Advanced Wellbeing offers financial therapy insights each week to inform more details about financial therapy.
Do billionaires need financial therapy? The very idea probably seems ludicrous. Yet financial therapy can be especially important for wealthy and powerful men because their financial decisions have a broad impact. The consequences can ripple through organizations, industries, and markets.
If you’re wading through the process of preparing your tax return, you may well be asking, “Why does this have to be so complicated?” Even financially savvy people find themselves second-guessing what qualifies, what doesn’t, and what changed this year..
Early last year, drama around tariffs dominated news headlines, market predictions, and interactions between the US and our allies. Yet most Americans saw little immediate impact on prices for goods. By the time higher prices showed up, the news cycle had moved on. The gap between imposition and impact is part of what makes tariffs so confusing and so politically durable.
Last week’s column covered four different systems often lumped together as “socialism”: State Socialism, State Capitalism, Democratic Socialism, and Social Democracy. While our perceptions of them are shaped by how we think about freedom and fairness, the key differences among them come down to one essential element: who holds the power.
The election of Zohran Mamdani as mayor of New York City has recently put a spotlight on socialism, which increasing numbers of Americans view positively. But when we talk about socialism, we’re usually not talking about the same thing. Beyond its dictionary definition, the word “socialism” actually describes four very different systems.
Over my years as a financial advisor, I have helped many clients work through the financial and emotional aspects of major life transitions. Now, in welcoming two new partners to the firm I started as a sole owner 40-plus years ago, I am working hard to take my own advice.
I have spent years preparing for this; I still was not ready for the emotional intensity.
Some financial advice is repeated so often it begins to seem cast in stone: Never touch your 401(k). Always diversify. College is the path to success. Debt is dangerous.
At the 2025 Nazrudin Project retreat, a gathering of planners, therapists, and coaches who explore the emotional aspects of money, one session focused on financial sacred cows. The discussion was a spirited reminder that even the most established financial “rules” deserve to be questioned.
This month, the U.S. government demanded a direct cut of a company’s foreign sales as the price for letting those sales happen. How is this different from a tariff?
Members of the Class of 2025 have been hearing powerful messages from commencement speakers about purpose, ambition, and changing the world. Graduation is a moment that calls for big dreams.
Another message that I would tell graduates is this: A college degree may be personally meaningful, but it might not get you where you want to go financially. In many cases, a technical school or skilled trade could offer a more reliable path to both income and independence.
If I had a dollar for every time someone referred to the “good old days,” of the American economy, I could probably buy a vintage diner, jukebox and all, and still have enough left for a slice of apple pie.
The newest round of on-again, off-again tariffs is built around that same kind of nostalgia, a narrative that is a myth.
