Carl Richards, director of investor education for the BAM ALLIANCE, explains in his book The Behavior Gap on the difference between financial planning and life planning:
“I spend a lot of time talking and writing about worst-case scenarios: investors behaving badly, people losing their retirement, and so on.
But let’s not forget why we’re so focused on our financial security. We want to be happy, and to provide a good life for our loved ones.
This sketch is one of my favorites, even though it doesn’t say a word about money. When I get up in the morning, I try to remember what really makes me happy — great experiences with the people I love. When I use that goal as the baseline for my decision-making, it becomes a lot easier to focus on the things that really matter when it comes to investing: things like working hard, saving a lot, and behaving wisely.”
About the Artist
Carl Richards is the director of investor education for the BAM ALLIANCE. He advises on best practices, marketing efforts and social media.
Carl is the author of The Behavior Gap and a regular contributor to The New York Times. Known for his simple sketches that capture complex investor behavior, Carl’s work has been featured in The Wall Street Journal, Financial Planning and at lifehacker.com. His work originally appeared on BehaviorGap.com.
Carl holds a bachelor’s degree in finance from the University of Utah.
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