Thursday, July 12, 2012

WITSEC, Ethical Wills & Personal Financial Life Planning


Healing Personal Financial Anxiety:
WITSEC, Personal Financial Life Planning & Ethical Wills – Part I

The origin of the ethical will  is said to be verbal from a  dying Jacob gathering his sons to give them  blessings with the request they bury him in Canaan (to be Israel – Jacob/Yaakov’s other name sake!) not in Egypt (Mitzrareim – restriction, limitation.) “”Genesis 49:1-33. Another ethical will example is when Moses instructs the Israelites to be a holy people and teach their children (Deuteronomy 32:46-47)

            Annually on my birthday, I revisit my Ethical Will.
            Today, the writing of an Ethical Will (Zevaoth in Hebrew) once a Judaic tradition is an anachronism except for a few revival attempts just like the practice of writing one’s mission/purpose statement on Yom Kippur (the Judaic day of atonement/at-one-ment. Ironically while the ethical will is to be read upon one’s proceeding underlining one’s legacy, and the Yom Kippur mission statement is to remind one’s his purpose today, both practices refocus on the question of ‘why am I?

Exercise #1 WITSEC
            A valuable exercise to start one’s mission/ethical will is hypothetically considering one had to enter the WITSEC program (Witness Protection administered by the Department of Justice featured in TV Show In Plain Sight).
Per the witness protection program protocol, tomorrow you will lose your present identity, be relocated, and not allowed to contact anyone past or present who knows you. The challenge given this clean slate – how will you reinvent yourself – in particular in vocation, and mission in life now – and 20 years from now looking back?
Clean slate – no baggage – what will you be when you grow up this time, what is your ‘why am I?’

It’s only your life – In Plain INsight     

Exercise 2: Mission/ Vision

            Recycle this exercise twice: first, relative to mission – what can be; secondly, relative to vision should be and then see if you can reconcile mission and vision.
            Note: You must define ‘the is not’ as well as ‘the is’ otherwise all you get is ‘snot’ (vague motherhood Obamaesque slogans – all hat no cattle - like ‘hope and change’ type statements that result in ‘self hoax and chump change.’)


What (and what not – you can’t do the same vocation)
Why (and the whys you won’t pursue)
How (and how’s that are not acceptable)
Where (and where not).

It’s only your life – In Plain INsight.

Exercise 3: Yom Kippur Assignment
(You Die / Proceed Today)

(name), age ,died yesterday from.
He  is survived by  
He was a member of 
He will be remembered for:
He will be mourned by
The world will suffer the loss of his contributions in
He always wanted but got:
The body will be .

In The Future (10 or 20 or 30 years hence)

(name), age ,died yesterday from
He  is survived by
He was a member of 
He will be remembered for:
He will be mourned by
The world will suffer the loss of his contributions in
He always wanted but got:
The body will be .

            The above become the foundation for an ethical an outline of which will be illustrated in the next blog…

Thursday, July 5, 2012

Never Enough: The Korach Within

 Never Enough: The Korach Within 

Isn’t it enough that the God of Israel has distinguished you from the congregation of Israel, drawing you near to Him, to perform the service  of God’s Tabernacle and to stand before the congregation, to be their ministers?
Moses to Korah: Pashas Korah 16:9

            (Note: (Note: The above is not to be confused with pulpit Rabbi admonishing the former envious SINagague congregational president who still wanted to be on the Bimah next to the Rabbi at Saturday services a position given only to the current congregational President .)
           
            Never enough.
            Goodie still in futility daily during ball to get both her and Moses’ (oh, the irony) ball concurrently in her mouth – as one tennis ball isn’t enough.
           

Never Enough!
            Let me cut off my brother’s head so I can be taller
            Never Enough!
            To paraphrase Mencken, ‘(I happy) as long as my sister’s husband makes $100 less a week than my husband.’
            Never Enough.
            All the personal financial goals funded – ‘I need a cushion just in case’
            Never Enough.
            Okay, I have the cushion – but ‘I finally got the means to the ends and now I want to move the ends (again)’
            Never Enough: Is MORE - The Korach Within.

My dog’s faster than you dog
My dog’s bigger than your dog
My dog’s better cause he gets Ken-L Ration
My dog’s bigger than yours
Ken-L-Ration commercial 1963

Never Enough goes back to the snake tempting Eve as well as the story of Cain (acquisition in Hebrew) and Abel. Whereas Abel offered ‘the first yearlings’ to God because God was Shaddai (God, God Almighty, God All Sufficient, Enough), Cain, whose idea the sacrifice was, didn’t offer ‘the first/best yearlings’ keeping the best ‘More’ for himself as Shaddai wasn’t enough.

            Even though at Passover we sing the song Dayenu (Enough) where each lyric line begins (prior to the melody) with ‘it would have been enough (dayenu).’
            The day after, the 42” plasma TV isn’t enough – we need a 50” screen chamatz TV.
            Never Enough: MORE - The Korach Within

            It is said that in the punishment is in the sin: Never Enough (The Korach Within) – aka more, better, now has a habit of becoming worse, less, later. Still – even experiencing the aforementioned, we repeat sacrificing what we need for what we don’t need (MORE). 
The relative external comparison ranking amongst men is the idolized god. And the name of this faux deity ‘If Only.’
Never Enough: The Korach Within – If Only.

CHEWish (if only) On This©

Tuesday, May 15, 2012

It's The University Business Model Stupid, Not Interest Rates


It’s The University Business Model Stupid, Not Interest Rates

            The New York Times feature story on student loans (A Generation Hobblied by the Soaring Cost of College) was sheer idiocy – focusing on the capillaries (student loan interest rates) not the heart of higher education costs (personal financial ebola) that indentures students and or canabalizes or defers the work free retirement of their co signing or borrowing parents: the damn incompetent featherbedding arrogant inefficient effete normative pompous recklessness of the university business model based to tenure and collegiality rather than the  cost benefit ratio to the student and the learning delivered.
            And the Times and its douche bag writers (sorry Vince this was a political agenda in search of a story) accomplices to a political agenda as they know better. And yes, I’m maligning their motivation – which journalists practice daily – but are thin skinned when it is their ass.
            My assertion is illustrated by the numbers below:

Higher Education Personal Financial Ebola

            The example below assumes:
  • Private school 4 years – room board tuition books starting at $40,000 a year
  • Higher ed inflation of 9% versus the overall inflation of 3% (300%+ has been the higher education inflation cost historically)
  • Graduation in 4 years (when less than 25% overall graduate in 4 years)
  • Reinvestment rate in a 401K of differential @8% which is conservative given PERA uses 8.5% and Calpers 7.75%.
  • Without reinvestment the differential in higher education costs in $482,000 and with the difference reinvested $546,000 ($818,000-$272,000) is the cost per child that otherwise could go to the parents’ retirement for example

160,000@9%
new value
160000@3%
new value
inflation diff
'infl diff invest 8%
14400
174400
4800
164800
9600
35520
15696
190096
4944
169744
10752
36835
17109
207205
5092
174836
12016
38116
18648
225853
5245
180081
13403
39367
20327
246180
5402
185484
14924
40587
22156
268336
5565
191048
16592
41781
24150
292486
5731
196780
18419
42946
26324
318810
5903
202683
20420
44085
28693
347503
6080
208764
22612
45201
31275
378778
6263
215027
25012
46295
34090
412868
6451
221477
27639
47368
37158
450026
6644
228122
30514
48421
40502
490529
6844
234965
33659
49456
44148
534676
7049
242014
37099
50472
48121
582797
7260
249275
40860
51471
52452
635249
7478
256753
44974
52457
57172
692421
7703
264456
49470
53427
62318
754739
7934
272389
54384
54384
inf diff + reinvest




$818,189.00
infl diff
$482,349.98





            So while politicians are fiddling with student loan interest rates, unaccountable effectively un-terminable tenured holier than thou professors and their administrative enablers like former University of Colorado President and now Ohio State President Gordon Gee Whiz (On Your Wallets) making serfs out of indentured students and or delay or waylay parents work free retirements.
            It was Gordon Gee Whiz On Your Wallets, making reportedly high six figures (1) who said in the May 12, 2012 New York Times article A Generation Hobbled by the Soaring Cost of College “I readily admit it. I didn’t think a lot about costs. I do not think we have given significant thought to the impact of college costs on families.”
            Duh
           
(1)   In addition, Ohio State has spent at least $844,000 on the school president's travel since 2007, including more than $550,000 in the past two years that included two trips to China plus two other international trips to Iceland, Turkey, France and the United Kingdom, according to a report by the Dayton Daily News. And according to Wikipedia “Gee's base salary is $802,125, with a total compensation package of $1.6 million, making him the highest paid public university president in the United States”

















Sunday, April 8, 2012

The Question of More vs Enough - Having It All

WHEN DID HAVING ENOUGH STOP BEING ENOUGH?
AND, WHY?


(IF YOU HAD ‘IT ALL,’ WHERE WOULD YOU PUT IT?)
Public Storage(tm)?

Sunday, March 18, 2012

Equations: More vs Enough vs Meaning

MORE ≥
MORE ≥ MORE ≥ MORE ≥ MORE ≥ MORE ≥ MORE ≥
MORE ≥ LE$$
(the less-on)

ENOUGH(sm) = Enough to live for ÷ Enough to live on


Meaning = Calling X(Intention + Authenticity + Perseverance)÷(Pain+Resistance)

Enough = healing personal financial anxiety, puttin’ money in its place to transcend to significance (meaning)

Thursday, February 9, 2012

The MORE Response

The MORE response©

There are many so called ‘responses’ not the least of which are the following:

• The Relaxation Response (made famous by Dr. Herbert Benson): a group of physiologic changes that cause decreased activity of the sympathetic nervous system and consequent relaxation after stimulation of certain regions of the hypothalamus. (In others, this response de-stresses one).


• The Fetch Response: the repetitive happy presentation of object (in particular, tennis balls by Her Majesty Goodie) to retrieve after toss or soulful eyes presentation of ball engendering Jewish guilt so as to continue More throwing the retrieving process ad infinitum if she had her way – as this never Enough fetch.

• The Kfetech Kevetch Response: bortzing, complaining, whining but particular by this Jewish companion animal guardian (reality – serf) for Her Royal Highness’ incessant unending (if allowed) desire for fetch and yet he continues to give in. (She loves fetch, he must love kevetching better than the relaxation response.)
……………………….

My standard poodles,Goodie and Elle and I would play fetch in the backyard twice a day – the first time, in the morning and secondly late afternoon.
(Moses, my faithful male black standard poodle chevrutah (study partner), still prefers being first on the chair with me when I study to ball).

I would throw three to four balls. And invariably Goodie, still without success, tries to put two rubber balls in her mouth. And even when she has a rubber ball in her mouth, the one Elle is fetching looks better – MORE .

I can only wonder through osmosis if the proclivity and preference towards MORE has been transferred in domesticating our dogs, as Goodie, with tennis ball already in her mouth, would go after Elle’s ball in a ‘burning bush’ because it might better.
………………………

Announcing (drum roll please), now for the first time - alluded to but unnamed here to date is for your personal financial taxonomy classification: The MORE response©

The MORE response©: Stimulated/motivated by the delusional quest to overcome inevitable extinction of the physical (which one identifies as ‘himself’), the The MORE response©, is a derivative of acquisition (Cain), which seeks to gain THE permanent, THE certain, and THE continuous thus, overcoming the inevitable physical extinction (a delusion) or at least palliating oneself in the interim.
Practitioners (whether consciously or unconsciously, lay or professional) of The MORE response© are affectionately referred to as MOREONs.
The MORE response© masquerades and is exemplified as follows:

• If only, if only, if only, if only, if only
• But what if, but what if, but what if
• Yes but, yes but, yes but
• I’m too busy getting more so I’ll have enough (which I don’t have time to calculate)

The MOREON response©:

1. Sacrificing what one needs for what one doesn’t need
2. MORE, Better, Now…

The MOREON response© ReBUTTal:

1. MORE, Better, Now… which typically becomes LE$$, worse, later.
2. “The More fat, the More disease. The More possessions, the More worry. The More wives, the More rivalry. The More maids, the More frivolity. The More butlers, the More theft.”
Rabbi Hillel, Pirke Avot 2:8

The ENOUGH Response ©:
Enough to live on; Enough to live for

The ENOUGH Irony©

Sunday, January 22, 2012

More vs ENOUGH from Ecclesiastes to Talmud To New Testament

More vs ENOUGH – January 22, 2012

The More fat, the More disease. The More possessions, the More worry. The More wives, the More rivalry. The More maids, the More frivolity. The More butlers, the More theft.
Rabbi Hillel, Pirke Avot 2:8

The More you have
The More you have to maintain
Ecclesiastes 5:10

I have seen a great heartache in this world;
you hoard your wealth to guard against the future
only to lose it all in a deal gone bad
Ecclesiastes 5:12-13

If you are clever in the ways of finance
yet lack the capacity for contentment (enoughness – jds)
are you at all superior to the financially ignorant?
Is a contented pauper less than a discontented financier
Ecclesiastes 6:8

Once there was a rich man who lad lots of money and he said, ‘I willinvest my money so that I can sow, reap, plant, and fill up my silos with crops so I won’t lack anything’ So he thought, but that night he died.
Gospel of Thomas

If you are clever in the ways of finance
yet lack the capacity for contentment (enoughness – jds)
are you at all superior to the financially ignorant?
Is a contented pauper less than a discontented financier
Ecclesiastes 6:8

More, better, now becomes less, worse, later
Jim Schwartz

Money can’t buy happiness but it can’t buy you poverty either
Ellis Schwartz