Scott Burns is the pen name for Robert Burns. As a syndicated newspaper columnist and author he has covered personal finance, investments and economics for over 40 years. He is best known for creating the “Couch Potato Portfolio” investment strategy, which advocates the use of index funds over managed funds or stock picking.[1] In 2006, he retired from the Dallas Morning News to co-found the Web startup AssetBuilder. The registered investment advisor firm now has over 1,200 clients in 43 states and manages $800 million in assets. He retired from the firm and syndication in early 2017. After a year of retirement, he created this website, his latest effort to bring financial confidence and success to as many people as possible.
Education
Burns graduated from the Massachusetts Institute of Technology with a degree in humanities and biology (1962). While at M.I.T. he studied creative writing with poet Archibald MacLeish at Harvard.
Career
Burns began his career as a newspaper columnist at the Boston Herald in 1977 where he was also the financial editor. The column was nationally syndicated in 1981 and was distributed by Universal Press Syndicate.[2] In 1985 he joined the staff of The Dallas Morning News where his column became one of the most widely read features in the paper. Retiring as a Dallas Morning News staff member in 2006, he continued to contribute to the paper through his ongoing syndication until he retired in 2017. More recently, he has returned to the Dallas Morning News as a contributor, providing the columns you read here.
Financial Writing
Burns’ first book, “Squeeze It Til’ the Eagle Grins: How to spend, save, and enjoy your money,” was published by Doubleday in 1972. Rooted in the lifecycle hypothesis, the book was published a year before the first Certified Financial Planner designation was awarded.
His second book, “Home, Inc.: The Hidden Wealth and Power of the American Household” was published by Doubleday in 1975. It was the first popular examination of the non-money economy of families. It demonstrated, among other things, that technology was moving an ever-increasing amount of economic activity into the household.
In December 2001 the National Center for Policy Analysis published a paper Burns co-authored with Dallas benefits attorney Brooks Hamilton titled, “Reinventing Retirement Income in America.” The paper was influential in advocating automatic enrollment, automatic increases in contributions, managed accounts, and little or no company stock, all of which have been adopted by many corporate retirement plans.
“The Coming Generational Storm” (MIT Press, 2004) was co-authored with Boston University economist Laurence J. Kotlikoff. The book was endorsed by five Nobel laureates, listed as one of the 25 best books of 2004 by Barron’s, and named one of the top 10 business books of 2004 by Forbes. The book warns of a worldwide generational financial crunch and advises investors on how to protect themselves.
Kotlikoff and Burns’ second book, “Spend ‘Til the End,” presents new ideas in financial planning based on consumption smoothing. The book was published by Simon & Schuster in June 2008 and is now available in paperback.
Kotlikoff and Burns’ third book, “The Clash of Generations” (MIT Press 2012) focused on the rapidly developing collision between entitlement promises and the ability of our children and grandchildren to carry the burden.
Always interested in reaching a wide audience, his articles and columns have appeared in publications as diverse as Vogue and Organic Gardening, as well as Boston, New England Business, Private Clubs, Playboy and Harper’s Bazaar.
Personal
Scott and his wife Carolyn have lived in Texas Hill Country since 2009, first in Dripping Springs and, now, Johnson City. Their actual location is closer to Pedernales Falls Stage Park than anything as urban as Johnson City… They are delighted to have a son and daughter living within 1000 feet on wildlife preserve land. Another son and daughter-in-law, with three more grandchildren, live in Dallas.
In addition to sailing and almost anything to do with salt water, Scott is a member of the Philosophical Society of Texas. He is also a board member of Homeward Bound, Inc., the largest provider of detox and recovery services for the indigent in north Texas.