Tender Money Conversations
You may have found, like me, that your ability and desire to read anything except for the back of the cereal box has diminished significantly. That’s okay – the written word will still be ready for you when you’re ready for it.
I happened to be ready for it this month, and found some real gems I’d like to share, including:
- A guide from psychologist and executive coach, Dr. Moira Somers. She discusses having respectful, productive, and tender money conversations with those closest to us, especially now when they’re, like literally close to us, and tenderness takes extra effort.
- The fine distinction between a forecast and an expectation from Morgan Housel, and how it can help us get through a time when we really have no idea what will happen next.
- An analysis of how COVID19 is underscoring the already critical need for high-quality, affordable, and flexible childcare, planned for and treated like the essential service it is.
If that’s not enough, there’s a whole list of other reads to dig into (Nine! I counted!), including:
- The point/counterpoint of virtual museum tours you can take and
- Why they might not be as satisfying as you hope
- Lessons from the Barrie Tornado on structuring social assistance so those in need get actual help
- How journalism may be getting a little more comfortable reporting on evolving, provisional stories
- A reflection on how Warren Buffett (and the response to him) has changed
- An overview of provincial economic responses to COVID19
- Timely reminders that not every call has to be a Zoom call
- Uncertainty and humility should always go hand-in-hand when it comes to your investments (and life), and
- How the many big and small losses we’re all experiencing can teach us about what’s important when it’s time to plan for the future
From Dr. Moira Somers
Time spent with family while we practice physical distancing presents us with the opportunity to have tender money conversations.
“The end result of this financial stress is often an increase in conflict. With everyone feeling a little more ragged and tense than usual, it is all too easy to let loose with harsh pronouncements and critical commentaries. Researchers have been telling us for some time that marital conflicts about money have the potential to be especially damaging. Financial disagreements are associated with nastier fighting techniques and poorer relational outcomes. That’s why the tincture of tenderness is essential today.”
Read the full article here.
You can read this month’s entire list below, and browse through past lists here.
“If there are many uncertain variables swirling around, your job is to ensure that your plan can still work even if those variables don’t play out as you’re expecting them to.”
“If, by this point, daily visits to Puerto Backyarda and New Kitchen are feeling repetitive, take comfort that there are ways to escape, at least virtually, with famous tourist sites offering online visits—almost all of them, free.”
“Beyond whatever technical issues there are, fundamentally, these activities aren’t satisfying because they’re based in a denial of the present moment.”
“Journalists pursue facts and their readers rely on accuracy, which are smaller, related concepts that are easier to measure.”
“I would have given anything to have been able to change the property compensation model we were handed by the government. Poor people lose little property but do lose access to programs. Rich people lose property and don’t qualify for programs that disallow wealth. Those two simple facts mean that compensation programs must always adjust their designs to meet need in order to work well.”
“Berkshire Hathaway as a quasi-religious institution for capitalists just fading away like this…it’s so anti-climactic. Unsettling.”
“This post looks at provincial/territorial economic responses on top of the federal supports (although the response in the territories has been fairly limited). What follows is not intended to be a comprehensive inventory of all provincial measures, but it highlights the major initiatives and key differences across provinces.”
“Our thought bubble: Not everything needs to be a Zoom meeting. Phone calls still work fine too.
“The bottom line: Once you tire of certain things, it means that you are tired of life.
“Samuel Johnson famously said that about London. No one has ever said it about videoconferencing.”
“Investing doesn’t need to be overly complex in order to meet your identified financial planning goals. In fact, your investments should be boring; it is your life that should be interesting.”