Good morning Dinks and happy Friday.  As you read this I am at FinCon in New Orleans – probably hanging out on the ghost tour or the swamp tour.  New Orleans has been on my bucket list for a long time so I am excited to be in The Big Easy right now.

If you’re reading this and you are also in New Orleans come by and say HI anytime.

Until we meet up, enjoy these posts from our personal finance friends:

PT Money – 10 Tips to Become an Expert Credit Card Travel Hacker without Getting Into Trouble

The Jenny Pincher – Don’t Sweat the Small Stuff

Money Crashers – 7 Factors That May Affect When You Retire – Reasons to Work Past Age 65

Wise Bread – 13 Dumb Little Purchases You Need to Stop Making Today

Money Propeller – My Experience Renting My House Out on AirBnB

Go Banking Rates – Here’s Why Your Fear of Online Banks Is Costing You Big Time

Photo from Flickr

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Good morning Dinks.  As a financial planner one of the first questions clients ask me when we start talking about their investments is “Where do you have your money?”  Of course I don’t like to talk about my own money and actually I am not allowed to.  However when you want to gain someone’s trust and invest their money you answer any and all questions they ask.

How do you invest your money?

How do you answer someone’s question without really answering it?  It’s easy, you don’t talk numbers.  Whenever clients ask me “Would you buy that investment?” I am pretty open with my clients when it comes to my investor style.  I tell them the asset classes I invest in without telling them the specific mutual funds or stocks I buy.  I tell clients I like to invest in well known companies as well as fixed income but I would never tell them that I buy Disney stocks and emerging markets bonds.  Why? Because the truth is how I invest my money is not the way that everyone should.

I am what you would call a balanced investor; I invest 60% of my portfolio in equities and 40% in fixed income.  Even my equities are not that risky.  I invest in Fortune 500 companies that have a track record of dividends and a history of profit.  I also don’t invest in foreign equities because exchange rates make me nervous.

Finance is very personal

I don’t like to take too much risk, I know I probably should take more risk because I’m young and have a lot of time until I retire – but I don’t.  The truth is I can advise people all day long how to invest their money, but it’s not necessarily the way I invest my money.

I know many people think financial planners just give cookie cutter advice just to get their fee, but that can’t be farther from the truth.  Financial planning is very personal and it depends on someone’s individual goals, income, expenses and lifestyle.  This is why it doesn’t really matter where I invest my money because the advice I give myself is not the advice I would give one of my clients, unless they had the exact same investor profile as I do.

Would you ever ask someone about their money?

I always wondered why clients ask how I invest my own money.  I guess it’s because they trust me – or they are trying to gain my trust.  The best way to tell if someone is lying to you is to ask them a tough question.  Talking about money is considered taboo so I guess that qualifies as a tough question.  Some people may find it inappropriate to talk about money, and especially to ask someone else about their own money, but since I work with money all day I am never offended.  Do you ask your financial planner how they invest their money?

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Preparing for a job loss

by Kristina on September 17, 2014 · 1 comment

396374940_f82c46b4a5_zLast week my company announced they are being sold to a competing investment firm.  My initial thought was panic but honestly I didn’t have much time to think about it until a few days later.  As you know I work as the corporate community manager so needless to say I had an incredibly busy week.  The media and investment industry were buzzing with the news release so we had to be on high alert.  It’s been five days since our CEO made the announcement  and after the initial shock aka panic wore off I had some time over the weekend to actually sit back and think about  my future.

Here’s how it all went down:

Monday @ 5 pm – All employees received an email from our CEO announcing the sale of our company.  It’s interesting to note the announcement was made after the market closed.

Monday @  6 pm – All employees were invited to a company meeting where the CEO answered questions.

Monday @ 11 pm – Needless to say social media was busy after the announcement so I was called in to work overtime monitoring for any mentions.

Tuesday @ 9 am – The market opens and our CEO announces shareholders will receive a substantial dividend thanks to the profits of the sale.  He also mentions it’s business as usual until January when the takeover will actually begin.

Tuesday @ 9 pm – Another late night monitoring and reporting social media comments, mentions and news releases to our executive team.

Wednesday – Our manager (not the department head) talked to us as a team and asked if we had any questions.  Of course everyone did!  She advised us our jobs are guaranteed until January but as of next year when the transition starts and the integration begins no one knows what will happen.

Thursday - Our manager talks to all employees one on one.  She asks how we’re feeling since the news was announced and asked what our plans are.  Some team members were honest and said they are going to start looking for a new job as soon as possible.

My manager told me she is going to wait and see what happens.  Social media is very new to my company so our team is very young; there are ten people on my team and all of us have been with the company less than two years – including my manager.

Friday – Needless to say the moral in my company is very low.  People are panicking because in three months we could all be out of a job.  Everyone, and I mean everyone, is talking about the news.  All throughout our building I’m hearing chatter about what people think will happen, what they’re going to do and how they’re going to pay their bills come the new year.

I think the fact the news was sprung on  us at the very end of the day on Monday is making everyone uneasy.  I admit it’s unsettling because I can’t help but think what else are they hiding?

Photo from Flick

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Prepare Yourself Financially Before Traveling Overseas

September 17, 2014

Are you planning a trip to travel overseas? It is important to prepare yourself financially before you leave on your journey. There are a number of things that you can do prior to leaving that will make things easier on you financially while you are on your trip. Taking these steps will help you manage […]

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Important Offshore Bank Account Considerations

September 17, 2014

When opening an offshore bank account, there are many things that must be considered. The safety of your money and the ability to access your funds when necessary should be at the forefront of your mind when deciding where to park your money. Even if you are planning on opening an account in one of […]

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Fall Foliage, Apples, and the Beach

September 15, 2014

With Summer on the way out, it is easy to succumb to a bit of a gloom; the days are getting shorter, the warm weather is receding, and family vacations are a thing of the past. However, while the sun is definitely setting earlier and the 90 degree days are mostly done, there is still […]

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How to get ahead at work

September 15, 2014

Good morning Dinks.  This week I was assigned to a new project at work.  I will be working with a team I’ve never worked with before and so far let me tell you that I’m not impressed.  As a community manager I get pulled in to a lot of different projects when people want a […]

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James Altuchier’s Ideas Out of Balance

September 14, 2014

Hi All, I got turned onto James Altuchier on LinkedIn a while back. If you haven’t heard of Altucher, he’s well worth checking out. He’s a crazy hedge fund manager from New York. The guy has published something like 11 books, runs ones of Apple’s most popular podcasts and has made something like a billion […]

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Weekly roundup: New Orleans, Pack Rats and Chores

September 12, 2014

Happy Friday Dinks.  Today starts my 10 day vacation.  Yes that’s right as of this morning I am completely work free until Tuesday September 23 and I am so excited.  What am I going to do?  Well I’m going to New Orleans for FinCon and I’m getting ready to move. Yes we finally found an […]

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