Archive for May, 2009

I recently read the most exciting article in the Baltimore Sun http://tinyurl.com/rylxt2 that sites a statistic that the number of women-owned businesses increased 32% from 2002 to 2008! That is amazing! I am a firm believer that if you follow your life’s purpose, no matter what that is, the money will follow! I am living proof of that and so are many of my clients and friends.

In my book, I write about “Crabs in a Bucket” and no, I’m not talking about a new special at your favorite seafood restaurant. If you have ever seen a crab in a bucket all by itself it can climb out of that bucket with no problem at all. Now, if you put 10 other crabs in that same bucket, you will find the other crabs trying to pull down the crab that wants to get out. My question for you is this. Who or what is your biggest Crab?

Sometimes, we are our own biggest crab and sometimes we let others pull us down. This is the first thing that popped in my mind after reading this article. How many of you out there are letting those pesky crabs get in the way of your dreams, desires and your true life’s purpose? When the little voices in your head are telling you that you can’t do something, what crab is that coming from? Your friends, family, spouse’s can only pull you down if you let them.

Budding Mompreneurs find what excites you and GO FOR IT! We have the power to change the world and the way others see us as mothers, business women, human beings. What a gift to give to our sons and daughters out there. They will grow up seeing that you can, in fact, have it all! “Dream Big or Go Home” is a common motto that I share with people and I practice this every day. Oh believe me, I have my own “Crabs in My Bucket” but I have learned to wish them well and move on to bigger and better things.

Work/Life balance is something that we all struggle with daily.  The million dollar question is “Can we have it all?”.

In work with my clients, and in my own life, I work on strategies to answer that age-old question.  Having it all boils down to one thing, owning the choices we make every day.  If we can create a safe and encouraging support system around us to balance everything that we want and have than I do believe that you can, in fact, have it all.

Finding balance in work life, family life, personal life, and our financial life is what I believe the key to having it all.  In work with my clients, I have them look at something called a “Life Navigation Wheel” which I created (email me if you would like one, I’m happy to send you one).  This wheel has them look at the different areas of life that we all have to balance and I help them find what the center of that wheel looks like.  This enables me to put together a financial road map to help them achieve the true balance in life that they deserve.

Having it all looks different to each and every one of us, but with the right strategies and support in place I believe the answer to that burning question is…YES!

The economic storm is not over, but there seems to be a light at the end of it.  Federal Reserve Chairman Ben Bernanke issued a statement saying that the U.S. economy is stabilizing and will begin to rebound later this year, but the recovery will be slow and cautious.

So what does that mean for us?  This is actually the perfect time to set your personal financial strategy so you are well positioned to obtain your goals and priorities once the market does recover.

The financial strategy process is based on you as an individual — you and your spouse, or your immediate family.  Think about your life goals.  Do you want to purchase your first home?  Are you hoping to retire in the next few years?  Once this is determined,  you should analyze your portfolio and compare it to your current personal or household strategy.   Is it aligned?  Is your portfolio consistent with the life priorities you just laid out?

Surprisingly, many consumers and financial professionals have this backwards.  They start by chasing the “best” investment, insurance and financial opportunities as opposed to chasing financial opportunities that are both “the best” and that fit their personal objectives.

You absolutely cannot build a foundation for financial success when you start with a product.  You build and maintain wealth by choosing your personal strategy first, then looking at the financial products that will best support it.

Make it a priority to set your financial strategies now so you can successfully weather this economic storm and come out on top when it stabilizes.