Weekly Articles by Osbon Capital Management:
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Three Budget Habits of the Truly Wealthy
Budgeting is like dieting, when it’s too strict it quickly falls apart. Fortunately there are simple ways to get around the challenges linked to budget discipline. Lead by example and teach your family members to follow these habits and you’ll ensure their financial stability in any environment. Here are three tried and tested habits:
Are Your Millennials Missing Out?
It’s not surprising that financial literacy is a top concern parents have for their kids. Whether it’s watching children struggle with money decisions, or worrying about them responsibly handling their eventual inheritance, parents have good reason for concern. Kids don’t learn much about personal finances in school, and in many families it’s not a typical dinnertime topic. Here are some steps you can take to build strong family habits around shared financial literacy:
Who Are You Investing For?
When you compare who benefits from your portfolio, how does your view of investing change? Investing for your own retirement is not the same as building a surplus that will eventually go to your kids or future grandkids. With different people in mind, you and your advisor may make different decisions about risk, reward and time horizon. Let’s look at a few different perspectives of people living in the future.
The Cost Of Safety
If you are uncertain, optimistic or nervous about investments right now, it may be a good time to do a little reading. Knowledge is really the best way to counterbalance emotions, which we know may be running high for some right now. Our advice: Check out what the masters have said. They’ve devoted their lives to understanding investing and captured it all in print. It turns out there is truly nothing new under the sun; their insights apply year in and year out.
House Rules For The Truly Wealthy
Where do you keep your house rules? Are they hanging on the fridge, framed in your study or simply preserved through an unspoken mutual understanding? The fourth installment of our True Family Wealth series is about intellectual capital, which includes the framework for making decisions in wealthy families. The intellectual capital topic often sits untouched and unarticulated. Here’s how it can help you.
The First Component of True Family Wealth
Following the popularity of last week’s article, we’re launching a four-part series and taking a deeper dive into Charlie Collier’s philosophy of true family wealth. Charlie spent 25 years advising Harvard’s largest philanthropic families. Over the next few weeks, we’ll explore each of the four wealth components in more depth. We’re starting today with the foundation of wealth, your Financial Capital. How should it fit into your family?
The Four Components of True Family Wealth
When you think about wealth in your family, are you only thinking about financial assets? Charlie Collier says there’s much more to the story. Charlie, a former Senior Philanthropic Adviser at Harvard University for 25 years, is considered one of the world’s top experts on family wealth. Based on his extensive experience at one of the largest philanthropic organizations in the world, second only to the Vatican, he says it’s important to think past money when considering wealth.
Better Reporting: See Your Finances In A Whole New Light
There’s a big difference between data and insight. The financial world has been great at generating the former, but notably weak at taking the next step by creating insights. At Osbon Capital, we see that as a major shortfall and have invested heavily in reporting capabilities that let you take control of your financial information. With our industrial strength financial portal, our clients have all the information they need to understand where they are and how to reach their goals. Here’s the latest in technology.
To Choose Or Not To Choose
Do you have a big decision that you’ve been putting off? You’re not alone. Many investors want to choose between options A, B and C, but end up choosing D, as in Do Nothing. Inertia can be a big roadblock to creating a portfolio and financial plan that match your needs. Here are a few situations we run into with clients that may help you extricate yourself from inertia’s sticky grip.
