Financial Planning for the Financial Planner

Here is a piece from Marcee who has helped me with my financial planning over the last many years.  She doesn't do a lot of writing to my knowledge so this story about her personal family experience in the Thanksgiving Season was worth passing on--ENJOY!!

We are watching the slow disintegration of Europe's political and financial safety net that it so carefully constructed after WWII to ensure that it would never have a reason for war within its borders again.  It is clear that there is no escape from the global consequences, though we cannot discern what those consequences will be.  We are living in an era of epochal change (think "fall of the Roman empire" or "discovery and exploitation of America").  We don't have a choice in the matter and there's nowhere to hide where we would be protected from the fallout.

The likelihood that the future won't look the way you imagined it is quite high.  That doesn't mean that you'll be tossed onto the garbage heap of life, and have nothing to look forward to but some version of the End of the World as We Know It (as depicted in so many movies) but it does mean that you shouldn't cling to your expectations or your sense of what's due you.  Life isn't fair, and for most of history people have had to live with what we consider to be extreme uncertainty.  We were the unfortunate generation that came to believe that life owed us everything, and that "every day in every way things are getting better". Not so.  We are now having to come to terms with the reality that we are no different from any other generation of people who have lived on this earth, and no more in control of our lives than they.

However, we do have control over the choices that are presented to us (there are always choices) and it is in making prudent choices that we can affect our personal outcomes and those of the people closest to us.  For some time now I've been talking about FLEXIBILITY and CUSHION.  You'll need both to successfully navigate the rapids  we find ourselves in.  

The Age of Aquarius

In Jr. High School chorus,  sounds weird to say now, we sang this song (Aquarius) in addition to others like "Rubber Duckie".  Here is a link if you want to see the lyrics and be reminded of the Pop Chart hit of 1969.    http://www.elyrics.net/read/0-9/5th-dimension-lyrics/age-of-aquarius-lyrics.html  That's enough nostalgia so on to today 11-11-11.  This is a date that for many is considered the beginning date for the Age of Aquarius and the end of the Piscean Age. 

Now I'm not into astrological signs and stuff like that but let's assume for a minute that TODAY is the beginning of the time of AWARENESS versus the era we are told is being left behind--that of INFORMATION. 

Lately we have been asking ourselves and others what skills and characteristics would be desirable in this new era.

Precious Mail

The photo attached to this post is of me at the age of 15.  The birthday wish I never saw until this week came from my step grandmother Beaulah who died recently at the age of 98.  She loved to fish and show me how you could freeze catalpa worms and later thaw them out and they would come to life.  Great stuff for a kid for sure. 

Dovie, the stepmother, found this in Beaulah's things and took the time to send it to me.  At 54 years old now I was all choked up reading a message encouraging me and lifting me up all these years.  The power of a handwritten note along with the thoughtful words and pictures trumps any email or virtual message I have received EVER.  Why is that I wonder?    I am inspired to put words on paper in purple ink to support and encourage others (especially kids) even if they never even know it was written. 

I think Beaulah would be proud to know me today. For the readers of this post--if you think you are one of the "wrong crowd" folks-- please let me know as soon as possible :)  You see there is a legend about Beaulah that suggests it is not a good idea to disappoint her.

Best vs. Suitability Standard

You ever go to a store when a sales person asks--"Can I help you find something?" To which you reply--"I'll know it when I see it."  That is similar to what is often said when we meet with new prospective clients.  "I knew there were people like you I just didn't know how to find you." 

There is a HUGE debate right now in Washington regarding accountability and legal responsibility for companies who claim to be FINANCIAL-- ADVISORS, CONSULTANTS, PLANNERS, ETC.  The companies who manufacture products--insurance, mutual funds, etc.-- like to call themselves anything but salesmen.  The products are needed but the "advice" they give struggles to be objective.  

I Do Dis Cuz I Can

1. Last week or so I was told about an article in the Oklahoma Gazette about the biggest users of water in Oklahoma City.  There were acknowledgements both for Commercial and Residential consumption.  I have not seen the results but here are a few observations:    1)  the people telling me thought the residential consumption was impressively high.  2)  The commercial user was government.  3)  The picture of the car in this article says "I Do Dis Cuz I Can" which is of course their right to do and for me seems silly but appropriate for this post.  4)  I am much better at judging others behavior than my own ;) 5)  Is whoever has the biggest pipe, the strongest pump, gets there first, best lawyers etc. the "I Do Dis Cuz I Can" mentality the way we want to do Water?  

Death by Spoon?

It doesn't come to me the context of our conversation at the time so be gentle with me on this one.  While talking to my 10 year old (double digit) friend recently the question came up "If you knew you were going to die would you rather die from a spoon or a sharp knife?"  This question has now been repeated to several boys of a similar age to which each responded much the same--A SPOON.

How Would You Vote?

Today, it was announced that the Greek Prime Minister (not going to try and spell Pop and Drayo) is going to put the Euro Zone bailout plan to the vote of the people. The European Union came up with a plan to bail Greeks out from their significant debt and make it possible for them to repay.

In a separate conversation, it was also mentioned that when you look at total debt for the United States, including Social Security, Medicare,  consumer debt, corporate debt, and government debt, our ratio is eight to one. That'd be eight times more debt than we have in income.  According to the commentator, that is worse than Greece. 

So, my question is. How would you vote if some kind of an austerity