Monday, September 17, 2012

Money: Is Owning a Home Your American Dream?

Only one of about 1,000 press releases catches our eye here, like this one from TD Bank. (We came for the news but stayed for the infographic.)   A recent study by TD Bank reveals that 64 percent of women believe homeownership is essential in defining the American Dream. In comparison, only 52 percent of men felt owning a home was important. Furthermore, aspirations of homeownership are more prominent with women, with 66 percent of current female renters stating they intend to own a home in the future as opposed to 57 percent of men.

 What do you think? Is a home essential to YOUR American Dream?




Saturday, September 15, 2012

Money: It's Different for Women in Their 40s

Kevin Brosius
Today's interview is with Kevin Brosius, president of Wealth Management, Inc. He is a fee-only financial planner (which means he's not paid by an investment firm to sell their products) and investment advisor with offices in Allentown and Plymouth Meeting, Pa.

  1. By the time a woman hits 40, there are a lot of variables she may be facing financially, especially if she's dealing with a blended family, supporting a spouse, or starting over again financially. What are some of the most common financial situations you see for women in their 40s?
I used to do some work for a law firm, providing a financial overview for divorced couples after their divorce is final. 90% of those that took advantage of the session were women (average age 40-50) and overwhelmingly what I found was that most were legitimately surprised about their financial situation. I don’t think the post breakup financials for everything from current cash flow to retirement savings were properly thought out or negotiated. It can be devastating to find out that you can’t afford your home and have to move out. Another issue I see with women is their desire to pay for their children’s college in full. Even divorced women with limited resources seem to want to go down this path. That can be a huge expense and usually a very difficult strain on family finances, especially if it is a single paycheck household. First thing I tell them is don’t commit to that for your children unless your retirement is fully funded.

  2. What are the most important ways a woman in her 40s should protect her assets, even if she is blissfully coupled? Make sure you have the appropriate levels of insurance. I think many women don’t give this enough due diligence. Disability Insurance is so very important as women age (men too for that matter). We are three times more likely to be disabled than die before we retire. If your employer doesn’t provide one as part of your benefits package, get a commercial package but don’t go without it. Have enough life insurance to provide for your family should something happen to you. There are many cases where the woman is the major breadwinner for the family. Should her paycheck suddenly disappear, it would be a real hardship. Also, check out long term care policies. Take a look in any nursing home, vast majority of residents are women. This care can really drawdown assets in a hurry. Get a quote for LTC, see if it fits your budget.

 3. What are the most fair ways to arrange or split finances if one partner makes more than the other? Or should it all just go in one pot? I like the single pot approach. However, I have created budgets for remarried couples. A lot of them have some kind of arrangement like 50-50 for all household expenses, groceries, etc. Then they are on their own for autos or other activities they want to do. Seems to work for those that I worked with. As long as the arrangement is understood upfront, it’s usually OK.

 4. Anything else people should know? 
A lot of women in their 40’s don’t understand how their money is invested – like in 401ks or IRAs. They really seem to be clueless about this and that is very important to funding their retirement.

Where do you start to take control of your financial life? Read books, ask people, and you can also contact Kevin or another fee-only financial advisor through NAPFA. Happy planning!


Wednesday, September 5, 2012

Style: 40licious Women Getting Edgy with Their Hair

New York Times photo
One thing you finally learn when you're 40licious, hopefully, is where your hair can and can't go. For example, in 1982, I decided I wanted an asymetrical cut, short on one side, angled down the back, then long on the other. Which would have been on trend if I had thick, straight, shiny hair. I do not have thick, straight, shiny hair. I have very curly hair with a mind of its own. And back then the best I could do in the way of styling produts was Dippity Do that I had to sneak into our shopping cart.

When you are 40licious, you are also, hopefully, rocking your own bad self. Like a slew of women 40 and older who are filing into salons demanding cuts on the wild side, reports the New York Times.

Come on, how about a few pink tips, just to keep it fun?


Monday, August 6, 2012

Relationships: After the Worst Dates Ever, What Next?

Today's post comes from Marcy Miller, author of Rebooting in Beverly Hills, who needed to figure out what came next after being married for most of her life.


After a self-esteem damaging divorce -- my husband cheated with a younger woman and discarded me like day-old sushi -- I needed positive reinforcement that I was still desirable. Being over 40 in our youth-obsessed society also added to my anxiety. I needed professional dating help but I did not know where to turn. I kept up my active social schedule, I continued to ask friends and acquaintances to be fixed up. But dates were few and far between, and the idea of a professional dating guru became more and more attractive.

One day I happened to be talking to a friend about matchmaking services, and she told me that she had just heard about a single woman in West Los Angeles running her own private dating agency. She tracked down the cell number, and I called immediately. Harmony wanted to meet the next day at a neighborhood Starbucks to interview me. She clearly wanted to make sure that I was datable before taking me on as a client. She would not even tell me how much her service cost. I was game for a latte and a little fun. She was there early, and I felt like a model on a runway. She looked me up and down, had me twirl around and then whipped out her MacBook to show me her line-up of eligible men. I must admit, the array was very impressive. She had me pick those whom I found attractive and then read me short bios on each. It was like picking out chocolates at See's Candies. I was having a great time with no calories. The time arrived for her sales pitch. She charged $2,500 for a woman and $5,000 for a man for an annual membership, with a $5,000 premium if she made a marriage. She handed me her contract, and as a good lawyer, I changed the language so that the marriage premium was to be paid by the man. I could only hope that this clause would be used.

I wrote a check on the spot and could not wait to be introduced to one of her stable of bachelors. First, she needed a picture for her female computer line-up. She sent me to her photographer (another $200) to have some pictures taken in pre-approved venues. I was draped across the sidewalk and leaned against the back of a Porsche. It was all very contrived but I did as I was told. About two weeks later, she called with the first date. It turned out that the way she worked was to show my picture to the men and see if they were interested in meeting me. She would then send me their pictures with a brief bio -- usually formulaic. "Seth is a lawyer who likes fine dining, travel, movies, romance." I knew that I would agree to meet every person she sent. After all, she was the professional and I wanted to get my money's worth.

 The first date did not start well. He called and asked where we should meet for a drink. I suggested a well-known lounge in Beverly Hills. He said that he did not want to drive that far, and suggested another place quite far from my home. The message was clear -- I was not worth his time, and it was fine for me to brave rush-hour traffic. But seeing as this was my maiden voyage on the see of matchmaking, I acquiesced. At least he looked exactly like his picture, which wasn't bad. He ordered a glass of merlot for each of us without asking me what I liked to drink. He then droned on and on about his children, his lousy ex-wife, his golf game and the knee he injured while skiing, never once asking me a question. When I managed to interject a word into his monologue, he ignored it. Finally, I had had enough. I looked at my watch and explained that I had to leave. He stopped abruptly and told me that I owed fifteen dollars. Shocked that he expected me to pay, I slapped a twenty dollar bill on the table and started toward the door. He stayed seated, finishing his wine. As I was about to drive away, I discovered that, in my haste, I had left my sunglasses on the table and rushed inside to retrieve them. What I found was my date drinking from my half-filled, lipstick-stained glass of red wine. Instead of ordering more for himself, he was drinking the dregs of a stranger's glass.

When I arrived home, I emailed Harmony: "I will not bore you with the details, but my date was a heathen and should not be dating anyone of our species." I was beginning to worry that my $2,500 might not have been the wisest investment. As it turned out after five more equally miserable dates, I had thrown the money down the drain. My advice: Beware of matchmaking services unless you are permitted to speak with other clients who have been successful or are given one free match.

 So how do I spend my time instead? I found a new group of single friends of all ages. They have more time to spend with me and have more in common with me anyway. They give me dating advice and are more interested in girl talk and female bonding. They are looking for company at art exhibits, gallery talks, movies, lectures, spa time and even travel. They have free nights and weekends, as do I, to pursue all the fun things a great city has to offer. My new friends are fun, smart, engaging women of all ages. I also bought a pair of season tickets to the opera, symphony, and theater and invite a different new friend to dinner and a show. Now, when I bump into women from my old married life, many of whom disappeared, I honestly am grateful for the time I spent with them. But it reminds me how fortunate I am to have my new women friends -- they are now like family to me.

Monday, July 9, 2012

Spirit: Forms of Forgiveness

This tree in Duekmejian Park is called the McFall Oak. During the Station Fire a couple years ago, firefighters surrounded it while everything else burned. Now the rest of the park has forgiven the fire, and it is moving along with its life. 
We live in uncertain times. By "we," I mean we as a world, a nation, a bunch of Southern Californians, but I also mean "we" as the McGrady/Spiller household, our family. Among our major decisions these days: how do we remedy our poor choice in Ikea entertainment centers; should we move to a bigger place; and which is the best sippy cup for 1-year-old Grace. We are on type no. 4 or 5 now.

 I keep dropping things.

Today at the Armenian market I spilled some limes and an eggplant. And also, at the pharmacy while I was waiting in line holding Gracie and trying to unblock the straw from aforementioned sippy cup no. 4 or 5, the stroller tipped over backward. And then I dropped the cup. And then the baby slid out of my arms and onto the floor. She was still and quiet for a second and then wailed, turning kind of pink. I picked her up right away and bounced her and cooed to her, saying "sorry, sorry, sorry" softly in her ear.

 I'd let the woman behind me in line step in front, and she said, "no mama, you'd better go." I was moved and teary by her simple kindness, the kind you expect from friends but is so rewarding when it comes from a stranger.

Gracie stopped crying a moment later and threw her little arms around my neck, and hugged me tight, and babbled on about her day as she peeked curiously at someone (who surely has eight cats at home) reading a magazine with a magnifying glass sitting next to us.

Tonight I am thinking about forgiveness and all its forms. And how forgiveness separates us as a species from something like reptiles, or Ikea furniture. And that I will work harder to forgive strangers and the people I love.

Thursday, June 7, 2012

Style: Mixed Chicks Tell How to Rock the Hair Your Mama Gave You

Mixed Chicks are Wendi Levy and Kim Etheredge

Today we're so happy to talk to the chicks behind Mixed Chicks, a cruelty-free and vegan natural hair care brand specially formulated for multi-textured hair.

1. What is the most important thing women in their 40s need to know about their hair?
That they are stuck with what God gave them!! Actually that now that we are in our 40's there is no better time than now to take chances and wear the styles you never thought you would. If you're looking to go natural go for it. Whatever your heart desires you should fulfill.

2. Let's talk about style: What worked back in the day that won't serve us well today?
I would have to say the jheri-curl and the shaved look on the side. Now women can wear their hair in a curly style without the greasy, smelly product that can ruin your clothes and pillowcases and have curls that flow and move naturally. There are so many products on the market that can help one achieve the look for their specific curl pattern. In the 80's it was popular to shave off one's side of the head and women today were trying to bring that back. It's not really in your best interest because the waiting time for your hair to grow back in and the awkwardness of the way it looks is enough to stay away!

3. What advice does Mixed Chicks give to a woman who has a radically different look for work and for play?
Versatility Rocks!!!

BONUS GIVEAWAY: "Like" us on Facebook between now and July 1, 2012, at www.facebook.com/40licious and get the chance to win a free Mixed Chicks leave-in conditioner, perfect for your gorgeous summer hair.

Mixed Chicks offers a complete hair care line at more than 350 stores and will be expanding to more than 700 in July, including Target and target.com.

Saturday, May 12, 2012

Relationships: Learning How to Be a Mom (The Hard Way)

Today's guest post comes from Teresa Rodriguez, an Emmy-Award winning newscaster. 


As a little girl, I knew my mom would always be there for me…..whether it be waking me up to go to school, preparing breakfast and making sure I had all my books before she kissed me on the cheek and waved me off to class or buying remnants at the local fabric store to sew clothes for me so that I would have new dresses to wear.  She was my hero, a statuesque, beautiful, brunette with the tiniest waste, the longest legs and a smile that could conquer all.  She never mastered the English language, a native of Cuba, she came to this great country well into her thirties and as was the custom there, she became a housewife, taking care of my older brother and me, while our dad worked as a busboy at a popular South Florida hotel.  We grew up in a lower income neighborhood, but our memories were always happy ones….now I realize how difficult it must have been to make ends meet, but by the look on her face, you would never have guessed it.  In fact, she turned our rented home into a shelter for others arriving from the Communist island – offering them free room and board until they were able to afford a place of their own, often times, serving herself the smallest portion in order to make sure the children ate first.  Some of these “families” became an extension of ours.  Somehow, despite our limited resources, she managed to feed anywhere from 4 to 10…every night.

She never got beyond an eighth-grade education which is why she wanted me to go to college, to get an education and to explore the world.  Although I helped her with household chores, she always explained that I would have ample time to learn the basics of cooking and cleaning, but an education came first.  Her words became my impetus for achievement.  Four years after my high school graduation, I became the first one in my family to obtain a college degree and move on to a very successful career as a Spanish language news anchor, broadcast journalist and author.  

Unfortunately, breast cancer claimed her life before she was able to witness any of these milestones.  Today, as I write this tribute in her memory, I think back to how she always wanted a better life for me, how as a struggling immigrant herself, she gave of herself and what she didn’t have to total strangers and how, despite her failing health, her positive outlook and incredible disposition never waned.

Little did I know that I would become a widow in my early forties, raising two boys by myself, then 10 and 15, while working full time in a very demanding field which included traveling at the drop of a hat and where the forty hour work week is unheard of.  It wasn’t until that moment, nearly ten years ago, when my husband died suddenly of a massive heart attack, that I found myself mimicking my mother’s actions.  I recalled her smile and as I held on tightly to my boys, I reassured them that we would get through this.  Her example was etched in my mind and heart.  She had given me the strength and conviction that I would later use with my own children.

Today, those boys are men – one is a sports anchor at a Miami television station and the other will be a junior at the University of Michigan this coming fall, where he will most likely continue on to law school.  They are not just my sons, they are my best friends. I know she would have been very proud of what her grandchildren have become.  Somehow they, too, are fulfilling a part of her dream.

There isn’t a day that goes by that I don’t think about my mom, her examples and her smile.  She created a strong, independent, hard-working woman with a generous heart and an optimistic outlook on life.  I’d like to think that someday my kids will have those same memories of me and hope my example will leave an imprint on their lives, above all may they never forget the power of love, the power of a smile and the power of a mother.