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Ross Levin

Columnist | Your Money
Ross Levin is founding principal and president of Accredited Investors Inc., Edina, a fee-only wealth management firm. His Gains and Losses column runs on the fourth Sunday of the month. A compilation of these columns can be found in his book, "Spend Your Life Wisely." Send emails to Ross@accredited.com
Recent content from Ross Levin
FILE - In this Jan. 16, 2020, file photo, an investor monitors stock prices at a brokerage in Beijing. Several factors are pointing to a possible rebo

Some financial planning steps to take now in this economy

While economists might lack prescience with their forecasts, they still provide valuable insight into our money moves.
Asking questions instead of jumping right to a solution can help you make sound financial decisions.

Ask questions instead of jumping to solutions

Rather than focusing on making a financial decision, explore questions that can help you determine what is really worth your time and money.
Disordered thinking can lead you to making poor financial decisions.

Disordered thinking can lead you to making foolish financial decisions

Focusing on a dollar amount is disordered. What is important to understand is what that dollar amount represents to you.
Photo of a collection plate in a church.

Religious ideas can help guide your secular financial planning

Saving is an act of faith, investing for an uncertain tomorrow with a belief it will create a better future.
iStock image of a couple making financial decisions.

'Decoupling' isn't just about relationships; it can be used in your finances, too

Money can be complicated, but decoupling your financial decisions can make it less so.
Whether you’re selling your house or crafting your will, make sure you are being realistic about your life circumstances in managing your money.

Don't let 'what was' keep you from 'what is' when it comes to financial decisions

Whether you're selling your house or crafting your will, make sure you are being realistic about your life circumstances in managing your money.
Stock market or forex trading graph and candlestick chart suitable for financial investment concept. Economy trends background for business idea and a

Think like an investor, not a speculator, to make money

When you want to start spending money from your accounts should determine the way you choose to invest them.
Loring Park Gazebo, overlooking Loring Lake near the Irene Hixon Whitney Bridge, 15th St. and Hennepin Av. S., Minneapolis. Dedicated in 1993, the blu

What poetry can teach you about your finances

T.S. Eliot's poem "East Coker" has solid advice for managing money.
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Isometric small house and green dollar sign on weight scales. Balance, price, real estate and home concept.

Consider the process, not just results, when making financial decisions

A good outcome with a bad process is simply luck.
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Couples should plan, and dream, about money together

If one person makes the decisions, they could be short-sighted and also devastating to the other.
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Advice to graduates: Seek work-life harmony, not balance

If you want to have a career rather than a job, forget about work-life balance and embrace work-life harmony, which is recognizing at different times in your life, you will have to work harder at the expense of other values and vice versa.
If you are asking if you have enough money: You don’t.

How do you know when you have enough money?

Having enough is not an amount. It is a perspective.
U.S. President Barack Obama awards the Presidential Medal of Freedom to psychologist Daniel Kahneman in the East Room at the White House on Nov. 20, 2

Eliminating emotional behaviors leads to sounder financial decisions

The work of recently passed Nobel laureate Daniel Kahneman helps illuminate how emotions can interfere with rational decisionmaking.
Unless couples talk about money, they are bound to make incorrect assumptions and experience negative emotions and stress. (Dreamstime) ORG XMIT: 1266

Assuage your money stress through family communication

What you can do that has proven useful in harnessing the money beast.
A man and woman walk their dog along a path at sunset.

Don't let fear of financial regret deter you from a fulfilling life

Financial planners help their clients see what is possible while balancing living today and preparing for tomorrow. But not knowing how many tomorrows you have can create too much emphasis on an uncertain future.
Kansas City Royals catcher Nick Dini (33) was out at second as Minnesota Twins shortstop Jorge Polanco (11) was unable to turn the double play off a s

What the Minnesota Twins can teach you about managing money

As a middle-market MLB team, the Twins have a lot in common with the average person trying to spend and save optimally.
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Over-preparing for the recession that wasn't

It appears that a full-blown recession has been avoided, but the cost of this for investors has been potentially being too conservative too soon.
In this Aug. 8. 2011 photo, a Wall Street sign hangs near the New York Stock Exchange, in New York. Stocks tanked again Tuesday, Aig. 9, as many globa

Should an election year change your stock market strategy?

Elections matter for policy reasons, which can impact corporate profits, which can impact companies' values, which can impact one's moves on the stock market.

Do not overlook the value of stopping

Take your time and rethink your habits when it comes to financial planning.

What pickleball can teach you about financial planning

Keep these three lessons in mind.
Like many personal finance issues, there is no one right answer.

Identifying a touchstone word for the year may help you focus on your finances

Let's explore the many facets of a particular word in our financial lives: want.

You can stay in your home as you age, but should you?

Financial planner Ross Levin walks through why it might be a good idea to move out sooner than later.
Paul McCartney was not dead, when rumored, and nasty rumors about investing are just about as accurate.

Don't believe these investing rumors

Simple strategies spark life in investing.
A directive can spell out your wishes regarding life support, pain management and where you want care. 

The must-dos for retirement, including a medical directive

In financial planning, there are only a few things that you absolutely have to do. Including establishing powers of attorney, making a will and naming your beneficiaries.
Harry Markowitz won the Nobel Prize in economics for his work that we today refer to as portfolio optimization. Essentially, he theorized that you sho

The true benefits of diversifying your portfolio to allot for risk

You may give up some short-term performance, but it is much safer than pedaling against the traffic.
At the end of a year, investors should assess their deeper motivations, fears and goals.

Ross Levin: After a sour year in stocks, focus on understanding your fear and greed

Did the falling markets affect more than they needed to?
Bell ringer or not, it’s the time of year when people search their conscience as they encounter charities like the Salvation Army more frequently.

Ross Levin: Giving feeds our soul, so why do we worry about it so much?

When you give, you are telling yourself that you have enough.
Columnist Ross Levin says that when parents do things that they feel their children are taking for granted, parents may be the ones acting entitled.

Levin: How parents can get twisted around on entitlement

Parents need to ask: Am I modeling entitlement or gratitude?
With the election done, it’s time to take a breather from politics and recognize that economic choices are always about more good than bad rather th

Ross Levin: Taxes are fair and unfair, debt is good and no good

Life is complex and it'll be nice to put aside the political caricatures for awhile.
It’s easy to second-guess your investment choices when the markets are down.

Levin: Silence the investment critic in your head

Turn that critical voice into something more productive.
There are ways to earn more on your cash than a traditional savings account.

Levin: This is the exact moment to put cash to work

It's surprisingly easy to get a better return with your cash than a savings account provides.
Getting too fixated on a target price, or financial goal, can trap investors into inaction.

Levin: Don't become 'anchored' in your financial expectations

There's a risk to become tied to an idea or price that doesn't really matter.
Incentives are so influential on choices involving money, but there are hazards within them that people may not see.

Levin: Incentives are powerful, but they can also pose hazards

Incentives usually drive big monetary decisions, but they can be misleading too.
The midway is the meme stocks area of the Minnesota State Fair.

Levin: Some people go to the State Fair and see their financial life in front of them

What you can learn from a stroll around the fairgrounds with ideas of money in your head.
Sometimes people say things about money that are quick and brusque.

Levin: When talking about money, many people could use a do-over

Sometimes people blurt out uncomfortable feelings about a financial situation. Here's to second chances.
In the search for a good financial planner, the question to be answered is “Does the planner understand you?”

Levin: What your financial planner should be asking you

The key question to be answered is: Does the planner understand you and your family?
The stock market has been a real lemon this year.

Ross Levin: Four things you can do with your stocks in this bear market

Use losses for tax savings, rebalance what's moved off your plan and other ideas for a market that's a lemon.
The decision to buy a house can be shaped by studying a chart.

Levin: Even with prices and rates rising, the equation for buying a home stays the same

Mapping out your time horizon and asset direction will help you decide whether it's better to rent or buy.
In Buddhist teachings, the concept of “near enemies” is a subtle way of understanding risk. File photo of a Buddhist mandala artist.

Levin: What a Buddhist concept can teach you about your finances

The notion of 'near enemies' can illuminate financial attributes or traits that seem appealing at first but turn out to be problems.
In a time of uncertainty, taking action can feel good, but can lead to more problems if not well thought out.

Levin: Action feels right at a moment of economic uncertainty, but it may not be

You can't have a victory if you are playing the wrong game.
A Tickle Me Elmo doll, shown in a 1996 file photo. At the time, its maker was air-freighting shipments in from China after being caught off guard by s

Levin: What Tickle Me Elmo can teach you about economic bubbles

The concept of bubbles is an important one for investors, especially those who are trying to make big decisions about real estate and cryptocurrency.
Keeping the big picture in mind is always a challenge for investors.

Levin: Moving south part of the year to avoid Minnesota's tax — and other money mistakes

One of the hardest things to do in investing, and life, is to keep the big picture in mind.
Levin: Crypto, losses, capital gains? How to think about taxes in investment decisions

Levin: Crypto, losses, capital gains? How to think about taxes in investment decisions

Avoid the investment mistake pro football player Trevor Lawrence made that cost him millions in taxes.
The kids’ game “Would you rather?” can help adults illuminate their financial options.

Levin: Playing 'Would you rather?' with your money will teach you a lot

The kids' game about competing choices holds surprising lessons for adults and their money.
Wealth is something you can’t see. Once you see it, it’s gone.

Levin: We're all paying the volatility tax right now

Once you see wealth, it's gone.
In retirement, there are two major investment risks: volatility and inflation.

Levin: In retirement, there are two investment risks and both are happening now

Inflation and volatility are the challenges to retirees' assets at the moment they are most needed.
The lake lifestyle is so alluring that Minnesotans will let emotions get in the way of cost/benefit calculations.

Levin: Why emotions often overtake personal financial analysis

When money decisions turn emotional, people tend to put weight on the wrong things.
Market volatility is unnerving to many investors, but it’s a good time to assess your tolerance for risk. Pictured: the Nasdaq Market in New York.

Levin: The market has turned, so do what you always should

Take the appropriate amount of risk based on your situation, not the unknowns of the market.
At a certain age, it’s time to plan for the end.

Levin: The last challenge in planning your finances is one of the hardest

For people of a certain age, there's no time like the present to plan for the end.
To increase your wealth, learn what matters and what doesn’t.

Levin: Let's play 'Ignore it or deal with it' with your money

Here are some simple ways to know what matters and what doesn't with your finances.

'The Great Substitution' applies to your investments, too

You can find substitution occurring everywhere — and this affects your life and your finances.
Sleights of hand can make us question our own reality even when we know we are being tricked.

Levin: Watch out for the tricks of wealth

Investment advisers and clients sometimes engage in financial sleights of hand.
The dilemma resurfaces annually as charities make their holiday and year-end appeals: How much should a person donate to charity?

How much should you give to charity?

There are basically five overlapping reasons why we give.

Levin: We all want certainty in our personal finances, but there is science involved

The precision of math can deceive investors, when there are too many influences on the outcome of investments.
President Joe Biden with senators in June after the bipartisan group reached a deal on infrastructure spending. The measure is stuck in the House.

Levin: When that infrastructure bill passes, the tax consequences will follow

For some businesses, it's best to defer some tax payments until the dust settles.
The wrong map got some troops out of the Alps years ago, a lesson that works for people as they plot out their finances, our columnist says.

Levin: What to do when you want to change your life but can't quite see the picture

A recent book about the pandemic holds lessons for approaching your finances and planning.
The comparison of renting vs. owning a home is not as simple as you may think. Shown are single-family rental homes in Plymouth.

Levin: People underestimate the costs of owning a home vs. renting one

The comparisons often exclude opportunity costs and the time spent on upkeep.
Hart, the Levin family’s collie, who likely could not save humans from quicksand or drowning.

Levin: Don't expect a savior like Lassie to rescue your retirement finances

Only you can save yourself from an investor's worst tendencies: fear and greed.
On paper, all assets and liabilities look equal. But that’s now how real life works.

Levin: Excited by rising house values? Some of your other assets may be more important

Not all assets and liabilities are equal. Here's a way to evaluate them beyond their numeric value.
To understand motivations, ask the opposite question to the one you’re now asking.

Levin: Ask questions in a different way to zero in on financial motivations (and others)

To understand yourself, sometimes you might need to make an Opposite Day.

Look for the lessons in life's financial losses

Jammed closet? What you need probably isn't more hangers.

Crowded closets? Time to take a hard look at how they got that way

The lesson: Spend your life wisely.
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Uncertainty clouding your money moves? Here's how to sort things out

Why it can make financial sense to allow yourself to feel sad

With a lot of tough stuff going on, if we don't experience our feelings, if we simply push ahead and stay positive, the consequences can follow.
People set goals

Are your financial decisions working out? Don't be afraid to revisit and revise them

Things to consider when you are ready to retire

The pandemic may have accelerated plans, leaving you feeling unprepared.
Jar full of money in hands. Saving money concept

It pays to focus on how your money will support your values

Rather than focus on what your money can do for you, let's talk about what you can do for you.

Want a better life in 5 years? Here's how to get started

One Hundred Dollar Bill With Medical Face Mask on George Washington.

When will things get better? 3 keys to getting past this

We know that transitions have beginnings, middles and ends, but they don't always occur in that order.
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In times like these, it's a sound financial strategy stick to little things

Here are some that you can do that may buy you some time until things eventually stabilize.
A currency trader works at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, June 26, 2020.

Want to get back into the stock market? Here's one way to do it

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We don't know when this will end, so we must deal with the now normal

The Kwai Tsing Container Terminals in Hong Kong on April 7, 2020. The coronavirus pandemic may prompt some countries to reexamine their reliance on fa

To improve your resilience, take time to improve your supply chain

Only three things can get you through work stoppages — government support, your ability to borrow, and your personal savings

Scarcity is playing a big role in our lives right now. Here's how.

Scarcity creates this tunneling effect where we are laser-focused on only one thing.
An opinion affects strategy.

Our opinions often guide our investments, and that can be costly

When an opinion leads to strategy decisions, how can you reduce the expense of the mistake?