What if your net worth was pasted on your forehead for all to see? Would it change the way you spend? Would you still see people buying cars costing more than what they have socked away for retirement?
For an interesting reflection on the taboo subject of money and how the outward appearances of wealth don’t always match reality, read Carl Richards’ article in the New York Times: Living Your True Wealth. The article should spur some excellent discussions with your kids. I love Carl’s napkin graphic too featuring one of my all-time favorite phrases: “Big hat; no cattle.”
Here are my other favorite family finance articles for the month of October: