Being Fair & Why You Need to Care

My sisters graduated from high school in 1974 and 1972. The Fair Credit Act was just being talked about and implemented. This gave women the right to equal status in banking, credit and therefore, home ownership among other important financial life building.

Their children are now in their thirties so that was only a generation away. Given how long new legislation weaves itself into the our society, fifty years is not that long. So many women are still challenged in this area. Whether they were raised in families where men did the money or were not encouraged to be independent, past history can impact life though it is not too late to change. Ever.

The best way for women to claim what you have as talents and treasure is to not undermine your skills or misuse or misrepresent your treasure. Empower ourselves to learn more and be more of who we are. Our men too can do this for themselves and for the women they love.

My parents were of a different generation and led the way in our home. My Dad was raised with six sisters by a strong Mom who held their poor farming family together. He learned more about women in that family to set the basis for his life time – and prepared him to have three daughters.

My parents always wanted us to act like “Ladies and Gentleman.” Though my parents sentiments were set on their 1950s coming of age, my Dad saw no reason that his daughters were not equal. He expected them to have equal rights when it came to home ownership, banking and salary, which is how he treated my Mom. I can still recall his shock when he learned from me in the late 90s that there was a gender pay gap. My Dad has been dead almost fifteen years. Women are still receiving 70% to each of men’s dollar earnings. Gender Pay Gap Widens as Women Age (census.gov)

In 1972, Title Nine was a game changer for young women in school sports (pun intended.) The Fair Credit Act was a major shift for the life of all women in 1974. The impact was felt across business, banking the United States but that does not mean everything has changed. My Sister, Title IX and Me (Next Avenue)

Rights of women still vary across our world. Driving, voting and face coverings are political points in some countries. Today’s women in power create press attention. I welcome the day in society when media stories do not mention inequality or the “the first women….”

On a recent 60 Minutes episode, I learned about SOLA. This is a school for Afghan girls in Rwanda. With the Taliban again in power in Afghanistan, the country becomes the only one in the world that does not allow women to be educated. Watch 60 Minutes: Kherson Under Fire, The Girls of SOLA

We are not out of the woods yet. Let’s not have the power in legislation we gained in the US in the Seventies stop there. Let’s use our voices and financial power to help the causes that resonate with us. We as women and all our supporters- fathers, husbands, partners, friends and brothers – have got us to this point.

Let’s take care of ourselves and others to grow our talents and treasure for all good – whether giving to charity, helping a woman up or creating a strong independent life. This is all financial and personal. Celebrate and act with the thought of International Women’s Day in your life every day.

If you want to read more on this legislation and the financial progress of women during this March which is women’s history month. Check out this article

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Financial TLC

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Financial TLC

February is the month we associate with love, caring and cuddling, because of Valentine’s Day. Yet, Love is always in fashion. Love of yourself, your partner, your family and your friends reign throughout the year. 

This month I want you to give yourself some Tender Loving Care. Whether you are coupled, single or searching, taking care of yourself is critical. I want to encourage Financial TLC. In the midst of the life, we often forget to take care of the details. True TLC is the key to a solid financial life.

What is financial TLC?

Transparency

Be honest about money: with yourself, with each other, and with loved ones. Write down and review where your financial life stands: income, debt, investments, bills. Looking at the list in black and white often gives you a reality check that no other system can. This is critical to share with yourself first and foremost. You need to know where you stand and what your commitments are.

Your partner needs to know as relationships are tied together. In marriage, you are bound legally. Even if you are not married you may have shared commitments like rent, pets, and family. Knowing about the other commitments your partner has makes assessing your situation a lot clearer.

Link the Details Together

Know what the accounts are and where to find them for each other. And be sure the bills are in both names.

If you are single, you may feel you are only responsible to yourself so there is nothing else for you to do. Your details will matter to your loved one if you were critically ill or die suddenly. They would have to pull the pieces together. So have a file with the details that they would have to know to handle your financial life. Tuck away the details. You do not have to share everything but let someone who loves you know where they are.

Conversation - Caring Conversation.  

There is embarrassment, there is past money flaws, there are emotions involved around money. We all have them. The secret is not to let them rule your life. The best way to do this is to share them in a way that works for you. This may be journaling, therapy or a good heart to heart with a friend. If you are part of a couple, talking to your partner is not optional, it is a necessity. Financial intimacy is as critical as any other part of your relationship. 

The bottom line is love relationships are impacted by money. TLC is investing some time in your money relationship. TLC and honesty with yourself and others will demonstrate love on many levels.

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The Benefits of Simplifying

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Simplify, Simplify, Simplify but Not too Much

Tis the gift to be simple, 'tis the gift to be free,
Tis the gift to come down where I ought to be;
And when we find ourselves in the place just right.
— Shaker Folk song by Joseph Brackett

Money is good for so many aspects of our lives. Yet, the management of our financial lives can distract us from happiness. When we are overwhelmed with statements, options and misinformation, we may make impulse decisions or ignore our money all together. Both can land us in more turmoil.

Focus, time, attention and energy are required to manage money whether you have very little or are gifted with large accounts. You need an overall strategy to prevent your constantly thinking of your financial concerns and the market.

Your cash and investments accounts tell a story; the story of you how you treat your money. Create a cash management plan that matches your expenses to income and demonstrates your self-care. No matter how much or how little money you have coming in, taking steps to gain clarity around your money is critical. Money is only as valuable as what we spend it on. We chose what to spend it on, but we first need to know what we have.

As with anything you organize, the initial set-up demands time and a plan to establish. After the system is in place, there is less time and energy involved to maintain it.

First, start with a cash management plan. 

This is a tool to understand where your money is being spent. This will also help you determine how many money accounts to actually have. There are three accounts everyone needs: a savings, checking and separate safety savings account. Beyond that, the more moving pieces in your life, the more bank accounts you will need.

A homeowner may want an account to save for real estate taxes, capital improvements and maintenance. A couple with young children may want a separate childcare account so they always have the cash to make a daycare payment. Keeping your funds separate this way prevents confusion and ensures the money is there when you need it. Plus, though at first glance more accounts sound complicated, there is less need for calculations as each financial need has a place.

Consolidate Some of Your Investments

As far as investments, diversity is a great approach to investing. However, if you have several investment advisors or retirement accounts from previous employers, you could be working against yourself. Variety does not lead to diversity. Rather, the complexity may lead to a lack of your comprehension of what you are investing in, what your options are and how many accounts you do have.

Create a better grasp on your investments by gathering up your investment statements and decide if you need to merge all your 40lks, 403bs and/or IRAs. Then, take the steps to make that happen. This month. Such an administrative step is easy to put off, so give yourself a deadline and envision the fewer emails and paper you will collect with fewer accounts. Most of all, with less to manage, you will be sure to have time to understand and choose your investments wisely in 2023.

If you have different investment advisors, understand what they do for you and how they work. Find out what they charge, specialize in and how they can help you even more. Do some research and perhaps merge these accounts as well. First, learn more about your Investment Advisor.

Finally, Take Time to Relax

After making progress, you will have more time. Spend time on your passion. Enjoy your family. Go for a walk in the woods. Or treat yourself to some music. Here is an instrumental version of Tis a Gift to Be Simple. (The words are provided if you choose to sing along.)

Light Up the Holidays!

Here are some of my favorite things:

Newgrange Winter Solstice

Want to learn more about the Winter Solstice and light at Newgrange Celtic site in Ireland? Start here

Becoming a Minimalist

Becoming a Minimalist is a newsletter I have been getting for years. Until this morning when I read deeper into the website did I learn that Joshua Becker started his movement in Vermont. Read a recent newsletter that struck a cord with me:

Ten Steps to Stop Living Paycheck to Paycheck

Done and Done Home

This mother and daughter team help people get organized. Their recent newsletter had a great suggestion for giving gifts that do not add to clutter. Buy something you eat, use or share right away. I also loved the "Holiday Bucket List" they shared on Instagram.

Holiday Bucket List

Want to learn more about MoneyPeace? Sign up for the Newsletter

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The Weave of Life

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Candle

Attitudes and experiences around money impact mental, physical and spiritual life. Money is a part of living, yet money is not often integrated into our lives, and not talked about in a holistic way, if at all.

Financial stress accounts for missed work and other ailments. For example, we all know folks that throw out their backs when worried about money. Or people who are so preoccupied by money it becomes the focus of their career and life to the detriment of their whole being. Or the other extreme, individuals so dependent and present in the spiritual world that they do not take care of themselves in their human capacity. All in some way forget that money is a tool that must be used properly in the process of finding a fulfilling balanced life.

There are those who flow through life happy and fulfilled but money is neither the issue nor the problem. Like Annette, a woman who runs her own gardening business and makes a modest living. She is always grounded and happy. When asked the secret of her content, she says, "I love where I live and do the work in this world that comes easiest and brings me joy."

This holiday season weave some solid changes into your life by starting a new system for your holistic health. If you want a better financial life:

First, is making the decision to improve your finances.

Second, have gratitude for where you are at and what you learned so far.

Three, enact a plan to improve one way of handling your finances.

Initially, the above will take time. Consider it investing your time for a better long-term financial picture. When your finances are sick they need extra time devoted to them. Once they get healthier, they need less time devoted to them. A consistent plan makes finances healthier.

Think of it as your health. If you are sick, it takes days in bed to recover. Once you are better there is still a slow upward curve as you struggle to full-fledged wellness (or back to normal.) This struggle and the timeline are in direct relation to how sick you are. There may even be a relapse.

The wellness part applies as well. If you do not take regular care of your health with the basics: sleeping, eating healthy food and exercising. Then, of course, you are not going to stay healthy. For the most part you maintain the semblance of order in your health life with the proper food, vitamins, stress relief and exercise. In order to maintain your financial health, you must pay your bills, have an income, review your expenses and maintain your checkbook with a regular routine.

The law of physics applies in finances: For every action there is a reaction.

Your past actions made your financial life what it is today. If you do not like it, you can change it with action.

Take one of the steps below today to move toward a healthier life:

  • Check your credit report.

  • List all your debt with the monthly payments and interest rates.

  • List all your assets from cash, to home, to investments

  • Start a daily gratitude list

Once you get in the habit of reviewing your finances, you will find a system for you. Then, like a client said of her handwritten monthly list of the assets and debts and debts, “It is so satisfying and simple.”

Personal finance does not have to be complex. See the list above and my blog for ideas. Try a new approach and gain some health in the process.

With gratitude for your reading each month. I am off to pay a bill. What about you?

Don't Let Retirement Be Scary

I have a love hate relationship with Halloween. As a child, I liked the candy but not so much the going door to door. I love haunted houses but not scary movies. Halloween, I saw in college because I went to with a friend who told me when to close my eyes! I love giving out candy to children – their smiles and enthusiasm. I skip the Halloween parties where people approach me and I do not know who they are – or worse, who they dressed up as! Too much for me.

Over the years, I have set my own traditions. There are friends I call because they equally dislike Halloween. And another I call and give out candy with - hundreds of miles from each other. We chat in between the doorbells and then describe the trick or treaters to each other – doubling the fun.

My most favorite Halloween was recently when friends had an outdoor bonfire on the full moon. The event was full of food, new people, old friends, fresh air, and no costumes. All perfect for the social distancing Halloween of 2020.

This year, I will mark the eve in a Celtic way by attending another bonfire. As you may know, the Celts started the concept of Halloween. This may be a nod to ancestors far gone and most recently passed. However, I will be home on the big night, so be sure to send your children to my door!

Much like Halloween, retirement can be a conundrum. You look forward to it. Retirement becomes a long-term goal. Then, it is here and there is more to know than how much you have put aside for retirement. And then there are changes you did not expect.

Understanding that this is a life transition that comes with the good and the bad and the indifferent. Most of all, it is a major change for you and those close to you.

Wherever you fall on the pre-retirement scale – fully ready to pursue your passions and make time is your own, Or faced with fleeting fears – will I have enough? Where should I live? What if my health fails? Or somewhere in between. Get ready by investing some time in the facts and details of this next stage in your life journey.

Preparation is critical. Much like the pending holiday there are so many decisions to make. And instead of costume? No costume?, these have long lasting implications. Whether you need to understand your changing income tax needs, where to pull income, or the estate issues if you move, you will be more ready to retire without surprises.

Here are some things to think about:

  • Social Security Timing

  • Rebalancing Your Investments

  • The Implications of the RMD

  • Understanding Health Insurance

  • Considering Long-term Care Insurance

Appreciating the stages of retirement before they happen to you, will make your life easier and healthier.

Make your life better by learning about the nuances of the next stage of life. Retirement is a continuum. Some preparation will make your next steps less frightful and create a new path with ease.

Before you invest, Do Your Homework

Where Does Your Financial Advice Come From?

Financial advice can be found anywhere on the internet. Social media has financial gurus and others not known for financial expertise speaking on the best investment for you. Talking heads show up on television news programs suggesting many stocks and investment recommendations. But are these good for you?

The headlines of the past couple of weeks has had me stand up and take notice. Though I usually cringe when I see the likes of actor Matt Damon promoting crypto or former football star Joe Namath pitching for Medicare Advantage.

Celebrity promotion may be changing. First Matt Damon was bashed for his television promotion of a crypto company. Fortune Favours the Brave | Crypto.com. Then crypto prices dropped and he seemed to apologize by creating his own ad about “Almosts” – though only seen on Steven Colbert, not the Superbowl advertising audience. He knew he made a mistake.

The number at the end of the “Broadway Joe’s” ad seemingly for Medicare? That rings at an insurance company and not at a Medicare office. Anyone wanting to get coverage or chose a new plan wants to be sure to check with an objective source before making a decision because once chosen you are stuck with the plan for a year. Awareness that Medicare Advantage is an insurance option open to all but actual benefits depend on the plan you chose. Joe Namath missed the goal post on that one.

Last week I felt justice was done by the Securities and Exchange Commission (SEC) which monitors all investments and professional financial advisors. Kim Kardashian was fined $ 1.3 million dollars for not revealing on Instagram she was paid for her post on cryptocurrency. Kim Kardashian to Pay $1.3M to SEC for Crypto Touting | ThinkAdvisor

Marketing is dangerous. Celebrities are touting all sorts of products. The combination can be detrimental to your finances.

Be careful where you get your financial advice. I am always reading about who on television may not have been honest with the audience. CNBC Personality Charged With Securities Fraud (fa-mag.com)

Check the advisors experience, education and objectivity, not their celebrity status. Just because a financial company is on television or on social media or well known, does not necessarily mean the investment is good for you. Their presence simply means they have a large amount of marketing dollars.

Certainly there are bad apples in the investment industry but after thirty years in the industry that is the exception rather than the rule. This does not mean you cannot protect yourself and should even if someone has come highly recommended. Former Wells Fargo Advisor Faces Two Years In Prison For Identity Theft (fa-mag.com)

When you are ready to seek out financial guidance, be willing to do the footwork and even pay for good advice. Two organizations come to mind: NAPFA and Garrett Planning Network.

There are other reputable organizations as well:

Ask the advisor if they are a fiduciary, meaning they have your best interests in mind. MoneyPeace Blog Post: Fiduciary

And be sure to check their past history with the SEC and any state organizations.

IAPD - Investment Adviser Public Disclosure

If someone is selling Fritos, there is a small cost and risk if you make a purchase. However, your hard earned retirement dollars need sound investment knowledge and decision making. Be sure to vet your investment advice before you make a big mistake.

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Elders of Excellence

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Those gone before me have taught me so much. I am grateful and am always trying to give back in anyway that I can.

This spring I was busy supporting UPenn Memory Center. We did a financial handout together and I was asked to speak at an event they sponsored.

With the rise in dementia, the brain fog of COVID, concussions and issues around mental health, I believe this information is relevant to all, not just our elders.

Please take the time to watch the recording of the event. The video is an hour long but if your time is limited, I come on around 24 minutes: https://youtu.be/2H3ImHjsDxQ

If you would like the handout to accompany this piece, you may download it here.

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Be Prepared in Life and Finances

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Observe what’s blowing in the wind lately? A range of economic factors and change. The winds of the future are becoming the winds of now. The past year conditions are shifting in the economy along with a raging war in Europe.

Here is the thing, even economists who make a living studying this stuff cannot predict a depression or recession. Yet, everyone is talking about the possibility of one soon, if it is not here already. No one knows for sure. Professionals can only confirm its existence after they have the statistics from the past months and review a trend. That is why no one used the term recession in 2007 or early 2008 – The numbers weren’t in yet. Yet, many people felt the turn in their homes, loss of homes or jobs by then.

Inflation increased shockingly fast and has now leveled off. Who can help being complacent? Yet, even when picking up staples at the grocery store it is hard not to notice the small increase in prices. Blue Cross/BlueShield and other insurers been approved for significant price increases. Is there more to come?

There are so many economic issues to consider including the trends and cycles witnessed in the past.

As global uncertainty surround us, this does not stand alone as a symbol of potential economic change. Combined with the other factors fluctuating, we should at least pause to rethink and revisit our lifestyle.

Whatever the coming school year brings, business as usual is not expected. Expect the unexpected. Be ready with cash to take care of yourself. A strong mental fortitude to weather whatever is going on in the outside world is essential. A little forewarning is critical.

My point is not to instill fear, but rather action and positive steps to take care of yourself. I guarantee that I do not know what will happen in the next year. Yet, I know from experience that most people get complacent and expect the same over and over again. Then, act surprised when things change. That happened in 2000 right when the tech bubble bust. Then again, in 2008 with the housing crisis. The only thing we know is that life changes. We do not know when. Read the winds and pay attention.

So now is the time to reconfigure your finances. A saying I have heard over the years but do not know where it originated, describes how to think about this potential change:

“Hope for the Best & Tie up your horse.”

Your “horse” is your personal world. We always have control over that piece of life.

So I leave you with a suggestion to make a different choice this month to reign in your horses.

Go do one thing differently this month: Pay off some debt, save some extra money, learn a new skill. These things are what you can do to take care of yourself and your family no matter what is blowing in the wind.

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Financial Freedom: Watch Your Language

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“Let Freedom Ring.”

We all associate our country’s freedom with that phrase. The ringing of bells symbolizes freedom in this country. So does some of the most famous songs – our national anthem and “America the Beautiful.” Sound touches something deep inside us.

What we hear impacts us greatly, not just as Americans but also as human beings. Words get into our psyche and become a part of us. With enough repetition, we can begin to believe anything we hear.

This applies to money. We are what we habitually hear. To truly know your money self, pay attention to what you hear on the job, at home, while out with friends. There is often a tendency to focus on the negative. We share our complaints to build camaraderie. We are suffering from language problems. Change your language if you want to change your money attitudes, which is the beginning of improving money’s place in our lives.

The phrase “I cannot afford...” should be the first to go from your lingo. With this phrase in use, there is no way to allow freedom to ring. It encourages folks to use lack of money as an excuse to not act. Saying “I cannot afford” takes the responsibility away from the speaker and therefore takes their power of choice away.

You can afford to live how you want within reason. What you are doing, what all of us are doing is making choices based on our resources and experience. Begin saying, “I choose not to” or “That is not a financial priority.” This demonstrates your involvement in the decision and that you are making choices. On the other hand, ’I cannot afford” shifts responsibility. The speaker becomes a victim, using the phrase as a rationale - it is beyond my control, implying you have nothing to do with it.

Making the effort to use language that demonstrates ownership and responsibility around money is what is important. Positive language changes our attitude around money when heard often enough.

What you are doing, what everyone does, is making choices based on our resources and experience. Simply shifting to saying, “ I choose not to” or “That is not a financial priority” demonstrates your involvement in the decision. You are making the choices. You are not a victim to your financial circumstances. You can afford to live how you want within reason.

If you decide to get a more expensive house with a larger mortgage and maintenance expenses, then you may not have as much discretionary income to spend on vacations, clothes, or a big screen television. It does not mean that you cannot afford the big screen television, it simply means that you have spent your money elsewhere.

All of us make decisions of this type everyday- specific to our lifestyle choices. These decisions are based on priorities and values and experience. Our decisions reflect what is important to us.

In this time of celebrating our political freedoms, create your own financial freedom month. Make the emphasis this month to focus on the positive. Pay attention to what sounds are all around you. See what you can learn from watching yourself and shifting the sounds of your language. Here are the steps along the path to freedom:

1. Pay Attention to the Words You Use:

Ask yourself: How are you regularly talking about money? What words do you use?

Are you consistently telling your children that we cannot afford this or that?

Are you regularly complaining to your friends that you do not get paid enough, reinforcing a negative financial attitude?

Next time you hear yourself, catch yourself, pause before continuing. Think about what you really want to say. Then, overtime you may stop yourself before you get started. The goal is to stop totally with the negative financial comments.

2. Focus on the Positive:

When you are trying to make a change, it is important to replace the habit with something positive. Your goal is to start talking more positively about money. Being positive may mean displaying gratitude for your weekly paycheck, looking at the checkbook as partially full rather than dwindling, or choosing your words carefully around money. Pick one way to focus on as your change in language is being enacted. You may even want to elicit the help of a friend or family member for mutual support. Make it game where you are calling each other on ways to improve and encouraging the new positive language.

3. Reward Yourself:

Everyday you do not succumb to negative talk, give yourself a small treat; a walk, phone call to a friend or a soothing cup of tea may just be the ticket. Though the treat may involve money, it does not have to cost anything. Being kind to yourself is what it is all about. Positive actions results in positive language. Treat yourself well. Reminder: It takes thirty days to create a new habit, so keep it up.

This month “Let Freedom Ring”with money. Listen to your words. And create the sounds that open you up to more abundance in your life. Let Financial Freedom Ring!

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Feeling the Cash Flow Pinch at the Pump?

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The price of gas is unforgettable. Here on the East Coast it is $4.99 and on the West Coast even higher. Inflation is ripping through every grocery aisle. Not to mention almost everything else we need has increased in cost and hit our wallets with a crash. What is one to do?

Though it is not officially mid-year, at the end of the month it will be. This is the time to revisit your spending goals and plans for the year with the rising costs of basics in mind. For example, if you are saving for the holidays monthly, you may want to save a few dollars less each month to cover the increasing costs you did not anticipate in January. If you are planning a vacation, save some money by staying fewer nights at the resort or combining time closer to home with some road trips.

While you are looking over your spending plan for the year, remember that the incidentals add up. Those expenses that come annually or even periodically that seem hard to predict but are ever present in everyone’s life. Consider setting some money aside for the inevitable now so that you won’t be surprised by:

• Annual Furnace Cleaning

• New/Used Sporting Equipment purchases

• Medical Bills and deductibles

• Repairs to lawn mowers, appliances and vehicles.

Festive events seem to come all at once, straining the best of financial plans. Start looking at the year ahead so that friends and family special occasions will not be a surprise. These days even $50 a month on a special dinner or gift can through a wrench in your spending. Don’t let a lack of cash flow dampen the fun in your life.

Previous to 2020, inflation had not been over 3% since 2007. Easy for us to get complacent and forget that the decade of the Seventies had the longest period of sustained inflation. US Inflation Rate by Year: 1929-2023 (thebalance.com)

If nothing else, this six month change in 2022 has taught us to always leave a bit of wiggle room in a spending plan for future years. Inflation does happen. Lest us not forget to start to plan for it as a fact of our financial life.

Thrift & Ben Franklin

As a gift, I was given a 1960 copy of Poor Richard’s Almanac sayings. (Thanks Trish!) You may recall that Ben Franklin as the publisher of Poor Richards Almanack.  He was brilliant and his words still apply today.In his chapter titled, “How to Get Riches” is one of my favorite lines:

“The Art of getting Riches consists very much in Thrift.” (p.19)

This I find so much to be true.  From my experience of working with high-end clients over the past few decades, each and every one of them has created their priorities.  They do not spend frivolously or randomly.  They may have a lovely home.  From there they chose a few areas that are important to them.  So, whether it be travel, clothes, education, where their money goes, they are content rather than looking to spend more. 

Spending just for the sake of spending is not in their repertoire.  They are thoughtful when making decisions about their money.  I find that these conscious souls know how to share with others while taking care of themselves.  Self-care never means going “overboard” as some people insist with their money.

In contrast, some of the folks striving to get ahead do not prioritize in the same way. Here is what I hear from the “average” person:

·       I just got a raise; I might as well splurge on dinner.

·       As I am going on the trip anyway, I might as well spend the money.

·       Another hundred dollars won’t matter.

These sentiments are not in line with “The Art of Riches consists very much in Thrift.”

Consider where you are thrifty and where you are making conscious spending decisions.  Then, from that point of clarity, build on good decision making for the rest of your financial life.  Ben Franklin would be very proud of you as build riches through Thrift.

To stay on your path to thrift, sign up for the MoneyPeace Monthly newsletter:

We would love to have you subscribe. MoneyPeace Newsletter — MoneyPeace

St Patrick and Riding the Wave of the Stock Market

St Brendan

Beyond Saint Patrick: The Other Important Irish Saint

Studying the facts of history can make you change your perspective. For example, have you heard of St Brendan? He is a much lesser known Irish saint who discovered America. According to history, he journeyed across the ocean to a new land in the 6th century.

He had his team of monks for his sail boat and lots of sailing experience. They sailed for months and months, before finding what they were looking for: the Promised Land of Saints. The trip was well documented technically. No miracles were recorded just pure practicality with time and distances travelled. He was gone from his native Ireland for years.

This “Irish Sailor Saint” sounds inconceivable. Despite the stories and documentation, how could anyone cross the ocean in a basket-like wood frame boat that was covered in ox hide.

Find this hard to believe? Well, if you can read Latin, check out his Navigatio. Christopher Columbus was said to have made a stop in Ireland to read this work. His writings are full of details and information about his journey.

Suspend your disbelief for a moment so that we can use some of his story for today’s history lesson. Here are some of Brendan’s pointers we need today:

  • He took risks - These were physical risks with a bigger motivation. But they were also calculated risks as he had a team and the guidance from those who had gone as far as Iceland on an ocean journey. He was not expecting a miracle. He was prepared.

  • He had a plan – The plan included a solid sailboat filled with food and an understanding of the ocean.

  • He had faith – This is the intangible piece that we all need when we take on something different or new.

This must be a myth you are thinking. Well, many people thought so. Then, in 1976, Tim Severin, an adventurer and scholar, reenacted the voyage. He left from Ireland and eventually landed in Boston. ( I went to see the boat and crew on a warm summer day in 1977.) The boat made it. The crew made it across the Atlantic. So perhaps there is something to Saint Brendan discovering America.

Both crews that crossed the Atlantic needed perseverance in the storms that surrounded them. They had some calm seas but the powerful inner strength came through in adversity. In this world of quick service and instant internet information, we are having a moment when we are all in need of perseverance.

When you are thinking about the stock market this Saint Patrick’s Day week, consider the questions of Saint Brendan:

  • Are you prepared?

  • Are you being practical?

  • Do you have a bit of faith?

Watch those who have gone before you. Whether in sainthood, family lore or history, having role models and stories help us today. When there are no clear answers, there is history and story to support and remind us that life will go on. And there has been a long line of people gone before us who have endured. And a few saints as well.

ABC's of Personal Finance

Here is how I spent my time on many Mondays pre-pandemic.  The long-time television show "Across the Fence" had me one for Money Monday. 

Spend fifteen minutes watching or listening.... Gain Knowledge and Save Money. Search here and find some valuable information to keep you financially sound.

http://www.uvm.edu/extension/atfence/?m=201808

Does the Stock Market Direction Match Your Mood Swings? 

This Week’s Ups and Downs but mostly Downs, have many people struck in terror. First of all, as of this writing, the stock market is down 2% for today. Yes, you may say but what about the week? While let’s look at the long-term picture for a better perspective. Since this time last year, the market is up. Not a lot but higher than it was on December 6th in 2017 as far as the Dow Jones and S&P are concerned.

Second, the real question is….How are your investments doing? Technology for example is up. If you have some equity diversity and bonds in your portfolio, the decline of the past few days may be balancing your portfolio to the point where the losses are not so dramatic. Look closer at what you before you panic.

Third, do you have cash? Not just in your pocket but in the bank. Perhaps as part of your asset portfolio where you can access it if you needed. Remembering that cash is one of the three main forms of investment is essential to managing your money. Despite its poor return record of the past ten years, the reason cash is always in style is for its dependability. The currency is always there and insured if parked in an FDIC insured account.

Finally, if you are truly affected in your daily life by the market swings, this is a time for a two pronged improvement to your life. One, take the time to create an investment strategy that matches your age, needs, and personality. Talk to a professional investment person who can educate you and create this for you, before making any changes. Two, do some important work on yourself by finding ways to decompress more in your life. Your health is worth it.

Meantime, know what you can control and cannot. You cannot change the market. You can change your investments. Most of all, you can lower your stress level with some good information.

Traveling? Spending? Think Ahead.

According to CBS this Sunday morning, “over 60% of Americans are planning to travel on vacation this summer.” We are post peak of the pandemic and many people are jumping at the opportunity to get out, do some things and have fun socially – something we have been unable to do since March 2020 – and for those of us in the winter tundra of the north – since September/October 2019.

The human urge is to jump on board and get going – whether it is a vacation or new car or clothes to look fabulous, we are making moves. The issue will come up if we are not making conscious well-thought-out choices.

After all, so many were nesting during the emergency orders that the housing market went crazy. As did the remodeling market. Yet, according to the experts, almost 30% of people who bought houses regret their decision.

So before you do any more spending beyond the basics, take a moment to set an overall intention such as remaining financial stable. Review your values.

Then, take the following steps:

1. Reassess what you need and want in your safety account.

This is the money in savings for unexpected events. Just because we experienced a once in a hundred years pandemic, does not mean another event will not strike you personally or the world globally.

2. Plan what you want.

Over the past year and half, people have gotten great at naming the basics that they need to spend on and a few extras, like Netflix and Door Dash, to get them through the hard times. So planning that vacation or for new clothes or sporting equipment the time has come. Rather than an unlimited budget or credit card long term pay off, decide now what is reasonable to spend.

3. Set aside that amount you need

Either in cash, a separate savings account, or noted with a sticky note on your credit card. That reminder will help you stick to plan and give you permission to spend without going over the plan.

4. Enjoy!

If you do not enjoy what you spend on, then there is no sense to money at all. We are meant to have fun. Buying with a plan helps you have no regrets.

Be Smart, Be Slow and Thoughtful as you emerge.

Conscious Choices, Live Peacefully.

It is happening!

We are emerging from the pandemic lockdown mentality. Though variants and vaccine stragglers abound, there is the socializing side that so many are struggling to get used to again. Then, there is the piece that is gaining some traction but not enough attention.

Emerging financially. Our spending habits changed with covid. First there were none – with eating out dropping majorly and credit card use plummeting. Then, we began to adjust to home and with it the cost of monthly subscriptions to keep us entertained, in shape or stretching personal growth. The next step of the financial pandemic was home improvements over looked or not necessary until we spent so much time at home. Finally, the housing plunge which is still going on. The demand for a home in the suburbs or country were powerful.

The need for more sweats, less makeup and creative recipes changed us and our spending habits. Now, we are changing again. I have events to go to! I need clothes! I get to go somewhere without a mask. There is a global demand for lipstick. Dinner out is an option. A respite from takeout is available. Those recipes may collect dust.

How do we manage this radical change to our spending habits without damaging the savings we have built? A bit of planning always helps. And before that creating your own money philosophy so you do not get washed away in the fun of shopping, traveling and upgrading your home without thought.

How do you do it?

1 - Create your values list.

What three things are important to you? Health, Family, Adventure, Spirituality

Do it with your partner if you have one. But only after you have each done it yourself.

2 - Remind Yourself!

Once you know your priorities it is important to remind yourself. Maybe a sticky note on the back of your credit card. Or on your computer so before you hit that one click purchase option you can realize how important it really is to you. Or is it an impulse purchase.

3 - Look at Your Income!

Then, take the practical piece and look at your income. Do you know where it is going? For example, households on average have 22 subscription services. Your priorities are changing as we reemerge. So maybe all of those are not critical to your well-being. More than a few may not match your values.

When we spend our money to match our values, we feel better – more peaceful about our spending. Knowing what is really not as important, makes managing money so much easier.

So with those major values in mind, consider what you have for disposal money after the basics of living – food as in groceries, not eating out, housing monthly costs, not including decorating, and transportation and medical and insurances.

4 - Decide what spending supports your values.

For example recreation may be that class you take or golf course you belong to or the travel to kayak on a lake. Keep those in your spending plan.

Decide if the you would feel better if you had spending set aside for the each of your values.

I have clients who feel guilty about spending money on vacation. Yet, time with their spouse is a priority. Setting up an account that they save in and then use it exclusively on vacation, prevents them from stopping themselves. There is money set aside for something they enjoy and appreciate. They find it easier to follow through.

After all, what you spend money on is as important as what you do not spend money on.

Enjoy your money, You deserve it!

Just plan a bit differently and come up with your philosophy first.