Category Archives: Values

Money, Values and Choices

 Home Sweet Home?vanTo some people making and having a lot of money is about buying things and having stuff.  To others, purchasing or non-purchasing decisions are based on other value systems.  I found this article about a major league baseball player who lives in a van behind a Florida Walmart to be very insightful.

Hoping you read and enjoy it!  Just click here to learn his story.

 

 

 

 

 

Women and Money- Limiting Beliefs

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I used to think anything related to finances is all about the numbers.   After meeting with hundreds of people concerning their personal finances and investing, it became clear that it’s more about feelings and emotions than it is about the math.

There is a really wonderful article on the blog Frugal Confessions by Amanda Grossman titled Do You Have This Limiting Belief about Money?  If you are feeling a little (or a lot) inadequate when it comes to managing your finances, just click here to read what Amanda has to offer, get some confirmation that you are not alone, and learn that there are some simple ways to start doing better.

 

 

 

 

 

 

 

Empty Mansions– Living the Good Life?

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I just finished reading the book “Empty Mansions” by Bill Dedman and Paul Clark Newell, Junior.  The title says it is about “The Mysterious Life of Huguette Clark and the Spending of a Great American Fortune”.

Any book with the words fortune and spending just calls to my financial education mind.  It would seem that a book about wealth would be all about what we call “living the good life”.  I learned that the title refers to the empty properties Huguette continued to maintain even though she didn’t live in them.  Interesting.

This book is about a woman and her story which revolves around extreme wealth, business, family owned businesses, decision-making, relationships, trust and distrust, and how money can be both a blessing and a curse.

Personally, it took me a long time to learn to deal with money in an unemotional manner.  The main character, struggled with that for a really long time as she was born in 1906 and died in 2011. She dealt with a lot of emotions and they often guided her decisions.  For Huguette, these decisions usually involved  large sums of money. The world changed radically during her lifetime and she also outlived her close relatives.  Some of the change was more than Huguette wished to deal with, so she created a lifestyle which was strange and unconventional to most ordinary (and even wealthy) people.  Her needs for security and safety as a wealthy person played a big part in how she spent money.  As an elderly woman  it appeared that those who were caring for her may have taken advantage of  her financially, even though the medical professionals found her competent.

It is hard to imagine the majestic homes her father created with his wealth  and the mind-set of  Huguette who was born into such a lifestyle and never knew anything different.  Still, I was struck by the similarity between the decisions she had to make about  businesses, advisors, and income management, and those made by the rest of as we manage our personal finances or make lifestyle and financial decisions about the senior citizens our lives.

Was Huguette happy living what most would see as “the good life”?  It is hard to tell.  That is the mystery which remains in her interesting life story.

Until next time.

Debra J. Hadsall

What Do You Really Want?

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What do you really want?

As a financial advisor, this is a question I spent a lot of time asking my financial services clients.  The answer to this question is really where all things start in our personal, professional, spiritual, and financial lives.  However, in our sound bite world most people seem to skip the first part of the process and jump over to making decisions and taking action, not always based on a foundation of understanding first  “what I really want”.

What Do You Really Want is also the title of a book  which is targeted to teens and written by Beverly K. Bachel.  I didn’t know anything about this wonderful book until it was shared with me by one of a woman who works on a volunteer project we lead.  Our activities involve some wonderfully talented young women who may not have always had the opportunities we had.  So, the volunteers simply spend some time with the students and teach life skills.  For the high school students who are seniors, Ms. Bachel’s books seems perfect.  It formalizes the topics we have discussed over the last three years and gives them an easy way to roadmap their lives…based on their hopes, dreams, and goals.  It encourages them to focus on what they want, not necessarily what their friends, families, or boyfriends want for them.

As I started planning how to compress all this wonderful information to make it meaningful  in a lunchtime setting, I was struck by how valuable it is for not only teens, but for all of us.  Parts of it mirror conversations and processes which are in my Financial Freedom Party for Women, A Little Book about Money for Women.

I encourage you to check out Ms. Bachel’s book ( mine too!) and consider sharing  it/them with the young people in your life.   Not only will they learn things and have a process to record them, you will probably learn a lot about yourself as you lead them through the book (s).

Until Next Time

Debra Hadsall

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My Monkey Mind-Cultural Differences

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My monkey mind postings relate to Buddha’s description of the human mind as being filled with drunken monkeys, jumping around, screeching, chattering, and carrying on endlessly. These postings come from my monkey mind.
 
While walking around the town we moved to in the hill country of Texas, I was thinking how different it is culturally from the small gulf coast town where we had been living until recently.  I was recalling  how I had been telling  a young woman there about my mother’s recent move to a nice retirement community.  She had been around my mother and gotten to know her a little.  I could tell that my young friend probably didn’t really know understand the idea of an independent living retirement community, assisted living, or nursing homes.  As with many people in the area we lived, her family roots were in Mexico. 
 
Her reaction reminded me of a presentation I made to a group of people who had recently arrived in Colorado.  One of the not-for-profit agencies offered life skills training to them and I was asked to speak.  Of course nobody told me it was going to be to a group who only understood Spanish.  It was an interesting evening and I learned a lot.
 
Everything had to be translated by their teacher.  She was motivated and capable, so all was well.  It was just a different rhythm than past presentations.  I explained topics such as checking accounts, car insurance, pay slips, insurance, and even investing.  She would then play it back to the group, in Spanish.  She could have said anything, what would I know?  So learning to trust another with my information was the first lesson of the evening.
 
All was going well and the audience seemed to be getting it so I decided to include information about long-term care insurance.  I made my statements and waited for the translation.  When the teacher finished, everyone in the audience started laughing, giggling, and looking at me like I was just a little crazy. There was a big change in the noise level in the room.  The teacher laughed a little too.  I asked her what had made them react that way since the topic never generated that reaction before.  She explained that in their culture nobody goes to retirement or nursing homes, except the nuns.  The elderly are simply a part of the extended family and are cared for by children, grandchildren, and others in the family.  The idea of buying insurance to pay someone to care for them when they were old seemed ridiculous, funny, and clearly a waste of money.  They were entertained, but not impressed.  A first for me.
 
After that evening I would preface my long-term care insurance presentations to acknowledge cultural differences, and then explain the potential value to the customer.  Like I said, I learned a lot that evening. 
 
Until next time.
 
Debra Hadsall
 
 
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 www.financialfreedomparty.com
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