A Personal Note from Dan Andrews

Are you stumped what to gift family members? Especially family members who buy themselves items versus waiting to ask for the trinket as a gift during the holidays? 

A possible solution: Gift an interview.

A few years ago, StoryCorps released an app to help people craft interview questions and then record their conversations with their smartphones. This app allows you to choose the theme of your interview: grandparents, family members, current events, a significant historical event, and the ability to mix-and-match questions.

I'm lucky to still have three out of four grandparents where I sat down and listened to their stories and then captured their memories. My lovely fiancee and I also interviewed each other to share our thoughts with what its like to live in 2017.

StoryCorps then allows you to save the interview in your own data storage bins as well as the option to upload your interview to the Library of Congress to keep record of your story.

The origin story of this project is pretty incredible and the TED Prize was awarded to David Isay to expand the project. You can listen to his story here: Everyone Around You Has a Story the World Needs to Hear.

Give the gift of an interview with your family members, your opportunity creators, or someone you wish to get to know a little better. It's an amazing experience and you'll never know when you'll revisit this story in the future.

Keep reading for financial tips and a snowman themed corny joke at the bottom of this newsletter.
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Financial Tip of the Month

Topic: What I'm Telling Clients about Bitcoin

"The consistent losers in the market, from my personal experience, are those who are unable to resist being swept up in some kind of tulip-bulb craze. It is not hard to make money in the market. What is hard to avoid is the alluring temptation to throw your money away on short, get-rich quick speculative binges. It is an obvious lesson, but one frequently ignored."

Burton G. Malkiel
A Random Walk Down Wall Street: The Time Tested Strategy for Successful Investing

Tulip-bulbs, dot-com stocks, mortgage-backed securities, and beanie babies. Will Bitcoin join the ranks of these historical bubbles? Time will tell. But I won't have my financial future join that ride. I may be wrong and I'm fine with that because I'll position my financial future on elements that I can control and investments I can understand. 

That's an element of my Investment Philosophy but how do I handle my clients asking bout Bitcoin?

I tell them to invest in it if they really want to. However (you knew a 'however' was coming, right?),  be sensible and boring with 90% of your money for your future - aka grey haired self - and then go have fun with 10% of your assets.

If you want to invest in Bitcoin with that 10% of your money, then go ahead. If you want to spend that money on future vacations, home improvements, or other things. Then that's fine too. See this portion of money as money you're comfortable winning big or going to zero.

We steer clients to not get caught up with the herd mentality and ask these questions to help them identify if Bitcoin is part of their investment philosophy:

  1. Please describe how Bitcoin is an investment for your future self?
  2. Please tell us what Bitcoin is as an investment vehicle?
  3. Are you investing in Bitcoin because you feel like you're missing out or because you feel like its a good investment for your goals?
  4. Are you setting up your future self responsibly or trying to hit a Financial Market home run? What will happen if this investment decision in Bitcoin doesn't work out?

Again, we could be wrong. Bitcoin could replace all government-backed currencies in our future. Also,we may be missing out on the tax-deferred growth if Bitcoin continues its incline. Yet, after years of studying behavioral finance, investments, and money in general, I'll choose to be that boring guy at a cocktail party not talking about Bitcoin. I rather talk about corny jokes anyway!

Make 2018 Your Financial Review Year!

A short video explaining this challenge here

Commit to making 2018 the year you understand your money and also become proactive about your personal finances!

Work with Well-Rounded Success for education, action steps, and accountability! You'll be proud of yourself for getting lots of "Adult" tasks done in one year.

Learn more by seeing our programs and our prices on the Well-Rounded Success website: Our Financial Planning Programs.

Here's an idea: ask for one of these programs to be your holiday gift! Money confidence sounds better than a gadget or socks!

Financial Quote of the Month

"Things like spending more time with the family, having more integrity in one's life, being more creative, taking more time for spiritual growth - these are far less expensive than a second home."

George Kinder, CFP® and Susan E. Galvan
Lighting the Torch: The Kinder Method™ of Life Planning


Well-Rounded Success Around The Web

Selected as the the Lead Article for XY Planning Network's blog
Good Financial Reads: Investing 101

Answered money questions with other Colorado Financial Planning Association members on
Denver's Channel 9: MoneyLine9

Quoted in Investor's Business Daily article
Extract Meaningful Input from Your Clients

Throwback Well-Rounded Success Article
4 Troubling Family Money Issues

What do you want to read? Give me a recommendation on what kind of articles you want to see: Submit an Idea

"Be the type of person you want to meet."

Dan Andrews

Leader and

My goal is to make Financial Planning fun!

Learn more how I do this here:
High Five!
Here's a breakdown for the ideal person to join Well-Rounded Success so we can help young people with Financial Adulting!
  • An Analytical Mind for Business Development
  • Current Skills - or Determined to Obtain Skills - in:
    • Taxes
    • Compliance
    • Accounting
    • Operations
  • Strong personality to contribute, self-start projects, keep us on-track, and complement Dan's skills.
Please Contact Dan to learn more.

Corny Joke Reward

What did one snowman say to the other?
Smells like carrots :-D

Please help us grow our community of self-motivated millennials by forwarding this newsletter to others who might be interested!
High Five!
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