Maximizer to Satisficer When ‘More’ Actually Leads to Good Enough:

Maximizer to Satisficer When ‘More’ Actually Leads to Good Enough:

A satisficer is a pragmatic individual who makes decisions based on meeting requirements in a timely manner, finding the “good enough” solution and moving on. The word is a portmanteau of the words satisfy and suffice. Satisficing contrasts with maximizing.

          When does ‘More’ lead to Good Enough (other than temporarily after the 1987, 2008 and 2020 market severe declines)?

          In choosing something anew (for example not bought before) that of value takes time, research and analysis.

          Initially, we analyze looking for what we perceive is the best offers ‘more’ for the money – than the other choices – comparatively.

          But then after comfortable with the ‘more, better, comparatively’ choice – especially if we have ‘bought it’ more than once even when something just a bit or even somewhat of better comes along – the tendency is to stay – continue  purchasing or with the original choice – because it is good enough even if switching costs are minimized.

          Change for ‘more’ isn’t ‘worth’ it at this point of ‘good enough.’ Thus, the resistance roadblock to change – even for ‘more.’

          Thus, we go from maximizer (more) to satisficer (good enough) reinforced by either identification with the purchase and or not being wrong or just plain the alternative isn’t demonstrably better to take the time to change.

The major exception is seeking more financially (more, better, now) as a derivative tactic of acquisition thinking it will quell our belief in we Lack (Lacktose intolerance) which stems from fear of physical extinction (which one identifies as himself ). More offers palliation and or the delusion of IM-More-tality. Thus, per aforementioned sequence/ heuristic, financially,  more is never enough or enough is just ‘a little more’ to be maximized even though, financially, more better now has a habit of becoming less worse later.

(The above more (maximizer) becomes enough (satisficer) is in contrast to The Paradox of Choice: Why More Is Less (2015). by Barry Schwartz who stipulated ‘good enough’ (satisficer) was a result of ‘choice overload.’ The above more (maximizer) becomes enough (satisficer) is a factor ‘of habit, and settling reinforcing good enough (satisficing). Note: the first edition of ENOUGH was 1992, the second 1995 based on this author’s writings going back to 1975.)

‘Net Worth, Worthy, & The Worthwhile’ (Adaptability II)

‘Net Worth, Worthy, & The Worthwhile’

I’m not worthy; I’m not worthy

Alice Cooper

Worth- (of) value, merit, significance, meaning, appeal

Worthy – commendable, admirable, creditable, laudable, praiseworthy

Net worth:  a key measure of how much an entity is worth. A consistent increase in net worth indicates good financial health; conversely, net worth may be depleted by a decrease in asset values relative to liabilities.

On financial balance sheets, the net of physical and intangible assets less liabilities is classified as ‘net worth.’ And even in personal financial planning, net worth (adjusted to assets less objectives cost and liabilities) does not reflect let alone  acknowledge the following assets (increasing ‘worth’ of)

Adaptability and resourcefulness that created the assets

But what I do have are a very particular set of skills

Liam Neeson ‘Taken’

          Each of us has a portion (chalek). This portion/trait may be developed and manifested as a particular set of skills or remain unmanifested. But most have incurred in their life – at one point or another – challenges, difficulties, and in particular financial obstacles – which they have overcome and not unusually due to their ‘particular set of skills.’

          I would often ask clients or participants at my workshops:

·         Have you incurred difficulties and especially challenges at one time or another in your life.?

·         Did you have overcome those difficult situations?

Invariably every client assented and attendees raised their hands.

Yet, where on the balance sheet – the net worth statement – is this adaptability and resourcefulness – recognized let alone monetized?

Currencies come and go – get devalued – ravaged by inflation etc.

And yet, that which we possess – the adaptability and resourcefulness – which assists us in navigating these potential challenges is assigned no value other than a nod to ‘human capital’ by yackety yak’ “I want to be your best friend so I can maintain my 1% asset under management compensation even though robo advisers are now charging 35 basis points or less” financial planners.

And on a spiritual level, especially addressing those who are not only concerned with ‘outliving their money’ but as much now or moreso – seeking meaning IN their life – ‘enough to live on, enough to live for:

·         Our soul curriculum assets –  incompletions of the soul that have been completed or made the progress made toward completing

·         The good done & reflected (inside out) - guilt money, fruit of a poison tree) or for vanity (commemorations, business development and plaques – (and I ain’t talking cholesterol plaque)

And so, net worth – net worthiness is related to tangible and intangible financial assets and or assets which otherwise can be ‘monetized’ shortchanging adaptability, resourcefulness, soul curriculum assets, and the good done – only increasing dependency of on current currencies (as if there is never ‘enough’ which can come and go.

The Yips, Yipes! or Yippee?

 Yips, Yipes! or Yippee?

          There’s always a bust

There will be bear markets.

There will be spikes.

          The market was down in the following period/years:

·         1973-1974 = 43%

·         1987  = 20% down in one day!

·         2008 = 33.8%

Bear markets are typically 18 months and are characterized by a drip drip drip down. That said, however, bulls (up markets) take the stairs up while bears (down markets) take the elevator down. Thus, bear markets go down faster than bull markets go up. (Note psychological studies show it takes 4 positives to negate 1 negative).

Nominal number of spikes/declines in the stock market averages  are confused with percentage declines (especially by the parasite personal financial media pornographers).  A 400 point decline on the Dow Jones’ at 24,000 is but 1.67% - but  looks big – huge – and  the cause of investors to get the yips (heartburn optional) but a 16.7 drop (the same 1.67% decline) on a Dow Jones’ 1000 would go hardly noticed – and not require Maalox.)

The yips are an expression of ‘oh no!’, and alarm, while yipes! (holy sh*t) is an expression of fear. Yippee is a verbal manifestation of exuberance, delight or triumph

Yips escalating to Yipes! and yippee are two sides of the same ‘outside in’ coin of the realm & reign.

Outside In Tool #1 Adaptability & Resourcefulness

With money in your pocket, you are wise

and you are handsome and you sing well, too

Yiddish saying

Our balance sheets (defining ‘net worth’ as the difference between our assets and liabilities) has an asset missing (*). The asset? Our adaptability and resourcefulness that not only created & accumulated the ‘net worth,’ but, despite difficult times, overcame financial & personal  challenges  to allow the replenishing and or it’s net worth increase (to make one’s personal financial goals).

And yet, we and banks etc give no value to our adaptability and resourcefulness on the balance sheet aka ‘net worth’ – instead valuing only the effects not the cause – oneself.

Thus, this is a valuation perspective  of Outside In rather than INside Out.

And so, when the market has its inevitable spikes and bear markets – the yips and yipes! (sans Handy Wipes) take over & occupy – even spiriling into panic (escalated by the hyperbole of the personal financial pornography media). Worse, as a result, this dread may require Baby Wipes per the part of the body ‘expressing’ itself.

An exercise to possibly lower the temperature of the yips, yipes and the necessity for Baby Wipes:

Recall 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 allow you to figure it out?

And, in the future, should, for example, a devaluation occur, will it not be your adaptability and resourcefulness that will see you through 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.’

Outside In Tool #2  Ignored due to the pursuit of More for perceived LACK):

18 months preferably for cash near cash to weather the inevitable bear markets minimizing the yips, & yipes! From the  emotional reactions jeopardizing one’s personal financial planning – co  one can ‘all weather it out’ the storm

          Stipulating when I was in a fee only personal financial planner one  cardinal rule of my ENOUGH practice, writings, and workshops:

One manages goals not assets

A tactic of the above rule was to have 6 months in cash, money markets – and preferably 18 months (the typical bear market so one doesn’t make an emotional whipsaw mistake) subject the financial goals and tradeoffs thereof.

Forget 18 months – 6 months was tough enough – as there would be complaints ‘it lowers our rate of return relative to the Dow Jones, S&P.’ Again see ‘the cardinal rule.’  (Note: actually a 12 month even 6 months allowed lower deductibles for home and auto insurance coverage not to mention the savings from lowered premiums in disability coverage due to taking a longer wait period to coverage – which actually is a ‘rate of return.’)

Still even with the 18 months – most still got the yips & yipes! despite constant reminders of the 18 months will typically weather the storm. Jogging the memory relative to their adaptability and resourcefulness would often get the retort ‘this is different, I’m not young anymore, etc etc.’ Belief in the prospect of LACK rules with its LACKtose intolerance – and result: spontaneous recovery to the yips & yipes!.

          INside Out Tool #1 ENOUGH

          ENOUGH – is healing personal financial anxiety, puttin’ money in its place to align & connect again to one’s significance/assignment – what one is meant to do, meant to be- enough to live on, enough to live for – linking means with meaning.

          More is never enough. For more – enough is a little more. More is lack (fear) driven. And yet, ironically, too often, more, better, now becomes less worse later.

          More is relative– driven by external comparisons – i.e. the Dow Jones, the S&P 500 Index, etc etc – (outside in) rather than by one’s prioritized goals aligning means with meaning. More is about ‘which stock, which mutual fund, which etf etc – ENOUGH concerns itself managing the goals.

          INside Out (We’re A) Tool #2 Shaddai (as ‘enough’)

This land is Mine. You are but wayfarers on it.  Visitors to me.

Leviticus

Confidence = con(with) fidelis (faith)

Shaddai = God, God Almighty, God All Sufficient, Enough

          Despite all the aforementioned, is it not unusual to have the yips & yipes! – or at least intermittent visitation by the yips. Given man’s fear of extinction (he identifies as the physical body) he seeks permanence, continuity, and certainty through acquisition. (Note: acquisition in Hebrew is Cain as, yes, Cain and Abel). The derivative of acquisition is more (not enough) (more, more, more). Buttressed by the cultural reinforcement that more is better – the yips & yipes! have fertile ground from which to spring – regardless of enough, 18 months, adaptability and resourcefulness.

          Accepting Enough is hard enough, but acknowledging that we don’t own assets but rather lease them ‘as this land is mine’ and our role is caretaker to own UP to the assets (as a result of talents on loan from God) – is beyond difficult. After all, ‘I earned and therefore I can do what I want, when I want, with the assets’ within the law’

          This identification with the asset as ‘mine forever’ compounds the yips & dismayed yipes! during these spikes.

          Yes, we ‘earned it’ but it was God given capacities that we developed into capabilities that yielded the assets to be in our caretaking and to own UP to. i.e. Lou Ferrigno, the original Incredible Hulk, was given a large frame and body (capacity). But it was years of training, lifting etc that developed that body into the incredible Hulk. Now this writer at 140lb might have the desire to be The Incredible Hulk – but not the God given capacity to make the body into the capability of being the Incredible Hulk. (I’ll have to settle for The Merchant of Venom).

          Hashem creates – we fabricate, refine and curate.

          So where does our confidence (with faith) rest? Outside in the current currency that can be devalued (think Widmar Republic WWI and wheel barrows). Or is our confidence better placed in Hashem and our exhibited and developed adaptability and resourcefulness to lower the yips, yipes! and need for baby wipes?

          We don’t get rid of yips & yipes! but we can put them in context. And while that’s no Yippity Do Da, the yips and yipes! can be restrained to lower the frequency and temperature of the yipes and the need for baby wipes.

Yipes! Ki Yay, Bruce Willis

Seek ENOUGH(sm) in The Material: seek MORE of The Spiritual

Seek ENOUGH(sm) in The Material: seek MORE of The Spiritual

(in the spiritual)

ENOUGH (Shaddai)

                                                  seek ‘more for’

                                   less distance from Hashem (Shaddai)

                                   whereas in the material seek enough

                                                   

                     The Material More...Enough....Frugality Continuum 

‘MORE, MORE, MORE(1) -----------‘enough’------------Frugality(2)

(1 man’s floor is another’s ceiling)

“enough” may potentially integrate the material & the spiritual

(aligning means with meaning ((one’s significance-task)))

to Shaddai(*)&(3)

(*) ENOUGH(sm) Jewish Personal Financial Planing is defined as:

healing personal financial anxiety, puttin’ money in its place

to elevate, transcend, connect to one’s assignment/significance –

what one is meant to do, meant to be

enough to live on, enough to live for

re-aligning means for meaning©

ENOUGH(sm) definition

(1)    More, Better, Now has a habit (materially) of becoming less, worse, later in time

(2)     In the name of FUability, frugality has a component of fear (being under the thumb) but in the name of independence.

(3) Shaddai, in Hebrew: G-d, G-d Almighty, G-d All Sufficient, Enough! (There is no word for Hashem (G-d) of the 50+++ words and phrases that translates to 'more'

Enough in the material; MORE in the spiritual

Enough in the material; MORE in the spiritual 

Relative to this  material world, from a Judaic perspective, Shaddai is Enough (see Genesis 33). If anything, we don’t own but as caretakers – shomer tov (good guardians) – rather we are to own UP to (spiritualizing the material) remembering Leviticus ‘this land is mine. You are but wayfarers.’ Thus seeking more for more’s sake and for me, my, mine – (often sacrificing what is needed -enough & Enough ((Shaddai)) - for what is not needed) has not the unusual following outcome: more (MORE) better now becomes less worse later.

In contrast, for the spiritual, we should seek to ‘accumulate’ (even pre-mature accumulation!) MORE! Why? For closer and closer proximity connection, reconnection, continuing connection - attachment to Shaddai) as ‘enough is not enough’ in continuing to complete the incompletions of our soul in this life’s soul curriculum.

********

Per Genesis, unlike the other 5 days of creation & the one day of rest, on the second day – there was no creation. There was material separation – night from day etc.

Separation (kedosh in Hebrew which also means holy) was & is necessary for order as distinct from chaos (i.e. today’s multi moralities spun as multi culturalism, diversity, and assertions of ‘my truth’ by the likes of #metoo$ue for example.) Paradoxically, while there is the cliché – out of sight,- out of mind, separation is also necessary for closeness – as absence does make the heart grow fonder. (As one Jewiss ((how’s that for lingo of the past)) once stated, after separation per the mikvah and her period, “it’s like we are honeymooners again!”)

And yet, spiritually, we seek connection, reconnection, continuing connection – attachment rather than separation. If anything, Judaically, the concept isn’t evil per se but distance separation from Hashem. Thus, in this material life, in spiritualizing the material, we are separate for our assignment/significance – our ‘orders’ - in manifesting our spark of the divine developing our chalek (portion). And with manifesting this separation / holiness for order in this material creation, there is a furthering toward connecting, reconnecting, continuing connecting for our return reducing our distance from Hashem

In materializing the spiritual – separation for closeness and order for holiness.

In spiritualizing the material there  is narrowing of distance advancing proximity, closeness – for the homecoming of return to Shaddai – The Enough.

Enough Said

Personal Financial Anxiety: Where's The Acknowledgment? Where's The Love?

Personal Financial Anxiety: Where's The Acknowledgment?

The market a few weeks ago went down 800 points on a down 26,000 or 3.5+%

Bitching

Complaining

High anxiety

Oy vey vas mir on steroids

Woe is me

• Regardless of years & years of explaining the market on the downside drops at least two times faster and the real indicator is downs that are slow dip dip dip,
• despite cautioning not to confuse the nominal with the relative (i.e the absolute amount with the percentage) over and over and over for years,
• and finally despite former clients and friends telling me they understand Enough - and managing goals not assets -

When the market was down 2.5%+ or 800 points in one day - some of these same clients/friends were bordering on hysterical with annoying fear - calling me (retired from practice over 20 years) with their concerns - heightened by the blood in the streets commentating of the personal financial pornography media & financial planners who practice 'more, more, more'

Still obviously, my advising relative to Enough was ineffective hasn't inoculated.

It's coming to you, Mister

Who made you the center of the universe, Jimmy

my father to this then 9 year old who

was complaining about a cold hot dog at Howard Johnsons

So why - the crickets - (JIMiney's Crickets???) the silence now that the 800 points - the 3.5%+ has not only been recovered and then some with the Dow hitting an all time high today over 27,000. Where is the acknowledgment?

Because 

• The Enough of managing goals not assets has not been internalized
• Given Enough hasn't been internalized - when a stock etf etc hits a high - it's 'ours' - when it declines - something - what belongs to us - has been taken - even stolen 'how dare they' 'I'll have (and am?) less!'
• Which leads to anxiety, woe is me, stupidity - cutting off the stock, etf etc to spite the goal

Had Enough - managing goals not assets - been internalized - at the very worst the question  would have been - do I still have enough relative to each goal

more, more, more - are we all morticians?

e.e. cummings

More is a living disability when there is temporary less...

More-onitis.... wonder if there is a flu shot strain for this.

Obligations, Rights & FUability

Obligations, Rights & FUability

In the modern concept of rights developed in the seventeenth and eighteenth centuries, v  formulated as "life, liberty and property" (highjacked – jds into) or  "life, liberty, and the pursuit of happiness," rights transcend civil society, which then translates them into constitutional, civil, criminal, and property rights. In contrast, the traditional Jewish view on rights is derived from the biblical sense of the obligation of all humans to God as their creator, sovereign, and covenant partner.

Daniel Elazar

One of the so called power phrases that would resonate with my fee only personal financial planning first generation entrepreneurial closed held corporation clients when I was in practice was ‘becoming independent of their independent business.’

Why?

At first glance, it would not be surprising that 80%+ of their net worth was tied up in the business – so to have ‘enough’ required a conversion of this asset and the income from it – to passive investments to have enough and minimize the dependence of their corporation.

Now digging deeper below the surface, the quest to be independent of their independent business sequentially was in excavating

          To not be dependent

                   To not be a burden

                             For dignity & avoidance of humiliation

                                       To not be obliged

                                                To not be under any one’s thumb

                                                          To not take shit

                                                                    To have FUability

          But this sequence wasn’t particular at all to the first generation closed held corporation entrepreneur.

          Initially, when prioritizing personal financial planning objectives, it is not unusual for the goal of income replacement upon disability is ranked toward the bottom relative to the other goals of retirement, financial independence, education for the kids, income replacement for the spouse upon the client’s passing etc etc etc.

          However, when ranking – what is the payoff or what is avoided by achieving each of these goals – and reranking based not to the nake of the goal – but what is the payoff (gain) or avoidance, income replacement upon disability – unless the payoff or avoidance can be self insured with liquid assets – moves up close to the top. (Same holds true for capital depletion due to long term care costs for older clients).

          Why?

To not be dependent

                   To not be a burden

                             For dignity & avoidance of humiliation

                                       To not be obliged

                                                To not be under any one’s thumb

                                                          To not take shit

                                                                    To have FUability

         

Howdy Doody Do’s & Howdy Doody Don’ts

Howdy’s Do’s (Shoulds) and Don’ts (Should Nots) for kids

The Howdy Doody Show in the ‘50s (*)

         

We don’t wish to owe – to be owing – to be obliged. And yet, Judaically, we secure our rights by fulfilling our obligations. Furthermore, given man isn’t self sufficient but requires other people, reciprocity requires mutual fulfillment of obligations to each other. Being responsible is fulfilling our obligations – by agreement in action or stored energy (currency of past actions).

          To believers in G-d, we are given inalienable rights. Still these rights are maintained – fortified by our performing individually and as a country our obligatory responsibilities. Responsible dispatching of our obligations – what we owe – what we are obliged to – in reciprocation gains and maintains rights.

          And yet, it seems – the demanding for rights, new rights is based not on obligations in reciprocation being fulfilled but on the basis of entitlement – asserting being offended & victimized with an ever increasing shrillness & violence.

It’s coming to you?

When did you become the center of the universe, Mister?

My father, Ellis Schwartz to this writer age 9 over a cold hot dog

 at Howard Johnson’s

          Give me, buy me, take me, I deserve it – I demand it –it’s coming to me’ – it’s my right – even ‘you didn’t build it’ is the manifestation of rationalization of theft – taking without payment – avoidance of the responsibility of fulfilling obligations being obliged in the name of ‘rights.’

          The wrongs of rights.

          Obligation – being obliged – without reciprocation and or meaning – means ‘having to take it.’ Obligation as a means to meaning – sheds the imposed feeling – humiliation of being forced, compelled, coerced. Obligation in the line of meaning becomes in the call of duty.

When religion is all obligation and sans personal meaning – when the cup is more important than the coffee – 45% become religion resisters who ‘are not obliged – and ‘rightfully’ so.

When you change the way you look at things,

the things you look at change

Max Plank

Obligation is the call of Meaning

Aligning – realigning one’s means with meaning expresses/conveys the sense of grateful obligation.

Howdy Doody ‘Duty’

(*) Howdy Doody was the first nationally televised American children's TV program and a prototype for what followed. Buffalo Bob Smith hosts while the puppet, Howdy Doody, starred.