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How Much You Keep, Not How Much You Earn

Rich people who die with money issues tells us that spending more than you earn is risky for individuals, and for entire countries

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The tragic death of Robin Williams in 2014, who took his own life while suffering from severe depression as well as facing money problems among other things, reminds us of a truism of personal finances: it doesn’t matter how much you make in any given year, or in the span of your career.

If you spend more than you make, and do it in a hurry, you can end up as bankrupt as anyone. This last year has been particularly tough for many people and so prudent finances are more important than ever before.

Here Today, Gone Tomorrow

Yesteryear, we often read about professional athletes or entertainers who annually earned multimillions of dollars, but then, a few years out of the sport, or out of the celebrity limelight, fell into financial ruin.

Trending on PolitiCrossing.com: The Dead Do Tell Tales

How could someone raking in several million dollars a year, we thought, end up penniless? How foolish, how reckless, how wanton could people be with their money?

Today, at least among pro athletes, money managers ensure that said individual will have regular annual income for life. In pro contracts, clauses stipulate how much of an athlete’s earnings will actually be dispensed in any given year.

Hence, 15 to 20 years out of professional sports, an athlete who had been earning, say, $10 million a year will be assured of income for life as a result of effective money management. Celebrities who are wise enough to choose effective professional financial counsel are similarly aided.

Low Debt = Breathing Space

No matter how much you make, if you don’t effectively manage your money, it can all go to pot. Studies show that an inheritance, of any size, is dissipated on average within seven years. So, whether someone receives $5,000 or $500,000, on average, far too soon all that money is gone.

Being in debt is not conducive to having breathing space. In fact, it’s the antithesis. When you’re in debt, that reality has a way of dominating your day. When the next bill arrives, you think about your finances. When the next mortgage or rent  payment becomes due, the issue arises again.

Every time you write a check, or surrender your credit card to a vendor, or even take money out of your wallet, you are reminded of your tenuous financial condition.

When you’re in debt and seek to re-pay it, you tend to work longer and harder. You want to make extra money to pay down credit card balances. Living beyond your means, however exhilarating in the short run, is insidious in the long run, for people and for entire nations.

The constant drum beat in the back of your mind, “I’m not making it,” “I owe others,” and “What if people find out?’ can wear down an individual in ways that we don’t even fully understand.

Construct a Cash Flow

The fastest and easiest way to understand the state of your current as well as future personal finances is to construct a 12-month cash flow spreadsheet.

A well-constructed cash flow plots all of the incoming cash and revenue from all sources, and to the best of your ability projects all of the expenses you will be incurring. A 36-month cash flow is more ambitious and more revealing.

It’s too easy to get caught up in thinking, “I’m making a big bucks annually, and my goodness, what do I have to worry about?” The fate of rich people who die with money issues tells us that you have plenty to worry about if you spend more than you earn.

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Jeff Davidson is the world's only holder of the title "The Work-Life Balance Expert®" as awarded by the U.S. Patent and Trademark Office. He is the premier thought leader on work-life balance, integration, and harmony. Jeff speaks to organizations that seek to enhance their overall productivity by improving the effectiveness of their people. He is the author of Breathing Space, Simpler Living, Dial it Down, and Everyday Project Management. Visit www.BreathingSpace.com for more information on Jeff's keynote speeches and seminars, including: Managing the Pace with Grace® * Achieving Work-Life Balance™ * Managing Information and Communication Overload®



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Education

‘Anti-Racists’ are Racist: Do Not Apologize for Being White

‘Anti-racists’ claim that whites, by virtue of their skin color, are detrimental to society

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Ibram X. Kendri, the bigoted professor from Boston University and director of their Center for Antiracist Research, says that whiteness is a problem for all of society, indeed for the entire globe. Who knew?!

Kendri, who was included in Time’s 100 Most Influential People of 2020, seemingly knows a lot about white people. In fact, he professes to know about every white person in America if not all over the world.

Me? I’m one of those people who merely gets up every day, brushes his teeth, gets dressed, eats a decent breakfast, and goes to work. I had no inkling that in the U.S. and other western nations white people like me had been “socialized to feel that they are inherently superior because they are white.” How naive I have been all these years!

Trending on PolitiCrossing.com: The Dead Do Tell Tales

Now I discover that to be “less white” is a virtue! It requires one to be “less oppressive, less arrogant, less certain, less defensive, less ignorant,” and, more humble, more willing to listen, more willing to believe, and, get this, “to break with the apathy” that white people like me exhibit and “to break with white solidarity.”

Woke Institutions and Brainwashed Authors

White solidarity? Darn, nobody told me about this. Thank goodness it’s all become so clear thanks to enlightened (white) authors such as Robin DiAngelo, who wrote the thoroughly racist and condescending book White Fragility, and thanks to companies such as Coca-Cola which have the foresight to impose programs for its white employees, to be less white.

When there’s a challenge in front of me, I actually do strive to find the right answer, particularly something related to numbers. I will collaborate on occasion, but most of the time I prefer to figure out things for myself, aided by the “all-knowing” Internet.

Am I arrogant, oppressive,  defensive, or ignorant? No one has ever brought this up. Being white, however, I guess I can’t help it! I don’t seek to inhibit the success of others, but I’m now informed that by virtue of my skin color I am detrimental to society. Mea culpa!

The Anti-Racist Racists

With Coca-Cola and other organizations teaching white people to be less white, I’m wondering, will the sequel be how Asians can be less yellow and Indians can be less brown? In America, both groups seem to excel academically. Perhaps only domineering Caucasians, particularly 60+ white males like me, however, are the ones upsetting the apple cart all over society.

Was I given a free pass for the last 40 years? I mean, all the while nobody mentioned my whiteness as a social and cultural problem. My black friends from Little League, high school, various hiking groups, and other groups around town haven’t said squat. So, up ’til now, presumably, I was doing okay. Perhaps they’ve merely been nice to me while whispering behind my back.

Heeding the words of Dr. Martin Luther King, Jr., I thought our common goal was to live in harmony and to reach a state of color blindness where people were judged by the content of their character and not by their skin color. Hmmm…  I guess that is no longer in play.

I’m wondering, what would MLK conclude about today? Would he speak up against the propensity of the Left to define everybody else by class, sex, or race? Would he be opposed to pitting young against old, rich against poor, black against white, rural against urban, male against female, and all the other phony dichotomies that the Left relentlessly promulgates each day?

Absurd From the Get-Go

Imagine the unending uproar if someone drew up a list of how hundreds of millions of black people all over the world could become “less black.” The  absurdity of regarding all white people, hundreds of millions of them, as having a general set of characteristics, let alone having those characteristics be detrimental to society, is the grand facade of the ages.

How long will “woke” organizations maintain this illusion? Have they been coerced to the point where they’re afraid to say, “This is ridiculous, and needs to stop now”? [Actually, they have been coerced.] Will decades pass before we see the end of this malarkey?

I do not apologize for being a white person, just as no person of color has to apologize for their ethnic background, skin color, race, or religion. If you’re a good citizen who respects the rights of others, that, my friend, is sufficient.

Morgan Freeman, who played God in the movie Bruce Almighty, wishes we would do away with Black History month and merely have history. Freeman also wants us to stop regarding individuals as black and white and simply let people be people. Amen to that.

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Life

Finding Meaning in Daily Activities, Even Now

You are creating your life every day; every choice you make determines the quality of your life

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If you’re like me, each day you shudder to think what new, nation-destroying ploy, or blunder, the Biden administration will foist upon us next. In our own lives, nevertheless, while awaiting November 2022 and the chance to take back the Senate and House, we have the opportunity to find meaning nearly each day.

In her book, My Grandfather’s Blessings, Rachel Remen tells a story about a doctor who had to deliver a baby in the hallway of the emergency room area. He had delivered other babies but not like this. While swabbing the baby’s face, she opened her eyes and looked right at him: he was the first person she had ever seen.

This experience changed the doctor’s way of proceeding. He regarded this as sacred moment. He remembered why he chose this line of work. He felt validated. His cynicism fell away. He became more invigorated, more inspired, and started to interact with more of his patients and his co-workers. Soon, he was invited to events he had never participated in before. His whole world opened up.

Trending on PolitiCrossing.com: The Dead Do Tell Tales

Now, he seeks such moments constantly.

A Capacity that Builds

Finding meaning is a capacity that we build, like a muscle. When you first started in your current career position, finding meaning was not an issue. You were excited. There was so much you wanted to do. You had all kinds of plan. Then, years passed.

Little by little you became jaded perhaps. Why did I choose this line of work? Why can’t I find competent help? Why are customer or clients so demanding?

It is possible, even now in this time of turmoil, to reinvent yourself on the job, to rediscover what initially attracted you to this profession and what the current possibilities might be. Sometimes the re-awakening is triggered by attending a conference or convention, taking a course, reading a vital book, or spending time with a colleague or peer.

Goodbye to Yesterday

Today and the days that follow do not have to be extensions of what came before. You do not have to proceed into the future looking through a rear view mirror. A world of choices awaits, even if in the same old position you’ve been holding down for years.

Will you make new choices? And what will drive those choices?

Discovering or rediscovering meaning is about getting clear on what’s most important to you and aligning your choices with those priorities. It’s about living and working with intention instead of operating on autopilot or by default, where one day looks exactly like the next.

So, What Matters Right Now?

Start by identifying what’s most important to you …today, not what was important five, ten, or 20 years. Is it creativity, or perhaps collaboration? Maybe it’s impact or flexibility?

Next, identify what professional – and this might be different than your current profession! – and personal goals align with those priorities. What does living or working more creativity look like? If, say, collaboration matters to you, how can you incorporate more collaboration into the work you do?

From here, you’ll want to pinpoint actions or choices that support those goals. Where are your current choices in or out of alignment with what you’ve identified as most important? What new, more intentional choices can you make?

Each and Every Day

Consider this: You are creating your life every day. Every choice you make, action or inaction, determines the quality of your life. If not now, when: Making the choice to live and work with intention and in alignment is the key to cultivating a life of meaning and fulfillment.

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