Articles by Peter Cole on ArticleSnatch.com

The Psychological Dynamics of Inherited Wealth

Fri, 12 Oct 2007 00:00:00 -0400

When people inherit money, they face unique challenges. These challenges generally come under two distinct categories: financial and emotional. On the financial side, the inheritor must learn how to preserve and grow his or her wealth. On the emotional side, the inheritor must learn how to keep his or her life on track, deal with friends and family's reactions to the inheritance and manage with the impact of money on one's life. Inheriting money is often a mixed blessing, but with good support and consultation, inheritors can create a workable and balanced approach: being smart about the money while good care of themselves. Jim grew up as an only child in a wealthy family. On his father's side, the family had been landowners in California's Sacramento Valley for four generations. The family had multiple real estate holdings throughout Northern California. Jim's father was an influential attorney. He represented wealthy, landed interests in his community. The expectations of Jim's family were that Jim would either go into law or business and take control of the family's holdings. There was only one problem with this well laid plan for Jim's life. That problem was with Jim. **End Summary** Topics: inheritance]]> wealth]]> inheritor]]> money]]> financial planning]]> ]]>]]> About the Author: ]]> Peter Cole ChFC, LCSW, Holistic financial planning. Author: True Self True Wealth. Peter Cole is a representative of Securities America, a registered Broker/Dealer member FINRA/SIPC and Securities America Advisors an SEC registered investment advisor. FREE newsletter at http://www.trueselftruewealth.com

A Royal Road to Frugal Living

Tue, 09 Oct 2007 00:00:00 -0400

Many excellent articles have been written offering useful, innovative tips on ways to save money. We'd like to take a different approach. Let's look at what we call the "philosophy of frugal living." Don't confuse "frugal" with "stingy". What's the difference? If you're being frugal, you make use of the coupon in your Entertainment Book when dining out If you're being stingy, you use the coupon as an excuse to under-tip the waiter. Being frugal is finding ways to save money where everyone benefits. Being stingy saves money at the expense of someone else. Don't make a budget and attempt to live on it! Instead, observe your spending habits over the course of a month and notice where your money goes and how the process feels to you. Are you spending a lot of money on something that you actually couldn't care less about? Maybe you reflexively shop for a new outfit every Saturday. If you really love clothes, that might be exactly right for you. However, if what you really love is live theatre, your money would probably be better spent on show tickets and maybe even acting classes. **End Summary** Topics: personal finance]]> peter cole]]> spending]]> financial planning]]> budgeting]]> simplicity]]> frugality]]>]]> About the Author: ]]> Peter Cole ChFC, LCSW, Holistic financial planning. Author: True Self True Wealth. Peter Cole is a representative of Securities America, a registered Broker/Dealer member NASD/SIPC and Securities America Advisors an SEC registered investment advisor. FREE newsletter at http://www.trueselftruewealth.com

It's not "Retirement", it's the "Harvesting Phase"

Wed, 29 Aug 2007 00:00:00 -0400

I propose that we throw out the term "retirement" and replace it with "The Harvesting Phase". For Baby Boomers who have no intention of sitting down and"retiring", The Harvesting Phase is a time of lively engagement in life with an enhanced sense of choice about how we will use our time and energy. John and Sally came to their financial planner for advice: They were both 55 years old and thinking through the whole issue of retirement. He is a self-employed psychologist and she is a university professor. The questions in front of them were: what do we want out of retirement and can we afford what we want? As they talked about retirement they began to clarify what it they really want from it. They want to stay active. They want to work. They want to be socially and politically involved. So - what does retirement mean for them? Mostly, it means that they want CHOICE. They don't want to feel that they will have to work out of necessity any more. **End Summary** Topics: retirement]]> Peter Cole ChFC]]> financial planning]]> retiring]]> elder]]> money]]> annuity]]> pension]]>]]> About the Author: ]]> Peter Cole ChFC, LCSW, Holistic financial planning. Author: True Self True Wealth. Peter Cole is a representative of Securities America, a registered Broker/Dealer member NASD/SIPC and Securities America Advisors an SEC registered investment advisor. FREE newsletter at http://www.trueselftruewealth.com

Sound Investing in Volatile Market Conditions

Fri, 24 Aug 2007 00:00:00 -0400

Recent Increases in the volatility of the financial markets have many investors thinking about their portfolios and wondering if they should make changes. This is therefore an excellent time to discuss the importance of maintaining a disciplined approach to diversified investing.[i] Here are four key points to keep in mind about disciplined, diversified investing during periods of market volatility: 1) Diversification is a tool designed to reduce risk. In the financial markets risk and reward go together. Higher reward investments tend to carry greater risk. Although all investors would like nothing better than a high reward investment that carries low risk, it is important to remember how rare that is. When one diversifies one's portfolio, it is to reduce risk. We do not diversify in order to maximize reward, rather we diversify in order to reduce risk and portfolio volatility. 2) If one's portfolio is properly diversified, then one need not carry around a great deal of anxiety about the daily ups and downs of the market. With reduced volatility that proper diversification brings, one need not become either exutant in an up market nor dejected in a down market. **End Summary** Topics: Peter Cole]]> Portfolio]]> Asset Allocation]]> Diversification]]> investing]]> mutual funds]]> finances]]>]]> About the Author: ]]> Peter Cole ChFC, LCSW, Holistic financial planning. Author: True Self True Wealth. Peter Cole is a representative of Securities America, a registered Broker/Dealer member NASD/SIPC and Securities America Advisors an SEC registered investment advisor. FREE newsletter at http://www.trueselftruewealth.com

Sound Investing During Market Volatility

Tue, 21 Aug 2007 00:00:00 -0400

Recent Increases in the volatility of the financial markets have many investors thinking about their portfolios and wondering if they should make changes. This is therefore an excellent time to discuss the importance of maintaining a disciplined approach to diversified investing. Here are four key points to keep in mind about disciplined, diversified investing during periods of market volatility: 1) Diversification is a tool designed to reduce risk. In the financial markets risk and reward go together. Higher reward investments tend to carry greater risk. Although all investors would like nothing better than a high reward investment that carries low risk, it is important to remember how rare that is. When one diversifies one's portfolio, it is to reduce risk. We do not diversify in order to maximize reward, rather we diversify in order to reduce risk and portfolio volatility. 2) If one's portfolio is properly diversified, then one need not carry around a great deal of anxiety about the daily ups and downs of the market. With reduced volatility that proper diversification brings, one need not become either exutant in an up market nor dejected in a down market. **End Summary** Topics: stock market investing peter cole diversification asset allocation personal finance stocks investing]]>]]> About the Author: ]]> Peter Cole ChFC, LCSW, Holistic financial planning. Author: True Self True Wealth. Peter Cole is a representative of Securities America, a registered Broker/Dealer member NASD/SIPC and Securities America Advisors an SEC registered investment advisor. FREE newsletter at http://www.trueselftruewealth.com

Uncovering Your Hidden Feelings About Money: A Money Coaching Exercise

Mon, 13 Aug 2007 00:00:00 -0400

Having coached many people on improving their relationship with money, I have learned that money is both deeply symbolic and quite real. It is fascinating to consider that fact that money is, in its essence, entirely symbolic, yet it is utterly real. Our very survival depends upon having enough of it. Yet money is symbolic in a social sense. If you look at a dollar bill, it has no inherent value - it is just a piece of paper. Nevertheless, money is as real as it gets when we need it in order to pay for something we want or need. People all over the world have agreed that this piece of paper can be traded for any good or service. Our collective agreement is that this substance we call money is basic to the way we live. Money also has very individual meaning. Each family has its own ways of thinking about, dealing with and interpreting money. As we begin to unpack money's personal and social meaning, we become more empowered in our relationship to it. This empowerment means more choice and can lead to better decision making through awareness of the underlying emotional issues. **End Summary** Topics: money]]> peter cole]]> true self true wealth]]> investing]]> money coach]]> financial planning]]> money coaching]]>]]> About the Author: ]]> Peter Cole ChFC, LCSW, Holistic financial planning. Author: True Self True Wealth. Peter Cole is a representative of Securities America, a registered Broker/Dealer member NASD/SIPC and Securities America Advisors an SEC registered investment advisor. FREE newsletter at http://www.trueselftruewealth.com

Just For Couples: Five Easy Steps to a Rich Life

Mon, 06 Aug 2007 00:00:00 -0400

Do you and your partner struggle over money? Does it seem like you can never agree on how to spend it? Do disagreements over money spill over into the rest of your lives together? Along with sex and children, money is at the top of the list of topics most couples fight about. Inability to agree about money is all too often a major factor in divorce. You and your partner don't have to fall into the "money trap", however. Here are 5 steps you can take to resolve your money issues and enrich your lives - financially and emotionally. 1. Don't talk about money - talk about values. Rather than arguing over whether to buy a new car or put the money toward your retirement account, start to talk to each other about the underlying values you each hold. For instance, you may believe in "enjoying the moment" while your partner is more concerned with securing the future. Talking about your values doesn't mean that you will always agree, but it does give you the opportunity to explore together what's really important to each of you. 2. Listen with the "third ear". **End Summary** Topics: relationships]]> money]]> peter cole]]> financial planning]]> marriage]]> true self true wealth]]> wealth]]>]]> About the Author: ]]> Peter Cole ChFC, LCSW, Holistic financial planning. Author: True Self True Wealth. Peter Cole is a representative of Securities America, a registered Broker/Dealer member NASD/SIPC and Securities America Advisors an SEC registered investment advisor. FREE newsletter at http://www.trueselftruewealth.com

Investing for Cultural Creatives

Tue, 31 Jul 2007 00:00:00 -0400

"Cultural Creatives" are people who care intensely about the environment and our role in it. We care about relationships and spiritual development. We tend to look for cooperative solutions to problems. We would prefer to cooperate with others than to compete with them. We would be willing to pay more in taxes if those taxes were to help improve the human and natural environment. We care about our psychological development. We care about social justice. It is really no wonder that culturally creative people can feel alienated from the world of money and investing as it is portrayed in the media. The financial media tends to put its emphasis on finding hot stock tips and consumerism, valuing competition over cooperation, and valuing profit over social responsibility. However, there is a natural home for culturally creative people who want to succeed with their investments. The values that we hold are actually ideal for successful investing based on a powerful model known as Modern Portfolio Theory. Nobel prize winning economist Harry Markowitz is the originator of Modern Portfolio Theory. Modern Portfolio Theory looks at the market as a whole rather than focusing on individual stocks. **End Summary** Topics: cultural creatives]]> investing]]> Peter Cole]]> diversification]]> financial planning]]> portfolio]]> funds]]>]]> About the Author: ]]> Peter Cole ChFC, LCSW, Holistic financial planning. Author: True Self True Wealth. Peter Cole is a representative of Securities America, a registered Broker/Dealer member NASD/SIPC and Securities America Advisors an SEC registered investment advisor. FREE newsletter at http://www.trueselftruewealth.com

The New Investing Paradigm: Mindfulness not Competition

Mon, 23 Jul 2007 00:00:00 -0400

Advances in investment theory have dovetailed nicely with ancient wisdom to present investors with a new and exciting paradigm for investing. These advances, known as Modern Portfolio Theory, were developed by primarily by Nobel prize winning economist Harry M. Markowitz. Modern Portfolio theory emphasizes the importance of disciplined investing that focuses on proper asset allocation rather than on trying to pick winning stocks, or timing the market. Asset allocation is generally defined as the allocation of an investor's portfolio among a number of major asset classes. Markowitz and others in the field of Modern Portfolio Theory have taught us that it is much better to create diversified, efficient, disciplined investment portfolios than to try to beat the market. The way in which asset allocation dovetails with ancient wisdom is that it turns our focus inward rather than outward. It focuses us on our own investing behavior rather than on an endless chase to try to outsmart the market with hot stock tips, market timing and other such lures. **End Summary** Topics: Investing]]> financial planning]]> money]]> personal finance]]> money coaching]]> true self true wealth]]> ]]>]]> About the Author: ]]> Peter Cole ChFC, LCSW, Holistic financial planning. Author: True Self True Wealth. Peter Cole is a representative of Securities America, a registered Broker/Dealer member NASD/SIPC and Securities America Advisors an SEC registered investment advisor. FREE newsletter at http://www.trueselftruewealth.com