We all like to act as if we’re immune to the vitriol of haters. It’s almost cool to pretend that it doesn’t affect us, like we’re all bulletproof and have some kind of armor against it. And while that might be a helpful coping mechanism, it’s not really true for most of us. The truth…
It’s that time again, everybody. The one we’ve all been waiting for. No, I’m not talking about spring, March Madness or the start of Major League Baseball. It’s election season. Aren’t you excited? Every four years (or more often, for citizens who never miss a chance to cast a ballot), we partake in what seems…
It’s 6 a.m. in Park City, Utah. I’m in the shower. I go through all the typical shower rituals — I wash behind my ears, shave, and more — until I’m ready to get out. I grab the handle for the water, pause, take a deep breath and then turn it. I don’t turn it…
Early in my career, I worked for a big brokerage firm. Back then, I made a habit of seeking out the veteran stockbrokers and quizzing them about their careers. One day, I had a pretty extensive conversation about risk with one of those grizzled Wall Street guys. I’ll never forget it. “Let’s assume you’re moving…
I like buying high-quality things. And for the longest time, I’ve had this sneaking suspicion that buying high-quality stuff, which perhaps initially was more expensive, actually saved me money in the long run. It wasn’t until very recently, though, that I noticed a strong argument in support of my hunch. The other day, I was…
I have a friend who is an emergency room physician in Salt Lake City. The other day, he described to me an interaction he had with a distressed, uncomfortable patient. After doing all the tests he could and finding nothing wrong, all he could do was give the patient that age-old, wonderful doctor advice: “Go…
Every year, right around this time, all the big brokerage firms, economists and banks come out with projections of what’s supposed to happen next in the financial world. This year is no exception. Especially prominent in the news has been the Royal Bank of Scotland warning, in no uncertain terms, that people should “sell everything”…
I have a problem: It’s really hard for me to say no to new, exciting projects. If you’re doing creative work at all (and I’m using this term very broadly, so that should mean just about everybody), then you’ve probably run into this problem yourself. There are endless options for how you could spend your…
Recently, my family needed a new vehicle. I’ve always wanted a truck, and I knew we would get tons of use out of it. Could I have found a cheaper vehicle? Sure. But I knew we could afford the truck, so after lots of careful thought, we decided to buy it. Anytime I make a…
Over the years, I’ve noticed that moment when each of my children started caring about what other people think of them. One by one, I’ve watched as the opinions of others become a big deal in their own decision-making. As smart, mature adults, we have a term for that: peer pressure. You know, that dumb…
A few years ago, my wife and I considered buying a boat. We both grew up water-skiing on the lakes here in Utah, and some of my best memories involve being on the water. I was talking about this with my friend Eric, because he has a boat, and he introduced me to his “cost…
Eleven years ago, I needed a new bike. At the time, I rode a lot. I was in a big group of relatively competitive riders, and we’d often put hundreds of miles on our bikes each week. I agonized over what bike to buy, but I kept coming back to one made by a company…
Ask someone how they invest, and you’ll probably get a pretty standard answer involving stocks, bonds and maybe some real estate or cash. But rarely will people mention something that is even more important: their investments in human capital. They don’t talk about it because human capital investments can look a lot like any other…
Some of us really like the status quo. Even when we have a better alternative, many of us are content to keep on doing what we’re doing. I think about this every time my wife and I swap cars. Depending on who is running what errands that day, we’ll switch between our big car and…
Remember how you felt during the financial crisis in 2008? People were scared. Even the professionals were uncertain about what might happen. I know, because I was scared, too. But I couldn’t show it. Whatever was going on, my clients still needed me to provide thoughtful advice and to help stop them from doing something…
©2024 Lucia Wealth
