The last time I saw Ron and Cindy, they were both miserable. Both had been working long hours in jobs they could barely tolerate. Ron’s company had undergone a complete management overhaul. He was having difficulty adapting to his company's new culture and his ever increasing job demands. He had gained weight and was suffering from depression. Cindy, who was a special needs teacher, had just finished the most difficult year of her 32-year teaching career. After much soul searching and a little financial planning, they both decided to retire early at the age of 56. That was two years ago.
Here are their thoughts this past weekend on early retirement:
Ron looks fantastic; he has lost weight, is more relaxed and is happier in retirement than he has been in years. He spends his time reading, relaxing and puttering around the house. His current project is painting the outdoor shutters. He feels early retirement is the best thing he ever did.
Cindy is another story; she can't help but wonder if it's all been worth it. First, there was the process of finding a new job. After ending her teaching career, Cindy who is a very social person, decided she still wanted to work, but in a less stressful, part-time capacity. She found a job working as a cashier for the local pharmacy. She soon realized working with the public can be trying. Also, mastering the pharmacy’s cash register was not an easy task. Despite working fewer hours, she still finds herself working with difficult people and dealing with work-place politics, only now she makes less money and has no benefits. She thinks she may have been better off staying where she was at. “I knew that job like the back of my hand.” She has accepted a part-time teaching job at her old school for the summer.
Then there was the market turn-down last fall. Their portfolio lost 50% of its value. To continue to make ends meet, they had to adjust their budget by curtailing eating out and canceling all travel plans. They both acknowledge if they hadn’t retired before the downturn they would probably both still be working.
What is the moral of this story? I have dreamed of retiring early for years, actually since the late 90’s when my 401(k) was earning double digit returns. This fantasy usually includes a little part-time job, maybe in retail, just to get out of the house. After talking to Cindy, I realize work is just that – work. If I can’t afford to or don’t want to retire completely, I may be better off staying where I’m at until I can.
Savvy Working Gal
Monday, May 25, 2009
Sunday, May 17, 2009
A second mammogram required; questions answered
Pleased to have this task completed in less than 15 minutes after arrival; I was feeling pretty cheeky as I left the clinic this year after my annual mammogram. Unfortunately, I would receive a call later that day informing me additional images were needed. I would undergo a second mammogram and ultimately a biopsy. To my relief, I ended up having a benign breast calcification, not cancer. As I look back on this experience, which was pretty surreal, I realize I had quite a few questions throughout the process. I will now attempt to answer those questions with the intention of helping others in a similar situation.
How common is it to be called back for a second image?
About one in ten mammogram screenings result in a patient being called back for further testing. Most likely this call back is not due to a bad image, but because the radiologist saw something that looked suspicious and wants a better view. The second screening is a magnification or a compression view where they zone in on a specific area or an ultrasound that will give information like is it a solid area or just a more dense area of tissue or if it's a cyst.
What was seen on my second diagnostic image?
The radiologist saw a calcification on my left breast that had not been present on prior images.
What are breast calcifications?
They are deposits of calcium in some areas of the breast tissue that show up as white spots on a mammogram. They cannot be felt, and are only detected on a breast mammogram. They are very common and in most cases harmless.
There are two types:
Macro-calcifications are usually larger, fewer in number, widely dispersed, and round. They are harmless and need no treatment or monitoring.
Micro-calcifications are specks of calcium that may be found in an area of rapidly dividing cells. When many are seen in a cluster, they may indicate a small cancer. About half the cancers detected appear as these clusters.
What causes breast calcifications?
Calcium can be deposited in breast tissue for a variety of reasons, many of which are not related to cancer. Some benign causes of breast calcifications include inflammation from a breast infection, and injury or trauma to the breast. Calcium deposits may also be included in a benign breast cyst or a benign breast growth like a fibroadenoma. Taking calcium pills does not cause them. Also, there is no known link between calcium intake in diet and the formation of breast calcifications. Nor has a correlation been found between post-menopausal hormone replacement therapy and the development of breast calcifications. Calcifications in breast tissue occur most commonly as a natural process of aging. As we age, there is some degeneration of tissues and this can cause calcifications. Hence most women develop calcifications as they grow older. The cause which worries women the most is of course cancer. But cancer as a cause of breast calcification is quite uncommon compared to the high proportion of calcifications seen due to other causes. Cancer is suspected only in some specific patterns of calcification.
Why a biopsy?
The way these calcifications are positioned within the breast and their number and shape can provide the radiologist with an idea of whether these should be left alone or further examined for invasive or preinvasive disease.
My radiologist explained there are three possible determinations he makes based on the shape of the calcification:
1. A mass that is star-shaped or irregular is serious.
2. A round or smooth-edged mass is more likely to be a fluid-filled cyst and not serious.
3. Calcifications that are hard-to-tell he deems indeterminate. Of course, mine was indeterminate.
There are two approaches to dealing with indeterminate calcifications:
A wait and see approach ~ I would return in six months for a follow-up mammogram to see if the calcifications have changed - a sign that a cancer could be growing.
Perform a biopsy ~ This is the only way to be absolutely certain the calcification is benign. Whether or not to do a biopsy depends on the radiologist's level of suspicion. When suspicious micro-calcifications appear on a mammogram, but no lump is felt, a needle localization biopsy is recommended, so that breast tissue can be removed and examined under a microscope by a pathologist. Some radiologists recommend the aggressive approach when dealing with indeterminate calcifications, recommending a needle-localization biopsy to see whether malignancy is present.
Because the deposit had not been present on prior mammograms along with the indeterminate positioning of the calcifications my radiologist strongly recommended a biopsy.
What actually takes place during the biopsy which is called a stereotactic core needle biopsy?
The radiologist removes small slivers of tissue containing the “suspicious” calcifications through a thin, hollow needle. This procedure is done using a special table and computer guidance device. A stereotactic core needle biopsy requires only local anesthesia (the patient is awake and alert) and the tissue can be sent to the laboratory for analysis without surgery.
My biopsy went well; the radiologist was able to remove the entire mass of calcifications. Afterward, he indicated he would be surprised if the biopsy results did not come back benign. Also, he was pleased to have been able to remove the entire deposit.
What percentages of biopsies are benign?
Around 85%. Calcifications themselves are not cancer but may be present in the midst of a cancer. Clustered small calcifications alone are associated with about a 25 percent risk of cancer.
Final thoughts on the ordeal:
~I didn’t get rattled, but I was anxious. To help ease the anxiety, I rescheduled both appointments to earlier dates as cancelled appointments became available. If something was seriously wrong I wanted to know as soon as possible.
~ I asked as many questions as I could of family and friends who had undergone the same procedure to give myself some idea of what to expect.
~ My sister, who is a radiologic technologist, gave me the following advice which did wonders to reassure me everything was going to be fine even if the calcs were malignant:
Calcium deposits also called micro-calcifications can be a very early sign of a cancer called ductal carcinoma in situ. If this is the case, would be easily treatable since it is so early.
~ Now that the bills are coming in (this procedure cost close to $5,000, of which my insurance company will pay 90% after I meet my deductible), I can't help wonder if I should have gone with the wait-and-see approach. My sister strongly disagrees with this statement insisting I did the right thing following the radiologist's recommendation.
~ You can’t take aspirin seven days prior to the biopsy and for three days following, but you can take Tylenol. I wasn't informed of the Tylenol option until after I developed an incredible migraine and pleaded with my breast care coordinator to allow me to take some type of pain reliever.
~What do you wear to a biopsy?
As I prepared for my biopsy, I couldn’t help think what does one wear to a biopsy; do you go for style or cheering up? I ended up going with worn and comfortable. I thought this was kind of weird thing to think about until I read in his book Chasing Daylight;
Eugene O’Kelly wore golf clothes to his radiation appointments to get in a good mood as if he were going to play a round.
~During the procedure, the breast care coordinator stood next to me talking me through the procedure. I appreciated this diversion.
~The biopsy itself hurt. My back and neck got stiff. Also, the recovery wasn’t pleasant for the first couple of days. I had to ice the area every four hours and could lift nothing heavier than a jug of milk. Even moderate activity produced bleeding. Plus, I am still black and blue and the procedure was three weeks ago.
~Despite all of the favorable assurances I received, it was an incredible relief to know for sure it wasn't cancer.
~ And lastly, if you need to let a patient know their lab results are going to take longer than anticipated do not start the conversation with: “I HAVE BAD NEWS.”
How common is it to be called back for a second image?
About one in ten mammogram screenings result in a patient being called back for further testing. Most likely this call back is not due to a bad image, but because the radiologist saw something that looked suspicious and wants a better view. The second screening is a magnification or a compression view where they zone in on a specific area or an ultrasound that will give information like is it a solid area or just a more dense area of tissue or if it's a cyst.
What was seen on my second diagnostic image?
The radiologist saw a calcification on my left breast that had not been present on prior images.
What are breast calcifications?
They are deposits of calcium in some areas of the breast tissue that show up as white spots on a mammogram. They cannot be felt, and are only detected on a breast mammogram. They are very common and in most cases harmless.
There are two types:
Macro-calcifications are usually larger, fewer in number, widely dispersed, and round. They are harmless and need no treatment or monitoring.
Micro-calcifications are specks of calcium that may be found in an area of rapidly dividing cells. When many are seen in a cluster, they may indicate a small cancer. About half the cancers detected appear as these clusters.
What causes breast calcifications?
Calcium can be deposited in breast tissue for a variety of reasons, many of which are not related to cancer. Some benign causes of breast calcifications include inflammation from a breast infection, and injury or trauma to the breast. Calcium deposits may also be included in a benign breast cyst or a benign breast growth like a fibroadenoma. Taking calcium pills does not cause them. Also, there is no known link between calcium intake in diet and the formation of breast calcifications. Nor has a correlation been found between post-menopausal hormone replacement therapy and the development of breast calcifications. Calcifications in breast tissue occur most commonly as a natural process of aging. As we age, there is some degeneration of tissues and this can cause calcifications. Hence most women develop calcifications as they grow older. The cause which worries women the most is of course cancer. But cancer as a cause of breast calcification is quite uncommon compared to the high proportion of calcifications seen due to other causes. Cancer is suspected only in some specific patterns of calcification.
Why a biopsy?
The way these calcifications are positioned within the breast and their number and shape can provide the radiologist with an idea of whether these should be left alone or further examined for invasive or preinvasive disease.
My radiologist explained there are three possible determinations he makes based on the shape of the calcification:
1. A mass that is star-shaped or irregular is serious.
2. A round or smooth-edged mass is more likely to be a fluid-filled cyst and not serious.
3. Calcifications that are hard-to-tell he deems indeterminate. Of course, mine was indeterminate.
There are two approaches to dealing with indeterminate calcifications:
A wait and see approach ~ I would return in six months for a follow-up mammogram to see if the calcifications have changed - a sign that a cancer could be growing.
Perform a biopsy ~ This is the only way to be absolutely certain the calcification is benign. Whether or not to do a biopsy depends on the radiologist's level of suspicion. When suspicious micro-calcifications appear on a mammogram, but no lump is felt, a needle localization biopsy is recommended, so that breast tissue can be removed and examined under a microscope by a pathologist. Some radiologists recommend the aggressive approach when dealing with indeterminate calcifications, recommending a needle-localization biopsy to see whether malignancy is present.
Because the deposit had not been present on prior mammograms along with the indeterminate positioning of the calcifications my radiologist strongly recommended a biopsy.
What actually takes place during the biopsy which is called a stereotactic core needle biopsy?
The radiologist removes small slivers of tissue containing the “suspicious” calcifications through a thin, hollow needle. This procedure is done using a special table and computer guidance device. A stereotactic core needle biopsy requires only local anesthesia (the patient is awake and alert) and the tissue can be sent to the laboratory for analysis without surgery.
My biopsy went well; the radiologist was able to remove the entire mass of calcifications. Afterward, he indicated he would be surprised if the biopsy results did not come back benign. Also, he was pleased to have been able to remove the entire deposit.
What percentages of biopsies are benign?
Around 85%. Calcifications themselves are not cancer but may be present in the midst of a cancer. Clustered small calcifications alone are associated with about a 25 percent risk of cancer.
Final thoughts on the ordeal:
~I didn’t get rattled, but I was anxious. To help ease the anxiety, I rescheduled both appointments to earlier dates as cancelled appointments became available. If something was seriously wrong I wanted to know as soon as possible.
~ I asked as many questions as I could of family and friends who had undergone the same procedure to give myself some idea of what to expect.
~ My sister, who is a radiologic technologist, gave me the following advice which did wonders to reassure me everything was going to be fine even if the calcs were malignant:
Calcium deposits also called micro-calcifications can be a very early sign of a cancer called ductal carcinoma in situ. If this is the case, would be easily treatable since it is so early.
~ Now that the bills are coming in (this procedure cost close to $5,000, of which my insurance company will pay 90% after I meet my deductible), I can't help wonder if I should have gone with the wait-and-see approach. My sister strongly disagrees with this statement insisting I did the right thing following the radiologist's recommendation.
~ You can’t take aspirin seven days prior to the biopsy and for three days following, but you can take Tylenol. I wasn't informed of the Tylenol option until after I developed an incredible migraine and pleaded with my breast care coordinator to allow me to take some type of pain reliever.
~What do you wear to a biopsy?
As I prepared for my biopsy, I couldn’t help think what does one wear to a biopsy; do you go for style or cheering up? I ended up going with worn and comfortable. I thought this was kind of weird thing to think about until I read in his book Chasing Daylight;
Eugene O’Kelly wore golf clothes to his radiation appointments to get in a good mood as if he were going to play a round.~During the procedure, the breast care coordinator stood next to me talking me through the procedure. I appreciated this diversion.
~The biopsy itself hurt. My back and neck got stiff. Also, the recovery wasn’t pleasant for the first couple of days. I had to ice the area every four hours and could lift nothing heavier than a jug of milk. Even moderate activity produced bleeding. Plus, I am still black and blue and the procedure was three weeks ago.
~Despite all of the favorable assurances I received, it was an incredible relief to know for sure it wasn't cancer.
~ And lastly, if you need to let a patient know their lab results are going to take longer than anticipated do not start the conversation with: “I HAVE BAD NEWS.”
Sunday, April 26, 2009
You need your customers more than they need you
While vacationing in St. John, my husband and I had the pleasure of meeting Richard Meyer, the proprietor for "The Lime Inn". We discussed the economy and inquired how the recession had affected his restaurant. Without hesitation he replied, “Business has been slow.”
Vacationers are traveling to St John, especially now that it is spring, but they are spending all of their time at the beach. Retail sales, restaurant activity and chartered excursions are suffering. I understood spending your entire vacation at the beach, but couldn’t comprehend why tourists were not eating at the restaurants. Groceries on the island are quite expensive (about double what I pay in Milwaukee); since food is expensive anyway, why go to all the extra trouble of shopping, cooking and cleaning up?
Upon further investigation, we discovered travelers are not buying food on the island; they are bringing it with them. They pack steaks, chicken, and sandwich fixings all in an ice chest then check it as one of their checked bags.
A couple of days later, we visited Richard's restaurant, The Lime Inn, which surprisingly was filled to capacity. The group ahead of us was told there would be an hour wait ‘til they could be seated. They left. Richard spotted us, apologized for the lack of tables then offered to have us sit at the server bar or the customer bar saying, "I need you more than you need me." We choose the server bar. This ended up being one of our favorite vacation experiences. Katy, the bartender, not only served us our food, but acted as a quasi tour guide recommending vacation hotspots and giving us insight into what it’s like living in St. John. Plus, the food was excellent. I highly recommend the Shay’s seafood sausage appetizer.
With discount chains such as Wal-Mart, Costco, and McDonalds pushing out businesses in every major city and small town, it is important in a down economy to distinguish your business through customer service. Take note of Richard’s sage observation "I need your more than they need me.”
Vacationers are traveling to St John, especially now that it is spring, but they are spending all of their time at the beach. Retail sales, restaurant activity and chartered excursions are suffering. I understood spending your entire vacation at the beach, but couldn’t comprehend why tourists were not eating at the restaurants. Groceries on the island are quite expensive (about double what I pay in Milwaukee); since food is expensive anyway, why go to all the extra trouble of shopping, cooking and cleaning up?
Upon further investigation, we discovered travelers are not buying food on the island; they are bringing it with them. They pack steaks, chicken, and sandwich fixings all in an ice chest then check it as one of their checked bags.
A couple of days later, we visited Richard's restaurant, The Lime Inn, which surprisingly was filled to capacity. The group ahead of us was told there would be an hour wait ‘til they could be seated. They left. Richard spotted us, apologized for the lack of tables then offered to have us sit at the server bar or the customer bar saying, "I need you more than you need me." We choose the server bar. This ended up being one of our favorite vacation experiences. Katy, the bartender, not only served us our food, but acted as a quasi tour guide recommending vacation hotspots and giving us insight into what it’s like living in St. John. Plus, the food was excellent. I highly recommend the Shay’s seafood sausage appetizer.
With discount chains such as Wal-Mart, Costco, and McDonalds pushing out businesses in every major city and small town, it is important in a down economy to distinguish your business through customer service. Take note of Richard’s sage observation "I need your more than they need me.”
Saturday, April 18, 2009
"How to rob a bank"
Willie Porter has the banking crisis figured out. Click Here. Go to media player. Listen to song 01.
Enough said.
Wednesday, April 15, 2009
Tips on maintaining a stress free life
Since returning from vacation, I’ve been contemplating what I can do to minimize the stress in my life on a day-to-day basis. I came up with the following list of items I currently try to employ:
1. Get enough sleep; I need at least 7 hours of solid sleep to feel rested, not edgy the next day
2. Live below my means; I sleep better when I’m not worried about paying the bills
3. Exercise – I try to workout at least 3 times a week; exercise helps me sleep better
4. Spend at least a half hour each night unwinding with a good book (even DH has noticed I get cranky when I don’t have a good book to read)
5. Take a sick day when I’m sick – I’m not very good at this one
6. Cut back on caffeine; drink more water – I used to drink coffee in the morning, soda in the afternoon. Now I skip the soda and drink water, I’ve noticed I’m not nearly as jittery
7. Cook on the weekends – eat the leftovers during the week. I rarely take the time to cook during the week; if I don’t have something already made I usually end up eating junk food.
8. Keep a couple of safety pins in my purse in case of a wardrobe malfunction
9. Don’t drink coffee while driving unless I want to wear the coffee all day
10. To minimize scheduling conflicts use only one calendar
11. If a home repair job is out of my or DH’s area of expertise (plumbing comes to mind) hire a professional
12. Think thru an invitation before saying yes; especially events that occur during the work day; for me it’s stressful getting out of work on time, finding the event (directions are not my forte), and searching for a parking spot
13. I stopped using computerized photo software and bought a photo reader
14. Use mapquest; if going to a job interview, drive by the interview site the night before
15. Admit mistakes right away; I heard this one at a seminar years ago. I have since found it is much better to admit a mistake right away rather than worrying about it for days. I’ve also found many times what I think is a huge deal is either not the big deal I thought it was or is something that can easily be fixed.
I also came up with three things I could or should do in the future:
1. Take a computer trouble shooting class. Nothing gets my blood boiling faster, that when something goes wrong with my computer.
2. Cut back on sugar
3. Buy a GPS system (I really am terrible with directions)
What are your tips for maintaining a stress free life?
1. Get enough sleep; I need at least 7 hours of solid sleep to feel rested, not edgy the next day
2. Live below my means; I sleep better when I’m not worried about paying the bills
3. Exercise – I try to workout at least 3 times a week; exercise helps me sleep better
4. Spend at least a half hour each night unwinding with a good book (even DH has noticed I get cranky when I don’t have a good book to read)
5. Take a sick day when I’m sick – I’m not very good at this one
6. Cut back on caffeine; drink more water – I used to drink coffee in the morning, soda in the afternoon. Now I skip the soda and drink water, I’ve noticed I’m not nearly as jittery
7. Cook on the weekends – eat the leftovers during the week. I rarely take the time to cook during the week; if I don’t have something already made I usually end up eating junk food.
8. Keep a couple of safety pins in my purse in case of a wardrobe malfunction
9. Don’t drink coffee while driving unless I want to wear the coffee all day
10. To minimize scheduling conflicts use only one calendar
11. If a home repair job is out of my or DH’s area of expertise (plumbing comes to mind) hire a professional
12. Think thru an invitation before saying yes; especially events that occur during the work day; for me it’s stressful getting out of work on time, finding the event (directions are not my forte), and searching for a parking spot
13. I stopped using computerized photo software and bought a photo reader
14. Use mapquest; if going to a job interview, drive by the interview site the night before
15. Admit mistakes right away; I heard this one at a seminar years ago. I have since found it is much better to admit a mistake right away rather than worrying about it for days. I’ve also found many times what I think is a huge deal is either not the big deal I thought it was or is something that can easily be fixed.
I also came up with three things I could or should do in the future:
1. Take a computer trouble shooting class. Nothing gets my blood boiling faster, that when something goes wrong with my computer.
2. Cut back on sugar
3. Buy a GPS system (I really am terrible with directions)
What are your tips for maintaining a stress free life?
Sunday, April 12, 2009
A one word explanation
DH posed the following question to our financial planner?
If you could explain what has happened to the economic and financial markets over the past 6 months in one word, what would that word be?
His answer:
Main Entry: recalibrate
Part of Speech: v
Definition: to correct a measuring process by checking or adjusting again in comparison with a standard
Example: The archaeologist recalibrated radiocarbon dates to adjust them to calendar years, using results gained from dendrochronology
Note: He did not choose the word "crisis", even though what occurred is, or at least was, a crisis. He feels the media overuse the word; calling everything a crisis, so he avoids using it.
If you could explain what has happened to the economic and financial markets over the past 6 months in one word, what would that word be?
His answer:
Recalibration
Definition from Dictionary.com:
Main Entry: recalibrate
Part of Speech: v
Definition: to correct a measuring process by checking or adjusting again in comparison with a standard
Example: The archaeologist recalibrated radiocarbon dates to adjust them to calendar years, using results gained from dendrochronology
Note: He did not choose the word "crisis", even though what occurred is, or at least was, a crisis. He feels the media overuse the word; calling everything a crisis, so he avoids using it.
Sunday, April 05, 2009
The Stress-Free Zone
Last week, while vacationing on the Caribbean island of St. John, I experienced what may have been the most relaxing day of my life; I guess you could say I was in a stress-free zone. What factors contributed to this state of bliss?
- The mental clarity achieved hiking to the beach
- The meditating lull of the sea
- The beauty of the blue sky
- Nothing more taxing to do than watch the palms of the palm trees sway in the wind
- The poetry of the novel I was reading; The Blind Assassin
which is Margaret Atwood at her best- The ability to finally shut off the nagging voice that’s constantly reminding me of all the things I need to do
As my vacation came to a close, I couldn’t help but contemplate why it took ‘til day five of my vacation to achieve this stress-free zone. Here are a few things I could have done differently to help my vacation get off on a stress free note:
- Don’t over-promise. We were scheduled to spend our first night of travel in Chicago. I had promised my husband I'd leave work early, so we could get an early start, knowing my boss always keeps me ‘til the last possible minute the day before I leave for vacation. Sure enough, I was given a last minute project that kept me working much later than anticipated. This set the tone for an impatient husband, a hurried exit and several forgotten last minute items.
- Don't multi-task. The night before our vacation, I packed my bags while talking on the phone. Can you see what's coming – yes, more forgotten items. I recently read that multitasking never works. I think this is a true statement; at least it never seems to work for me.
- Take advantage of technology. Before leaving, I had decided not to add cell phone coverage for the Virgin Islands to my cell phone plan; I was unhappy with the projected extra fees and roaming charges. This was a mistake. Pay phones don't really exist anymore and if they do they are in disrepair. This caused all sorts of complications with our car rental company, our villa caretaker and our airline. We returned home to find messages from all parties on our home phone providing valuable information about flight changes and meeting arrangements. I'm sure the parties above assumed they were leaving messages on our cell phone. Also, it would have been easier to book excursions and make restaurant reservations with a cell phone rather than having to rush back to our villa for confirmation messages.
- Simplify your routine. After a full day of travel, arrange for an easy meal the night of arrival; either eat in or go to a restaurant within walking distance. Also, on what was the most relaxing day of my life we had planned a late afternoon hike, but not wanting to leave the beach decided to forego it. We had finally learned if we wanted to truly relax we had to simplify our routine.
- Be more organized. Make a list of items that need to be packed and then actually use the list. Once home, add any forgotten or neglected items to the list. Save the list to use when packing for the next vacation.
- Vacation at a familiar destination. I never used to understand why someone would want to vacation at the same place every year. Now I get it. It took us two full days to become acclimated with St. John. If you are truly looking for relaxation, familiarity is a key factor. Also, we discovered many ways we could cut costs if we were to return to St. John. If you travel to the same destination each year, you are more likely to pack the right items and are less likely to encounter unforeseen surprises.
Saturday, April 04, 2009
Privacy Policy
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These third-party ad servers or ad networks use technology to the advertisements and links that appear on http://savvyworkinggal.blogspot.com send directly to your browsers. They automatically receive your IP address when this occurs. Other technologies ( such as cookies, JavaScript, or Web Beacons ) may also be used by the third-party ad networks to measure the effectiveness of their advertisements and / or to personalize the advertising content that you see.
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.:: Google, as a third party vendor, uses cookies to serve ads on your site.
.:: Google's use of the DART cookie enables it to serve ads to your users based on their visit to your sites and other sites on the Internet.
.:: Users may opt out of the use of the DART cookie by visiting the Google ad and content network privacy policy at the following URL - http://www.google.com/privacy_ads.html
Some of our advertising partners may use cookies and web beacons on our site. Our advertising partners include ....
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Like many other Websites, http://savvyworkinggal.blogspot.com makes use of log files. The information inside the log files includes internet protocol ( IP ) addresses, type of browser, Internet Service Provider ( ISP ), date/time stamp, referring/exit pages, and number of clicks to analyze trends, administer the site, track user’s movement around the site, and gather demographic information. IP addresses, and other such information are not linked to any information that is personally identifiable.
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http://savvyworkinggal.blogspot.com does use cookies to store information about visitors preferences, record user-specific information on which pages the user access or visit, customize Web page content based on visitors browser type or other information that the visitor sends via their browser.
These third-party ad servers or ad networks use technology to the advertisements and links that appear on http://savvyworkinggal.blogspot.com send directly to your browsers. They automatically receive your IP address when this occurs. Other technologies ( such as cookies, JavaScript, or Web Beacons ) may also be used by the third-party ad networks to measure the effectiveness of their advertisements and / or to personalize the advertising content that you see.
If you require any more information or have any questions about our privacy policy, please feel free to contact us by email at sr8923@aol.com.
Tuesday, March 31, 2009
Blog Browsing
Last week, I was out of town on a much needed vacation and have not yet gotten back to my usual routine, in the meantime I'd like to spotlight a couple of blogs I enjoy browsing:
Journey Mama - Rae is a mama who is definitely on a journey. She recently moved from northern California to India with her family; her superstar husband and their four children ranging in ages from not yet one to six years old. She is a beautiful writer who posts honestly about her life. Plus, she includes amazing photos of her friends and family and an occasional video or two.
Two Kitties - This is the sort of blog I envisioned creating when I started my first blog, A Little Bit of Culture, but soon felt I wasn’t up to the task. Heidi, who is an artist, is much more qualified. Her blog's eclectic posts are guaranteed to fulfill your daily culture fix.
Retired Syd- I became fascinated with this blog after realizing how much Sydney and I have in common; both of us work/worked as accountants, neither of us are/were totally enamored with this profession (I think this has to do with the long hours and the stress), both of us are in our forties, and both of us blog as a hobby. I have always dreamed of retiring early, Sydney actually did (a year ago at age 44). Reading Sydney's blog gives me a glimpse into what life would be like in early retirement. I can dream can’t I!!!
Journey Mama - Rae is a mama who is definitely on a journey. She recently moved from northern California to India with her family; her superstar husband and their four children ranging in ages from not yet one to six years old. She is a beautiful writer who posts honestly about her life. Plus, she includes amazing photos of her friends and family and an occasional video or two.
Two Kitties - This is the sort of blog I envisioned creating when I started my first blog, A Little Bit of Culture, but soon felt I wasn’t up to the task. Heidi, who is an artist, is much more qualified. Her blog's eclectic posts are guaranteed to fulfill your daily culture fix.
Retired Syd- I became fascinated with this blog after realizing how much Sydney and I have in common; both of us work/worked as accountants, neither of us are/were totally enamored with this profession (I think this has to do with the long hours and the stress), both of us are in our forties, and both of us blog as a hobby. I have always dreamed of retiring early, Sydney actually did (a year ago at age 44). Reading Sydney's blog gives me a glimpse into what life would be like in early retirement. I can dream can’t I!!!
Sunday, March 15, 2009
Does Happiness have a Set Point?
Recently on Gretchen Rubin's blog, "The Happiness Project", Gretchen interviewed the ever brazen Penelope Trunk about happiness. Penelope, in her words, is "pissy" about happiness research. She doesn’t think the discussion “Am I Happy” is productive or that there is a lot of happiness in life only a lot of hopefulness. Her happiness level in life doesn’t particularly change depending on where she is in life. She has a sort of setpoint. She veers from it in the same way she veers from her regular weight the day after Thanksgiving -- She always goes back to that setpoint.
In a later post, Gretchen attempts to debunk the myth Nothing Changes a Person's Happiness Level Much. Gretchen writes:
Major life events can have strong, lasting effects on people’s happiness. For example, although people adapt quickly to marriage, it takes much longer for widows to adapt to widowhood. Losing a job, getting divorced—these kinds of events make a significant lasting impact on happiness. Adaptation varies considerably among people. Some get over changes quickly, while others take much longer to adapt, if they ever do.
This is the way I’ve come to think about this question: People are born with a natural range of temperament, but circumstances, actions, and thoughts can push people up to the top of their range or down to the bottom of their range.
I find myself agreeing so completely with Alex Lickerman at Happiness in this world's comment; I am including it in its entirety:
I've found the level of happiness I enjoy seems to fluctuate from moment-to-moment depending on how resistant I am to the vagaries of external forces pressing on my life-condition. When good things happen I tend to feel good for a while and when bad things happen I tend to feel bad for a while. But I've become convinced that if we work to increase our capacity to experience happiness, like exercising a muscle it will grow stronger, and the set point around which our happiness fluctuates will inevitably rise. But it really does seem to require diligent, consistent effort and the pursuit of a path that actually works. It also seems to me there are far more bad ways to pursue happiness than good ways.
Summary:
I am not sure if happiness has a set point, but I do know when events in my life take a turn for the worst, I’ve learned the “process of pushing myself” out of my comfort zone to search out what makes me happier always seems to help; this is the same process I’m using in my current project "Getting My Ducks in a Row". Another technique I’ve employed with success is writing entries in my gratitude journal.
Also, I don't place much credence on personal assessments such as the Authentic Happiness Inventory Questionnaire. This questionnaire requires you to answer questions by picking one statement in each group that best describes the way you have been feeling. I think these types of questionnaires are easily skewed based on how you subconsciously feel the outcome should be.
If you'd like to read more on the subject of happiness; my favorite book on the subject is Tal Ben-Shahar's Happier: Learn the Secrets to Daily Joy and Lasting Fulfillment.
In a later post, Gretchen attempts to debunk the myth Nothing Changes a Person's Happiness Level Much. Gretchen writes:
Major life events can have strong, lasting effects on people’s happiness. For example, although people adapt quickly to marriage, it takes much longer for widows to adapt to widowhood. Losing a job, getting divorced—these kinds of events make a significant lasting impact on happiness. Adaptation varies considerably among people. Some get over changes quickly, while others take much longer to adapt, if they ever do.
This is the way I’ve come to think about this question: People are born with a natural range of temperament, but circumstances, actions, and thoughts can push people up to the top of their range or down to the bottom of their range.
I find myself agreeing so completely with Alex Lickerman at Happiness in this world's comment; I am including it in its entirety:
I've found the level of happiness I enjoy seems to fluctuate from moment-to-moment depending on how resistant I am to the vagaries of external forces pressing on my life-condition. When good things happen I tend to feel good for a while and when bad things happen I tend to feel bad for a while. But I've become convinced that if we work to increase our capacity to experience happiness, like exercising a muscle it will grow stronger, and the set point around which our happiness fluctuates will inevitably rise. But it really does seem to require diligent, consistent effort and the pursuit of a path that actually works. It also seems to me there are far more bad ways to pursue happiness than good ways.
Summary:
I am not sure if happiness has a set point, but I do know when events in my life take a turn for the worst, I’ve learned the “process of pushing myself” out of my comfort zone to search out what makes me happier always seems to help; this is the same process I’m using in my current project "Getting My Ducks in a Row". Another technique I’ve employed with success is writing entries in my gratitude journal.
Also, I don't place much credence on personal assessments such as the Authentic Happiness Inventory Questionnaire. This questionnaire requires you to answer questions by picking one statement in each group that best describes the way you have been feeling. I think these types of questionnaires are easily skewed based on how you subconsciously feel the outcome should be.
If you'd like to read more on the subject of happiness; my favorite book on the subject is Tal Ben-Shahar's Happier: Learn the Secrets to Daily Joy and Lasting Fulfillment.
Saturday, March 07, 2009
Passion at Work
Unlike my brother, who has known since junior high school he wanted to be an architect; I never had a clear plan as to what I wanted to do when I grew up. I am now 46 and I still don’t know. I love asking recent high school grads what their career plans are. This is not because I am nosy, I’m looking for ideas.Then there is my DH who never had a passion for a particular career, but knew himself well enough to make career decisions based on his proficiencies. By knowing his strengths and limitations, he knew when to take the promotion and when to say no thanks; I’ll stay where I’m at. I believe this has resulted in him being happier with his work in the long run.
As part of "Getting my Ducks in a Row," I read Lawler Kang’s Passion at Work: How to Find Work You Love and Live the Time of Your Life.
It was recommended by a friend who found the exercises helpful in sorting out her own career issues. In the past, I’ve been skeptical of authors who claimed their book would help you discover things such as your work passion, but at this point in my life I what do I have to lose.The book is divided into 5 P’s:
Passion – What do you want your tombstone to say?
Proficiencies- What can the whole and impassioned you be the best at.
Priorities – Matrix this.
The Plan
Prove – How do you fund your plan?
I read most of the book and made it through step three on the exercises (I was unable to complete step 4- the plan, since I didn't come up with a passion). Despite not discovering my life passion, I did learn some useful insights about myself from the exercises. In comparing the results from step one and step two, I was able to see clear patterns. I enjoy challenging projects; going back to school, becoming a CPA, analyzing financial data, even writing this blog. Perhaps, that is what I need, another challenging project. Something I am solely responsible for.
In reading this book, I may not have discovered my life passion, but I did come away with a better understanding of myself. I rate the book 3.5/5.
Saturday, February 28, 2009
My career as a Tax Accountant and Weekend Assignment #256
Since I am one of the members of the ABA (Association of Blogging Accountants) which Florinda recently made up, I decided to participate in Karen’s weekend assignment #256.
Weekend Assignment #256:
Tax time for individuals in this country starts in late January when the tax forms arrive, and runs through April 15th or so when the tax return is due. Do you file your taxes as soon as possible, at the last minute, or somewhere in between? Is there a particular reason for this?
Before I start I am going to give a little background on my career as a tax accountant.
Corporate Tax Accountant –
In the early 90’s, I worked full-time as an accountant for a small engineering firm while taking accounting courses at the local university in the evenings. The semester I was enrolled in Corporate Income Tax my boss came up with the brilliant idea he could recoup his investment in my education (he was paying half my tuition) if I prepared our company’s corporate income tax return; thus saving the company money on accounting fees. Our outside accounting firm would still review and sign the return. The first year, I propped up my accounting text book next to my computer to use as a reference and created the schedules for the return in excel. It was a lot of work and even though I felt like a fish out of water, the schedules balanced and life was good. The second year, I again prepared the schedules in this manner and again felt I was unqualified to do so, but it went okay. The third year, which was an incredibly stressful time in my life; I was taking the Becker CPA review course in preparation for the exam, I was unable to get those darned schedules to balance. Finally one of the accountants from the accounting firm in attempt to help my out me said, “You know Savvy, why don’t you just let us finish them, we enter the data from your financials into our tax prep software anyway and the returns including the schedules are completed in about 15 minutes.” I couldn’t believe it; after all that work they didn't need or even use my schedules; they were just placating my boss. After this experience, I vowed to never again work with corporate income tax.
Personal Income Tax Accountant -
After I passed the CPA exam, a family member asked if I’d prepare their income tax returns. Because of my inexperience (the only returns I had ever prepared other than in the classroom were my own); I decided to help them out for a nominal fee. I used TurboTax;
the return was simple and went well. The second year, I went with TaxCut
because it was cheaper. From the get go this return didn’t go well. First, it was more complicated; they had purchased mutual funds in their kids names which had incurred huge capital gains that year plus one of them had worked as a consultant on the side (of course they didn't track their mileage or save their business expense receipts). The extra income disallowed credits they were used to receiving, in an attempt to minimize their taxes I played around with separate returns for their kids and ended up losing half their data in TaxCut and had to reenter it. Then while printing the returns my old ink jet printer which literally printed the forms all afternoon ran out of ink. Concluding, I was upside down in both time and money on this return I advised the couple to consult a professional tax preparer in the future thus ending my career as a personal income tax accountant.
My current exposure to personal income tax-
In my current position, working as a Finance Manager in industry; the only exposure I have to income tax is the "Income Tax Update" I take each year as part of my continuing education. This doesn't stop me from being asked personal income tax questions on a regular basis. I used to attempt to look up answers to these questions, but now my standard line is I don’t work with tax, I work in private industry. If I can answer their question I do so, but usually I cannot.
Now for the assignment:
When do you file your return?
I work a lot of hours each year in January and early February; afterwards I give myself a couple of weeks to regroup before filing our taxes. This year I filed both our Federal and State returns yesterday. We are getting a small refund back on both, which is typical.
Who actually does your taxes, and with what software or other resources, if any?
I always prepare our taxes and do so manually. As I mentioned above, I have experience with both TurboTax and TaxCut, for me it is just easier and cheaper to file manually. It took me an hour and twenty minutes to complete both returns. I did use the amt calculator on the irs.gov web site to make sure I didn’t owe AMT. Wisconsin is offering free electronic tax filing this year, but I didn't take advantage of it. Adobe Reader 9.0 was required which I don't have. Also, I needed to include my federal income tax return in an electronic format which I also didn’t have. They do offer a couple of options for submitting the form electronically, but I decided to keep it simple and just file manually.
Weekend Assignment #256:
Tax time for individuals in this country starts in late January when the tax forms arrive, and runs through April 15th or so when the tax return is due. Do you file your taxes as soon as possible, at the last minute, or somewhere in between? Is there a particular reason for this?
Before I start I am going to give a little background on my career as a tax accountant.
Corporate Tax Accountant –
In the early 90’s, I worked full-time as an accountant for a small engineering firm while taking accounting courses at the local university in the evenings. The semester I was enrolled in Corporate Income Tax my boss came up with the brilliant idea he could recoup his investment in my education (he was paying half my tuition) if I prepared our company’s corporate income tax return; thus saving the company money on accounting fees. Our outside accounting firm would still review and sign the return. The first year, I propped up my accounting text book next to my computer to use as a reference and created the schedules for the return in excel. It was a lot of work and even though I felt like a fish out of water, the schedules balanced and life was good. The second year, I again prepared the schedules in this manner and again felt I was unqualified to do so, but it went okay. The third year, which was an incredibly stressful time in my life; I was taking the Becker CPA review course in preparation for the exam, I was unable to get those darned schedules to balance. Finally one of the accountants from the accounting firm in attempt to help my out me said, “You know Savvy, why don’t you just let us finish them, we enter the data from your financials into our tax prep software anyway and the returns including the schedules are completed in about 15 minutes.” I couldn’t believe it; after all that work they didn't need or even use my schedules; they were just placating my boss. After this experience, I vowed to never again work with corporate income tax.
Personal Income Tax Accountant -
After I passed the CPA exam, a family member asked if I’d prepare their income tax returns. Because of my inexperience (the only returns I had ever prepared other than in the classroom were my own); I decided to help them out for a nominal fee. I used TurboTax;
the return was simple and went well. The second year, I went with TaxCutbecause it was cheaper. From the get go this return didn’t go well. First, it was more complicated; they had purchased mutual funds in their kids names which had incurred huge capital gains that year plus one of them had worked as a consultant on the side (of course they didn't track their mileage or save their business expense receipts). The extra income disallowed credits they were used to receiving, in an attempt to minimize their taxes I played around with separate returns for their kids and ended up losing half their data in TaxCut and had to reenter it. Then while printing the returns my old ink jet printer which literally printed the forms all afternoon ran out of ink. Concluding, I was upside down in both time and money on this return I advised the couple to consult a professional tax preparer in the future thus ending my career as a personal income tax accountant.My current exposure to personal income tax-
In my current position, working as a Finance Manager in industry; the only exposure I have to income tax is the "Income Tax Update" I take each year as part of my continuing education. This doesn't stop me from being asked personal income tax questions on a regular basis. I used to attempt to look up answers to these questions, but now my standard line is I don’t work with tax, I work in private industry. If I can answer their question I do so, but usually I cannot.
Now for the assignment:
When do you file your return?
I work a lot of hours each year in January and early February; afterwards I give myself a couple of weeks to regroup before filing our taxes. This year I filed both our Federal and State returns yesterday. We are getting a small refund back on both, which is typical.
Who actually does your taxes, and with what software or other resources, if any?
I always prepare our taxes and do so manually. As I mentioned above, I have experience with both TurboTax and TaxCut, for me it is just easier and cheaper to file manually. It took me an hour and twenty minutes to complete both returns. I did use the amt calculator on the irs.gov web site to make sure I didn’t owe AMT. Wisconsin is offering free electronic tax filing this year, but I didn't take advantage of it. Adobe Reader 9.0 was required which I don't have. Also, I needed to include my federal income tax return in an electronic format which I also didn’t have. They do offer a couple of options for submitting the form electronically, but I decided to keep it simple and just file manually.
Sunday, February 22, 2009
Getting my Ducks in a Row
Ever since I heard Jane Pauley's presentation on “Practical Inspiration”, I can’t stop thinking I need to “Get my ducks in a Row” or at least break out of my comfort zone.
In the January 2009 issue of Oprah Magazine, Dr. Phil states the term comfort zone is used inaccurately. He says:
A comfort zone is actually a stagnation zone. You’re stuck because you’re afraid to take a risk. People often tell me the scariest risk is admitting that what they have isn’t what they want. They’re afraid to acknowledge that it’s time for a change because they’re scared to death about making it happen. Quit pretending what you have is okay if that’s not the case.
So here is the new plan for the rest of 2009 – I am going to do one thing each week to push myself out of my stagnation zone with the intent of “Getting my Ducks in a Row”.
Here are a few examples of what I will be working on:
1. I have to actually network when I attend networking events. Last week, I went to an event in which a speaker was presenting a topic I was interested in. I arrived late, sat at the student table in the back of the room, and left immediately after the presentation. I didn’t talk to a single member of the organization. Though it wasn't a total waste; I did enjoy talking with the students, this behavior is no longer acceptable. I have to push myself to make at least one professional contact when I attend these events.
2. I have to actually pick a book when it’s my turn to make the book selection for my new book club, rather than suggest someone else make the selection. This club (or book gathering as my fellow members like to call it) is different from book clubs I’ve joined in the past. The members are well read, actually read the books and discuss them at the gatherings; Oprah book selections are frowned upon. It is a little intimidating, since I typically read non-fiction; I am having a hard time coming up with an adequate fiction selection. I thought of choosing Steven Millhauser's Dangerous Laughter: Thirteen Stories which is one of Citizen Reader’s current selections for her Book Menage. It would make a great selection, but I’d feel as if I were cheating if I also selected it. Kate Atkinson's Behind the Scenes at the Museum is another possibility, except doesn’t the title alone sound a little too Oprah. I’d really like to introduce them to my favorite genre, non-fiction, especially one that reads like a novel, but I'm having trouble coming up with a good one. Does anyone have a suggestion; if so leave it in the comments.
3. I need to update my resume with quantifiable accomplishments. Both of the recruiters I work with have been encouraging me to do this for quite some time. They want me to add things like “Implemented blah, blah, blah which saved the company mucho bucks over the past five years."
4. I can no longer just send out my resume; I have to actually go to the interview if invited as well. I have been known to decline or cancel an interview at the last minute in the past.
So there you have it ~ my new focus for 2009 "Get my Ducks in a Row".
In the January 2009 issue of Oprah Magazine, Dr. Phil states the term comfort zone is used inaccurately. He says:
A comfort zone is actually a stagnation zone. You’re stuck because you’re afraid to take a risk. People often tell me the scariest risk is admitting that what they have isn’t what they want. They’re afraid to acknowledge that it’s time for a change because they’re scared to death about making it happen. Quit pretending what you have is okay if that’s not the case.
So here is the new plan for the rest of 2009 – I am going to do one thing each week to push myself out of my stagnation zone with the intent of “Getting my Ducks in a Row”.
Here are a few examples of what I will be working on:
1. I have to actually network when I attend networking events. Last week, I went to an event in which a speaker was presenting a topic I was interested in. I arrived late, sat at the student table in the back of the room, and left immediately after the presentation. I didn’t talk to a single member of the organization. Though it wasn't a total waste; I did enjoy talking with the students, this behavior is no longer acceptable. I have to push myself to make at least one professional contact when I attend these events.
2. I have to actually pick a book when it’s my turn to make the book selection for my new book club, rather than suggest someone else make the selection. This club (or book gathering as my fellow members like to call it) is different from book clubs I’ve joined in the past. The members are well read, actually read the books and discuss them at the gatherings; Oprah book selections are frowned upon. It is a little intimidating, since I typically read non-fiction; I am having a hard time coming up with an adequate fiction selection. I thought of choosing Steven Millhauser's Dangerous Laughter: Thirteen Stories which is one of Citizen Reader’s current selections for her Book Menage. It would make a great selection, but I’d feel as if I were cheating if I also selected it. Kate Atkinson's Behind the Scenes at the Museum is another possibility, except doesn’t the title alone sound a little too Oprah. I’d really like to introduce them to my favorite genre, non-fiction, especially one that reads like a novel, but I'm having trouble coming up with a good one. Does anyone have a suggestion; if so leave it in the comments.
3. I need to update my resume with quantifiable accomplishments. Both of the recruiters I work with have been encouraging me to do this for quite some time. They want me to add things like “Implemented blah, blah, blah which saved the company mucho bucks over the past five years."
4. I can no longer just send out my resume; I have to actually go to the interview if invited as well. I have been known to decline or cancel an interview at the last minute in the past.
So there you have it ~ my new focus for 2009 "Get my Ducks in a Row".
Saturday, February 21, 2009
Scraping my New Years Resolutions
I've decided to scrap my New Year’s Resolutions; I wasn't making much progress anyway. Here is an update –
1. To be a better employee - This one went to the wayside shortly after my company's HR manager attacked my management skills. In the days following, it was all could do to concentrate on my work, let alone try to think like an owner.
2. To become a better blogger, this is something I still strive to do, but I’m not going to participate in the blog improvement project. I still think it’s a great idea and enjoy reading the project assignments. It's just that my blog posts are too infrequent to spend time blogging about my blog.
3. I am going to eat a healthier diet. I have made a small effort to eat better which has resulted in a one pound weight loss. Small effort = small results. Enough said about this one.
If I put my mind to it, I am sure I can come up with a better focus for the rest of 2009 than this.
1. To be a better employee - This one went to the wayside shortly after my company's HR manager attacked my management skills. In the days following, it was all could do to concentrate on my work, let alone try to think like an owner.
2. To become a better blogger, this is something I still strive to do, but I’m not going to participate in the blog improvement project. I still think it’s a great idea and enjoy reading the project assignments. It's just that my blog posts are too infrequent to spend time blogging about my blog.
3. I am going to eat a healthier diet. I have made a small effort to eat better which has resulted in a one pound weight loss. Small effort = small results. Enough said about this one.
If I put my mind to it, I am sure I can come up with a better focus for the rest of 2009 than this.
Sunday, February 15, 2009
AIG quote is cheaper: Should he switch?
Jim asks:
I received an insurance quote from AIG for both my homeowners and my auto insurance policies. The savings over my current policy is substantial; 30% for auto and 50% for homeowners. Is there a risk to switching to AIG? How can their rates be so low? What is the catch?
First, it is important to insure with a company that is financially solvent.
There are three companies that perform in depth investigations to determine an insurance company's financial strength—A.M. Best, Fitch, Moody’s and Standard & Poor’s. The most reliable, financially-stable insurance companies are rated AAA or triple-A. Most of the major insurance companies are A-rated. It is recommended that you go with an insurer that has at least a B rating.
To check AIG’s rating I went to the A.M. Best Website. AIG was rated A. This means only 1 in 500 companies in this category can be expected to go out of business and these companies are 3.3 times more likely to fail than those in the most secure ratings.
What are the consequences if AIG were to fail?
The chances of this happening are pretty slim, since AIG just received an influx of cash from the government. But if they were to fail, not only would you lose any premiums you had paid in, but you could liable for claims incurred if AIG was deemed insolvent. This could be substantial in the event of a liability claim. You would also need to shop for a new insurance policy; most likely one that will cost you more in premiums.
The greater problem may be slow processing of claims.
The InsuranceUSA Website is a marketplace where visitors can learn about insurance products and services and compare competitive offerings. AIG received 29 reviews; scoring 2/5 on customer service and 2.12/5 on claims. Saving money on insurance is great, but if customer service is poor and your claims are not processed on a timely basis you could be setting yourself up for frustrations down the road.
Make sure you are comparing apples to apples.
Really delve into both policies to make sure your AIG quote is not providing less coverage. Compare:
Policy Limits
Deductibles
Perils Covered
Valuation Clause: Actual cash (depreciated) value or replacement cost.
What is the Catch?
AIG lost a lot of business when it almost collapsed and is most likely aggressively trying to win back market share. If this is true and they are low-balling you this year, be prepared for a substantial increase in premiums next year.
Get multiple quotes.
The only way to know for sure if AIG is giving you a good deal it to get multiple quotes; maybe your current insurance company has been overcharging you.
Strategy Recommendation
Before switching, I’m recommending a strategy I’ve learned from the insurance agent I use at work: Go back to your current carrier, inform them you received a lower quote from another carrier (or several if you have multiple competitive quotes) and will switch carriers unless they can lower or better yet match your quoted premiums. If they want to keep your business, they may offer to revise your current policy's premiums. If they refuse, you will have to decide, based on your comfort level with the above information, if you want to make the switch.
The Decision
Jim switched to AIG. In performing his due diligence, he found his current carrier, Allstate, scored just as bad if not worse in financial stability, customer service and claims processing. He was comfortable that he received an apples to apples quote. Based on this information, he did not take my advice and go back to Allstate and ask if they would match his quote.
I received an insurance quote from AIG for both my homeowners and my auto insurance policies. The savings over my current policy is substantial; 30% for auto and 50% for homeowners. Is there a risk to switching to AIG? How can their rates be so low? What is the catch?
First, it is important to insure with a company that is financially solvent.
There are three companies that perform in depth investigations to determine an insurance company's financial strength—A.M. Best, Fitch, Moody’s and Standard & Poor’s. The most reliable, financially-stable insurance companies are rated AAA or triple-A. Most of the major insurance companies are A-rated. It is recommended that you go with an insurer that has at least a B rating.
To check AIG’s rating I went to the A.M. Best Website. AIG was rated A. This means only 1 in 500 companies in this category can be expected to go out of business and these companies are 3.3 times more likely to fail than those in the most secure ratings.
What are the consequences if AIG were to fail?
The chances of this happening are pretty slim, since AIG just received an influx of cash from the government. But if they were to fail, not only would you lose any premiums you had paid in, but you could liable for claims incurred if AIG was deemed insolvent. This could be substantial in the event of a liability claim. You would also need to shop for a new insurance policy; most likely one that will cost you more in premiums.
The greater problem may be slow processing of claims.
The InsuranceUSA Website is a marketplace where visitors can learn about insurance products and services and compare competitive offerings. AIG received 29 reviews; scoring 2/5 on customer service and 2.12/5 on claims. Saving money on insurance is great, but if customer service is poor and your claims are not processed on a timely basis you could be setting yourself up for frustrations down the road.
Make sure you are comparing apples to apples.
Really delve into both policies to make sure your AIG quote is not providing less coverage. Compare:
Policy Limits
Deductibles
Perils Covered
Valuation Clause: Actual cash (depreciated) value or replacement cost.
What is the Catch?
AIG lost a lot of business when it almost collapsed and is most likely aggressively trying to win back market share. If this is true and they are low-balling you this year, be prepared for a substantial increase in premiums next year.
Get multiple quotes.
The only way to know for sure if AIG is giving you a good deal it to get multiple quotes; maybe your current insurance company has been overcharging you.
Strategy Recommendation
Before switching, I’m recommending a strategy I’ve learned from the insurance agent I use at work: Go back to your current carrier, inform them you received a lower quote from another carrier (or several if you have multiple competitive quotes) and will switch carriers unless they can lower or better yet match your quoted premiums. If they want to keep your business, they may offer to revise your current policy's premiums. If they refuse, you will have to decide, based on your comfort level with the above information, if you want to make the switch.
The Decision
Jim switched to AIG. In performing his due diligence, he found his current carrier, Allstate, scored just as bad if not worse in financial stability, customer service and claims processing. He was comfortable that he received an apples to apples quote. Based on this information, he did not take my advice and go back to Allstate and ask if they would match his quote.
Sunday, February 08, 2009
Jane Pauley gives “Practical Inspiration”
I heard Jane Pauley speak last month at Milwaukee's "Smart Talk Event." Along with a group of co-workers, I received a complementary ticket from an event sponsor. Due to the weak economy, ticket sales are down for this year’s "Smart Talk Series" which was evident by the number of seats that remained empty.
Prior to the event, I read Tim Cuprisin’s column in the Milwaukee Journal Sentinel where he introduces what Pauley calls “practical inspiration”:
It centers on a baby boom generation dealing with a longer life than preceding generations. To illustrate her point, she cites her Aunt Martha, who was forced to reinvent herself when she was widowed at 50, and worked 25 more years. Her aunt remained active until she was 90 and died at 94. She personifies what an awful lot of baby boomers are going to look forward to, and that is a long period of good health with frailty in old age and health issues compressed at the end of life. “I’m 58 years old, and the prospect of retiring now when I might have 20 or 30 healthy years ahead of me – one could get really bored.”
A little "practical inspiration" is exactly what I need right now. Even though I’m 15 – 20 years away from retirement, I feel as if I need to begin pursuing a change in my career now, but I have no idea how or where to begin. According to Pauley, "practical inspiration" is where ideas come from. Inspiration is everywhere, but you have to look for it. On change she says, “Going forward isn’t easy. Visualizing it is easy. Actualizing it is hard.” People handle change differently:
-Her friend Meg eagerly looks forward to what’s next.
-Ann, another friend, does not embrace change. She spends all of her time getting her ducks in a row. The point is not to get your ducks in a row. The point is to get your ducks in the water.
- Pauley describes herself as a butterfly, one who flits in an indirect path to a specific goal. All of her ducks are in the water she just doesn't know what to do with them.
I relate the most to Ann, who is afraid to step out of her comfort zone. To combat this fear, Pauley suggests instead of jumping into the water to take baby steps. This is practical advice for someone in my situation. I have a secure job, but everything about my career including my networking group feels stale. With more workers losing their job every day, it’s not exactly a good time to begin a job search or to even think about making a career change, but I can start by getting my ducks in a row. If I take one baby step each week, eventually I will be in the water.
After her speech, Jane was joined by Kathy Mykleby for a question-and-answer session. A follow-up point I found interesting is that Pauley’s 40's were not the best time of her life; her fifties are so much better. She says all over the world the 40's are the worst. Menopause and teenagers both of which appeared in her 40’s were not a good mix.
To date my 40’s (I am 46) have been sort of blah, I really like the idea of my 50’s being better. On the way home, I asked two of my co-workers, who are both in their 50’s, if Pauley’s statement rang true for them. It did not; both felt the quality of their life is worse in their fifties than it was in their 40’s. They based this on job satisfaction, financial well-being and their health. I think enjoying one particular decade over another is more dependent on career satisfaction, the quality of your relationships and your health rather than on your age. I have four more years 'til I’m fifty, I don't want to wait that long to have a more fulfilling life. Perhaps, I need a little "practical inspiration".
I know when its time to leave even if I don’t know where I’m going.
Jane Pauley - Skywriting
Related Posts:
Managing-second-half-of-your-life
Prior to the event, I read Tim Cuprisin’s column in the Milwaukee Journal Sentinel where he introduces what Pauley calls “practical inspiration”:
It centers on a baby boom generation dealing with a longer life than preceding generations. To illustrate her point, she cites her Aunt Martha, who was forced to reinvent herself when she was widowed at 50, and worked 25 more years. Her aunt remained active until she was 90 and died at 94. She personifies what an awful lot of baby boomers are going to look forward to, and that is a long period of good health with frailty in old age and health issues compressed at the end of life. “I’m 58 years old, and the prospect of retiring now when I might have 20 or 30 healthy years ahead of me – one could get really bored.”
A little "practical inspiration" is exactly what I need right now. Even though I’m 15 – 20 years away from retirement, I feel as if I need to begin pursuing a change in my career now, but I have no idea how or where to begin. According to Pauley, "practical inspiration" is where ideas come from. Inspiration is everywhere, but you have to look for it. On change she says, “Going forward isn’t easy. Visualizing it is easy. Actualizing it is hard.” People handle change differently:
-Her friend Meg eagerly looks forward to what’s next.
-Ann, another friend, does not embrace change. She spends all of her time getting her ducks in a row. The point is not to get your ducks in a row. The point is to get your ducks in the water.
- Pauley describes herself as a butterfly, one who flits in an indirect path to a specific goal. All of her ducks are in the water she just doesn't know what to do with them.
I relate the most to Ann, who is afraid to step out of her comfort zone. To combat this fear, Pauley suggests instead of jumping into the water to take baby steps. This is practical advice for someone in my situation. I have a secure job, but everything about my career including my networking group feels stale. With more workers losing their job every day, it’s not exactly a good time to begin a job search or to even think about making a career change, but I can start by getting my ducks in a row. If I take one baby step each week, eventually I will be in the water.
After her speech, Jane was joined by Kathy Mykleby for a question-and-answer session. A follow-up point I found interesting is that Pauley’s 40's were not the best time of her life; her fifties are so much better. She says all over the world the 40's are the worst. Menopause and teenagers both of which appeared in her 40’s were not a good mix.
To date my 40’s (I am 46) have been sort of blah, I really like the idea of my 50’s being better. On the way home, I asked two of my co-workers, who are both in their 50’s, if Pauley’s statement rang true for them. It did not; both felt the quality of their life is worse in their fifties than it was in their 40’s. They based this on job satisfaction, financial well-being and their health. I think enjoying one particular decade over another is more dependent on career satisfaction, the quality of your relationships and your health rather than on your age. I have four more years 'til I’m fifty, I don't want to wait that long to have a more fulfilling life. Perhaps, I need a little "practical inspiration".
I know when its time to leave even if I don’t know where I’m going.
Jane Pauley - Skywriting
Related Posts:
Managing-second-half-of-your-life
Saturday, January 31, 2009
Mandatory "Workplace Fun"
Alison Green of Ask a Manager's recent blog post: Should Managers Organize "Fun" at Work? is so relevant to my current work situation, I have to blog about it.
Alison's reader is fairly new to the HR industry and is thinking of organizing at least one fun activity at work every other month to build morale. She asks if Alison thinks this is an effective way to improve morale or if scheduling too many activities could actually take away from productivity.
Alison responds with:
Yes, there's such a thing as too many activities impacting productivity. Fundamentally, employees are there to get things done. So really, every activity you plan that takes them away from that impacts their productivity. Of course, presumably your thinking is that by increasing fun at work, you increase people's morale, which ultimately leads to higher productivity. And it's true that higher morale tends to equal higher productivity. But is "fun" the way to do it.
For most people, morale and quality of life at work isn't about having a series of fun activities, but rather about having coworkers you like, a boss who is fair and effective, the resources you need to do your job, recognition for good work, clear expectations, and so forth. In fact, without these things, planned activities can really backfire; it can be infuriating to work somewhere that doesn't put much effort into these fundamentals but then expects employees to go wild over a fun outing or social event. Also, many, many people will resent having their work time used on non-work activities. Show me an office organizing a cookie-decorating session and I will show you a bunch of people wondering why they can't instead just go home an hour earlier if you don't need them doing work during that time. Lots of people want to have their fun on their own time, in the ways they choose and with the people they choose.
Well said. I couldn't agree with her more:
My Company's HR manager is attempting to increase our company’s morale by arranging a “fun” potluck every month. At first these events were okay, but now employees from every department are beginning to resent them. They are no longer fun and feel like work. Plus, cooking for a group of forty can be expensive and wasteful; there is almost always too much food. When it’s time to clean up the HR manager (who is part-time) is gone for the day; employees who should be working (they are billable) are wiping tables, washing dishes, packing and throwing out uneaten food. Almost everyone has begun to dread these events, but no one wants to be the one to tell her, “Enough Already”. If you don’t participate she singles you out implying you are not a team player.
In these difficult economic times, many of our employees are working harder than ever before; the last thing they need is the additional task of lugging a crock pot to work. The latest consensus around the coffee machine is that everyone does enjoy getting together, but future lunch events need to be catered. The employees who wish to participate will pay their portion. And if you really want to improve morale, turn up the heat. It’s winter in Wisconsin and its cold in here. Haven't you noticed some employees are actually wrapped in blankets?
Enough Said.
Also, be sure to check out the comments on Alison's post. No one was in favor of mandatory "fun" and many included examples of events that went bad. It was also pointed out the potential of eating something prepared in unsanitary conditions. Do you want to eat something prepared by the co-worker who doesn't wash their hands?
Alison's reader is fairly new to the HR industry and is thinking of organizing at least one fun activity at work every other month to build morale. She asks if Alison thinks this is an effective way to improve morale or if scheduling too many activities could actually take away from productivity.
Alison responds with:
Yes, there's such a thing as too many activities impacting productivity. Fundamentally, employees are there to get things done. So really, every activity you plan that takes them away from that impacts their productivity. Of course, presumably your thinking is that by increasing fun at work, you increase people's morale, which ultimately leads to higher productivity. And it's true that higher morale tends to equal higher productivity. But is "fun" the way to do it.
For most people, morale and quality of life at work isn't about having a series of fun activities, but rather about having coworkers you like, a boss who is fair and effective, the resources you need to do your job, recognition for good work, clear expectations, and so forth. In fact, without these things, planned activities can really backfire; it can be infuriating to work somewhere that doesn't put much effort into these fundamentals but then expects employees to go wild over a fun outing or social event. Also, many, many people will resent having their work time used on non-work activities. Show me an office organizing a cookie-decorating session and I will show you a bunch of people wondering why they can't instead just go home an hour earlier if you don't need them doing work during that time. Lots of people want to have their fun on their own time, in the ways they choose and with the people they choose.
Well said. I couldn't agree with her more:
My Company's HR manager is attempting to increase our company’s morale by arranging a “fun” potluck every month. At first these events were okay, but now employees from every department are beginning to resent them. They are no longer fun and feel like work. Plus, cooking for a group of forty can be expensive and wasteful; there is almost always too much food. When it’s time to clean up the HR manager (who is part-time) is gone for the day; employees who should be working (they are billable) are wiping tables, washing dishes, packing and throwing out uneaten food. Almost everyone has begun to dread these events, but no one wants to be the one to tell her, “Enough Already”. If you don’t participate she singles you out implying you are not a team player.
In these difficult economic times, many of our employees are working harder than ever before; the last thing they need is the additional task of lugging a crock pot to work. The latest consensus around the coffee machine is that everyone does enjoy getting together, but future lunch events need to be catered. The employees who wish to participate will pay their portion. And if you really want to improve morale, turn up the heat. It’s winter in Wisconsin and its cold in here. Haven't you noticed some employees are actually wrapped in blankets?
Enough Said.
Also, be sure to check out the comments on Alison's post. No one was in favor of mandatory "fun" and many included examples of events that went bad. It was also pointed out the potential of eating something prepared in unsanitary conditions. Do you want to eat something prepared by the co-worker who doesn't wash their hands?
Saturday, January 24, 2009
What does fiduciary mean?
Due to my mother's birthday celebration and another Saturday spent preparing year-end spreadsheets for my company's upcoming audit, all I have time for is a short question from Jenna:
What does fiduciary mean?
According to the Dictionary of Finance and Investment Terms, a fiduciary is a person, company, or association holding assets in trust for a beneficiary. The fiduciary is charged with the responsibility of investing the money wisely for the beneficiary's benefit. Some examples of fiduciaries are executors of wills and estates, receivers in bankruptcy, trustees, and those who administer the assets of underage or incompetent beneficiaries.
In addition, administrators of employee benefit plans (especially retirement plans) are considered fiduciaries.
One of the central duties of a fiduciary is to act prudently. Fiduciaries through their actions, or inactions, motivated by, or through ignorance or neglect, may be held personally liable if they breach their duties. Furthermore, fiduciaries should be aware of the actions of co- fiduciaries, since fiduciaries have potential liability for the actions of fellow fiduciaries.
My boss and the chairman of our company are the administrators of our company's 401(k) plan both take their fiduciary responsibility seriously and are well aware of the risk involved. Neither will offer investment advice nor would issue any type of "Stay the course" memo during the most recent stock market decline.
For a more in depth discussion on the definition of a fiduciary please read this article - What is your fiduciary IQ?
What does fiduciary mean?
According to the Dictionary of Finance and Investment Terms, a fiduciary is a person, company, or association holding assets in trust for a beneficiary. The fiduciary is charged with the responsibility of investing the money wisely for the beneficiary's benefit. Some examples of fiduciaries are executors of wills and estates, receivers in bankruptcy, trustees, and those who administer the assets of underage or incompetent beneficiaries.
In addition, administrators of employee benefit plans (especially retirement plans) are considered fiduciaries.
One of the central duties of a fiduciary is to act prudently. Fiduciaries through their actions, or inactions, motivated by, or through ignorance or neglect, may be held personally liable if they breach their duties. Furthermore, fiduciaries should be aware of the actions of co- fiduciaries, since fiduciaries have potential liability for the actions of fellow fiduciaries.
My boss and the chairman of our company are the administrators of our company's 401(k) plan both take their fiduciary responsibility seriously and are well aware of the risk involved. Neither will offer investment advice nor would issue any type of "Stay the course" memo during the most recent stock market decline.
For a more in depth discussion on the definition of a fiduciary please read this article - What is your fiduciary IQ?
Sunday, January 11, 2009
Job Market Rambings
“Job loss in U.S. worst since 1945” was the Milwaukee Journal Sentinel's newspaper headline yesterday. It seems as if media reports concerning the job market and unemployment are becoming increasingly dismal each day. Is it really that bad? Here are some examples of what I’ve been witnessing from southeast Wisconsin concerning the job market:
- My niece’s boyfriend graduated in May with a graphic arts degree from a prestigious art school. He interviewed with 27 different advertising agencies before receiving a second interview and ultimately a job offer. This occurred in early December. HR representatives told him companies have slashed their advertising budgets by 40%. This has been a humbling experience and he is grateful to finally have a permanent position.
- My company laid-off our first female salesperson for failing to meet her sales goals last fall. I blogged about her here. This was a real disappointment because she was our first female salesperson and also because it's rumored she didn't really try. Supposedly, she refused to follow up on sales leads. What was she thinking? Now she is unemployed in this economy.
- My company made a job offer to a candidate for the above position. He was looking to make a career change from inside sales to outside. After reviewing our benefit and salary package, he decided to stay where he was. He wasn’t willing to take the risk of working on a commission basis with fewer benefits in today’s economy.
- Our HR department reposted the advertisement for the above job on various internet web-sites; one day’s worth of resumes utilized an entire ream of paper and then some. The applicants come from the banking and mortgage industries, land development and recent college grads.
- While listening to a recent radio talk show, I heard the nursing industry is actively recruiting in the Milwaukee area. Nurses are in such short supply at the Wheaton Franciscan Healthcare in the Milwaukee-area city of Glendale that they gave $50 gas cards to experienced nurses just for showing up for an interview.
Last year, Kiplinger.com ran a feature about recession-proof careers. These fields include healthcare, education, security, environmental science and government. If your area of expertise can be performed in any sector such as IT, HR or accounting be sure to include the above sectors in your job search.
The headline in yesterday's paper is deceiving; our country's population is substantially larger today than it was in 1945. When comparing the percentage of individuals losing their jobs with the countries total population, the actual jobs lost was much worse in 1945 than it is today. In saying that and despite certain sector hiring, it appears that this is a challenging, humbling and scary job market for many individuals searching for new employment.
- My niece’s boyfriend graduated in May with a graphic arts degree from a prestigious art school. He interviewed with 27 different advertising agencies before receiving a second interview and ultimately a job offer. This occurred in early December. HR representatives told him companies have slashed their advertising budgets by 40%. This has been a humbling experience and he is grateful to finally have a permanent position.
- My company laid-off our first female salesperson for failing to meet her sales goals last fall. I blogged about her here. This was a real disappointment because she was our first female salesperson and also because it's rumored she didn't really try. Supposedly, she refused to follow up on sales leads. What was she thinking? Now she is unemployed in this economy.
- My company made a job offer to a candidate for the above position. He was looking to make a career change from inside sales to outside. After reviewing our benefit and salary package, he decided to stay where he was. He wasn’t willing to take the risk of working on a commission basis with fewer benefits in today’s economy.
- Our HR department reposted the advertisement for the above job on various internet web-sites; one day’s worth of resumes utilized an entire ream of paper and then some. The applicants come from the banking and mortgage industries, land development and recent college grads.
- While listening to a recent radio talk show, I heard the nursing industry is actively recruiting in the Milwaukee area. Nurses are in such short supply at the Wheaton Franciscan Healthcare in the Milwaukee-area city of Glendale that they gave $50 gas cards to experienced nurses just for showing up for an interview.
Last year, Kiplinger.com ran a feature about recession-proof careers. These fields include healthcare, education, security, environmental science and government. If your area of expertise can be performed in any sector such as IT, HR or accounting be sure to include the above sectors in your job search.
The headline in yesterday's paper is deceiving; our country's population is substantially larger today than it was in 1945. When comparing the percentage of individuals losing their jobs with the countries total population, the actual jobs lost was much worse in 1945 than it is today. In saying that and despite certain sector hiring, it appears that this is a challenging, humbling and scary job market for many individuals searching for new employment.
Sunday, December 28, 2008
Working with a FOB (friend of the boss)
Last summer, our President offered a friend of his family a permanent position as our HR Manager. Her original introduction into the company over a year ago was not handled well resulting in all sorts of problems. She was never given a detailed job description and our employees did not have a clear understanding of her role in the company. This allowed her to create her own job description stepping on many toes in the process. Over a year later, employees still do not embrace her or her ideas. They do not trust or respect her as an HR Manager. This is probably for good reason, her main objective since she arrived was to create a permanent job for herself and her loyalties clearly lie with the owners. Others feel she received special treatment, such as an extremely flexible schedule and a higher than normal salary that would not have occurred if she wasn’t a friend of the owner.
I am one of her few confidants, yet I have also had my differences with her. As I look back on 2008, I realize too much time and energy was spent by me and my department resisting her and her ideas. I have come to realize if I were to become her rival everybody loses; her, the company and especially me, since she is the family friend. In 2009, I vow to develop the best possible relationship I can with her.
As a peace offering, I am sending her a note (written on the note cards she gave me as a holiday gift) thanking her for her support and encouragement in 2008 and wishing her a Happy New Year and a successful 2009. Perhaps others will follow my example and as a group we will begin focusing our energy on the real problems at hand such as the lousy economy.
I am one of her few confidants, yet I have also had my differences with her. As I look back on 2008, I realize too much time and energy was spent by me and my department resisting her and her ideas. I have come to realize if I were to become her rival everybody loses; her, the company and especially me, since she is the family friend. In 2009, I vow to develop the best possible relationship I can with her.
As a peace offering, I am sending her a note (written on the note cards she gave me as a holiday gift) thanking her for her support and encouragement in 2008 and wishing her a Happy New Year and a successful 2009. Perhaps others will follow my example and as a group we will begin focusing our energy on the real problems at hand such as the lousy economy.
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