The Best Laid Plans

I vaguely remember in grammar school having a lesson dedicated to learning how to balance a checkbook. That's one lesson, for one hour, on one day, in one year of my entire elementary. Personal finance was treated as an extra curricular topic, not worthy of taking away class time from reading, writing and arithmetic. Perhaps the educational system figured learning math was enough. I don't even remember if Home Economics was offered at my high school and if it was, it was likely considered an optional course. I don't think I understood the term 401K before my first job or even had a concept of what personal investing was except the hint from the commericals about EF Hutton talking and people listening. The people who listened didn't seem like regular people! They seemed like important people, people who knew important things a Catholic school girl from Queens, NY who had a mom who spoke with an accent and a dad who worked with airplanes couldn't possibly know. The fundamental difference that lies between the DONE.COM generational demographics is the parents who listened to EF Hutton early on and the parents who didn't. Of all places, The Christian Science Monitor has a fascinating demographic split among 11 groups in the country that reflects voting issues. I've included the link here as it's a great way of understanding how the nation is split not only economically but politcally, too, http://www.csmonitor.com/patchworknation/.

Somehow my parents managed to send my sister and I to private schools from kindergarten through high school and we both attended an Ivy League University. While they believed that providing for our education was the best way they could help us get ahead, they sacrificed properly building their own retirement savings. With the stock market gone manic, even folks who did carefully plan for retirement took a beating. Yesterday I heard from an old friend who got laid off from her job. She worked in the financial industry. While just weeks before, I saw my work colleagues get laid off, somehow this news hit closer to home. I had just bumped inot her bike riding in the city over the summer! My company had gone through a merger earlier in the year and the final cost cutting measure to firm up the books was a (second) cut in headcount to offset aggressive projections and the soggy economy so to me the layoffs seemed...expected. My friend losing her job seemed unexpected and that made the economic crisis feel much more real to me. I have long since gave up my weekend shopping trips to my local consignment shop along with long and buttery, boozey dinners out. The irony is my friend and I used to be neighbors and back in '03 we were both unemployed for a spell and took our sweet time getting back into the workforce. Of course, my rent was half it is now and I drained my savings entirely during that period so I'm sure there is an increased urgency for anyone out of a job right now.

What if you're like me and still want to be DONE.COM? Or you are miserable at your current job and need CHANGE? Is aspiring to a different situation still possible now? YES WE CAN. Remember early on I talked about that country house? Well, it will likely be impossible for me to get a mortgage anytime soon so I'm glad I have my little nest egg (little as, in quail egg) to fall back on. I'm certain my friend will land on her feet and has some breathing room to find a new job (she still lives in that cheap apartment building I left). Remember also when we talked about goals? Yup, this is the time when you review and adjust those. And if you don't have specific goals, this is sure when you should start. In times of crisis, if you're in relationship, it's good to know BEFOREHAND the goals and values you and your partner share as crisis can strike at any time (I'm learning this the hard way).

Did I mention the marathon is 11 days away? I can't wait for it to be over though true to my personality, I already have separation anxiety about it. (Can one actually have separation anxiety for a goal?) I did the work, and though I thoroughly am enjoying my taper (probably too much which means I likely cut my mileage too generously) I still feel like I will have a good race. Of course if the weather is off or my knee gives out or I just have a bad day, things could change. But things could CHANGE for the better, too. (PS. VOTE FOR OBAMA.)

Sober October

This post is a bit overdue as the country’s economic situation has slid from bad to worse in a matter of weeks causing a trickle down affect that hit home as staff cuts were made at the office of yours truly. Three people in my office have been laid off with two other people required to reduce their hours and status to part-time employees. The challenge of establishing a lifestyle calculator still remains however I was able to find online the site, http://www.lifestylecalculator.com/. The formula is very basic and there is a disclaimer that results are an approximation (translation: unrealistic).

Warren Buffet did a last minute interview with Charlie Rose as the impending Congressional vote on the $700 billion bailout of the economy loomed. Buffet quoted a surprising statistic. He said that 20% of the U.S. population has a household income about 20 thousand dollars a year. Talk about an unrealistic lifestyle. Buffet also summed up the housing bubble well by saying it was caused by three I’s; Innovators, Imitators and Idiots. Mr. Jones saw an opportunity to make a profit in residential housing considering the low interest rates and easy loans. He may have even made some money in the market but then all of Mr. Jones’ neighbors wanted to keepup with him and get in on the action. The idiots are the ones who bought houses they couldn’t afford and then couldn’t sell. Make something idiot proof, be sure, they will make a better idiot.

While the Waltons, Keatons and Huxtables were broad demographic profiles from my last post, it helps narrow down psychographics, an important consideration of DONE DOT COM. How much is enough? What are your values? What are your priorities? What are your future goals and plans? The link below is a timely Q&A with my girl, Suze Orman that appeared in The New York Times Freakonomics column this September. Check out comment #30 in the reader responses. Yes, it’s ME!!

http://freakonomics.blogs.nytimes.com/2008/09/19/suze-orman-answers-your-money-questions/

Being DONE DOT COM and staying done means being prepared for hard times. I’m really hoping my colleagues will land on their feet soon. Buffet cautioned that unemployment will continue to go up before it goes down and that even with the bailout things may take anywhere from six months to five years to improve. Almost Done is about volunteering and remaining engaged in civic or charitable causes. If you read Obama’s speech or have been following his campaign, AmeriCorps plays a big role. There’s an expression that in your 20s you take, in your 30s you begin to give back. Why not get a head start? Also, anyone facing unemployment in a slow job market-volunteering can be gratifying on many levels and is also a great way to network. People looking to give back in the NYC area should check out www.nycares.org which offers incredible flexibility and a variety of options for retirees, job hunters with extra time, full-time workers, anyone really who wants to give back.


Incidentally, Sober October isn’t just a commentary on the economy; it’s literal for me as well. This is the fourth year in a row where I go dry for the month of October. That means no booze for 30 days. It will actually be 32 days as I plan on holding out until after the marathon on November 2. I ran an 18-mile race on Sunday. It was unseasonably warm and the current stress at my job made it a HARD three hours and twenty-four minutes. I want to thank the guy who told me to keep going when I stopped running to squat down and stretch my weary back and knees at mile 16. I’m eager to get my life back; I’m looking forward to a week(s) with no running. I’m looking forward to spending more time with my manfriend who continues to amaze me with his random acts of sweetness. The past four months have been some of the most physically challenging of my life. I compare it only to when I complete a four-month long yoga teacher training course in 2001 (yes, I’m a certified teacher). I am probably in the best shape since I completed that course almost 8 years ago. I realize my experience teaching yoga profoundly affected who am I today. I think this marathon will have a lasting impact as well. And I’m also thinking my manfriend is a keeper, too.