In a 1980 landmark study, Swedish scholars revealed that most people have a superior view of their skills and risk-taking ability. The topic: How good of a driver are you? Respondents were strongly biased in believing themselves more skillful and less risky1 than the average motorist. (more…)
I always knew I did not want children. Always. My childhood idol was “Murphy Brown,” the caustic, brilliant, witty, complicated woman played by Candace Bergen on CBS. When her character made waves during the “American Family Values” era of the early 90s by having a child out of wedlock, the adults shrieked with horror over the impropriety, and I remember thinking, “I’ll never be able to relate to this woman’s story line now.” I was eleven. (more…)
Who’s your beneficiary?
One of the most important annual financial reviews you can do for yourself is a beneficiary review. Unfortunately, a lot of people only connect beneficiaries to large amounts of wealth, and consequently they neglect an important—and highly personal—component of their finances. If you own something that is important to you, chances are you have an opinion on who you would like to receive it after you’re gone; so write down your wishes and make it official. (more…)