So I recently got to participate on a panel for women…and I clearly represented the “older, wiser (allegedly), retired” demographic. The question I got was “Was there any one decision which really changed my life?”

So I know people were expecting me to talk about a decision about taking a job, turning down a job. I talked about the decision to become financially independent…which no one really talks about in the context of your career.

The fact is that one of the key goals of working is to be able to support yourself when you are no longer working.  No one really talks about that….they talk about moving up the ladder, how to be better at what you do. But ultimately, this is one of the key goals. For me, it was THE goal.

So what are some of my lessons learned?

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I read something interesting where a well known financial expert said “Spend what you need, not what you can afford.”  That resonated with me.  There’s a lot that’s been published about wants and needs. A lot of financial experts talk about the importance of distinguishing the two….take care of your needs first.  But how do you distinguish on wants?   So this twist caught my interest.

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So as you get raises or bonuses, it’s really easy to start increasing your expenses as well. After all, you can afford it. So why not get the bigger apartment, nicer car, more services….. So here’s the thing…. Continue reading →

I know, it’s been ages. But I promise you I’ve been working on how to continue the dialogue on Lessons Learned.

One pet project of mine is what I call Personal Profitability….it’s a framework, a mindset, a set of tools (excel spreadsheets) which helped me get to a place where I could get a handle on my financial health. None of it is particularly earthshattering, but I just found a huge gap between saving money and what to do next. And I just sort of stumbled through it: opening an IRA, contributing to a 401k, buying an apartment, working for 25+ years.

Looking back, there were some things I did right. There were also some things I did very wrong (Gordon Gekko was right “first lesson in business is: Don’t get emotional about stock”).  So, I’m starting a new chapter about Personal Profitability.

One note…I still think my lessons learned is relevant. Because a big contributor of financial security is the ability to perform at work. The better you perform, the more you’re valued,  the more you’re paid, and the more likely you’ll be a valued member of the team.

So stay posted….. GP