I love my apartment. I really do.

After a deluge of rain this spring, my windows are still leaking. I tried to tell the HOA about this 2 years ago when we had a crappy representative from the property management firm. However, they’re only taking action on it now.

So now that I’m done the bathroom, I’m going to have to move out and redo the entire back wall. And if I do that, I’ll rip out the carpet and put in hardwood flooring. And when there’s money once more, I’ll have to redo the kitchen.

But since my HOA is somewhat incompetent, I will wait to do all of this until the window leakage problem is fixed. Since that’s probably not for a few months, I’ve got time to save.

Blah blah blah.

At least the flooring is something I can do myself on the weekend with a few friends.

Phew.. a lot can happen in a week

It's been a bit busy. I started my new job last Wednesday and things are going pretty good. There was actually some back and forth about how much I was going to get paid.. I talked to Top Doc on the phone who just said, come in and talk to the office manager. So I showed up Wednesday morning and he had a very fuzzy recollection of me - apparently he had gotten about 15 seconds with Top Doc who just said, she's coming. So they had not had a conversation about my salary. He says he'll talk to her, and then for the next few days, I can never find him, plus I keep shuttling between two of the offices. Finally on Thursday evening before I leave, I sent him an email listing what I wanted to talk about (salary plus a couple other things) and said if I couldn't get a hold of him I would call him. I finally got him on the phone about 2PM on Friday and he said that they'd set me at $40k. Which is fine, I told them $40-45k in the interview, and while it is a little less than I used to make, I probably would have accepted less, but it does seem like bad form to cheap out on someone who's already BEEN there three days.

Something that is definitely a bonus though is that instead of working at the main clinic, which is out in the suburbs and is about 20 minutes of highway to reach, I'll be assigned to the downtown office, which is literally about five minutes from my house. So that's pretty awesome. Unfortunately it'll be longer after we move, but definitely not bad at all - about 12 minutes, none highway. If I REALLY wanted to, I could take a bus, with only a few blocks' walk to get to the stops at each end. But that's $41 a month for the bus pass, and I don't know how much the garage pass is going to be, but unlikely to be that much, and 12 minutes drive in each direction is pretty good on gas too. I'm also excited to be downtown because it's actually in a hospital, which means there are a lot of resources (like a cafeteria, a lot more bathrooms, gift shop, etc, as well as being able to schedule tests for my patients onsite.) Downtown also has a lot of lunch restaurants and some street vendors, so I could go out and get all kinds of good stuff.

(for those who used to read regularly, yes, I do now own a car. It is a 2002 Chevy Cavalier with about 9823498 dents, which is why it was about $2700. But it hasn't required much in the way of maintenance and I'll probably drive it into the ground. Driving is WEIRD but fun.)

One really awesome bonus though is that they FEED YOU LUNCH on Mondays and Tuesdays, and sometimes Fridays. Today I actually got two lunches, because I was in the suburban office in the morning when they were passing round the menu. Apparently the drug reps pick a restaurant and we all get to choose what we want off the menu. Most people got an appetizer or dessert in addition to a meal. So I picked out coconut shrimp (which they ended up not having) and chicken parmesan with pasta. Then at about 10:30 I got a call saying that there was someone to see down at the downtown office. I am meeting with the most experienced coordinator down there frequently for training. So by then the order was already in, and I went downtown before lunch arrived. And what do you know but they had Panera boxed lunches. Five kinds of awesome. So I got Panera for lunch, and my chicken parmesan was there when I got back to the suburban office. Hooray for free lunch! I am totally going to milk that. I don't think they do the menu ordering at the office I'll be at, but free food is still awesome.

In house news, we did our inspection on Tuesday, and there are of course a few problems. The ones we were most concerned with were the wiring and the hot water heater. The house is about 100 years old, so the wiring is pretty old, but it looks like someone rewired the downstairs but not the upstairs. The upstairs is not grounded at all, and there is knob and tube wiring in the attic that is under a foot of insulation. How this was explained to me as bad is that knob and tube has nice big copper cables, which can be good because they are much thicker than wires used today, and usually enclosed in a wall with air all around them to let heat escape. So being under a foot of insulation means the heat can't escape and this is a fire safety issue. So that's bad. The other big issue is that the hot water heater's air outlet is not drafting properly. The house has two chimneys and the air is supposed to go up one of them, and it's not. This might be because the chimney is full of leaves and crap, or it might be that the chimney has collapsed internally. Who knows. Not our problem. It's a safety risk. So we asked on our request to remedy that they replace and ground the upstairs wiring, and that they fix the hot water heater so it's drafting properly and the basement doesn't fill up with carbon monoxide. That's bad. We're waiting to hear back from them probably tomorrow about what they're going to do.

We also went in early this morning and Boyfriend signed lock papers. We are locked in at 6.25% paying half a point of discount (probably covered under what the seller is paying) and given the way the markets look now, that's probably the best we'd be likely to get, even given what our mortgage person was up to. When we first met she had said 6.25% with no points, but this is acceptable given that we are putting so little down.

In completely unrelated news, I've also been spending money on clothes. This is kind of new for me, and I forgot how much I actually really enjoy having nice clothes and looking like an adult. At my last job I kind of fell into wearing the same pants every day with different solid colored t-shirts and long sleeved t-shirts, and I felt like I was starting to look my age. (this is not something you want when you are as young as I am in the professional world where people have to trust you are providing accurate, potentially life-altering decision-making information.) So I spent some time at the outlets on Tuesday and spent about $250 on clothes, and for this got six dresses, a couple tops, and some assorted other items. Went to a different store a couple days ago and spent $75 on four dresses. Kind of getting into dresses now, to some extent. But like the commercials say, feeling like a grown-up at your new job: priceless. I'm going to try to weed out some of my older, less attractive clothes and slowly turn over my wardrobe. At this point, if I can't wear it to work, there hardly seems a point in buying it since I already have plenty of t-shirts and shorts, and you can wear black pants any day. I do need to buy some black closed toed shoes that I can wear barefoot, since I a) hate pantyhose b) bought a bunch of knee length skirts and dresses and c) you can't wear open toed shoes in a hospital. So that might end up costing more than my outfit on any given day, but hey, no one said looking like a grown-up was cheap.

Start planning for your final expenses now

I know this post topic is kind of morbid, but this issue is very important. Recently, Mr. Dimes and his family had to bury his grandmother, who died suddenly but not unexpectedly right around Christmas. She had a modest funeral and burial, and her final expenses clocked in around $8,000. My mother-in-law fronted the money and will eventually be reimbursed when the estate has been settled, as the grandmother did have some real estate and other assets which could be sold to cover the expenses. Not everyone is so lucky, though.
I recently had a client whose mother died unexpectedly who was requesting over $16,000 in funeral assistance. Her mother owned no property, had no life insurance, and had done nothing to prepare for her final expenses in advance. While the client has siblings, neither individually nor collectively can they afford the costs of the burial. Their mother desired to be buried in the family plot in an area where real estate is very pricey and the burial costs are over half the cost of the funeral. I had to help a grieving client find an alternative to the burial she wanted in order to have something she could afford. This was not a particularly fun experience. Please, for the love of your survivors, do not do this to them. Plan for your final expenses now and let your family members know where they can find any information about plots, policies, final wishes, etc. Deaths are difficult enough without creating financial stress and trauma for a grieving family.

Here are a few ways to ease the financial burden on your survivors:

• Consider prepayment of funeral expenses: If you know where you want to be placed upon your death, consider buying a plot in advance, and make sure your survivors know where it is. You can also prepay for the funeral, casket, and other mortuary services rather than requiring your relatives to front the expenses at the time of your death.
• Have a life insurance policy specifically for funeral expenses: Both my client's mother and my husband's grandmother had small ($10K-$25K) whole life insurance policies to pay for their funeral expenses, but for one reason or another had let them lapse and when they died, there was no money. If, however, you make sure that you (or someone else) is paying on them and don't let the policies lapse, they can be sufficient to cover burial and funeral costs.
  
• Consider less expensive methods of body disposal: Burials are getting to be insanely expensive, and so are funeral plots. Cremation, on the other hand, is a more frugal alternative to standard burial, and is less harmful to the environment. Some people don't like the idea of cremation for religious or other reasons, but it definitely costs less. It also has the added benefit of allowing for portability of remains; for example, if you want to be buried a great distance away from where you died, ashes are much easier to transport than an intact corpse.
  
• Have a specific set of assets designated for funeral expenses: This would definitely require either a will or a joint account with a person most likely to survive you, but it could solve the problem of a family member having to front expenses and then wait for reimbursement. If you create an account specifically for funeral expenses, then a family member or the executor of your estate should be able to access those funds in order to pay for your funeral. If you're going to do this, you might as well make your wishes known as well as what should be done with any money that remains, in order to keep your relatives from donating your body to science and then flying off to Cancun with your funeral money.
  

While not fun, death is an inevitable (and expensive) part of life, and you can help your family tremendously by making provisions for what to do when it happens.

House, Senate panels back a 3.9% pay raise for 2009

The House and Senate budget panels are backing a 3.9% increase in military base pay for 2009, while the President is backing a 3.5% increase for next year. The goal of these increases is to provide for a cost of living adjustment as well as make military pay commensurate with civilian pay for similar jobs. While the increase sounds nice, it hasn't been signed into law yet, because the Congressional Budget is far from being finalized, and if you recall how the process went this past year, don't count on seeing it until February. Hopefully though, a lame-duck Congress and a lame-duck President can get their work accomplished quickly and prevent unnecessary inconvenience to military families.

Of course, we all realize that with the increasing costs of fuel, food, energy, and housing this 3.9% increase will really be a small pay cut, but that's a topic for another day.

We're Back--It's Time To Think

Ok, back at it. House is going ok, son getting married, daughter loves her job, son going off to be an air liaison officer with the army (not real thrilled with that but he does what he wants) so grabbed a few minutes and back on the air.

First thought--to succeed you got to think in this world. Most people don't. A French, yes French, philosopher said "Those who feel, think life is a tragedy. Those who think, feel that life is a comedy." Or something like that. To be successful you have to think and think hard. One guy that does is Forbes columnist Ken Fisher. If you can't afford Forbes you can find him and his staff at MarketMinder.com.

Here is one column that requires you to think, not feel. I'm probably breaking some copyright law but, hey--

Veto Power

10/4/2007

Story Notes:

• The third year of a US president’s term is usually very positive for stocks



• So far, 2007 has been a classic presidential third year with no major legislation passing into law



• With the 2008 election race revving up, congress is likely to accomplish even less in the next sixteen months

The third year of a US president’s term is simply stellar for stocks historically. Doesn’t matter who the president is, or what his agenda was—it’s great for just about all of ‘em. A president’s third year has historically been good for stocks because his party has typically lost seats in the midterm elections, leaving the country closer to legislative lock-up. A Congress split down the middle (or close to it) specializes in posturing and pontificating. But that’s about it. Stocks love when there’s little to note legislatively, preferring the status quo to government intervention in free enterprise.

MarketMinder has highlighted this theme over the last twelve months. See these past commentaries for more:

• A Presidential Popularity Contest, 7/25/2007



• A Political Punch, 5/31/2007



• Hot Fuzz, 5/17/2007

MarketMinder is agnostic to political affiliation. Donkeys or elephants, it makes little difference to us. Why? In the Beltway everyone’s a politician first and foremost. This means politicians on both sides of the aisle are out to preserve and consolidate power and get reelected. That’s always job one. Seeing politics in this way allows investors to view the landscape in a clear, unbiased way and make accurate decisions about the potential market and economic consequences of new legislation.

Thus far, this presidential third year has been archetypal. Politicians were front and center across media outlets—ubiquitously promising to take action on issues like trade with China, new taxes on private equity firms, healthcare reforms, and so on. But for all the talk, they’ve got nothing to show for it! A promise broken is the modus operandi of politicos, and we think that’s a great thing.

The Democrats are too busy drafting resolutions denouncing a radio entertainer for practicing his right to free speech to pay much attention to other issues. And let’s not forget the GOP, recently spending valuable time in Congressional session spearheading a resolution condemning a newspaper ad. Strong work guys!

The only material legislation that’s passed through both Congressional chambers recently is a $35 billion increase in healthcare coverage (for folks mostly already covered by more efficient and better private insurance). 35 billion bucks is small change for a $13 trillion US economy, so it was nothing to get excited about in the first place. But the bill was DOA—Bush vetoed it as soon as it hit his desk.

With 2007 heading toward closure and the 2008 election machine revving up, the likelihood of any big new legislation in the next 16 months is extremely unlikely. The president’s third year is the sweetest, but the fourth is historically almost as good. That’s just another positive feature to today’s stupendously benign equity environment.

Let the politicians keep expending their hot air on advertising censures and inane grandstanding—stocks will appreciate it.

Think about it. Bill

Tuesday, July 1, 2008

The Difference

Last night, a group of friends old and new gathered to celebrate the passage of time, the ritual of the 30th birthday, for two of our best party boys at the mysterious Debonair Social Club on the city's West side.

The bar, billed a "boutique video club" by a local review site, featured a curious mix of clientele, decor and wait staff. Among mash up of goth-ish goers, heavily tattooed leather fans, 80's material girls and quasi-punk lovers, my casual crowd was totally out of place. The bouncers seemed more focused on keeping people out than getting people in, and the bartenders were ridiculously rude, but for the most part, we didn't mind. Intrigued by the people watching and the strange interplay of Nirvana, Annie Lennox and Fall-Out Boy on the speakers, we spent most of the night debating whether the place was an all-out gay bar, a bar for the more dramatic theater crowd or simply an oasis for the eccentric. The videos and images on the high walls offered more than a little fodder for conversation.

Today, in thinking about a bar whose image is up for grabs, I began noticing how within my own social scene, people's images, personas and passions have changed over the last 10 years.

The fun-loving, free-sprited lifestyle of our early 20's - yet so filled with drama, tension and angst - seems to have given way to a more focused kind of existence. As some friends said good-bye early to be home with their babies, others laughed about recent stints living abroad in Europe and Brazil while others discussed career goals and other aspirations. Of course, this conversation was often punctuated by the occasional sing-along to Billy Idol and eventually became more vodka-driven than not, but still, this morning I can't help but think about the change that's occurred.

If our early 20's are all about defining our identity, determining our priorities and filtering out what we don't want in our lives, then our late 20's - for some of us, at least - are about internalizing those priorities and goals and setting in motion a path to get there.

I'm not sure how long this "setting in motion" phase lasts. But I would define it as the point in between once you finally identify what you want out of life until you actually are able to achieve it. Crap. Scratch that out. Because that sounds an awful lot like life itself.

OMG, the enormity of what I wrote just hit me...

When did we become adults?

That's the difference, isn't it. Individually, we're at different stages, but collectively, we're all officially adults now. I'm at once proud and sad.

Is that what our 20's are really about? You pay the student loans back, you learn to succeed in the nine-to-five (Ok, 8 a.m.-to-8 p.m.) world, you buy the furniture and the wall art, you adopt pets, you learn to manage your finances and live well within your means.

And somewhere in there, adulthood happens. Who knew?

Saturday, June 28, 2008

Balancing Frugality and Camaraderie - What’s Your Advice?

I received the following email last week:

I was hoping you could throw this one out to the group of readers:

I'm a relatively frugal recent college grad, working hard to save as much as I can. I left my job at Bear Stearns in April and started a new position at a small but stable financial services firm last Wednesday. The analysts on my team frequently go out to lunch, and have been inviting me each time. I went with the group on my first day, and we all paid for our own meals. I viewed that expense as part of team building rather than as the cost of a meal which I would have otherwise brown-bagged, but I am not interested in spending money on lunch more than once a week or so, and when I do spend that money I'm not terribly interested in eating with work colleagues (my wife works nearby and when she's not around I enjoy relaxing alone with a book and my food). What to do?

Thank you!

-Jay

My opinion:

I think you have to ask yourself what you have to gain by eating with your colleagues. If you're the new kid on the block, it may be a good idea to forge some relationships with your new colleagues. If the only way to do that is by eating lunch with them, then perhaps you should consider doing so once or twice a week. I definitely don't think it is necessary to eat out with them every day.

Another way to build friendship with colleagues would be to go out to lunch with one or two of them at a time. People are more likely to talk if they're not in a large group.

The main thing is to be careful that you don't become the office loner.

Now it's time for AFM readers to weigh in. What's your advice for Jay? How do you balance frugality with camaraderie?

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