yourself in. So, in a year like 2017, when you see bitcoin climb from $1,000 to nearly $20,000, you might find that your investment interest has peaked. On the other hand, in a year like 2018, when you see that $20,000 mark plummet back to the $3,000 range, t...
Nov 13, 2020•25 min
Stubborn as a mule. That’s how the saying goes, and I’m often that mule. Stubbornness at times can be a strength when it’s a result of deeply held convictions. More often than not though, stubbornness is a weakness. People find themselves falling in love with a conclusion and over time they forget to go back and review the supporting evidence for that conclusion. The longer a position is held the more cemented our stance becomes. Lately, I’ve found myself explaining financial planning to clients...
Oct 30, 2020•21 min
In the world of Psychology, there is an often-cited study that was conducted at Stanford University called the Marshmallow Experiment. This was research targeting the study of delayed gratification. The research consisted of multiple test variations, but the process across the board was similar. The test subjects, children, were offered the option of one marshmallow now or two marshmallows later, if they were willing to wait. Again, the study was intended to measure the children’s self-control. ...
Oct 23, 2020•24 min
Another great episode with Trevor Cummings and Sean Latimer of The Bahnsen Group Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com
Oct 20, 2020•32 min
This week's Thoughts on Money [TOM] is filled with some personal stories that, of course, I think are interesting but I promise that I get into some key financial principles for you to consider. I'm especially pleased this week's episode of the TOM podcast (with my co-worker, Sean Latimer) as we make dig into some key aspects of compounding of this week's blogpost. The article ends with one of my favorite videos I've seen in quite some time! Links mentioned in this episode: http://thoughtsonmone...
Oct 09, 2020•25 min
One attribute of outstanding leadership is one’s ability to cast vision; to clearly articulate the organization’s objectives in a simple and inspiring manner. We call leaders that excel in this area visionaries. I’m currently on a team at church to develop a vision statement for our congregation. I didn’t realize coming into this project just how difficult that task would be. To assist in the process, the group has been reading, listening to, and watching content on what it takes to develop a gr...
Oct 03, 2020•24 min
The bible tells us, “Pride goes before destruction, and a haughty spirit before a fall” (Proverbs 16:18) a warning about overconfidence and how arrogance frequently leads to failure. In our culture, we often hear these famous last words precluding a fall, “It’s a sure thing.” If you’re a frequent visitor to Thoughts On Money then you know I love the game of basketball. I love playing basketball, talking basketball, watching basketball, and anything else that relates to the game of basketball. My...
Sep 18, 2020•31 min
Financial planning is a math equation. This equation has multiple variables ranging from intrinsic metrics like your goals, financial resources, personal preferences, and so on, to external factors like inflation, tax rates, expected rates of return, and so on. For this equation though, the conclusion is less like a math solution and more like a report card: "A" is passing with flying colors, "C" is barely passing, and "F" is failing. Do you know where you stand as an investor? Have you done suf...
Sep 11, 2020•19 min
Since the inception of Thoughts On Money, the objective has been the same - to help translate the complex world of personal finance into something more palatable and to address common questions that investors have. If you've been a long-time reader of TOM, you know that most investment questions don't have a one-size-fits-all answer; this is why I commonly encourage readers to address these particular issues we discuss with their advisor. The problem with often concluding, "best to discuss with ...
Sep 04, 2020•24 min
There is a debate out there in the world of finance. A debate about active vs. passive investing. Today I take you on a journey through my personal timeline, how I bumped into this debate, and why I think we are all having the wrong conversation. Come find out why in, fact, all of us are exactly the same kind of investor at our core. Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com...
Aug 14, 2020•14 min
This week's Thoughts On Money addresses the never ending quest for "free money." Whether it's some get rich quick scheme someone at work is whispering about or a "sure thing" at the local horse track, many people are enticed by the quick and easy path to riches. In these COVID times, there are no shortages of people touting their short-term trading successes and mistaking gambling for investing. The reality is that this kind of risk taking is a trap, a trap that can cost you your financial futur...
Aug 07, 2020•31 min
Today I want to address a question I have been getting a lot from clients and friends. This question is usually premised by a comment or concern sounding something like this, “I am worried that this election in November means that [FILL IN THE BLANK] will win the presidency and that will have a negative impact on markets… does this mean that I should sell my stocks?” In order to answer this question, I need to take you on a little journey and give you a better understanding of how the stock mark...
Jul 31, 2020•18 min
Here’s the problem with commitments, they take time and time is a finite resource. Personally, I need to learn to not overcommit. More and more, I see products promoting themselves with financing options. Everything from a mattress to a stationary bike is being marketed with long term financing options. Something with a $2,500 price tag might seem too rich, but a $60 monthly payment over 3 or 4 years becomes more palatable. Our culture has begun to create “luxury” everything and these price tags...
Jul 24, 2020•20 min
Many researchers conclude that an average adult is responsible for making 35,000 decisions a day. Some of these decisions are big, like who you will marry, and others are small, like deciding whether you want cream and sugar in your coffee. To help us navigate these complexities, and the barrage of decisions to be made, we lean on heuristics – little mental shortcuts that help us make quick rule-of-thumb judgments. Today I would like to address one of these common finance simplifications, “Cash ...
Jul 17, 2020•17 min
Joined by TBG Advisor Sean Latimer, your host Trevor Cummings answers some questions of how markets really work. Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com
Jun 19, 2020•22 min
The human condition finds most of us being short-sighted. What I mean by that is that we tend to get caught up in current events and what’s happening in the here and now, leaving us more often lacking as long-term planners. But beyond solving the short-term (short-sighted) of say, needing a paycheck to keep the lights on, we (investors) also have other aspirations for our money and what it will finance in the future. That growing balance in our investment account represents the accomplishments t...
Jun 12, 2020•19 min
Today’s article is about that day we hang up our occupation and step into retirement. The question is, will you love it? Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com
Jun 07, 2020•15 min
The key to making good decisions is creating an environment that is conducive to success. When it comes to investing, much of this battle is fought in your mind and it revolves around expectations. Most bad financial decisions will be a result of an investor reacting to disappointment – an investment did not meet their expectations, and this triggered a feeling of disappointment which then lead to a poor decision. Here on TOM, we’ve stated that there are big differences between long term average...
Jun 03, 2020•16 min
I love playing basketball, watching basketball, thinking about basketball. I love basketball. Maybe it’s because it not only requires skill, agility, and endurance but also because the best teams win because they have a good game plan, one that is able to adjust to their opponent, one that is disciplined and practiced to perfection. If you would be so kind as to indulge my obsession for a minute, I believe the analogies I use for my favorite sport and my favorite profession will be interesting a...
May 22, 2020•15 min
This past week I had the pleasure of getting lunch with a recent high school grad to discuss the wonderful world of finance. He’s a bright young man and is exploring what he wants to study in school and the career path that most interests him. He’s got a knack for numbers and thinks investing and/or advising might be a good fit. These exploratory conversations about finance often tend to spark some really interesting dialogue, getting me to the core of why I do what I do. With such a tumultuous ...
Mar 09, 2020•16 min
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