In our society, there are two concepts that often come up in discussions about economic and social values: capitalism and materialism. Capitalism is an economic system based on private ownership of the means of production, while materialism is a social and philosophical belief system that emphasizes the importance of material possessions and physical comfort over other values. While these concepts are...
Where can drivers obtain the best gas price for their car? Its impossible to say. Since the price for gas is set by a competitive market, what may be the best price today might be the worst tomorrow. Similar dynamics exist for home & auto insurance. And so, there is never any single insurance company that will always provide the best...
Wealthy people live in mansions, right? Not necessarily. Many wealthy investors in my network live in modest homes they purchased decades ago. These are people with tens of millions and often hundreds of millions of dollars in their investment portfolios. So, why would a wealthy person want to live in a modest house? And, what are the greater benefits of living...
This post provides a step-by-step guide that you can use to implement your own impact measurement process. By the end of this post, you’ll have a template you can use to either implement your own impact measurement framework or use our team to implement one for you. There are three steps we’ll need to take to implement our impact measurement process. We’ll...
Modern family offices have transitioned away from paper records towards digital record keeping using secure e-mail and cloud storage. The result is increased workflow efficiency and the ease of sharing information with professional advisors. But, the transition to online communication and cloud storage also means family offices need to manage the associated cybersecurity risks carefully. This post describes which cybersecurity risks...
Overconfidence shows up as a common investing bias that can drag down our returns. But, merely recognizing our overconfidence can improve our results. This post describes some of the ways that overconfidence fools us and how to overcome it. Overconfidence bias is a cognitive bias where individuals overestimate their own abilities and the accuracy of their beliefs and predictions. This can...
Are you a wealthy investor who's been putting off creating a will? Well, it's time to put your affairs in order and get that will drafted! Not only will it bring you peace of mind, but it will also ensure that your assets are distributed according to your wishes. Here are the top 5 reasons why having a will is...
You’ve fallen in love and choose to live with your partner (without documentation). That was in your 20s. Since then, your investment portfolio has grown significantly. What should you do? Or, maybe you have school aged children. What might happen to them if you die? Or, you’re a retired senior and you’ve lost your spouse to cancer. A few years later, you’re...
As a wealthy investor, you’re likely paying several different professional advisors to help you successfully undertake your wealth management process. Being able to objectively evaluate the cost of the services you’re being provided with is critical to ensuring you’re getting the best out of your team in a sustainable way for everyone involved. This post outlines the type of professionals you may...
Our family office provides management & administrative services to private foundations. Over the years, we’ve realized many private foundations take certain responsibilities for granted. So, when an “unexpected” event occurs (like a CRA audit, death of a board member, change of tax rules) these private foundations scramble to adjust. The result is stress to the family and potentially financial losses...
