"Though small was your allowance, you saved a little store: and those who save a little shall get a plenty more." William Thackeray

In our household we save our loose change for vacation. We have a special savings fund for the big expenses, like hotel and travel, but the change is for the extra fun money. My bank does not want the change rolled. That is nice when it comes to the time that requires, but I miss the satisfaction of sorting and counting out the piles.

Coming out of college, many recent graduates land their first “real job,” and with that job generally comes a nice paycheck.
 
It’s tempting to consistently go out and treat yourself because for the first time in your life you all of a sudden have “so much” money. Especially when you are used to living off a budget that consists of eating Ramen noodles. I’m not saying that you shouldn’t reward yourself for all of your hard work and dedication, but just be conscientious of how often and how much you are treating yourself to.

This was not the blog I had prepared for today, nope, that was about the importance of taking a vacation.  Instead, I’m sharing an experience I had on Saturday morning.

I’ve been on a mission this year to “be brave.”  To push me when I’m feeling insecure, I’ve hired a coach and I’ve interviewed lots of them on my Wine and Dime Podcast:

“I’ve missed more than 9000 shots in my career.  I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed.  I’ve failed over and over again. That is why I succeed.”

-Michael Jordan

We’ve all been there before… Whether it is coming up short on a personal goal like retirement or taking a vacation, failing to land the job we interviewed for or not getting the promotion we expected, not getting a passing score on an exam, we all have our failures. The thought of failing is always in the back of our minds and as human beings our brain has a natural instinct to protect us from pursuing the possibilities of improving our lives. The truth is, without failure we will never be able to succeed and some of the most successful people we hear about in the news are just really good at failing.  If you have ever let a failure hold you back from trying again, this is the article for you!

“A Strong Woman looks a challenge dead in the eye and gives it a wink.” – Gina Carey

 Last week I introduced you to Matt Fizell and promised more to come about Becky Partridge as well.  Becky started with us in April as an intern while she was finishing up her degree in Financial Planning from Alfred State.  We sure are glad she picked us and we are super excited that she has agreed to stay with us beyond her internship!

A now, a little bit about Becky …

“Either Run the Day OR the Day Runs You.” - Jim Rohn

I can’t believe that it is the last week of June!  Where did the time go? In just 6 days, half of 2018 will be over.   Will you be making any mid-year adjustments based on the first half of 2018?   I’m excited to announce that we are! Earlier this year we added Kate Welker to the team and she has been a wonderful addition.  Then we added Becky Partridge as an intern and she was a wonderful addition (stay tuned for more about Becky next week). Now we are excited to announce that we’ve added Matthew Fizell to the team.  

As you will read below, Matt lives in Madison, Wisconsin.  Matt heard me on a podcast where I mentioned my firm had grown to the size where I really needed to decide if I was going to hire or stop taking on clients.  He called me and said, “I’d like to work with you, so that you can continue sharing your talents with the world.” That day we spent over 90-minutes on the phone and over the course of last fall, winter, and this spring, we continued to chat about how he could work with the firm remotely as a part-time para-planner.  

I recently spoke with someone who told me “I have a good job, I have a budget, but I feel like I just can’t make it.” A report by CareerBuilder last summer stated that 78% of U.S workers live paycheck to paycheck and 10% of those struggling make over $100,000.  In our society of easy to obtain credit cards, outstanding student loan balances hitting $1.5 trillion, and often just a general lack of financial knowledge there are many people struggling to “make it.”

This makes me think of getting on a fast moving treadmill without the controls.  Once you are on the belt you have to keep moving and as long as you take steady steps, you will stay on upright.

“A great pleasure in life is doing what people say you cannot do.” – Walter Bagehot

It’s been a few weeks since our last Monday Morning Quarter-Buck!  We apologize for the brief hiatus but stay tuned for lots of content over the remainder of 2018.  The team has been hard at work getting ready to educate on a variety of topics!

I thought the quote this week was fitting because it has been three-years since I went “independent.”  I can’t believe it!  I remember being told I would fail, and believe me, there are times where I wondered if it were true.  However, all of you reading this blog have continued to be an inspiration to me.  I also have a bit of a “watch me” personality.  A characteristic that was challenging to my mother when I was a child, but has been the light at the end of the tunnel.  Additionally, I am so thankful that I have such a supportive, encouraging husband that pulled me up in my moments of self-doubt.

This morning I was running behind and realized, of course, my gas tank was dangerously close to empty. I quickly pulled into the gas station and pulled a little too close to an advertisement sign that was placed by the pump. I had to squeeze by the sign to access the pump so while I was filling my tank I was reading over the sign. In large letters was the promotion “5 cents off a gallon” and below a picture of their credit card.

That thought of that sign stayed with me. I love saving money so 5 cents off gas sounds great, but I also know that trying to save a few dollars can sometimes end up costing more in the long term. Are you one to approach promotions like that with caution or do you see a discount and want to sign right up?

Have you ever had a point in your life that you felt like you were in a “funk.”  You know, just a period of time where mentally, physically, and emotionally you have felt like you just can’t get your mojo flowing?  As I often do, I Googled the definition of “funk” and the two definitions I found were:

1. North America - A state of depression

2. British – Avoid (a task or thing) out of fear

I have heard that statement several times recently, perhaps because the winter was so long for my northern clients, or perhaps it is just that many have been hit by some pretty big issues recently.  I’ve experienced it a time or two (or twenty) myself, so after I heard it several times I tried to think of what caused it to happen and what got me out my “funk?”  

I’ve probably put more time and energy in this blog than any other blog I’ve written.   When I wrote the first draft I was steaming mad.  My fingers were slamming the key board so hard and fast my fingertips were actually warm.  If steam could come out of my ears, it would have been for sure!    This is a little on the “rant” side, but what I am about to share with you is not a story, it has actually happened, more than once.

Picture this, you are in the Teacher’s Lounge, lunch room of a hospital, or some other “community” room that has a table full of donuts a financial advisor brought in today.  They are there to talk to you about saving for retirement with a 403b account.  They are one of the “approved” vendors that have the privilege of meeting with you in this environment. 

“A hero is an ordinary individual who finds the strength to preserve and endure in spite of overwhelming obstacles.” – Christopher Reeve

As I was preparing for today’s blog, I came across the above quote.  No doubt, “Superman” was a hero to many of us, and not for the role he played in the movies, but for the role he played in life and the inspiration he gave to many.   In a million years, we would have never expected him to become disabled – he was Superman – how could that happen to him?  And if it could happen to him, then it’s likely it could happen to any of us.  It’s critical we talk about these issues.  No, it’s beyond critical.

“One reason, doubtless, why squirrels are so bold and reckless in leaping through the trees is that, if they miss their hold and fall, they sustain no injury.  Every species of tree-squirrel seems to be capable of a sort of rudimentary flying, at least of making itself into a parachute, so as to ease or break a fall or a leap from a great height.” – John Burroughs

Have you ever noticed how a squirrel seems to lack focus?  They get the job done, but they seem to take the long way around and they jolt back and forth from spot to spot.  I’ve also called this the “oh, did you see something shiny?” syndrome.   Have you ever felt that way yourself?  We live in such a distracting world it is often really hard to focus on one thing at a time. 

I’ve noticed recently the word “Fiduciary” has been tossed around in various contexts and statements, for example:

• I am a fiduciary
• It’s my fiduciary responsibility
• I acted as a fiduciary

A couple of times in the last few weeks I have heard these phrases and I was not completely sure the individuals stating actually knew what the word meant.  Sometimes it’s being used as a noun and sometimes as adjective. 

“If you are saving, you’re succeeding.” – Steve Burkholder

Last Friday we released Wine and Dime Episode 13 – The Six Letter “B” Word with the “Money Honey.” Nancy and I have worked together on projects for Cornell Cooperative Extension Steuben County for many years, and her commitment to educating the community is extraordinary.

In addition to the podcast, we hope you enjoy the following guest blog from Nancy on “Who’s Watching?”  For more information about the amazing programs being offered through Cornell Cooperative Extension Steuben County, and to help them celebrate their 100th anniversary, go to their website: www.putknowledgetowork.org

Last Friday I released my 12th Episode of Wine and Dime!  I look forward to all of my guests, but this one touched a place in my heart and soul because it was about financial education for our youth.  This is an area of great passion for me personally; I can’t wrap my head around why financial education isn’t a class that is required each year, just like math, science, etc.   Please take the time to listen to this episode and share it with friends and family – as a community let’s start a movement to make financial education just as important as the traditional education subjects, it is a skill we use for the rest of our lives!

“Happiness cannot be traveled to, owned, earned, worn or consumed. Happiness is the spiritual experience of living every minute with love, grace, and gratitude.”” – Denis Waitley

 Last Friday I appeared on a podcast called “So Money with Farnoosh Torabi,” (click here to listen).  One of the topics that came up was market volatility and it got me thinking about one of the top topics that clients are asking me right now.  As I glanced through the recent emails, I noticed the number of questions coming up about Bitcoin; what is it, am I buying any, and should it be purchased?  I hope the following information helps to educate you on this topic! 

Financial Independence

How do you know when you can stop working?

When future expenses are covered by passive income streams, a person is typically considered to be financially independent. In this situation you no longer need to work to support yourself.  This doesn’t necessarily mean that you will stop working, but it does mean that you can choose to do the kind of work that makes you happiest.

“Pain is temporary. It may last a minute, or an hour, or a day, or a year, but eventually it will subside and something else will take its place. If I quit, however, it lasts forever.” - Lance Armstrong

 I saw that quote recently in an article published by First Ascent Asset Management, one of the key sub-advisors we have formed a strong relationship with over the past year.  I thought it really was fitting on many fronts as I was sitting in my office in New York shivering, pondering how thankful I am that it is temporary because all of you allow me to live my dream of being warm for most of the winter. 

On Thursday we announced the addition of Katrina (AKA Kate) Welker to the team, which was followed by a special edition podcast release on Friday (click here to listen).  Now you get to hear from her via her first blog post!  We hope you enjoy this edition.