After leaving big company, I joined aspiring big company, which brought several new lifestyle changes:
1. I don't travel as much (yet)
2. There's a health club in the building
3. I spend 3 hours r/t commuting
On the advice of a friend I tried very gradually exercising at home. Simple plan to exercise briefly each day.
Day 1 pushups trying to worky my way up to 150 a day in 20 pushup sets. Followed by dips (against a table or chair)
Day 2 crunches and leg lifts with similar goal of 150 in arts of 20 or 40.
I've been doing thud for 2 months and have begun to see muscle definition in chest and arm muscles. Back stengthening, too.
Unfortunately belly still there although some minor definition in upper belly. Very minor.
Seems that there is strength resistance benefit but not enough aerobic to manage weight loss.
So I joined the $60 building gym. But with long commute am challeneged to find workout time. Am wondering if i'll be able to do it.
One question is whether to go to work in workout clothes, shower after workout and change there?
Would save time, but would I actually work out or just shower somewhere else?
Regards, makingourway
Saturday, June 06, 2009
Sunday, April 12, 2009
Brief notes on our 2008 Strategy Recap
2008 was a crazy and busy year.
I was traveling almost 100% for work, we still had (and have) the other house we could not sell and work was increasingly unstable (as it was for so many others). We also had some very sick children, which made matters more difficult.
Our goals for the year were simple, minimize expenses and try to bring our spending in line with our unfortunate overhead situation.
All in all, we had net savings and by the end of the year managed to rent out our old house.
I became increasingly disenchanted with my employer and began a gradual job search.
Our new house, we had decided to minimize expenditures, which we did, however, the cost of landscaping and home swimming pool maintenance were still quite large. Inconsistent weather and equipment breakdowns with the pool led us to decide to return to professional care. I hired a landscaping company on a fixed price basis, but overall was unpleased with the quality of their work.
Our house has many appliances and core plant equipment (hvac, water heaters, etc...) that are at or past their expected life span. Although we maintain them regularly, there's little certainty as to when they'll no longer work. we replaced our water heating system. We also shifted to CF light bulbs, which seem to have a $70 impact on electrical fees per month. Wow!
To save interest rate payments as stock market returns wavered, I liquidated much of our non-retirement holdings and used the to pay down our HELOC. This was a fortunate move, as it reduced our market exposure just as the collapse was starting. Though we certainly did not follow this strategy with an eye to timing the market. By the end of the year, I maxed out our HELOC upon hearing of a neighbor who's line had been frozen by his bank. The money now sits in on-line savings accounts. My cost for flexibility is the spread.
Overall for the year, our networth had dropped 71,504.10, mostly driven by substantial declines in our investment portfolio, which had declined about $170,000. This implies we did a good job saving and (most likely) deferring expenses.
We ended the year with a networth of $637k, down from the prior year, which was about $706k.
2008 set-up 2009 to be a year of substantial change and improvement.
Regards, makingourway
I was traveling almost 100% for work, we still had (and have) the other house we could not sell and work was increasingly unstable (as it was for so many others). We also had some very sick children, which made matters more difficult.
Our goals for the year were simple, minimize expenses and try to bring our spending in line with our unfortunate overhead situation.
All in all, we had net savings and by the end of the year managed to rent out our old house.
I became increasingly disenchanted with my employer and began a gradual job search.
Our new house, we had decided to minimize expenditures, which we did, however, the cost of landscaping and home swimming pool maintenance were still quite large. Inconsistent weather and equipment breakdowns with the pool led us to decide to return to professional care. I hired a landscaping company on a fixed price basis, but overall was unpleased with the quality of their work.
Our house has many appliances and core plant equipment (hvac, water heaters, etc...) that are at or past their expected life span. Although we maintain them regularly, there's little certainty as to when they'll no longer work. we replaced our water heating system. We also shifted to CF light bulbs, which seem to have a $70 impact on electrical fees per month. Wow!
To save interest rate payments as stock market returns wavered, I liquidated much of our non-retirement holdings and used the to pay down our HELOC. This was a fortunate move, as it reduced our market exposure just as the collapse was starting. Though we certainly did not follow this strategy with an eye to timing the market. By the end of the year, I maxed out our HELOC upon hearing of a neighbor who's line had been frozen by his bank. The money now sits in on-line savings accounts. My cost for flexibility is the spread.
Overall for the year, our networth had dropped 71,504.10, mostly driven by substantial declines in our investment portfolio, which had declined about $170,000. This implies we did a good job saving and (most likely) deferring expenses.
We ended the year with a networth of $637k, down from the prior year, which was about $706k.
2008 set-up 2009 to be a year of substantial change and improvement.
Regards, makingourway
last minute thoughts before sending in your income tax returns
1. Always make sure you've matched and collected your 1098 and 1099-div/interest forms from your banks and other financial institutions. The IRS gets the same forms and if you've forgotten or missed one they'll find it via computer match and send you a letter requesting a correction.
2. Consider, if you can afford the change in free cash, an after tax IRA contribution, big earners, in 2010 will be able to convert these to roth IRA contributions without the previous earnings cap (which otherwise prohibits them).
3. Make sure you have letters or written receipts confirming your cash contributions to charities.
4. document your charitable contributions well. They can't exceed 50% of your income and contributions must be in good condition. I always create a spreadsheet detailing my contributions. information contained indicates: item, description, quantity, condition, estimated or actual market price (for new), and a link referring to a comparable item to justify the price itself. I also take photos of everything possible to prove they really exist. The charities I give to usually sign off on the sheet and give me a formal receipt.
5. If you're filing for an extension, try to estimate what you owe and send that payment with your extension, otherwise you will face penalties for a late payment.
6. Don't be afraid to use a tax professional if you have complex issues like multistate income, rental properties, family businesses and complex stock trades.
7. Always make sure you track post tax ira contributions in order to establish your cost basis - you'll need to have this documented in the future when you begin withdrawing money. You'll use form 8606.
Good luck. makingourway
2. Consider, if you can afford the change in free cash, an after tax IRA contribution, big earners, in 2010 will be able to convert these to roth IRA contributions without the previous earnings cap (which otherwise prohibits them).
3. Make sure you have letters or written receipts confirming your cash contributions to charities.
4. document your charitable contributions well. They can't exceed 50% of your income and contributions must be in good condition. I always create a spreadsheet detailing my contributions. information contained indicates: item, description, quantity, condition, estimated or actual market price (for new), and a link referring to a comparable item to justify the price itself. I also take photos of everything possible to prove they really exist. The charities I give to usually sign off on the sheet and give me a formal receipt.
5. If you're filing for an extension, try to estimate what you owe and send that payment with your extension, otherwise you will face penalties for a late payment.
6. Don't be afraid to use a tax professional if you have complex issues like multistate income, rental properties, family businesses and complex stock trades.
7. Always make sure you track post tax ira contributions in order to establish your cost basis - you'll need to have this documented in the future when you begin withdrawing money. You'll use form 8606.
Good luck. makingourway
Sunday, March 22, 2009
check out the new carnival of personal finance
MOW is included in this week's carnival of personal finance. The topic is learn the basics of personal investing. I plan to flip through it myself.
Regards, makingourway
Regards, makingourway
Wednesday, March 18, 2009
Why do i still need my blackberry?
It looks like my employer may be providing me with a company phone.
Which is certainly nice if I no longer have to file telephone expense reports.
However, what do I do with the BlackBerry I currently own?
It won't be connected to a Microsoft Exchange server for real time corporate e-mail, calendaring and contacts.
It does still connect to my other e-mail accounts, but that's about it.
No more calendar synchronization, though e-mail calendar invites do seem to show up on the BB calendar.
However, what benefit am I really receiving?
Why not go for an iPhone or something similar?
I'm thinking I pay for alot of corporate overhead that I'm not using in a BB and I miss out on the more convenient consumer features, like a much bigger screen, cool apps, etc....
What would you do?
Regards, makingourway
Which is certainly nice if I no longer have to file telephone expense reports.
However, what do I do with the BlackBerry I currently own?
It won't be connected to a Microsoft Exchange server for real time corporate e-mail, calendaring and contacts.
It does still connect to my other e-mail accounts, but that's about it.
No more calendar synchronization, though e-mail calendar invites do seem to show up on the BB calendar.
However, what benefit am I really receiving?
Why not go for an iPhone or something similar?
I'm thinking I pay for alot of corporate overhead that I'm not using in a BB and I miss out on the more convenient consumer features, like a much bigger screen, cool apps, etc....
What would you do?
Regards, makingourway
late night shopping for diaper rash ointment
I recently had to buy Desitin for one of our younger children. Desitin has the highest percentage of zinc oxide (about 40%) of all the products offered at walgreens.
Traditionally, we've slathered large amounts all over our children's nether regions. The zinc oxide seems to create a thick barrier that protects and "water proofs" there tender skin -- quickly dissipating emerging rashes and irritation.
We've tried many medicines, triple ointment, boudreaux's, etc... Desitin seems to be the hands down winner.
Although it was the least expensive by weight at Walgreens, it was still $15 for a 1 lb. jar. If I remember correctly, I was able to buy it for about $10 at Baby's R Us in the past.
I bought one jar for tonight, but i'll load up on several at baby's 'r us if the price is reasonable.
What struck me is that emergency creams, diapers, etc... available late night at the drug store are most likely to be priced like cold cereal or cigarettes at a convenience store.
I've always been one to plan ahead, but it strikes me as prudent to create a list of things you should always have stocked at home and buy them pre-emptively. Although this may be difficult in today's economy, the extra cost, might be an unaffordable penalty. What would you put on your list?
Regards, makingourway
Traditionally, we've slathered large amounts all over our children's nether regions. The zinc oxide seems to create a thick barrier that protects and "water proofs" there tender skin -- quickly dissipating emerging rashes and irritation.
We've tried many medicines, triple ointment, boudreaux's, etc... Desitin seems to be the hands down winner.
Although it was the least expensive by weight at Walgreens, it was still $15 for a 1 lb. jar. If I remember correctly, I was able to buy it for about $10 at Baby's R Us in the past.
I bought one jar for tonight, but i'll load up on several at baby's 'r us if the price is reasonable.
What struck me is that emergency creams, diapers, etc... available late night at the drug store are most likely to be priced like cold cereal or cigarettes at a convenience store.
I've always been one to plan ahead, but it strikes me as prudent to create a list of things you should always have stocked at home and buy them pre-emptively. Although this may be difficult in today's economy, the extra cost, might be an unaffordable penalty. What would you put on your list?
Regards, makingourway
Monday, March 16, 2009
a nice way to help others... make a meal
While helping a very sick family member, I was very impressed by the help their neighbors and community provided.
Often people wonder, how can I help? The family has someone ill, can we do something?
The first inclination is often transportation or errands - these are always excellent things to offer.
The second inclination is a question of money or resources, however, if the family is well insured or financially comfortable, money is not always a big need - at least right away.
The third offering, which I hadn't seen much before is help with meals. This is clearly one of the nicest and most helpful things friends and families can offer. Families caring for sick relatives find it difficult to prepare home cooked meals. The meals friends bring over restore a great degree of the normal every day routine that the family so desperately wishes to return to.
The fourth offering is money again. What can a fund raiser(s) do? If the family is financially comfortable, establishing a foundation to give money to others or to support medical research can be a great thing. Otherwise, money may be helpful in paying for expensive medical treatments that are not covered by insurance. Frequently, families know little about what is needed right away, but as things progress, treatment strategies become more clear, as do their associated expenses and insurance coverage.
Regards, makingourway
Often people wonder, how can I help? The family has someone ill, can we do something?
The first inclination is often transportation or errands - these are always excellent things to offer.
The second inclination is a question of money or resources, however, if the family is well insured or financially comfortable, money is not always a big need - at least right away.
The third offering, which I hadn't seen much before is help with meals. This is clearly one of the nicest and most helpful things friends and families can offer. Families caring for sick relatives find it difficult to prepare home cooked meals. The meals friends bring over restore a great degree of the normal every day routine that the family so desperately wishes to return to.
The fourth offering is money again. What can a fund raiser(s) do? If the family is financially comfortable, establishing a foundation to give money to others or to support medical research can be a great thing. Otherwise, money may be helpful in paying for expensive medical treatments that are not covered by insurance. Frequently, families know little about what is needed right away, but as things progress, treatment strategies become more clear, as do their associated expenses and insurance coverage.
Regards, makingourway
Saturday, March 14, 2009
what a hilarious video "are you good friends"?
I was recently watching a you tube video when my eyes wandered to "are you good friends"? I followed the recommended link and low and behold it was hilarious!
A young lady discusses her experience at clothing store where she felt compelled through verbal manipulation to buy a much more expensive gift for her friend.
How often do you have challenges with sales people when shopping?
My strong recommendation is to establish a clear understanding of what you want and what your looking to spend up front. It avoids confusion and might restrain the sales person from cross-selling and up-selling (well at least some times).
The most important tool is a strong sense of discipline - either that or shop on-line! No sales people there.
Here's a link to the video for your enjoyment.
Regards, makingourway
A young lady discusses her experience at clothing store where she felt compelled through verbal manipulation to buy a much more expensive gift for her friend.
How often do you have challenges with sales people when shopping?
My strong recommendation is to establish a clear understanding of what you want and what your looking to spend up front. It avoids confusion and might restrain the sales person from cross-selling and up-selling (well at least some times).
The most important tool is a strong sense of discipline - either that or shop on-line! No sales people there.
Here's a link to the video for your enjoyment.
Regards, makingourway
Thursday, March 12, 2009
Thoughts on what it takes to be rich in Chicago
I recently read an old blog posting from US News by Rick Newman. He published a discussion and table of what the top 20% and top 5% earned in 40 of the largest metro areas.
The article was most likely spurred by Obama's tax initiatives aimed at those families who earn more than $250,000.
I was very impressed by the great disparity of what qualified as rich <$200,000 in El Paso for families without children and >$750,000 in NYC for families with children.
Although I'm strongly against increasing taxes in general, I'll avoid a polemic here.
One thing I found is that if being rich means being in the top 5% of income earners in the Chicago area, it means your family has income of greater than $578,000 a year. While it's substantial, I do know people who earn that much and virtually all of them do not consider themselves rich.
Fundamentally, very few high income earners succeed in holding or sustaining their living expenses as their income increases. Far too many people "live up" to their incomes. I myself am far too guilty of this, as well.
Part of the problem is the stage of life when these large incomes appear. I've noticed that the younger people are (under 50), the more these incomes are absorbed in every day expenses or luxurious upgrades of the same expenses.
For me, rich does not seem to be a measure of what you earn as much as the ability to live off your savings without diminishing them. That's a very different definition of rich than annual income.
Regards, makingourway
ps, here's the link to the article and table.
The article was most likely spurred by Obama's tax initiatives aimed at those families who earn more than $250,000.
I was very impressed by the great disparity of what qualified as rich <$200,000 in El Paso for families without children and >$750,000 in NYC for families with children.
Although I'm strongly against increasing taxes in general, I'll avoid a polemic here.
One thing I found is that if being rich means being in the top 5% of income earners in the Chicago area, it means your family has income of greater than $578,000 a year. While it's substantial, I do know people who earn that much and virtually all of them do not consider themselves rich.
Fundamentally, very few high income earners succeed in holding or sustaining their living expenses as their income increases. Far too many people "live up" to their incomes. I myself am far too guilty of this, as well.
Part of the problem is the stage of life when these large incomes appear. I've noticed that the younger people are (under 50), the more these incomes are absorbed in every day expenses or luxurious upgrades of the same expenses.
For me, rich does not seem to be a measure of what you earn as much as the ability to live off your savings without diminishing them. That's a very different definition of rich than annual income.
Regards, makingourway
ps, here's the link to the article and table.
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