'Congress: SHAME ON YOU!'

57)  Congress: SHAME ON YOU!

I

f they were children they would have been given a ‘time out’ or a spanking.  If they were high school or college students, they would have been suspended or expelled.  If they were professional athletes or investment professionals, they would have been evicted and, maybe, banned for life; they, themselves, would have been having hearings.   If they were Employees at Will, they would have been fired.  If they were military personnel, they'd be demoted or even thrown in the brig.  In another country, they may have been overthrown or assassinated.

            Indeed, according to a New York Times columnist, a record number of politicians went to jail in 2012.

            They managed to destroy our credit rating, which made the US Government the safest investment on Earth.  It was thought so due to its power of taxation, never having paid interest late, never having defaulted on a debt, and, loosely, its supposed ability to ‘print money’.  Now there are for-profit corporations rated safer, and their responsibility is to their stockholders!  There's no transparency, and our civil liberties are smothered.  There was the Fiscal Cliff, tax change (the type I expected and to our benefit, but after such bickering) and now the Sequester.   Voters and residents are confused, upset, depressed, disillusioned, and demoralized, and Americans are forming militias and becoming Doomsday preppers.

            It seems as if we’ve switched from one step forward, three steps back, to one slow step at a time.  At least, the stock markets think so.  Employment’s slightly up, we’re most of the way through the winter, some holidays are approaching, and American morale may be a little better.

            But, it's still the other Golden Rule: 'The One with the Gold Makes the Rules'.  Money is so strangely intoxicating.

Many continue to suffer, whether it's not knowing how much tax to have taken out of their paycheck, or about unemployment, or having lost their home due to business & financial collapse or weather.

            Congress has become a childish power struggle, dividing the Union like the Civil War for which our entire society shall pay and suffer.  One of my friends also thinks it's racist.  It’s something we must overcome immediately before it escalates and something horrible happens; they are supposed to be working for us.

            How long are we going to trust them?  How far are we willing to trust them?  We can kick the out at election times.

            Should it return to being a volunteer position like when we were founded?

            When you look at the lists of the cities on Earth to live (based on factors such as happiness, healthcare, infrastructure), it's becoming more plausible to leave the US.  There's a whole community of older brothers and sisters out there from whom we can learn and with whom we can enjoy life.  So many speak English, balance work & play better than we, have excellent technology & infrastructure, are less crowded, and have daily flights to the US.  Some are much less expensive - further bettering your quality of life.

            Do you have a financial plan?

            Who's your Trusted Family Advisor®?

           

www.WomenAndMoney.TV

'Income Tax Reporting - Your Patriotic Duty'

56)  Income Tax Reporting

- Your Patriotic Duty



I

ncome taxes are your patriotic duty.  It's just a shame it's so complicated.  And there's so much waste, and everybody tries to rip off the system rather than feeling they're supporting a government that provides valuable services to them.

            Other countries, such as Sweden, see millionaires returning out of patriotism, because they feel the way I want to feel.

            Nevertheless, we have to settle up on April 15th.

            A tax return is built from the bottom, up.  Information on lower pages, feeds information to middle pages, and eventually, everything gets summarized on the top two pages, of some version of the IRS Form 1040.

            You want to become familiar enough with ‘constructing’ a Return to take advantage of every tax saving tactic you can.

            On average, we all pay between 15 and 50% of our income in taxes.  You can't consistently earn that much on investments, so your first, best investment should be in tax management.

            Learn about what you can deduct (i.e. Adjustments, Deductions); learn about Credits.

            If you can't or don't want to do it yourself, then hire someone who knows.  Make that someone, someone who's patient, explains things clearly and repetitively and who will take the time to teach you to manage your custom taxes - not just someone to prepare them (which is what too many tax preparers do).

            Become empowered, save tax, file early and easily.

            Who's your Trusted Family Advisor®?

 

           

www.WomenAndMoney.TV

'The Trusted Family Advisor’

55) The Trusted Family Advisor

H

ow does one, especially a woman, choose the right Financial Planner?

            Firstly, what is financial planning?

            Financial Planning is the effective management of financial resources to achieve life goals.

            What is a Financial Planner?

            A professional in a vocation involving specialized knowledge & skills used to provide disinterested counsel and service for compensation without expectation of other business gain.

            A Financial Planner may be trained in a variety of personal finance topics ranging from daily financial management to long-term financial planning.  These topics can include goal-setting & prioritizing, values assessments, budgeting (what you spend on), cash flow management (when you spend), banking & bill-paying, credit management, and tax management, to insurance management, home purchasing, education planning, retirement planning, investing, estate planning, and specialty areas, such as planning for same-sex couples or divorce.

            The CFP (Certified Financial Planner) is often the professional designation of choice.  It covers a wider range of topics than any other financial professional, with the possible exceptions of the Chartered Financial Consultant (ChFC) or a CPA who holds the AICPA's Personal Financial Specialist (PFS) designation.  There are other designations out there, but they are usually related to a single specialized area.

            A Certified Financial Planner holds a certificate from the Certified Financial Planner Board of Standards.  To attain this designation, the professional must satisfy education & ethics requirements, have passed a long, comprehensive competency exam in a variety of topics and have had three years of experience.  They are then governed by a Code of Ethics, a Code of Practice Standards, and a Code of Professional Conduct.

            A disclosed CFP Practitioner practices the 6-Step Financial Planning Process:

            1. Establishing and defining the client-planner relationship.

            2. Gathering client data, including goals.

            3. Analyzing and evaluating your financial status.

            4. Developing and presenting financial planning recommendations and/or alternatives.

            5. Implementing the financial planning recommendations.

            6. Monitoring the financial planning recommendations.

            All of this is separate and above from licenses and registrations for managing/brokering investments and/or insurance, preparing taxes, practicing law, etc. and other specialized designations such as for divorce financial planning.

            A CFP Practitioner (vs. a CFP) will be one of the best persons you will ever know since they are usually intelligent, articulate, educated, practiced at teaching, and they like to help people, and adhere to high personal moral integrity.  They are not all about making money for themselves, although they like to earn a decent living and be in control of their own lives.

            The biggest issues that women face relate to their historic non-involvement with money.

            If you think about this, it’s ludicrous.

            Women live longer than men, often marry someone older, and already control more than have of the money in the US.

            They have always had to provide for children (and now, parents), and have always managed the household, making them excellent multitaskers, budgeters, and savers.

            But it's been the man's purview to have a team of financial professionals, including accountants, attorneys, bankers, insurance agents, and investment brokers.

            Men like to confidently take action, often ignorantly and without advice, and they often practice, 'Ready FIRE, Aim'.

            Most financial professionals are men and most financial decision-makers have been men.  If a man and a woman visit their advisor together, studies show that the professional spends the majority of the time speaking to the man.  The man will 'take care of the little lady who should concern herself with such things’.  This just pisses women off and they usually find a new advisor when their man is no longer in the picture.

            Therefore, a woman will want to choose a planner who is referred and/or whom she has checked out by hearing them speak (e.g. live, TV, radio, writing).  She will check their credentials.  She will meet with him/her to feel comfortable and heard.  The planner should be professional, willing to explain things again, and again, until she feels comfortable with the answers to her questions and the advice.  The planner needs to be patient, understanding and have a good bedside manner.  A woman will develop trust for the planner and be involved.  And the planner will be responsive.

            In my office, we appreciate delegation, not abdication; we fire clients who abdicate responsibility and involvement.  And we place particular emphasis on education and security.

            We like to teach, women like to learn.  Women have different goals and values than men.  Women like to make a plan, and patiently stick to it.  Women integrate, men categorize; women ask for help.  Women are loyal and send referrals.

            In her book 'Next: Trends for the Near Future', Marion Salzman, a Young & Rubicam Global Brands Manager observed that people are spending more and more time with like-minded individuals.  This ranged from who their friends were, the activities in which they participated, with whom they do business, and even where they live, moving to be closer to those who share their values and interests.

            The right planner may be more loyal, communicative, respectful, and true, than a husband.

            Who's your Trusted Family Advisor?

www.WomenAndMoney.TV

'Motivated by Goals, Not Fears'

54)  Motivated by Goals, Not Fears

W

hat a shame to be motivated by fear - except, maybe, when safety’s at stake.

With the New Year, it's time to remember to set goals, and let them be your motivators.

You need to review your goals daily.  Maybe post a photo or display a toy or something that reminds you.

Also, use affirmations in the present tense that state the goal as already having been achieved.  This will help program your subconscious, or at least, help to manage expectations.

You must believe!

Goals can be achieved one step at a time.  Sort of, like how you eat an elephant - one bite at a time.  Or how a journey begins - by putting one foot in front of the other.

In WWII, MBO was developed - Management by Objectives.

For instance, if the goal was to recapture Paris, then the objectives were to first capture Hill 319, then Hill 320, etc.

So objectives are the step-by-step actions you take to systematically pursue your goal.

This calls for a plan - a financial plan.  Then you know what your goals and objectives are, what the time frame is, your risk tolerance, your liquidity needs (emergency plan), and other details.

Just like a jigsaw puzzle of your life, you start by framing the picture.  Then you start to fill in certain sections, such as credit, taxes, investments, insurance.  Eventually the picture starts to take shape.

And each piece has its place, so you don't want to jam it in where it doesn't belong.  This also means that, sometimes, you have to walk away and take a break.  You don't always want to plan without finally acting.

So what's your picture look like?  What's your plan?

            

www.WomenAndMoney.TV

'Death, Blood & Bloodshed (i.e. Family Holidays)'

53)  Death, Blood & Bloodshed (i.e. Family Holidays)

T

he Palestinians and Israelis were at it again Congress is too.  It's like two children who disturb the holiday dinner table.  People are pushing others to their death in front of NYC subways.  People are shooting schoolchildren and police officers.  People are burning churches.

            And then there are family gatherings for the holidays...

            Distant strangers feed the victims of Hurricane Sandy and help rebuild their homes.  Others are clothing and sheltering the homeless.

            It really starts with basic respect for one another.  It involves common sense.  And, hopefully, eventually, respect for one's self.

            Nothing can evolve without respect, not the Earth, Humankind, society or personal relationships.

            Whether it's for your family, who deserve the most respect, an entire people, your neighbors, coworkers, clients, the President of the United States, a senior fraternity Brother, a clerk or waitperson, it starts with respect.

            The world was reborn on 12/22/12; in this new time, new year, will you lead and follow with respect?

            Happy New World!

           

www.WomenAndMoney.TV

 

'I SING the Body Eclectic’

51) I SING the Body Eclectic

W

alt Whitman wrote 'I SING the Body Electric'.  I write of the 'Body-Mind, Spirit' connection.

            People are different; people are the same.  Everywhere.

            People are normal, 'people are strange' (The Doors)

            There are good people, and bad people.  We have differing geography bodies, clothes, foods, cultures, holidays, music, religion, even values, but throughout history, people are the same.  (Unfortunately, little human social evolution seems to have transpired, and it's still a concern, although we do make slower-than-glacial progress.)

            New York City is a Mixing Bowl; Denver is a Melting Pot.  And more than half of the world now lives in cities.  The top six are in the East or Far East (as are 18 of the top 27 - 2/3!)  NYC and LA are the only US cities; five continents are covered), so it’s also smart to make friends!

            Celebrate diversity.  There's too much intolerance.  Variety is the spice of life.  Diversification spells safety.  It will also protect your investments.

            The Silk Road connected East and West; the spice trade (commerce) led to the 'discovery' of the New World.  The Vikings connected northern and southern Europe.  The world shrunk.

            Change and evolution spell survival, even if outside your comfort zone.

            In life, you can't always pick and choose what you want (but sometimes you get what you need - The Rolling Stones).

            Inevitably, bad comes with good, light with dark, man with woman, winning with losing, and life with death.  Even spies try to even it out with the rule 'one of us, one of them'.  Therefore, whether it's nature or intellect, diversity and opposites co-exist.  In addition, commerce and investment are often the starting point for the evolution of civilization.

            Like it or not, recognize it; ultimately, I hope you accept it.  It's a Universal Rule.

            People must come together to survive, just like after 9/11, the Indian Ocean tsunami of 2004, the Haitian earthquake of 2010, Super Storm Sandy, the lighting of the Menorah, and the Three Wise Men under the stars!

            Even stars and planets come together!  (Friday the planets align, concurrent with the Winter Solstice and the end of the Mayan Calendar!)

            Are you diversified?  Are you evolving?  Are you investing in your future?

            

www.WomenAndMoney.TV

'Respect'

50) Respect

S

ing it: "R-E-S-P-E-C-T".

             Affecting one's life starts with respect.

             Without, there may be no life, a short life or death.

            Lack of respect ends in homelessness, unemployment, fights, crying, depression, anxiety, divorce, split families, unhappiness, crime, murder, bloodshed, war, and death.  Look at the Middle East or the homeless or the seaside victims of Hurricane Sandy.  How about holding doors for others, not cutting lines, not cutting others off in your car.  Look at your family-filled holiday table;  how much tsouris, crying, fighting, unhappiness, and anxiety is there?

            Respect for one's health helps birth a baby.  Respect for the elements & food grow a child or keeps an adult healthier.  Respect for knowledge aids survival and teaches life skills.  Respect for others allows people to work and live together, improving quality of life and longevity.

            Respect for numbers allows families to grow, homes to be built, crops to be planted, businesses and finances to be managed, money to be counted, saved and invested.  It allows life plans to be made.  Farming & agriculture, business & trade, civilization & space travel all spawn from respect.

            If you show disrespect for others, or nature, or numbers, you may suffer.  You may have no home, food, income, clothes, savings, friends, family or life.

            Respect is basic.  Have respect.  Have respect for yourself, for others, nature, and numbers.

            John Donne said, "No (wo)man is an island".  Are you? 

            

www.WomenAndMoney.TV

'Hurricanes in New York!'

45) Hurricanes in New York!

H

urricanes in New York - again!  Halloween snow storms, Halloween Hurricanes!  (Does anyone remember the 'Procaccino for Halloween' buttons of the 1969 NYC mayoral race?  It looks like an orange Jack O ‘Lantern.)

            Actually, hurricanes have been in New York since I don't know when.  However, my point is, ever since 9-11, people like mobilizing.

            Mobilization gives people a sense of purpose, and feeling of not being alone.

            I believe many of us have become confused or deflated since 9/11.  What had been a life of relative luxury and ethnocentrism, has become a life of feeling lost.  Tsunamis, weather, war, murder, terrorism, politics, and 1%'rs have caused so many of us to either, lose our way, or sort of give up.  We walk through the day with little sense of purpose or enthusiasm, and few long-term goals.

            The future is so uncertain and not necessarily better for us, and our children; hope wanes.  Frustration, anger, depression, and anxiety take over.  If nature works against us, we're totally helpless, if not extinct.  When the power goes off, we're more helpless than animals surviving in the forest.

            Now, I've been around the block.  I grew up in the concrete jungle in the '60s.  NYC, racism, Show Biz, the tail end of Hippiedom, drugs, free sex, Viet Nam, JFK, Women's Lib, etc.; fast-forward: full life, 9/11.  But Hurricane Sandy has really started to bring it home.

            Remember, I'm a First Responder and the teacher of first responders including lifeguards, water being a special medium.  My Go-Bag lies ready, and I have an 'escape from New York' plan.  I'm a self-anointed quasi-Renaissance Man, and my fraternity dubbed me with a powerful moniker to which I must live up.  And before the hurricane, I had just finished blogging on life purpose.

            As one good in an emergency, I will you that, in the middle of an emergency is no time to question your mettle, abilities, ethics, skills, commitment, or ability to respond appropriately.

            You go on automatic pilot, and avoid questioning yourself; hesitation kills.  It's not time to Be, it's time to Do.

            I checked w/family & friends throughout the seaboard, as I was so proud of myself, for not only living in NYC, but the right neighborhood of Manhattan, where my response to the hurricane was a highly productive Snow Day, both professionally & personally, listening to Classical WQXR.

            The second day, I went to the coffee shop, and then watched Sci-Fi, the Science channel and way too much news.  All three channels showed me the destruction of the world over and over again.  I became bored and cycled to Bikram yoga, where the classes were full.

            I began to suffer ‘Survivors Guilt’, for having it so easy while everyone I knew in lower Manhattan, or CT, LI, NJ, PA, MA, etc. was in the dark, without heat and connectivity.  And I began to ponder my existence.

Think about it: what if much of the city was wiped out or the population decimated?  In Sci-Fi, we've seen the Earth end a dozen different ways, and the Science channel shows us what the Earth would be like, if humans disappear.  And life really has ended on Earth before; life that outlived us by many millions of years.

            If life as we know it really ended what would be my purpose then?  What would I do?

            The book, 'Where's My Cheese?', shows how rigid we are by nature, in just our everyday lives.  Forget about hunting, gathering, farming, starting a fire, making clothes and building shelters.  No radio, TV, phonographs, elevators, no 9-11, no refrigerators, heat, gas for cars, A/C, telephone, computers.  How many of us know smoke & drum signals, and Morse Code?  How many can start a fire, make candles, skin an animal, build a structure?  What would the young do without digital anything?!

            Where would I go?  Who would I be?  How would I eat, and protect myself from the elements, other humans, and animals?

            We would really need to expect that it would become dog eat dog, and survival of the fittest.  And I haven't been practicing using knives, spears and bows & arrows, nor do I own a gun!

            What loss would civilization suffer?  Music, art, movies, technology, etc.

            We are such a speck.  A speck in the Universe; a speck in time.

            Why are we here?

We’re taught to plan for the worst and hope for the best, or roll with the punches.  Murphy’s Law states that anything that can go wrong, will go wrong (and at the worst possible time), to which we add Schwartz’s Corollary: Murphy was an optimist.  Also, no good deed goes unpunished.  So even with a good attitude and good intentions and good plans (Eric plans, God laughs), it’s sometimes just too overwhelming.

            Yes, humans are survivors, but what happens when our spirit is gone?  How do we rediscover a sense of purpose, and recognize our place in the universe?

            Probably nothing you haven't heard, but it bears repeating:

ü  Never give up.

ü  Procreate.

ü  Live for today, plan for tomorrow.

ü  Enjoy each day as if it was your last.

ü  Use common sense, and don't be frivolous.  Make smart, conscious, deliberate decisions.

ü  Acquire, practice & employ the skills you need for survival.

ü  Acquire the resources you need for survival.

ü  Be motivated by goals, not fears.

ü  Learn, read, discuss, and explore your own philosophies and spirituality to develop a sense of self and a sense of purpose.

ü  Continue to be curious and learn.

ü  Play a responsible, ethical role in society.

ü  Fake it ‘til you make it - mobilize

            The end of the world may not yet be here (although 12/21 is just weeks away.  And what do we do if the world doesn’t end?!).  By managing expectations, and living life to the fullest, we can rediscover a life of purpose.  Without it, we do not truly live.

            Your financial plan should reflect your life:

Ø  Emergency Management (e.g. cash, water, blankets, first aid kit)

Ø  Daily survival (e.g. budgets, savings, systems)

Ø  Risk Management (e.g. emergency cash, credit, insurance, exercise)

Ø  Goal-oriented work, play, laughter & fun.

            Why are we here?  Why are you here?  What’s your purpose?  What’s your plan?  Is your financial plan a burden, or a survival tool?

           

www.WomenAndMoney.TV