'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

'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

'And the Winner Is...'

46) Nor 'Easters in New York!   And the Winner Is...

S

o Barack Obama is, again, the President.  What does this mean for your money?

            Well, if you have a good financial plan, it will mean only adjustments since a good plan is comprehensive, and allows for flexibility and uncertainty.

            On November 13, 1789, one week after the first Tuesday following the first Monday (i.e. Election Day - although, that very first Election Day was actually held on January 7^th), Ben Franklin quipped, "There's nothing certain in life except death & taxes".  So, it's timely and prudent to explore what parts of the Tax Code affect you, because some taxes are going to have to go up.  (This is a great time to start learning about the US Tax Code by watching SFN's free videos at www.WomenAndMoney.TV.)

            This could be a good year to take previously deferred income and sell anything that will have a capital gain (profit).

            Tax management usually involves doing many small things rather than one big one, so it's important to understand a wide spectrum of issues that affect you.

            Income taxes can eat up anywhere from 10% to 50% of your income.  You can't consistently generate that kind of return from securities (e.g. stocks, bonds, CDs, mutual funds, real estate, gold, etc.).  Therefore, the best, first investment you can make, other than in your financial education, is in tax management.  Saving a guaranteed 10% - 50% is smarter than trying to generate 8%, an aggressive return these days.

            Also, federal estate tax rates can eat up more than 33% of your estate, not to mention state estate taxes!  So you may want to explore the results of death!

            If you have money in a Traditional IRA or 401(k), when you die, it will be exposed to both, income tax, and estate tax!

            This means exploring legal remedies (e.g. estate planning, trusts, charitable giving, re-titling assets, beneficiary designations, etc.) to protect your money from estate taxes, and possibly Medicaid, related to long-term care issues.

            The administrative issues and costs can be as daunting as the tax & financial issues, but well worth it.  It may cost you hours and hours, and tens of thousands of dollars to protect hundreds of thousands of dollars or more.  (However, if you itemize your personal deductions on Schedule A of the 1040 tax return, you may be able to deduct some of these costs!)

            You have a responsibility to yourself and society (if not dependents, loved ones, organizations, etc.) to plan for yourself; it's part of the Social Contract.

            Besides, do you want the government to make decisions for you?  Would you trust an IRS or Medicaid officer who showed at your door, and said, "I'm here to help."?

            So who's the winner in this election?  Will Congress allow the Bush-era tax cuts to expire, changing both income and estate tax?  Will they compromise?  Will they write new tax laws?  Will the laws be retroactive?!  There’s only six weeks left!  And what about the investment markets?

            Is your financial & estate plan up to date?

Who's your Trusted Family Advisor?

           

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

Life Stages

43) Life Stages

I

 have plenty of senior fraternity Brothers, but the eldest of my circle is turning 60.

He helped me obtain my first and only car, my beloved maroon '78 Firebird with Cragers (my 8-Track still works).

            I have another best friend who is already past 60, and as athletes, he can still run and swim circles around me.

            I have other sexagenarian cronies.  One, age 68, walks 17 miles around the Lehman College arboretum per workout, a few times a week, year-round, in between hours of piano practice.

            Their chronological ages amaze me since I do not measure them by years, unless it's the length of our friendships.

            My friends and I have grown up together, literally and figuratively made music together; run organizations together, graduated together, and traveled the world together.

            We've known each other's families, girl/boyfriends & spouses, been in business together, attended each other's weddings, and supported each other through divorce, parental care, disease, disaster, and death.

            We share values, senses of humor, intelligence, sophistication, curiosity, morality, commitment to causes, and support for each other.

            Yet most of us 'march to our own drummers'.  (Henry David Thoreau: "If a man loses pace with his companions, perhaps it is because he hears a different drummer. Let him step to the music which he hears, however measured, or far away.")

            I've watched Brothers, classmates, friends, and family buy their first homes; I've watched their kids grow up, and attended Christenings, Communions, and Bar/Bat Mitzvahs. 

            We share each other's fortunes - life fortunes, if not financial ones.  Some have been up, some down, some stable, some still unfolding.

            There's always a laugh in the wings, a shoulder to cry on, a bed waiting for me, should I travel somewhere around the world, and a shirt off a back, if I need it.

            I've yet to start a family, or make the financial fortune I desire, but my classmates and Brothers are already speaking of being empty nesters, their kids' careers and with whom their kids date or live.  And they speak of downsizing their homes and retiring to Florida!  We discuss how to care for the thinning ranks of parents, and whether or not to prepay our funerals.

            This retirement to Florida scuttlebutt has me, yet again, realizing another paradigm shift in the personal lives of the group to which I belong, the group that makes up my age-wave.

            I may not be doing the same things they do, nor share the same interests, but I watch and learn.  And I consider myself rich.  My Dad just asked how frequently I gather or speak with Brothers and classmates, and the answer is weekly; I’m not sure what I would do without them.

            I can't really relate to some of what they are doing, they seem so far ahead of me; careers, big houses, autos, kids, retirement savings.

            Yet, others are approaching 60 and have elementary school kids.

Then I hang with younger men and women, and they seem so far behind, in certain ways, still wet behind the ears from college, maybe living at home, single, starting careers, just going out at 11pm.

            So it’s also choices, not just stages.  And it reinforces my decision to march to my own rhythm section and laugh about Don Quixote.

            Long ago I made a conscious, deliberate decision to avoid being caught in the 'keeping up with the Jones' and 'the grass being greener' elsewhere.  I don't believe the universe works that way, especially with the experiences I've had, and my learning from history and others’ mistakes.

            After all, if we cannot learn from history, we are doomed to repeat it.  And why not learn from both my own and other's mistakes, rather than having to learn the hard way?  I’m smarter than that, and it seems to me, that the right to a brain, or sentience, implies the responsibility to use it; a responsibility to family, friends, society, and myself.

            So I tend my own garden, I tend my flock, I try to enjoy life each day (even amidst my complaining), and I manage my expectations.  This helps me to be more comfortable with who I am.

I still cannot see the path ahead, or the light at the end of the tunnel, but I generally, now, get to enjoy the journey.  I am responsible for my decisions, my choices, my attitude, and my own happiness.  I am motivated by goals, not fears.  And I have the support and friendship of others.

            I learn from all, respect my elders, and coach those younger.  We give, receive, and enjoy what we each have to offer.  We share each other's fortunes - life fortunes, if not financial ones, albeit financial wealth abounds.

            Although we come from different walks of life and spend our days toiling in diverse vocations and lifestyles, our wealth is not measured so much in dollars, as in friendship.

            Our bonds aren’t based on how much we have, nor lack.  It isn’t based on rubbing shoulders with the 'right' people, or people of the same economic class or political party, or religion.

            I define wealth by fun, relationships, happiness, fulfillment, and hopefully health and peace.

            Financial wealth is secondary, a tool, not an end.  It is a human invention, and fleeting; one cyber attack, nuclear incident, or major sunspot, or meteor, or major hurricane or earthquake, or tsunami, and the rules of society will change - most likely reverting to 'dog-eat-dog'.  Thus, the relationships will outshine the luster of gold.

            I believe relationships are based mostly on shared experience and shared values.  That, along with managing expectations are the keys to the kingdom: wealth and longevity: 'Live long, and prosper’.

            To wit, how do you measure wealth?  How do you steward your money?  Who's in your support circle - or corner?

           

www.WomenAndMoney.TV

The Power of Apology

42) The Power of Apology

S

ome people just don't get it.  I fear it's more often men.  People have to be taught the healing, and healthy power of an apology.  An apology goes a long way.

            ”I'm sorry” and, "I apologize" are powerful and important phrases.

            They immediately diffuse a situation; they allow you to move forward, whether it's to walk away, be able to remain in the same room or car, try to grasp your feelings, cry, talk, or have 'make-up' sex, or remain friends, or simply non-violent.

            I believe it has to do with assuming responsibility for your actions, and respecting other people, and their feelings.

            If one can get out of their own way, and be confident enough in themselves, and their personal code of ethics, then one can more easily apologize.

            Apologies prevent war, apologies prevent fights.  Apologies can salvage activities, and relationships.  Apologies help avoid misunderstandings, confrontations, and unnecessary stress.  Apologies maintain familial relationships, allow friendship to foster, marriages to last, groups to thrive, civilizations to flourish, and humanity to evolve.

            Apologies can display empathy, and compassion; they can aid self-esteem, and self-confidence.

            We are a social being; we need others.  Apologies are generally inexpensive, and healthy; they are a life tool, and can aid your moral compass.

            How do you navigate?

           

www.WomenAndMoney.TV