Today the U.S. Labor Department reported that the latest unemployment benefits dropped to a two-month low, hinting at some stability in the labor market. But no matter how you slice it, the numbers still show that 450,000 Americans are newly unemployed. Whether you have a job or not, you might be interested in reading a special report I wrote for Soundview Executive Summaries earlier this year. Just click on the link below to access the free 12-page report, where I interviewed four CEOs … [Read more...]

>The reality of the recent global economic recession is that it’s no longer vogue to live beyond your income, consuming more than you earn and be in debt. I know, I know that's a “no duh” observation. But not all debt is necessarily bad or created equal. While I would encourage everyone to pay off any outstanding consumer debt (e.g. bank credit card; retail credit accounts; auto loans…etc.) as quickly as possible there is one type of debt that I would not rush to reconcile completely. … [Read more...]

>Image via WikipediaRemember the American Express TV ads of the 1970s with actor Karl Malden that said, “American Express, don’t leave home without it!” Based on firsthand experience, that tag line needs to be updated to reflect that fact that you should never leave home without membership with the Automobile Association of America better known as AAA. My reason for this AAA affinity follows....Yesterday was our family’s first day back from a weeklong vacation out of state – no big … [Read more...]

At a recent social event for work, I overheard a conversation about the topic of retirement between a handful of “seasoned” workers. Each of these colleagues were in their 50s and agreed that they wanted to retire before the age of 65. They all believed 65 was the magic number that offered a healthful quality of life, ensuring enough time to enjoy the benefits of their golden years including their grandchildren, travel or hobbies. While a target number of 65 for a retirement age is … [Read more...]

During lunch I went to my weekly WeightWatcher weigh-in today. As background, for the past few weeks I had plateaued with very little loss on the scale, but I did notice that I lost another inch around my waist since last measurement - so I was cautiously optimistic about today's result. I'm pleased to report that I was down -4.0 lbs this week. So far I've lost 28.0 lbs since my first weigh-in back on April 7th, 2010. For the record, here's the week-by-week break down of my … [Read more...]

>All of us have ideas and all of us have fears. Usually when our ideas slam headlong into fear, our fears carry the day while simultaneously holding us back.That’s the crux of Seth Godin’s exceptional book Purple Cow, which is written as a marketing guide yet offers deep perspective about our personal brands. Let me explain…Whether you like it or not, you’re a sales person of yourself. Family, friends, co-workers, bosses and everyone else in your life relates to you based on who they … [Read more...]

>One of the fundamental principles in the field of psychiatry is that most humans are driven by a fear of loss rather than the perceived reward of gain, which means new opportunities and novel ideas are often avoided in favor of the status quo. Unfortunately, this construct of the human mindset is a recipe for financial decline when it’s rampant within a commercial organization. In the book Ideas Are Free, authors Alan Robinson and Dean Schroeder challenge managers and executives to mine their … [Read more...]

This is the final installment in this series on mortgage basics. We've looked at where to secure lending and how much that borrowing for a home can cost. This article will consider two other big pieces: the down payment and private mortgage insurance. Some lenders require 20 percent of the home’s purchase price as a down payment. However, many lenders now offer loans that require less than 20 percent down--sometimes as little as five percent on conventional loans. However, there are … [Read more...]

As stated in the first installment, be sure to get information about mortgages from several lenders or brokers. Know how much of a down payment you can afford, and find out all the costs involved in the loan. Knowing just the amount of the monthly payment or the interest rate is not enough. Ask for information about the same loan amount, loan term, and type of loan so that you can compare the information. The following information is important to get from each lender and broker: Rates Ask … [Read more...]

>This past weekend, there was a very good story in the Washington Post that stated consumer confidence was increasing, but people were still not willing to spend their money – here’s the link. http://www.washingtonpost.com/wp-dyn/content/article/2010/06/11/AR2010061106305.html?sub=ARWhen I think of “consumer confidence” I think of a single word – TRUST. Generally speaking, we either trust that things are good, ok or bad, from an economic perspective but there are several factors impact … [Read more...]