A PLACE TO LEARN THE BASICS OF FINANCIAL MANAGEMENT – BY WOMEN FOR WOMEN

Archive for December, 2013

Before The Kardashians We Had Gloria, Bella, and Oprah!

This is a re-posting of an earlier blog.  Enjoy and please share!

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Today, while channel surfing, I was lucky enough to land on the HBO channel which was showing a documentary about Gloria Steinem.  Lucky because most of the attention on other channels was focused on current media favorites, the Kardashians.

I used to assume that most women know about Gloria Steinem, Ms. Magazine, Bella Abzug, and others in the women’s movement which gained momentum in the 1970s.  Whatever you may have felt, or still feel about this time of great change, the results of the efforts of Gloria Steinem and others around her have had a significant impact on the personal, professional, and financial lives of women.

Recently I have begun to wonder if the young women of today are being taught about powerful and successful women who have helped us to arrive at where we are today.  Have they heard the names of Gloria Steinem and Oprah Winfrey as often as they experience minute-by-minute reporting on the Kardashians?

Gloria Steinem is now in her late 70s and it is understandable that not all young women have studied much about her, yet.  However, I just assumed that everyone who is old enough to watch television or surf the internet would know about Oprah Winfrey.  Not true.  Recently I was visiting with a group of young women who are in high school.  I discovered they really don’t know who Oprah is, what she has accomplished, or even how rich she is.That is interesting since rich is usually something teens care about. This lack of awareness of Oprah was a big surprise.  Fortunately I have listened to Oprah’s story often enough to recite it to them.  After that, I started bringing a few copies of O Magazine so the students could learn more.  In another conversation, I discovered that each of them could immediately identify Kim Kardashian and knew all about the man in her life, Kanye West.  Major reality check for me!

It is exciting that the blogosphere allows the writer to reach out to people of many generations all over the world.  If you are reading this and find that you are clueless as to who Gloria Steinem is, or what she stands for, please just “google her” or even watch her story on HBO.  Perhaps you have only a passing understanding of Oprah Winfrey’s life and accomplishments. Once again, a quick google will teach you a lot. 

I am grateful we are no longer living in the times when Gloria and Oprah were starting out and leading their own special brand of change for women, but I do know it is important to understand the past to appreciate today!

Until next time.

Debra Hadsall

http://www.financialfreedomparty.com

http://www.ffptalk.com

A Billion Women

Looking for a very insightful and forward thinking article about women?  Just click here to read from Bloomberg.com an article titled”  A Billion Women Are About to Transform the Global Economy.”

Enjoy.

Debra Hadsall

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http://www.financialfreedomparty.com

www.ffptalk.com

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

New Year, New Chance to Increase Retirement Contribution$$$

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When I was a financial advisor, I learned that the time between Thanksgiving and January 1st was going to be a slow time for me in terms of working with new clients.  Yes, existing clients were often on vacation and using that time to catch up with me and to check in about their accounts and plans.  The rest of the world seemed to be waiting until the first of the new year to really think about their goals, dreams, and how their finances could be changed or improved to meet them.

Every year about this time I would print out a new list which showed the maximum contributions allowed in various types of retirement accounts.  In reality, most people don’t contribute the maximum and often they just look at the list and give up.  So, just  remember, these are the maximums.  You can contribute less and work towards your goals.

To see the list for  2014, please click here.  Good information to know and to discuss with your advisor or with the person who is knowledgeable about your company or organizational retirement plans.

Please share with others.  As I often say, don’t always assume everyone knows what you know or takes the time to access

Until next time.

Debra Hadsall

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Shopping for the Glory of God?

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I clearly have shopping on my mind.  Really, who doesn’t?  First we have 24×7 advertising and reporting on “Black Friday”, “Cyber Monday”, and an incredible amount of supersized  holiday shopping media blitzes everywhere.  It is, after all, the biggest marketing cycle of the year.  It seems to start before Thanksgiving and doesn’t end until those “after holiday sales” in January.  For those of us who gave up shopping until we dropped, it doesn’t matter.  We get exhausted just observing others go through it.  Then there are always the financial and emotional aspects of all this shopping.  Sometimes a different take on the whole experience can help us regroup and refocus.

Recently I re-posted one of my articles about shopping. It was a start, but some of the most useful and thoughtful guidance I have received came from a sermon.  It became  an important part of how I deal with the craziness of the intense comsumerism of the holidays.  It is a message based on the Christian celebration of Christmas.  The sermon (or message) is called “Shopping for the Glory of God”.  I came to experience this sermon over and over because it became part of the work my friend Emily Mann and I did with creator of this message, Rev. Dr. Marti Zimmerman.   The three of us together collaborated on what developed into a book called First You Dream, A Financial Management Workbook.  The sermon is one of six in the workbook and they all focus on money, consumerism, and faith.  I personally typed  all those sermons for the manuscript, so I am pretty well acquainted with them!

I hope you will take a few minutes to experience the power of Marti’s s words and an alternative view of shopping for Christmas and holidays.  Just click here.

Until next time.

Debra J. Hadsall

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