Fiduciary Advisors and You
What Should I Consider When Looking for a Fiduciary?
There are many great lessons and thought provoking articles in this week’s set of top reads. In the personal finance section, Ben Carlson unpacks how tiny improvements can make a big impact on our savings accounts, Nick Maggiulli shares four lessons from Leonardo da Vinci that we can apply to become better investors, and Adam Grossman has seven financial housekeeping actions you can take in the last weeks of 2018 to end your year well.
In the personal interest section, Shana Lebowitz picks 25 inspirational titles from Amazon’s list of 100 books for leadership and success, and venture capitalist Fred Wilson discusses why failure is a better route than a hard pivot for startups.
Tiny Improvements, Big Results
In this article, Ben Carlson makes a compelling argument for the huge impact that automating and habit forming can have when it comes to saving money. He says that we should automate our savings to prevent ourselves from giving up or forgetting to do it at all, and we should implement good habits (like setting aside $25 a month) so that small, bad habits aren’t compounding and working against us.
Automation is the key to creating good money habits you can actually stick with.
For example, your kids may have trouble saving money, as it can be overwhelming for young adults to start putting money aside each month for several reasons (student loans, low starting wages, living expenses etc.). This is where automation and good habits can really make a difference.
For the full article, and to see how starting small could grow your savings account to a little more than $1,600,000, click here.