To Renew or Not to Renew (I ❤ Weddings Series #10)

One of my favorite Behavioral Economists Dan Ariely was asked this question, “What’s the best way to improve the quality of marriages? And this was his answer: The No. 1 enemy of relationships is being taken for granted. So I would set up marriages to expire automatically every five years and be renewable only…

Asset-Rich But Illiquid Parents

Question: Hi Rose. My parents are asset-rich but not liquid. Now that they’re old, they need more cash for their medical and other needs. I’ve suggested to them that they sell some of their real estate properties. For one, their house has become too big for them. However, they are not happy with that idea. They also say that they want to leave something for us to inherit so they’d rather not. How can I convince them?..

“The Irrational We!”

I graduated with a degree in A.B. Economics in the mid 80s and the very premise of all my Economics subjects is that human beings are rational. We make our choices based on a rational decision process that maximizes utility, minimizes costs and risks, based on available data. And because of this, our institutions…