Why Smart People Do Stupid Things with Money: Overcoming Financial Dysfunction

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Sterling Publishing Company, 2007 - Business & Economics - 230 pages
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Every year since 1994, Worth magazine has named Bert Whitehead among the "Best 60 Financial Advisors in America.” His unique "behavioral finance” approach goes beyond mere number crunching to help people understand and overcome the complex psychological baggage they bring to their financial decisions. Tested and confirmed by hundreds of Bert’s clients--including celebrities such as Andrew Weil, M.D., who wrote the foreword for the book--this system shows readers how to identify areas of financial dysfunction and offers specific strategies designed to help different personality types achieve financial freedom by working with their own natural inclinations.
 

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Contents

Financial Freedom
8
How We Help
9
Financial Complications
11
The Good News
14
What Is Financial Dysfunction?
15
Springboards of Financial Dysfunction
17
Time to Change
21
Your Financial Personality
22
Visualization Exercise
86
The Financial Life Cycle Benchmark Yourself
90
Understanding How the Game Is Played
92
The Formative Years
93
The Accumulation Years
103
The Conservation Years
142
The Largess Years
151
Functional Asset Allocation A Simple Sensible Strategy
161

Know Thyself
23
Extreme Personality Types
27
More Common Personality Types
34
The Limitations of Any Model
40
The Symptoms of Financial Dysfunction
43
Seven Symptoms of Financial Dysfunction
45
SelfExamination
56
Tailoring Your Finances to Your Situation
57
Asset Allocation
59
The Journey
60
Risk and Reward
61
Your Financial Plan
66
Your Income
68
Appropriate Risk Exposure
70
Information and Knowledge
73
Your Own Road Map to Financial Freedom
81
The Three Asset Categories of Functional Asset Allocation
163
The Analogy of the Farmer
165
The Cambridge Pyramid
167
Structuring a Portfolio Using Functional Asset Allocation
172
Now Its Up to You
200
Where to Find a True FeeOnly Personal Financial AdvisorFiduciary
205
How to Evaluate a Personal Financial Advisor
211
Where to Start Looking
215
How to Become a True FeeOnly Personal Financial Advisor
220
Who Is Suited to Be a FeeOnly Advisor?
221
What Will You Need?
223
Suggested Reading for Aspiring Planners
224
About the Author
225
Index
227
Copyright

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