Accredited Investors Wealth Management®’s Post

Do you view your money as a soup or a salad? Do you slurp it or pick at it? In other words, do you view your savings, investments and debt as one big thing, or do you have separate accounts in your mind for the different categories? Read more from Accredited Founder Ross Levin in his latest Star Tribune column. https://lnkd.in/gvGQ4JFG #spendyourlifewisely

If I were to give a graduation speech, It would go like this: Welcome, graduates. I would like to prepare you for this next stage of life with some counsel you might not want to hear. Read more from Accredited Founder Ross Levin in his latest Star Tribune column. https://lnkd.in/gWEfBEzG #spendyourlifewisely

I was talking to a friend who asked, "How do you know when you have enough?" It's no surprise this question frequently comes up in planning. But it's not the right question. If you are asking if you have enough: You don't. Having enough is not an amount. It is a perspective. We create money stories and lose ourselves in them. Others dictate these stories to us, but we translate them into our own language. Understanding those languages can help us move forward. Read more from Accredited Founder Ross Levin in his latest Star Tribune column. https://lnkd.in/dW29MBgY #spendyourlifewisely

The founder of behavioral finance, Nobel laureate Daniel Kahneman, recently passed away. His work has made a huge difference in helping me understand how emotions can interfere with more rational decision making. It hasn't stopped me from, at times, making nonsensical financial decisions of my own, but it has helped me pause so I can minimize them. Here are some behaviors or biases we all probably share. Read more from Accredited Founder Ross Levin in his latest Star Tribune column. https://lnkd.in/gpH-Q-2a #spendyourlifewisely

Plenty of us worry we've messed up our kids about money, or are anxious we don't see eye to eye with our significant others on all money issues, or fear we've made stupid money decisions at times. Well, quit worrying, stop being anxious and have no fear: You most certainly messed up your kids, torqued off your partner and made dumb, dare I say horrible, money choices. Those aren't problems. The problem is when you don't think you have money issues. There is a word for that: delusional. While our money lives are probably manageable, we are still mostly powerless when it comes to money always maintaining its "proper" role in those lives. So let's talk about what you can do that has proven useful in harnessing this money beast. Read more from Accredited Founder Ross Levin in his latest Star Tribune column. https://lnkd.in/g5B3Jmsv #spendyourlifewisely

One of the best things about walking our dog early in the mornings is being alone with my thoughts. On a recent morning, one of my favorite quotes by journalist Sydney Harris popped into my head: "Regret for the things we did can be tempered by time; it is regret for the things we did not do that is inconsolable." A primary job of financial planners is to help their clients see what is possible. It is also to help them balance living today while preparing them for tomorrow. But not knowing how many tomorrows we have can create too much emphasis on an uncertain future. How do you strike a balance to avoid regret? Read more from Accredited Founder Ross Levin in his latest Star Tribune column. https://lnkd.in/g3h_Dric #spendyourlifewisely

I love the Minnesota Twins almost as much as I love financial planning. And it's no wonder: The two are remarkably related. Whether a sports fan or not, there are similarities between putting together a team and organizing your financial life. Read more from Accredited Founder Ross Levin in his latest Star Tribune column. https://lnkd.in/gZdiQYgZ #spendyourlifewisely

Things still happened in the winter that wasn't. We were able to Dig(in) for World Cup ski races, slide by with some pond hockey games and forget how to drive in those infrequent snowstorms. Preparing for the winter that wasn't meant that we might have bought unnecessary snowblowers or Yak Tracks. But the winter that wasn't has me thinking about other things that weren't. Read more from Accredited Founder Ross Levin in his latest Star Tribune column. https://lnkd.in/g3nKTNMP #spendyourlifewisely

In an election year, there is never a shortage of questions on how whatever happens in the political realm will affect the financial one. For instance, if the candidate you despise wins, do you need to pull out of the market? Or if the party you don't prefer takes hold of the House and Senate, what will happen to issues like taxes, the environment, Social Security and the deficit? What if your party does win, which investments should you buy? Elections matter for policy reasons. Policy decisions can influence corporate profits. Corporate profits are a key ingredient in identifying which companies have potential. And companies' value comes down to some mix of current results and future potential. So how do you consider what this upcoming election will mean for stocks? Read more from Accredited Founder Ross Levin in his latest Star Tribune column. https://lnkd.in/g-UFhTyx #spendyourlifewisely