Wednesday, November 25, 2015

The Hobbit: The Yetzer MORE & 'My Precious'


The Yetzer MORE & My Precious  
from The Lord of The Rings
(The Two Towers)
 



The Yetzer MOREring
(The Precious)


Gollum: We wants it, we needs it. Must have the precious.
Gollum: He wants the Precious. Always he is looking for it.
And the Precious is wanting to go back to him... But we mustn't let him have it.

            Ever ever so gently, when my Hebrew school report cards came out, my Bubbe  (Tillie) Schwartz would sit down in her chair in the dining room and get out her change purse. With failing eyes piercing through her bifocals, she would gingerly open up that little change purse and take out a dime, putting in on the adjacent cabinet for each ‘excellent.’ (I had very few excellents in Hebrew School as the best students in public school, in competition, sought to be the worst Hebrew school students.) Still, hunched over that precious little change purse, Bubbe would close it ever so gently putting it back into her apron – giving ‘her boylah’ – the two or three dimes – if that.

            What goes up must not go down because ‘it’s ours, our precious” due to the infection of Yetzer MORE.
When there were years where relative to the goal and the risk, the allocation outperformed the required rate of return for the goal, I repeatedly reminded clients and others to remember this as ‘you will be giving some of this back in the future.’ Furthermore, when a fund, for example, did 2x or 3x the required rate of return – I made a point to remind them of the eventual part give back let alone don’t continue to expect this.
Of course, the clients and friends said they understood and recognized this eventuality but when it occurred – the Yetzer MORE  got the best of them forgetting the aforementioned counsel, forgetting that each stock, bond, mutual fund etc is just 1 ingredient in the goal – focusing on the one ‘bad’ one (not the goal even let alone ‘the good ones.’)
Why?
The Yetzer MORE – manifests itself as ‘my precious’ no different than for Gollum – and once the stock, bond, whatever is up – it’s theirs forever at that level (unless it goes higher) and any diminution is taking away, stealing their ‘precious’ even if still on target to or maintaining Enough…
The irony #1: ‘my precious’ more, better, now has a habit of becoming ‘less, worse, later’ in the Sisphusian pursuit of Precious MORE

Where is the power of The Yetzer MORE  derived from?
The Yetzer MORE is a derivative of the Yetzer Hara (the not good inclination) which itself comes from Cain – Acquisition.
And why Cain (as in Citizen Cain) Acquisition?
Acquisition is the perceived antidote or at least palliative to fear of extinction – our sense of self which we identify with our ‘precious’ body let alone being ‘dependent’ and taking ‘crap’ (not having choices being ‘in control.’)
Thus, The Yetzer MORE is not offset by:

·         faith in God and or
·         faith in one’s own adaptability and resourcefulness and or
·         knowing what ENOUGH IS, and or
·         meaning IN one’s life (which is relegated, or put off as ‘being to busy getting More to have ENOUGH which is never ENOUGH’ though at the same time concerned even complaining  about ‘what next in their life,’ or the ‘next chapter in their life’)

The Yetzer MORE OVERRIDES – Hi Ho Silver!! – (is it a good buy?).

The Yetzer MORE is Gollum’s my precious. And my precious is a Yetzer MORE phing of The Yetzer MORE.
And remember: one can die from an overdose of MOREphine – my precious.

Hi Ho Silver!! – (is it a good buy?)

Tuesday, November 24, 2015

SIN (Chet), Lacking & MORE




 SIN (Chet), Lacking & MORE

            From an etymological perspective, SIN is derived from the Greek meaning ‘missing the mark.’
            In 1 Kings 1-21, SIN (chet in Hebrew) connotes lacking.

            The concept of  MORE is the insinuations that:
1.      without MORE one is lacking and therefore LESS or
2.      one has LE$$ and therefore not as worthy.

‘Having’ LESS implies lacking (NOT having or being ENOUGH) which ‘if only’ there was MORE one wouldn’t be – missing the marking (Greek) or chet (SINning).
          
            How clever the chetting of the Yetzer MORE & its advertising acolytes pitching selling if only’ MORE or you are less’ and therefore you need MORE. Derivatively, systemically even some of our organized pulpit religions sell ‘AFTER LIFE INSURANCE  (MORE) subsidized by tax deductible contributions to get MORE .

           Thus, personal financial planning’s MOREon-chondria contextually is understandable as well as reinforced.         


  

Wednesday, November 4, 2015

The LESSons of ‘MORE \ MORE - The Yatzer MORE




The LESSons of ‘MORE \ MORE

            While the ‘yatzer tov’ and the ‘yatzer hara’ are respectively literally defined to be the so called  ‘good inclination’ and the ‘evil inclination,’ the implication of the ‘yatzer hara’ is according to others:

·         ‘away from the will of God, and or
·         the instinctual inclination which would dilute the deliberate evil demonic force (though these forces in excess can lead to evil (Genesis Rabbah 9:7
·         when controlled by the yatzer tov, can lead to socially desirable results.

            A derivative of the yatzer hara, for purposes of the ensuing hypothesis is ‘The Yatzer MORE ’ – the force, the inclination towards ‘MORE MORE MORE.’ Per as ‘The Yatzer MORE: there is never enough compounded by the fear of less, less, less as manifested & materialized by the rationalizations of never ending ‘if onlys’ (indicating the self unfulfilling prophecy in one’s ‘lacking & lacktose intolerance.’)
            Further MORE, the Yatzer MORE cannot be cured – only managed (a very very low probability – not even 1%) by the Yatzer Tov. Recognition Shaddai is Enough  and understanding & even verbalizing ‘what is ENOUGH ’ is just lip service as  the Yatzer MORE, a derivative of the Yatzer Hara,  is reinforced genetically and by society (be it communism, socialism, capitalism).
The Yatzer MORE pervades – it’s just a matter of who gets what in splitting up the pie – whether earned, a matter of theft however masked (restitution, entitlement ((rationalized as fairness, social justice, income inequality, and generally being offended)), crony crapitalism or Dachaa vacations houses for the Politburo.)

            And yet, the ever increasing level of anxiety & rotation thereof, cultivated & promoted by the Yatzer MORE, is unnecessary and irrational (again with the understanding the Yatzer MORE cannot be cured only managed.)

            After 20 years of practice, 2 editions of ENOUGH , subsequently another 5+++ years of blogging on ENOUGH (healingfinancialanxiety.blogspot.com) and taking calls another 20 years from former clients and friends (though out of practice) who say they believe and understand ‘ENOUGH’ (The Yatzer Enough??) without question, without question the Yatzer More still dominates them. In comparison, the Yatzer MORE  is the perennial playoff New England Patriots and the Yatzer Enough is Washington Generals basketball team (2)
            Instead of asking the question when one stock, in one mutual fund, which is merely one holding in one objective’s portfolio, is down, do I still have ‘ENOUGH ’ nor remembering this mutual fund for years way over performed the needed rate of return for the objective (often 2 years or more of rate of return desired in 1 year), forgetting the fit of this fund within the context of the objective, there is ever increasing anxiety in the conversation highlighted by ‘but, but, but’ focusing on ‘less’ (the derivative of the Yatzer MORE  drive)..
(Of course, forgotten is the one stock within one of the funds that skyrocketed – because that was already pocketed, and what was pocketed should never be ‘lessened’.When this was pointed out to several, the response was, ‘yes, I know. I know you are correct. I understand ENOUGH’ and 30 seconds later for 15+ minutes right back  to MORE  and less.)
            Noteworthy:” the Yatzer Hara’s note of MORE drowns out the music of ENOUGH  – while the anxiety laden focal point becomes the ‘missing tile’ (2) or the Iranian Persian Flaw (2) (except for Obama, Hillary & Kerry) rather than the objective.

            Why?

I have come to the conclusion after these 40 years of writing, consulting, doing workshops, preaching ENOUGH the comparative hurriCAINe of The Yatzer MORE  has won hands “down.” The Yatzer MORE dominates, overrides, and governs (it’s just in hibernation once in a while). Yes, this Yatzer MORE behavior is an inbred inclination. The Yatzer MORE inclination fosters the belief and action that there is  never enough while advancing the faith, trust, and yes idolatry in intangible and tangible assets disregarding the adaptability, the resourcefulness, and the ‘empirical figuring it out’ of the individuals themselves in themselves who assembled, gathered, reshuffled, and or combined the assets. At the same time implicitly The Yatzer MORE  discountd & or dilutes acknowledgment of Hashem (Shaddai- Enough) who created the assets to be assembled, gathered, reshuffled, and or combined.

I figured it out
I figured it out
With a pencil and a pad I figured it out!
Lyrics from the Pajama Game song 7 ½ cents

We undervalue our ability to ‘figure it out’ – our adaptability and resourcefulness. On corporate balance sheets, assets and liabilities are calculated to determine ‘net worth’ (yes, net ‘worthiness’ of all words). On these corporate balance sheets, there is typically an asset titled ‘goodwill.’ Goodwill arises when a company acquires another entire business. The amount of goodwill is the cost to purchase the business minus the fair market value of the tangible assets and the intangible assets that can be identified, and the liabilities obtained in the purchase. Essentially ‘goodwill’ represents the going concern value – dare one say - the energy that assembled, gathered, accumulated, combined and or reshuffled both the assets above and beyond the mere financial value of the intangible or tangible assets.
Yet, a value for one’s personal "goodwill" that assembled, accumulated, reshuffled, etc the assets representing the ability to ‘figure it out,’ (our adaptability and resourcefulness’ our going concern value) is not reflected nor calculated for our ‘net worth – net worthiness.’
(The Yatzer MORE is obviously in charge of Generally Accepted Accounting Principles – ironically otherwise known by the acronym GAAP. A coincidence?)
As a result, we undervalue our wealth (adaptability and resourcefulness – the ability to figure it out)- worshipping the idol of net financial assets (net worth)  that could be devalued tomorrow.
Therefore, The Yatzer MORE ’s personal financial anxiety reigns – buy Xanex.
And so much for acknowledging the Creator.
           
            And yet, this is irrational – per the following exercises.

In remembering one’s difficult periods life, answer and fill in chronologically the following:

Difficulty                       How resolved                 How stronger for it

1.-

2.-

3.-

4.-

5.-



Did you not endure these periods? Did you not come back from them? Did these periods, in fact, make you, in some respects,  even stronger? Did the descent (difficulty) lead to ascent?
Did money really get you through these periods or did your own adaptability and resourcefulness – ability to figure it out?
And, in the future, should, for example, a devaluation occur, will it not be your adaptability and resourcefulness that will allow you to secure the "currency of the realm" to accommodate to the situation?
We confuse money (the current currency) with our wealth - our resourcefulness and adaptability to figure it out.

Furthermore, even when confronted with this empirical reality, there is always another but:

·         I’m older now
·         That was then, this is now
·         I don’t have the energy
·         It’s a different world
·         China’s impact
·         The demographics have changed
·         Average middle class income is down
·         Jim Cramer says
·         That was then; this is now
·         The economy is artificial with the Federal Reserves low interest rates
·         Social security is a ponzi scheme
·         And the golden oldie that never gets old, ‘you don’t understand…I have to make more to have enough which I can’t tell you what enough is’
·         etc

            And so, we believe in money – the current currency (which can be devalued) – MORE & less than our own resourcefulness and adaptability (that assembled, gathered, accumulated and combined Hashem’s created assets) that we ‘figured it out’ - than ourselves - let alone Hashem- Shaddai (Enough).


1.- The Missing Tile Syndrome – focuses on what we don’t have (what’s missing) rather than what we have
The Persian Flaw - The Persians believed only God was perfect so carpet makers would intentionally place flaws or mistakes in the carpet.
2.- The Washington Generals were an American exhibition basketball team, best known for their spectacular losing streak in exhibition games against the Harlem Globetrotters. (i.e. The Harlem Globetrotters 2000+++ wins against the Washington Generals 1 win.)

Wednesday, September 30, 2015

The Blemished Premise: AUM Compensation More Aligned with Client’s Interests




Blemished Premise:
AUM Compensation More Aligned with Client’s Interests

            The base premise & promise of personal financial planning is the hoped for alignment of client resources with their desired goals.
            Accumulation is a tactic in meeting some (i.e. education, transition slow down, retirement)  – but not necessarily all of the personal financial goals
            In contrast to the premise and promise of personal financial planning, the underlying assumption of asset management is for accumulation, preservation, and or distribution of assets i.e. be it for education, slow down, retirement etc)
           
            Now two behavioral assumptions:
1.      From Maslow: if all you know is a hammer, everything will look like a nail
2.      Behavior is a function of its consequences

Per columnist Bob Clark (in defense of asset under management ((AUM) compensation) summarized those defending AUM in a recent ThinkAdvisor.com post, “Financial planning may be what people need, but more money is what they want what they will pay for.”
If personal financial planning is what is needed AND is what is sold, but asset management (accumulation, preservation, distribution etc) is what is paid for, then this ‘personal financial planning’ is merely a Trojan horse for asset under management compensation and one could argue double dipping the client. (1) Furthermore, per this premise, the ‘asset manager’ in planner’s clothing’s hammer focuses on the nail making more (asset accumulation, distribution, preservation etc) while the client’s other objectives (i.e. asset protection (income replacement due to disability, capital depletion minimization due to long term care, disasters, creditors etc), estate conservation (income adequacy to spouse, disposition of assets per desires, liquidity etc.) In effect, the other objectives become second, third class citizens – reviewed in the initial planned, winked at at best or ignored at worst thereafter to the client’s detriment. Why? Behavior is a function of its consequences - these other goals aren't continually compensated in AUM.
            Yes, all forms of compensation have inherent conflicts – some more than others and Clark tries to preempt the objections to AUM – but on the basis of a false premise – that personal financial planning is asset management. Thus, the premise is incorrect and therefore the arguments fall apart (arguing the wrong thing very well). Thus, in effect, AUM compensated personal financial planning is the wolf (asset management) in sheep (financial planning clothing) a bait and switch complicity between the asset manager in planner clothing and the client who says they want personal financial planning but really will only pay for asset management.

(1) The double dip in asset management: i.e. paying the mutual fund, etf  (asset manager) .5 basis point, 1% whatever, and then another 1% to the asset manager in personal financial planning clothing.

ENOUGH Jewish Personal Financial Life Planning™ vs The MORE AS CERTAINTY Fallacy

Readers - yes, this entry has a decided Judaic orientation....



ENOUGH  Jewish Personal Financial Life Planning™ vs
The MORE AS CERTAINTY Fallacy

Any intelligent fool can make things bigger, more complex, and more violent.
 It takes a genius and a lot of courage to move in the opposite direction
E.F. Schumacher

Per The Tanya, desire is the result of Lack (manifested as If Only)

            And the underlying tactic of the Lack/ If Only desire sequence is acquisition (Cain in Hebrew) and its derivative tactic: MORE 

Thus, implicationof  “If Only” is:  then” (then all will be okay). And ‘more’ often than not, then requires even MORE .

            Thus: the cascade:
            LACK
                        IF ONLY (Desire)
                                    ACQUISITION
                                    MORE, MORE, MORE
                                   
Initially,  the palliative MORE may temporarily result in gain (pleasure) or avoidance of loss (pain). But inherently for MORE or even being ‘on the road’ to MORE – there is never ENOUGH. Intrinsically, MORE  seeks the ever elusive  Sisyphusian illusion of CERTAINTY (2) & its siblings PERMANENCE & CONTINUITY.  Further MORE’s fundamental belief is that MORE is MORE is always better. (Ironically, MORE, Better, Now has a habit ((in time)) of becoming Worse, Less, Latter!)
Thus,  the cascade of lack, if only, acquisition, more, then – taken to its illogical illusory conclusion - is for the purpose of attaining ‘certainty’ (and NOW! Damnit!).
And yet, while No is till Thursday, Never till next Friday, Forever till next Sunday the only certain things are death, taxes, and that  per President Reagan “no one washes a rental car before they return it, we continue to Quixotic quest of MORE for CERTAINTY. (1)

CERTAINTY:  unconditionally guaranteed UNCERTAIN.

Man plans, God laughs (2)
Yiddish proverb

            So if there are no guarantees – no certainty (save death, taxes, and not washing a rental car), and if, especially for the 45 year old + - the biggest concern is the fear of outliving their money – the  MORE addiction is due to the fear of not having ENOUGH. How ‘then’ does one minimize & manage this anxiety while dealing with the second largest concern: finding meaning IN one’s life– other than resorting to the comfortable altered state of the  habituated  MORE compulsion – The MORE –ifest Destiny (3)?

ENOUGH JEWISH PERSONAL FINANCIAL LIFE PLANNING:
Healing personal financial anxiety,
Aligning & puttin’ money in its place (ENOUGH to live on),
To connect (Tzavta), elevate & transcend to one’s significance & assignment
What one is meant to do (ENOUGH to live for) & meant to be

            In contrast to the ‘altered’ state of MORE Personal Financial Planning, ENOUGH Jewish Personal Financial Planning is for an ALTAR-ed” state.

In Hebrew, there is no word that is synonymous with God connoting MORE However, the third of fourth reference to God in Genesis in the Torah is the name Shaddai. Shaddai literally means, ‘God, God Almighty, God all sufficient, ENOUGH! And per Rabbi Meir Tamari in With All My Possessions, Judaism is a culture of Enough.(4)
            It is near impossible to suppress let alone eliminate the culturally reinforced MORE addiction imperative. Per the words of Rabbi Henoch Dov ‘you can’t get rid of shtick’ or those of an old flame ‘you can’t get rid of your insecuriorities – only manage them.’ Thus, the MOREon MORE compulsion, at best, can only be subdued and limited given 100,000+ messages of dissatisfaction (not enoughness) and if only (again not enoughness) in our culture (in advertising etc.) per year.
There are financial tools to manage subdue MORE to calculate what is ENOUGH. However, without acknowledgment that all is derivative (some would say faith) there is a tautological recycling MORE  as there is never ENOUGH to provide CERTAINTY from ‘the uncertain’ and ‘risk’ (a four letter word). Since, when the game is over, both the king and the pawn go back in the same box, essentially everything is on lease per Leviticus’ (‘this land is mine you are but wayfarers’) (5) That said, spiritual faith & acknowledgment is beyond the scope of this brief exposition.
There is a tool which we have and most fail to acknowledge (hod in Hebrew) let alone have ‘faith in’: our own adaptability and resourcefulness to, in the immortal words of Boker Bob ‘to figure it out.’
Currencies come and go. Thus, the panacea MORE of the ‘current currency’ offers no solution as it too may be devalued tomorrow. And yet, whether it be a have, a have not, a have a little want some more, a have less – each has had trials – and ‘figured it out.’ And yet we give little or no value to the our own adaptability and resourceful asset. In essence, we give little value to faith in ourselves especially those who continue to accumulate when they have more than ENOUGH often sacrificing what they need for what they don’t need.
There is never ENOUGH for one who doesn’t believe it his or her ENOUGHness (adaptability and resourcefulness) to figure it out.
With a foundation of faith in one’s beliefs and oneself, meaning IN one’s life adds perseverance as ‘when one has the WHY’ the HOW is easier such that ENOUGH becomes a connecting tool (da’at for Kabbalah fans)

As for this recovering fee only Jewish Personal Financial Life Planner it faithfullycomes down to this:

In God & Dog I Trust, all others pay cash.
 (“And,” as Rabbi Hillel stated, “ the rest is commentary.”)

CHEWish on This© & Go ‘Figure’ It Out
(Enough to Live On, Enough to Live on)

  1. In no way does this exposition devalue ‘keeping one’s word,’ let alone ‘being there’ keeping one’s commitment. Word and Being There goes to authenticity and character of one’s sense of self – which is all we take with us beyond this life.
  2. Man plans, God laughs, Dogs pee – Schwartz, professional ‘planner’
  3. Underneath in the quest for certainty is the fear of physical extinction as if that is the self – regardless of protestations to the contrary about soul – as in the IMMORTAL words of comedian Timmie Rogers, ‘everybody wants to go to heaven, but nobody wants to die.’
  4. TOWARD THE ECONOMICS OF ENOUGH (subtitle)…Judaism’s culture of ENOUGH…Rabbi Meir Tamari Update Preface (2014) to 1998 edition of With All Your Possessions
  5. The question of Owning UP to vs Ownership – being the Good Guardian (Shomer Tov) has been dealt with in previous entries.