IN OCTOBER, WHILE I was visiting family in California, I got a text from an old friend, Tass. He had lost his job.
Tass and I were close buddies in college, but we lost touch. After completing our undergraduate degrees in computer science, I started working, while Tass pursued a business degree. We soon ended up in different parts of the globe. Many years later, we bumped into each other at an airport. I learned that Tass had moved abroad to start his own offshore business.
A WRITER RECENTLY asked my opinion of gig economy jobs and how they could benefit retirees looking for extra income. I looked up the term to be sure my understanding was correct. It was—except we used to call the jobs “temporaries,” “part-time,” “project work” or “consulting.” As I told the writer, a gig economy job sounds pretty good for us retirees who want to keep active or supplement our income, especially if it doesn’t involve being a crossing guard.
WHEN I WAS A CHILD growing up in Ohio in the 1950s, my two best friends were Tommy and Terry. They were brothers who taught me a lot about life. When I was nine years old, they showed me how to smoke a cigarette. They also taught me what the middle finger was all about. Okay, some of this stuff wasn’t what you’d want your child to know. But they also helped me learn an important lesson about money.
WHEN I WAS a teenager, I couldn’t wait to get a summer job. Just the thought of it would give me goose bumps. Why? I could earn my own money and buy the car I desperately wanted: a two-tone 1956 Chevrolet Bel Air with a big steering wheel that looked like it belonged on a bus.
My dream was to gain some independence and drive myself wherever I needed to go. After working a number of summer jobs,
THE OLD ADAGE SAYS it’s never too late to change. Yet, once folks over age 50 decide they need to change careers, moving early has some key advantages:
It takes time. Career transitions can be slower than anticipated.
It legitimizes the move. Switching before the traditional retirement age may demonstrate your commitment to a new career.
It’s enjoyable to switch. If you know things aren’t currently working, why not make the change?
I faced my own career-change decision at age 51.
OWNING A BUSINESS comes with a unique opportunity: the chance to better the lives of your employees. The paycheck you provide helps them pay for their daily expenses and supports the local economy. But there’s an opportunity to do even more: By being thoughtful in how you structure employee benefits, you can ensure they have a more prosperous future, while also helping them lead happier lives today.
Remember, money is simply a tool to help you enjoy your life—and one way to do that is to buy time.
I WAS SELECTED IN 2015 for the “leadership pipeline program” at the major bank where I worked. It was a 10-month-long program for minority employees just below executive level. We were selected to learn all about corporate culture and what it took to advance to the next level. I felt honored to be among such talented and promising employees.
Participants were from various departments from across the U.S.—technology, risk management, operations, compliance, human resources,
FOLKS OFTEN FEEL that, because they’re a certain age, their time has passed and it’s too late for them to pursue new goals, whether it’s saving for retirement or starting their dream business. But I believe we can reinvent ourselves at any age.
Last year, I listened to an NPR podcast that featured an interview with Bob Moore, founder of Bob’s Red Mill. You’re probably familiar with Bob’s Red Mill: Their products are now sold in most grocery store health-food sections.
AS SHARK TANK STAR Lori Greiner once said, “Entrepreneurs are the only people who will work 80 hours a week to avoid working 40 hours a week.”
Got the entrepreneurial itch? When I hear people say they have a great business idea, but don’t have the money to launch their business or quit their day job, my heart sinks. They’re missing the point: In today’s world, there are countless opportunities to start a business without any initial investment.
AFTER NEARLY 50 YEARS in the employee benefits profession, there are a few conversations that stand out—and they all relate to money. What people do, or don’t do, when it comes to money never ceases to amaze me. All the stories below are true.
I received a call from a recently deceased employee’s wife, followed by a call from the same employee’s other wife, both named Mary. One was in New Jersey and the other in South Carolina,
SELF-EMPLOYED individuals, freelancers and commissioned workers all struggle with a key area of their finances: managing a variable income. When you don’t know how much you’ll make this month or this year, it’s tough to start saving. I know this all too well as a self-employed financial planner.
The uncertainty can leave you stuck, unsure which steps to take next. How can you risk putting money into long-term investments if you might need it to pay the bills a few months from now?
THE TOP COUNTRIES for gender-equal pay are Iceland, Norway and Finland, according to the World Economic Forum. As it happens, those three countries also rank among the top four countries for Gross National Happiness. The U.S. didn’t crack the top 10 on either list.
The gender wage gap is a major problem in the U.S.—and it affects all of us. Over half of American families are dual income. That means women not receiving their financial due impoverishes American families.
IF YOU’VE EVER ASKED for career advice, you were probably told to “follow your passion.” This seems like great advice. Who wouldn’t want to do what they’re passionate about every day?
The reality: What you’re passionate about may not be a viable career. I’m passionate about the game of golf. But I fell short of making it my career, despite playing collegiately.
There have been plenty of times when I’ve thought I needed to change direction.
THE GENDER PAY GAP is quantifiable. But there are also other, subtler forms of workplace discrimination that are harder to quantify, but which women face every day.
When I was part of a five-person analyst team, my manager invited everyone on the team to a poker night at his house—except me, the only female. When I asked why I was left out, he said the absence of women would make the guys feel freer to relax.
BACK IN 2002, I WAS part of a three-person financial analysis team at a major mortgage lender. I was better qualified than my two male colleagues, thanks to my master’s degree and greater years of experience. Imagine my surprise, then, when I compared my performance review with one of my colleagues. I discovered that, while we both received the same rating, he got a year-end bonus and I didn’t.
Like many women, I was aware of the gender pay gap,