It’s March Madness – Are Money Decisions Like Picking An NCAA Basketball Winner?

With the first big day of March Madness tomorrow, we all have our brackets filled out and ready to go with our Final Four picks.   This year is sure to be filled with some Cinderella stories along with some dominant favorites making their way down the brackets to the eventual winner. While we all get focused on the office pools, March Madness can really teach you some great money lessons to help you make more smart money moves for the rest of your life. When two teams compete in the NCAA tournament beginning with the total of 64 (now 66) teams that make the tournament, they each get a line in a bracket.   Bracketology is the process of predicting the field of the NCAA Basketball Tournament, named as such because it is commonly used to fill in tournament brackets for the postseason. It incorporates some method of predicting what the NCAA Selection Committee will use as its Ratings Percentage Index ...

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Five Money Lessons From March Madness

With the first big day of March Madness behind us, day two is sure to give us some other memorable buzzer beaters for the years to come.  While we all get focused on the office pools, March Madness can really teach you some great money lessons to help you make more smart money moves for the rest of your life. Defense is more important than offense – People I have met over the years are often chasing the investment that they believe can give them the greatest return.  This can be a risky stock, a piece of real estate, or some private equity investment. In additional as many people approach retirement, they continue to have the lion’s share of their money in the stock market. Pulling back your risk when you get closer to your goal or when you get older in age are important defensive strategies that can help you win games versus always thinking about offense. Making a ...

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