Author: Olive Tree Wealth Management

I remember when I was a young guy in my twenties and I first got acquainted with the idea of putting a little money away each month and watching it grow. The information I was reading at the time had these pithy points to condense what you needed to know into a few actionable phrases. Start early. Pay yourself first. Stay invested. And along with it was a chart that showed your money growing consistently until you had what seemed … Continued

A number of years ago, I was engaged in a tug of war with another advisor over a client we were both trying to attract. I knew a lot about my competitor and I felt very strongly and sincerely that I was a better fit for the client.  The other advisor was competent, knowledgeable, hard-working, and honest. But there was no doubt in my mind that the client would be better served dealing with me. But why? What did I … Continued

I have something to confess. I don’t have all the answers. You probably already knew that, but it gets us talking about what we expect from the professionals in our lives. I’ve often said that humility is the single most important attribute that an advisor can exhibit. The great thing about humility is that it works together with confidence. It takes a certain amount of self-esteem to be truly humble. Humility isn’t downplaying your skill. Humility is understanding your limits … Continued

In a recent blog, I talked about whether you should consider giving your heirs some of their inheritance in your lifetime rather than having them wait until you die to receive everything from you. If people decide to do this, their heirs, usually their children, will gain some insight into the extent of the giver’s wealth.  This raises the question, do your children know what you’re worth?  And, how much do you want them to know? Some of my clients … Continued

Every time I send this newsletter, I get a number of replies with feedback and comments. It will also prompt those of you on the list – people in my broader network – to start a conversation with me about your own finances. I’m grateful for that. What I’ve noticed over the years, is that the motivation on the part of the reader who reaches out to me is often emotionally charged. It usually has less to do with their … Continued

In my previous blog, I explored the factors involved in deciding to give some money away in your life versus making it all part of your estate. The main practical and financial considerations are whether you can afford to and determining how much you can comfortably part with while still leaving yourself in a strong financial position.  That leads to the question, how much money will you need? I believe that at the root of that question is, how much … Continued

After all these years of working as an advisor, I’ve found that what really stirs people up is talking about what will happen to their wealth when they’re gone. Although we spend most of our time talking about investments, that topic doesn’t elicit nearly as much emotion and enthusiasm as talking about estate planning. Because I deal with people who are in good financial shape, I can often suggest that they have the option of passing along some money now … Continued

“Your molar is cracked. You need a root canal.” That’s what the dentist told me a few weeks ago. It didn’t sound like fun. But the truth is, it wasn’t bad at all. As I laid back and the drilling was in progress, I noticed I was a bit tense. I asked myself why.  It didn’t hurt. Everything was frozen. So why was I still, well, afraid? The only thing I could think of was that, although it didn’t hurt … Continued

With housing prices skyrocketing, the media are featuring stories every day about affordability for first-time buyers and analysis of renting versus owning. Young people, we are told, feel despair at the prospect of ever being able to own a house. I don’t know if that will be true or not. As a financial planner though, I would say it doesn’t matter. They can still have a strong financial plan whether or not they own a home. This made me think … Continued

The Atlantic recently ran a series of articles on happiness by Arthur C Brooks.  That sort of thing always gets my attention.  After all, this is what it is really about.  Whether it’s the way we work, organize our homes, foster friendships or manage our wealth, the end game is to be happy. There is a school of thought that says that happiness is not created by our circumstances.  It’s not something we can achieve.  It’s something we choose.  In … Continued