Welcome!

Business Ownership and Wealth Management

Dana Barfield

Subscribe to Dana Barfield: eMailAlertsEmail Alerts
Get Dana Barfield via: homepageHomepage mobileMobile rssRSS facebookFacebook twitterTwitter linkedinLinkedIn


Top Stories by Dana Barfield

This time of year is a favorite for children of all ages – I happen to be one of these kids – in part because of the television programs that are shown around Christmas. A Charlie Brown Christmas, Santa Claus is Coming to Town, Rudolph the Red Nose Reindeer, and How the Grinch Stole Christmas, have been favorites of mine since TV went from exclusively black and white to poor quality color. This is no coincidence as these programs were made in the mid 1960’s. As I was watching this year, it occurred to me that if at this time in history Christmas had not yet been established, if somehow Christmas needed to be “started” in 2009, it wouldn’t stand a chance. Christmas would be doomed before it ever got started. First of all, the only time you can say Jesus Christ anymore is when you hit your thumb with a hammer. You can’t mention Him at City Hall, you can’t display a crè... (more)

A Little Encouragement...

I am not sure the origination of this quote, but it certainly is timely: "Hard work: All hard work brings profit; but mere talk leads only to poverty. Earnings: Never depend on a single source of income. Spending: If you buy things you don’t need, you’ll soon sell things you need. Savings: Don’t save what is left after spending; Spend what is left after saving. Borrowings: The borrower becomes the lender’s slave. Accounting: It’s no use carrying an umbrella, if your shoes are leaking. Auditing: Beware of little expenses; a small leak can sink a large ship. Risk-taking: Never test the dept... (more)

Who’s Looking Out for (You)

What do you expect from your doctor? Simply, that he/she will diagnose, test, prescribe, and treat what is in your best interests, period. In 1910, Dr. William J. Mayo told the graduating class of Rush Medical College, “The best interest of the patient is the only interest to be considered”. Interestingly enough, this quote appears today on the Mayo Clinic Web Site (A close friend and family member of ours works there). Should you expect a financial advisor to also “do what is in the best interest of the [client]”? Surely Bernard Madoff is the exception - simply the bad guy in an... (more)

I’m Basically A Whore

Wealth Management on Ulitzer These words remain very clear in my mind, but they were shocking to me (as they probably are to you) the first time I heard them. In fact, when the man made this statement to me, it took me so far aback, that he had to repeat them. “I’m basically a whore,” he says sheepishly and with regret in his voice. Of course I said, “What to you mean?” The man who made this statement was the Michigan based marketing head of a money management firm headquartered in Connecticut. He was responsible for bringing new money into the firm for investment. He didn’t manage... (more)

S & P Downgrade of the U.S

Let’s make clear what is happening today, what relationship this bears to the Standard & Poor’s downgrade of the U.S. financial system, and how it affects your plan for retirement. There is some legitimacy to the concern over the debt rating reduction. For as long as anyone can remember the United States of American has been the gilt-edged standard of financial wherewithal and responsibility (70 years to be exact). To be downgraded, though somewhat symbolic, is a shock to the system. S&P’s concern is the amount of debt we now have; in excess of $14.5 trillion today, which is $ 4 ... (more)