Category Archives for "Wisdom"

Jul 08

Who’s Afraid Of The Big Bad Wolves?

By Wagner Richard | Wisdom

You probably emember the story of the three little pigs. To reprise the Disney cartoon version, they started off as three young porkers with ambitions to construct their very own personal residences.

Presumably, as a rational porcus economicus, each wanted to maximize his utilities. Each wanted his house to give him privacy, shelter, comfort and protection. They each wanted efficiency—at the lowest possible price point but consistent with their personal goals and tastes. For example, one little pig, the environmentalist, built his house of straw (thus employing a common, renewable resource while efficiently utilizing carbon and minimizing his heat bills). Another, the cheapskate, used mere twigs as his primary construction material. Twigs were available off-market. The material was cheap and easy, but it was also vulnerable to attack and deterioration.

Continue reading
Jan 08

We Need Better Words …

By Wagner Richard | Wisdom

Our words need to address the relationship between money and the other important aspects of our lives.
By Richard B. Wagner

The limits of my language mean the limits of my world.
—Ludwig Wittgenstein,
Tractatus Logico-Philosophicus

It was a gathering of fine minds, successful practitioners and open hearts. Demographically diverse, different in practices, attitudes and philosophies, each was devoted to the emergence of an excellent financial planning profession and individual financial health.

Continue reading
Mar 08

Financial Metaphors: Mechanic, Organic Or…?

By Wagner Richard | Wisdom

My, how we talk. Trouble is, how we talk reflects our thinking. Our thinking morphs into actions. And our actions pretty much mirror our personal and communal interiors.

Our talking tools include metaphors. Metaphors are fundamental, vital words; compelling, simplifying models. By structuring perceptions, they enable sensible comprehension of surrounding complexities. As a downside, they control and limit our vision. Therein lies an issue for thoughtful money workers. Regrettably, not only are our money words inappropriate for our current understanding of money’s function, they are unsuitable for money’s continued evolution.

Continue reading
Jan 08

Interior Finance

By Wagner Richard | Wisdom

Polite people don‚t talk about money or their relationships with it. Personal priorities, love, feelings, values, psychology, spirituality in a financial context? Please. It is just not done. Privately. Or publicly.
By Richard B. Wagner

Financial advisors need to take clients beyond the numbers.

Continue reading