Money can't fix everything

We sold our home of 34 years in 2001 and the new owners installed a professional kitchen, spending ca. $50,000 ($80,000 in today's dollars), and then got a divorce. The three signs of a marriage in trouble are 1) a new sports car for the husband, 2) an expensive get-away vacation, and/or 3) a ridiculous remodeling project for the wife. Or, maybe money just doesn't fix what's wrong.

Academe is having a short fall—Ohio State

Ohio State University (a few miles from us) is having a financial short fall: “The virus, things not related to the virus, the election, social unrest, a hiring pause, the inability to travel and hold in-person events, and even things like (the) leadership transition (at the university) have all had an impact on our fundraising to date,” Michael Eicher, senior vice president for advancement and president of the Ohio State University Foundation, said at the Nov. 19 meeting.

OSU brought in $113.9 million from 74,501 donors during the first three months of the 2021 fiscal year, which started July 1, according to the university. That’s 24% less than it brought in during the same period last year, when it raised $150 million. The number of donors during that period last year was 121,816, meaning there are nearly 50,000 donors who haven't given this year." (Columbus Business First, Dec. 1, 2020)

Most of that list looks Covid related to me. Even the so-called "social unrest." I'm retired OSU faculty and I know the "social unrest" had been building for years, egged on by faculty looking for some sort of "equity," but always encouraging divisiveness instead of true diversity, which should have included conservatives, but they'd all been chased away. 2020 has been a perfect storm building in influence and power incrementally since the 1980s through diversity and inclusion programming graduating people with no place to go. Yet now it's all called "systemic racism. The pandemic certainly worsened things, as the liberals all blamed President Trump and no one looked at the social turmoil the universities and colleges had been encouraging for years.

As the blue collar and service industries all continued in their "essential" jobs, the spoiled college kids signed on to march, destroy and disrupt with Antifa and BLM, and wealthy alumni waved their little flags in support.

10 tips for year-end estate and financial planning

We may not be in a position to do #6 (gift up to $30,000 to an individual if married), but we all need to do #10, organize our records for 2019, and shred documents no longer needed for retention.

Also, in 2018, you can contribute up to $18,500 in your employer-sponsored retirement plan (i.e., 401(k), 403(b), most 457 plans, and the Federal government’s Thrift Savings Plan). Employees aged 50 or older who participate in such plans can contribute an additional $6,000 in "catch-up" contributions. #3

https://www.natlawreview.com/article/year-end-estate-and-financial-planning-checklist-make-your-list-and-check-it-twice

Discounts for seniors

RESTAURANTS:
Applebee's: 15% off with Golden Apple Card (60+)
Arby's: 10% off ( 55 +)
Ben & Jerry's: 10% off (60+)
Bennigan's: discount varies by location (60+)
Bob's Big Boy: discount varies by location (60+)
Boston Market: 10% off (65+)
Burger King: 10% off (60+)
Chick-Fil-A: 10% off or free small drink or coffee ( 55+)
Chili's: 10% off ( 55+)
CiCi's Pizza: 10% off (60+)
Denny's: 10% off, 20% off for AARP members ( 55 +)
Dunkin' Donuts: 10% off or free coffee ( 55+)
Einstein's Bagels: 10% off baker's dozen of bagels (60+)
Fuddrucker's: 10% off any senior platter ( 55+)
Gatti's Pizza: 10% off (60+)
Golden Corral: 10% off (60+)
Hardee's: $0.33 beverages everyday (65+)
IHOP: 10% off ( 55+)
Jack in the Box: up to 20% off ( 55+)
KFC: free small drink with any meal ( 55+)
Krispy Kreme: 10% off ( 50+)
Long John Silver's: various discounts at locations ( 55+)
McDonald's: discounts on coffee everyday ( 55+)
Mrs. Fields: 10% off at participating locations (60+)
Shoney's: 10% off
Sonic: 10% off or free beverage (60+)
Steak 'n Shake: 10% off every Monday & Tuesday ( 50+)
Subway: 10% off (60+)
Sweet Tomatoes: 10% off (62+)
Taco Bell : 5% off; free beverages for seniors (65+)
TCBY: 10% off ( 55+)
Tea Room Cafe: 10% off ( 50+)
Village Inn: 10% off (60+)
Waffle House: 10% off every Monday (60+)
Wendy's: 10% off ( 55 +)
Whataburger: 10% off (62+)
White Castle: 10% off (62+) This is for me ... if I ever see one again.

RETAIL & APPAREL :
Banana Republic: 30% off ( 50 +)
Bealls: 20% off first Tuesday of each month ( 50 +)
Belk's: 15% off first Tuesday of every month ( 55 +)
Big Lots: 30% off
Bon-Ton Department Stores: 15% off on senior discount days ( 55 +)
C.J. Banks: 10% off every Wednesday (50+)
Clarks : 10% off (62+)
Dress Barn: 20% off ( 55+)
Goodwill: 10% off one day a week (date varies by location)
Hallmark: 10% off one day a week (date varies by location)
Kmart: 40% off (Wednesdays only) ( 50+)
Kohl's: 15% off (60+)Modell's Sporting Goods: 30% off
Rite Aid: 10% off on Tuesdays & 10% off prescriptions
Ross Stores: 10% off every Tuesday ( 55+)
The Salvation Army Thrift Stores: up to 50% off ( 55+)
Stein Mart: 20% off red dot/clearance items first Monday of every month ( 55 +)

GROCERY :
Albertson's: 10% off first Wednesday of each month ( 55 +)
American Discount Stores: 10% off every Monday ( 50 +)
Compare Foods Supermarket: 10% off every Wednesday (60+)
DeCicco Family Markets: 5% off every Wednesday (60+)
Food Lion: 60% off every Monday (60+)
Fry's Supermarket: free Fry's VIP Club Membership & 10% off every Monday ( 55 +)
Great Valu Food Store: 5% off every Tuesday (60+)
Gristedes Supermarket: 10% off every Tuesday (60+)
Harris Teeter: 5% off every Tuesday (60+)
Hy-Vee: 5% off one day a week (date varies by location)
Kroger: 10% off (date varies by location)
Morton Williams Supermarket: 5% off every Tuesday (60+)
The Plant Shed: 10% off every Tuesday ( 50 +)
Publix: 15% off every Wednesday ( 55 +)
Rogers Marketplace: 5% off every Thursday (60+)
Uncle Guiseppe's Marketplace: 15% off (62+)

TRAVEL :
Airlines:
Alaska Airlines: 50% off (65+)
American Airlines: various discounts for 50% off non-peak periods (Tuesdays - Thursdays) (62+)and up (call before booking for discount)
Continental Airlines: no initiation fee for Continental Presidents Club & special fares for select destinations
Southwest Airlines: various discounts for ages 65 and up (call before booking for discount)
United Airlines: various discounts for ages 65 and up (call before booking for discount)
U.S. Airways: various discounts for ages 65 and up (call before booking for discount)
Rail:
Amtrak: 15% off (62+)
Bus:
Greyhound: 15% off (62+)
Trailways Transportation System: various discounts for ages 50+
Car Rental:
Alamo Car Rental: up to 25% off for AARP members
Avis: up to 25% off for AARP members
Budget Rental Cars: 40% off; up to 50% off for AARP members ( 50+)
Dollar Rent-A-Car: 10% off ( 50+) Enterprise Rent-A-Car: 5% off for AARP members Hertz: up to 25% off for AARP members
National Rent-A-Car: up to 30% off for AARP members

Overnight Accommodations:
Holiday Inn: 20-40% off depending on location (62+)
Best Western: 40% off (55+)
Cambria Suites: 20%-30% off (60+)
Waldorf Astoria - NYC $5,000 off nightly rate for Presidential Suite (55 +)
Clarion Motels: 20%-30% off (60+)
Comfort Inn: 20%-30% off (60+)
Comfort Suites: 20%-30% off (60+)
Econo Lodge: 40% off (60+)
Hampton Inns & Suites: 40% off when booked 72 hours in advance
Hyatt Hotels: 25%-50% off (62+)
InterContinental Hotels Group: various discounts at all hotels (65+)
Mainstay Suites: 10% off with Mature Traveler's Discount (50+); 20%-30% off (60+)
Marriott Hotels: 25% off (62+)
Motel 6: Stay Free Sunday nights (60+)
Myrtle Beach Resort: 30% off ( 55 +)
Quality Inn: 40%-50% off (60+)
Rodeway Inn: 20%-30% off (60+)
Sleep Inn: 40% off (60+)

ACTIVITIES & ENTERTAINMENT ;:
AMC Theaters: up to 30% off ( 55 +)
Bally Total Fitness: $100 off memberships (62+)
Busch Gardens Tampa, FL: $13 off one-day tickets ( 50 +)
Carmike Cinemas: 35% off (65+)
Cinemark/Century Theaters: up to 35% off
Massage Envy - NYC 20% off all "Happy Endings" (62 +)
U.S. National Parks: $10 lifetime pass; 50% off additional services including camping (62+)
Regal Cinemas: 50% off Ripley's Believe it or Not: @ off one-day ticket ( 55 +)
SeaWorld, Orlando , FL : $3 off one-day tickets ( 50 +)
CELL PHONE DISCOUNTS :
AT&T: Special Senior Nation 200 Plan $19.99/month (65+)
Jitterbug: $10/month cell phone service ( 50 +)
Verizon Wireless: Verizon Nationwide 65 Plus Plan $29.99/month (65+).

MISCELLANEOUS:
Great Clips: $8 off hair cuts (60+)
Supercuts: $8 off haircuts (60+)

YOU must ASK for discount ---- no ask, no discount.

http://www.lifecarefunding.com/blog/senior-discounts/

http://www.bradsdeals.com/blog/senior-discounts

The article was about financial advice found in famous fiction

This was one of the comments on the article.

The greatest book of fiction has yet to be written.  That's only because its voluminous pages are still being made every single day, and appears will continue to do so daily for at least the next several years. 

In years forth, those historians whom are laboriously working to author the greatest book of fiction ever compiled from one man's public statements, will simply title the book:

"Campaign Promises and Other Guarantees Made By Barack Obama"

Denise Cantu

Architects and Engineers may be losing money through inefficiency

June Jewell, a CPA and owner of Acuity Business Solutions consulting, says the architectural, engineering and environmental firms she works for easily lose $100,000 each year through inefficient and ineffective practices.

“Of course, sometimes the waste is much, much more – and this goes for larger and smaller businesses,” says Jewell, author of “Find the Lost Dollars: 6 Steps to Increase Profits in Architecture, Engineering, and Environmental Firms,” (www.FindTheLostDollars.com). “The problems are usually so fundamental to a business that they will never see why and how they’re bleeding money; they’re too close.”

There are several nooks and crannies in which firms are apt to lack efficiency. Jewell reviews three general areas where most of these firms can turn unnecessary losses to gains:

• Company culture: While the culture may vary somewhat from one firm to another, architectural, engineering and environmental firms share some of the same characteristics. One is that their founders tend to go into business because they’re creative people who love what they do -- not because they’re business people. So they don’t focus on profits, and they tend to be casual managers with regard to employees’ time. Shifting the culture to a focus of being profitable is not only necessary for sustaining the business; it allows creative people to do more of what they love.

• Ineffective practices: Of course, there are many moving parts in an A&E firm, which means there are many potential areas for improvement. That includes customer service, time management, marketing, strategic planning, accurate budgets and estimates, and the cost of lost opportunities. Failure to create an accurate, meticulous job estimate, for instance, can have multiple consequences, from having disappointed clients to jeopardize projects to losing money because time, materials and other costs were not accurately forecast.

• Systems & IT: This is the third way to improve business management and increase profits. Technology is able to help companies leverage their resources more effectively, yet many of them are still using outdated software and non-integrated systems. By looking at systems as a strategic investment that can help them to be more competitive, they can realize a great return on investment (ROI) from their projects. While the transition from old to new software has its cost in time and work, the efficiency gained in future work production is worth it.

“I’ve worked with hundreds of A&E firms in my 28 years of consulting, and I see these shared problems so often, I offer what I call ‘the $100K Challenge,’ ’’ Jewell says. “That’s a guarantee that I can work with any business that’s doing a few million dollars a year in business and find $100,000 they’re losing in profits.”

In this post-recession economy, she says, it’s vital for firms to tune up their business management practices in order to thrive.

June R. Jewell is a CPA and CEO of Acuity Business Solutions and has written a book, Find the Lost Dollars.  Ginny Grimsley of News  and Experts supplied the article.

Today's new word--tranche

as in tranches of money. (see USAToday article of previous blog).

Tranche
A part of an issue. A tranche sometimes refers to a single issue of a security released at different times. For example, a company may announce that is intends to issue $10,000,000 in bonds in two tranches of $5,000,000. Tranches are important to collateralized mortgage obligations, which are backed by pools of mortgages. These mortgages are arranged in tranches that mature at different times, for instance in 10 years, 15 years, and 30 years.

Whodathunkit?

"Single women are in much worse financial condition than other Americans, according to an analysis of the Federal Reserve Board’s most recent Survey of Consumer Finances." an OSU College of Education prof was quoted as being surprised. I'm not.

Comparing Social Security with private investment for retirement

One of the better and easy to understand explanations I've seen. Especially that 100% death tax.

Income sources for wealthy retirees

The problem with Obama's desire to raise taxes is it is a job killer and a way to punish the successful--the dream of all socialists/marxists who want the power of the purse over everyone, not just the poor. I've never been in the top quintile of income, but I have roamed around the other four. And I've had a good life. The bottom quintile was when I was a married college student in 1961 living in an apartment with no car, and a job translating Russian medical journals, warming up baby bottles and changing diapers, and using a wringer washer 3 flights down that took quarters. The fourth quintile was when we were "DINKS" double-income-no-kids after the children left home in the late 80s, early 90s when I was an Associate Professor and my husband was a partner in a small architectural firm. Now we're both retired, and probably hovering between second and third.

But there are definitely wealthy retirees. Among people in the highest quintile who are technically "retired," 43.7% of their income comes from wages, salaries and self employment. Only 18.7% of their income in that group comes from private pensions, IRAs, annuities, etc. So when Obama is successful in raising taxes by scolding Americans about being stingy and greedy, this is the group who can afford to just stop earning income. That means zip, nada zilch to your state government coffers too. Now that's a huge problem, because unlike the feds, the state governments can't just print more money. They are obligated by law to stay on budget. Raising taxes collects less money for the government--especially from rich people who either can take their business off shore, hire a smart tax lawyer or just stop earning until somebody wises up after the next election.

But it's also a big problem for the government to be taking in a lot as it did during the Bush tax cut years, because politicians, whether Democrat or Republican, just salivate when they see those numbers, so instead of paying down the debt, they just increase the government programs.

Source for figures (not opinion) "Income of the Aged Chartbook, 2008," issued by the Social Security Administration, although I can't find a picture that exactly matches those--this one is close.

Bill Gates and Oprah Winfrey

Could two of the wealthiest Americans, neither of whom finished college and began working at their current career when very young--one black, one white, one female, the other male--have ever made it with the advice, encouragement and assistance of the Office of Financial Empowerment of New York City. OK--that's probably not fair. Could anyone, who is never reminded to get a job, or to save and invest, or to plan for retirement, or to even pay their bills on time, have even climbed out of poverty with the help of the Office of Financial Empowerment? If you liberals are advocating closing the gap between rich and poor, maybe you should look at the agencies that keep people poor?

I glanced through the on-line dictionary. Phishing and payday loan were defined, but not paycheck or salary. It does no good to build on a weak foundation.

Living cheap in New York

This one surprised me. Not that a 22 year old could live on less than $30,000 in NYC, but that she could also save $5,000, contribute to a retirement fund, and travel to Europe. Read about cheapskate's daughter at "Down but not out in Brooklyn." The keys?

Shared a nice apartment ($3,100 a month) and took the smallest room.

Used a subway card.

Ate inexpensive but healthy meals--beans and rice, whole grains, fresh vegetables, lentils, joined a food co-op. Ate at cheap restaurants.

Had no college debt to pay off.

Enjoyed the many free things to do in New York.

Wealth For Life Principles

These were found at Black Enterprise. I was reading an on-line article on how to survive on one income for a formerly 2-income household, although I'm not sure these 10 were part of that article.

1. I Will Live Within My Means
2. I Will Maximize My Income Potential Through Education and Training
3. I Will Effectively Manage My Budget, Credit, Debt, and Tax Obligations
4. I Will Save At Least 10% of My Income
5. I Will Use Homeownership as a Foundation For Building Wealth
6. I Will Devise An Investment Plan For My Retirement Needs And Childrens’ Education
7. I Will Ensure That My Entire Family Adheres To Sensible Money Management Principles
8. I Will Support the Creation and Growth of Minority-Owned Businesses
9. I Will Guarantee My Wealth Is Passed On To Future Generations Through Proper Insurance And Estate Planning
10. I Will Strengthen My Community Through Philanthropy.

I think it is an excellent list, although most of them we didn't follow (especially #8--even most hair products and hiphop music are white controlled). We were in our upper 40s by the time we even thought about saving for retirement (there weren't as many tax shelters back in the old days for the ordinary citizen). That's when I went back to work and joined a tax deferred savings plan. Before we became DINKS, everything that didn't go for the kids went to the house. We learned in our 30s about tithing our income (loosely #10), and I think that's a tremendous advantage to start at a young age. Just take it off the top, from the gross, not the net. I have my personal doubts that home ownership (#5) builds wealth. . . although its better than owning a boat. Owning income property and renting does create an investment, however. It's a huge hassle and one I wouldn't recommend for the faint of heart, but that crummy duplex we bought in 1962 put us on the road, not to wealth, but to better housing and income growth for us. For the first 25 years of our marriage our savings (#4) was "put and take" certainly nothing for the long run.

How do you cut costs?

That's a big topic in the media today--but it was four years ago too when unemployment was 4.5%, and in the 1990s, and the 1980s during the last big recession. I asked it June 28, 2005, then answered my own question (I do that a lot). I don't. I reread it today, and don't see any changes. Everyone seems to "cut costs" in different ways. Here's my list of non-cuts, and at my age, I'll probably not change what is working (hmmm--could be a motto).

Economically, it makes absolutely no sense for me to leave the house every morning at 6 a.m. and drive to a coffee shop. If you don't do this, you could exclaim, "But that costs you nearly $600 a year, when making it at home is about five cents a cup." Very true. But I read 2 or 3 newspapers, and see 4 or 5 people I know, chat with various folk, so as a social informational event, it's pretty cheap. Compare that $600 to a golf hobby, and you can see it is really pretty cheap.

We eat out about once a week--it's called our Friday night date. When my husband started his own business in 1994, this is one thing we cut for awhile, until we could see how our finances would be, but reinstated it quickly. Sure, I can fix the same thing at home for about $3.00 that costs us $30.00 at the pub, but again, it isn't food, it is R&R and time to focus on each other. It is also a line in the sand dividing the work week from the week-end, and when your office is in your home, you definitely need to keep this ritual (he also dressed for work each day, including a tie). About $1500 a year just to eat one meal. Ridiculous!

I could save about $400 a year if I stopped coloring my hair. That will come, but for now, I prefer to fool Mother Nature and the clerks who ask for ID when I request a senior discount. Brown hair turning gray is not pretty like a brunette turning gray (but prettier than a blonde or red head going gray--just a tip).

We usually get a glass of the house wine (red for the cardiovascular system) with Friday night dinner. I suggested to my husband that we just drink a glass of wine at home afterwards--saving Oh, maybe $500 a year (cheap wine), but he didn't go for that. Frugal, but not romantic.

We really don't need two cars now that my husband is retired. I suggested we get rid of his Explorer and keep my van, but since both cars are paid for (and he really likes his better than mine but his hurts my back). That would be a one time boost to the income, of say $6,000 (resale is the pits even on nice, well kept autos) plus a savings of maybe $300 a year in insurance and $200 in maintenance.

Pets are expensive. Kitty litter, cat food, vet bills, etc. I've not looked at the figures recently, but I think it is something like $6,000 over the life time of a cat, and more for a dog. If your daughter or neighbor won't stop by and look after the sweetie-pie when you're gone, you've got to add in huge boarding bills. But I'm not even going to think about that savings. Pets are good for all sorts of health benefits.

So you see, I could be saving and investing this to leave to our Alma Mater, The University of Illinois, but they didn't graduate any dummies, so we're spending wildly while we've got the chance.

Actually, the U. of I. item has changed. I won't send them ANYTHING because of Bill Ayers.

The purpose of a house

By poking around in the Plum Book for 2004, I think I've found the root of the housing problem. The government. The Plum Book explains the 7,000 Federal civil service positions, so as soon as the next one is published, Democrats will be all over it like flies on honey to see what's up for grabs. So anyway, I was browsing the Assistant Secretary for Administration of HUD, and came across the Center for Faith Based Initiatives and its Director, Ryan Streeter. Found this dandy little article by him about a viable return on housing investments (by the government) that he'd done for ROMA, Results-Oriented Management and Accountability (ROMA), U. S. Department of Health and Human Services in August 2001. He says there are two purposes for housing programs, but that they came about with no overarching plan (surprise!):

(1) There is the conventional view that says housing programs are a good in themselves, and
(2) There is the (more recent) perspective that says housing programs should promote the economic self-sufficiency of the people they serve.

Most federal housing is #1--designed to be shelter, with little plan or thought about the client's long term need. Block grants for shelter or for rehab or construction. But in the last 20 years (can we all say CRA?) HUD began to think more about self-sufficiency combining supportive services with housing services to get people off welfare (can we all say Republicans?). "These have become much more common in recent years. Approximately 1,200 local housing authorities sponsor a Family Self-Sufficiency program."

Of course, Mr. Streeter, continues, #2 is waaaaay more complex (and expensive) than #1. What he says the client gets is very vague--something about not living in an unstable environment and possibly increasing wealth if he becomes a homeowner. The other parties to this transaction are definitely not poor--they are developers, investors, contractors, the real estate market, surrounding homeowners and finally, we taxpayers. In other words, the government housing programs are a lot like the food assistance programs--they do a lot more for the producers than they do for the poor.

Ask yourselves how this has worked out in your own life. Unless you purchased investment/rental property, or were a home flipper in the last housing boom, owning a home didn't do diddly squat for your wealth. You think it did because of the home sale prices, but because of inflation and everything you poured into the house that you wouldn't if you had been a tenent, you are lucky to break even let alone accumulate wealth. What owning a home did for my family was provide shelter, a good school district for the kids, nice neighbors, a life style that suit my tastes and education, and a lot of job opportunities for other people in the housing field--real estate agents, plumbers, electricians, animal and pest control, house painters, pavers, lawn services, tree trimmers, and window salesmen.

We live in a lovely condo complex now with beautiful vistas, trees, ravine and creek, because in 1962 we purchased a dump--a 1912 duplex in a mixed zoning neighborhood in Champaign, Illinois. The student renters paid the mortgage, allowing us to eventually move out, rent both units and get a nicer place, plus have enough left to make a car payment. All other wealth we have accumulated in 48 years has come from salaries, savings, inheritance, and investments (one really strange one where we bought a building lot on a lake in Indiana for $10,000 and sold it the next year for $25,000 not putting a penny into it, except the guy who mowed the weeds, and never spending one night there.) We paid $28,500 for our Abington Rd. home in 1968, sold it in 2002 for $325,000 and paid $275,000 for this one. But we lived on Abington 34 years, put about $170,000 into various additions and remodeling, to say nothing of the general maintenance and decorating (taking out trees, putting up fences, taking down fences, putting in drive-way, replacing garage doors, fixing gas line leaks, rewiring the mess the previous owners had made, building closets everywhere (no basement or attic), treating carpenter ants, treating termites, mopping up after flooded toilets or washing machines, replacing things in the 90s that we'd replaced in the 60s, etc. We paid fees to sell it, and then had to put money into the condo to redecorate brown walls and red ceilings, bring it up to code with insulation, and got hit with a $7,000 roof assessment the first year. Just last week we had someone here to replace some rotting wood on the deck.

No, whether you do it for yourselves, for your children, for your parents, or the government does it for a low income mom with children from several boyfriends, you don't change lives through housing subsidies or grants. Take a tour through any prison, hospital, school or nursing home, and you'll see that it is not the building that changes lives or educates or makes people well. It's the same with us.

Now, will someone tell the government. Someone might need help with safe, comfortable shelter, but they probably don't need the nanny state trying to babysit and redirect their lives.

Looking for sob stories

"onCampus," the faculty/staff newspaper at Ohio State, is looking for a few OSU faculty or staff who have gone through a tough financial situation and were able to rebound from it. onCampus will choose two or three people and conduct interviews with those willing to share their stories. Please respond to Associate Editor Adam King at king dot 1088 at osu.edu or 292-8419 by Monday (11/10) if you are interested in helping others in a financial crunch learn from your experiences.

I don't think they'll want to hear from me. I've been in four of the five quintiles and have no complaints. I was bounced around by PERS and STRS when I started planning for retirement each saying my time off for children (you can buy a year I think) was the others responsibility so I didn't get it. I was passed over for one position because it was given to the wife of a OSU faculty member, and spent my years there in a department whose average salaries were less than other big 10 institutions. Oh well.

Besides, I'd just give them some ideas on being pro-active not re-active. For instance

1) save one salary and live on the other if you have 2 incomes
2) max out the 403-b (which until September was a good idea, maybe still is, we'll see how long Obama can extend this recession to make people dependent on him)
3) tithe your income
4) learn to say NO to yourself and the kids
5) don't take vacations until you're over 40
6) pay off the credit card in 30 days
7) live below your means
8) don't borrow from friends or family
9) keep your car for 8-10 years
10) one of you stay home when the children are little

There. I'll wait to hear from them.

Money to help the poor

That's probably the justification for the outrageous campaign expenditures of the Obama campaign. " Guesstimates from inside the broadcast television industry are that Barack Obam will spend $1.5 million per network -- CBS, ABC and Fox -- for Wednesday night's national 30 minute informercial. Now that's $50,000 per minute per network -- $8,333 per second per network. Altogether, $4.5 million in 30 minutes. Illinois Review"

The Democrats' idea of helping the poor is to take as much from you in the form of taxes--income, excise, death, phone, gasoline, sales, pass through (in over under around and through), VAT, etc. then pass it back to you in grants to your states, your educational institutions, your non-profits, your interstates, your transportation bailouts and subsidies, even your churches, all with handsome salaries along the way. Technically, it's a form of job creation with no product. The government doesn't create wealth, it consumes it, and sometimes uses the very people it steals from to do it. Like you. Watching the ads (never fear, Obama will make back the costs of his infomercial tomorrow night). Marking the ballot. Sitting back and waiting for the exchange and transfer of funds.

Note: I can't get the article at tv by the numbers site, but I'll keep trying. Maybe it's been pulled.

If you were poor or low income

sitting on the edge of the bottom quintile, hoping to move up a notch, which would you prefer:

1. a job in an Ohio coal mine in Appalachia at $25/hour, or a job at an interstate McDonald's at $8/hour serving the people from Columbus and Cleveland who come down to see the fall colors in Appalachia


2. the opportunity to shop at a Walmart on the outskirts of your community once a week, or driving 60 miles after filling the tank for the round trip to a Walmart 2 counties away to shop once a month


3. living in your humble 2 bedroom home which grandpa bought in a not so great neighborhood near your friends and church, or being pushed into a balloon mortgage out in the suburbs by developers who bought the land with the help of city council rezoning to "revitalize" the down town


4. being denied access to military recruiters who might make promises and come through on 50% of them, or hang out on the street corners with your friends and do a few drugs


5. a job that has potential but no guarantees, or the security of a steady income stream from WIC, low income housing support, food stamps and SCHIP


6. a used automobile that's not very fuel efficient or bus transportation that might get you within 2 miles of shopping and the doctor's office


7. a used automobile that's not very fuel efficient or a fancy 10 speed bike and snappy lycra shorts with matching helmet

Don't answer based on your income or education in 2008, answer truthfully what you would do if your income was $20,000 a year. Think local, not global, as the tree huggers would say. You can't create another scenario. This is my fantasy, not yours.

Worst advice I've ever heard

Last Thursday my husband called me into the family room to check out the Dr. Phil show. We sat there in stunned disbelief as we heard absolutely the worst advice on finances anyone could possibly be promoting. In fact, if his TV audience actually did what he said, I'm sure we would have been in a total financial meltdown by Saturday! I'm sure Phil and his friend Oprah and Rachel all have enough to get by, but there are a few retail clerks, waitresses, builders, truck drivers, etc. who need to stay in business. I'm surprised he didn't cause a run on banks and a new purpose for mattresses.

The Effort Diet

Seth says that effort is more important than luck, and suggests you try his diet

. . . here's a bootstrapper's/marketer's/entrepreneur's/fast-rising executive's effort diet. Go through the list and decide whether or not it's worth it. Or make up your own diet. Effort is a choice, at least make it on purpose:

1. Delete 120 minutes a day of 'spare time' from your life. This can include TV, reading the newspaper, commuting, wasting time in social networks and meetings. Up to you.

2. Spend the 120 minutes doing this instead:
1. Exercise for thirty minutes.
   
2. Read relevant non-fiction (trade magazines, journals, business books, blogs, etc.)
   
3. Send three thank you notes.
   
4. Learn new digital techniques (spreadsheet macros, Firefox shortcuts, productivity tools, graphic design, html coding)
   
5. Volunteer.
   
6. Blog for five minutes about something you learned.
   
7. Give a speech once a month about something you don't currently know a lot about.

3. Spend at least one weekend day doing absolutely nothing but being with people you love.

4. Only spend money, for one year, on things you absolutely need to get by. Save the rest, relentlessly.

If you somehow pulled this off, then six months from now, you would be the fittest, best rested, most intelligent, best funded and motivated person in your office or your field. You would know how to do things other people don't, you'd have a wider network and you'd be more focused.

It's entirely possible that this won't be sufficient, and you will continue to need better luck. But it's a lot more likely you'll get lucky, I bet.