Posts by SCOTT WELLENS

David Booth—the Co-Founder and Executive Chairman of Dimensional Fund Advisors—recently penned an article entitled, “What’s Your True Net Worth?” Here is the thing—your true net worth is not a calculation of your wealth. It stems from what you value. Find out what I mean in this episode of the Best in Wealth podcast! Outline of…

According to CNBC, 56% of Americans can’t cover a $1,000 emergency. They do not have enough money in the bank. If that is you, start building an emergency fund now. Dave Ramsey recommends saving $1,000 in the bank immediately. Then, you take any extra money you have and pay off your debt. After that, work to…

I have received many calls and questions from clients, friends, and family about how bad things were in 2022 and what they think is going to happen in 2023. I do not blame them. With the global pandemic, rapid inflation, the war in Ukraine, and the volatile stock and bond market, it is reasonable to…

In the article, “The Art and Science of Spending Money,” Morgan Housel talks about the psychology behind spending money. I’m going to talk about the six points she made that hit home for me. Why? Because we need to understand why we are spending. I am a financial advisor. I want you to save money. But…

Think back to December 2019. Unemployment, interest rates, and inflation were historically low. Then what happened? A pandemic. By the end of March 2020, the S&P 500 had dropped nearly 20%. By the end of the year, scientists had developed a vaccine and markets roared back. Facebook, Apple, Amazon, Netflix, and Google (FAANG) stocks soared.…