Preserving an American Resource

A funding request toward prioritizing medical research (albeit less than was hoped for) is being made by President Obama. I hope the largess extends to basic science, not just drug discoveries and testing.  He will ask Congress to allocate money for NIH, particularly related to cancer and autism. (According to Bloomberg.com the NIH provides funding for almost one third of the Nation's medical research grants). Meanwhile, Google announced that it will fund academic research into areas related to its business interests.

Uncovering the hidden wealth of this country by mining the intellects of highly educated scientists is a creative way to heal the economy.  Tapping into our reserve of brainpower leads us in a positive direction. I hope the administration is thinking outside the box as it tries to revive our inherently optimistic American spirit.  If so, this intiative could usher in an era of improved treatments for serious diseases, and that would certainly reflect well on the President.  Most importantly, it protects the scientific community from the kind of "brain drain" that occurred when many of our stem cell researchers accepted positions overseas during the previous administration.

Google is heading in a different direction, injecting research dollars into academic institutions targeting information and privacy research.  Their investment helps several outstanding universities retain their most promising graduate students.  Supporting educational and scientific institutions at a time when state and federal budget cuts are widespread, will protect an important American tradition, innovation. Corporate investment in academic centers maintains our competitve edge in the international marketplace and ensures that technology companies will have a ready supply of highly educated employees going forward.

Investing in intellectual capital attracts world class talent to our universities.  Although difficult budget decisions are currently being made, we cannot afford to stifle our richest resource,  an educated workforce. Protecting scientific endeavors channels new ideas and products to leading industries, growing our economy.  Hopefully that effort will increase profits, build corporate confidence and push companies to hire new employees.

Enabling Deliberate Deceit - the Edwards tragedy

I have been debating whether to comment on the Edwards family's sad story after seeing the 20/20 interview with new author and former campaign aide, Andrew Young.  It is another very public disgrace of a celebrity.  But even more painful, it once again demonstrates how little respect there is for the institution of marriage. 

Unfortunately, the Edwards story appeared in the media just after the Tiger Woods' infidelity saga slipped off the front page of the tabloids, and Mark Sanford's mid-life crisis was resolved by his pending divorce.  I am still confused why anyone whose career includes being followed and photographed endlessly would think reporters and hangers-on wouldn't stumble into their private life.  Why would a political candidate imagine he could hide an ongoing relationship with someone other than his wife?

The circumstance of extreme celebrity fosters denial.  Reaching a level of exceptional attention deludes individuals into believing that whatever they reach for will be theirs, whatever they say will be believed.  Rules do not inhibit them because they've seen others succumb to their wealth or fame. Words are employed by them as tools for the manipulation of others.  Of necessity, the primary responsibility of their entourage shifts into protecting them from self-destruction and combating their misguided notion that they are somehow protected from failure. 

Only an egotist could sustain a perpetual smile while participating in a complex scheme to save his career.  I don't think John Edwards believed he would ever be exposed particularly because the person he relied on to keep his secrets was convinced he had ensured his own bright future. But when the crowds dissipated, Edwards did as he pleased, unshamed and seemingly untouched by the damage his behavior would inflict on people (including Andrew Young) he said he loved.

Celebrated individuals seem to not understand that your audience believes you are as you present yourself to be.  Golf stars and politicians are not expected to be actors applauded for playing roles. They real people and are expected to be consistent, the same in public as in their private life.  They are not supposed to switch personalities when the press leaves.  In John Edwards' case, elaborate deception and cover up would wound his wife (whose compromised health and loss of a child only adds to the horror of his choice) and his children.  What if the American people had elected him unaware of his marital dishonesty and had to deal with the fall-out?

It was uncomfortable watching the last summer's television interview of John Edwards, the politician, done by Bob Woodruff.  A liar able to smile relentlessly into the camera because he was living in an alternate universe, denied allegations of fathering a child with a woman he employed to film some campaign spots.  He was not hiding the affair with Ms. Hunter to protect others, as much as he was desperate to avoid losing his chance to win at the game of political power.  John Edwards was willing to sacrifice everyone to become President, Vice President or Attorney General.  His girlfriend, meanwhile, was collecting a BMW and other fringe benefits as she waited for a chance to step in as Edwards' wife. When she announced she was pregnant Edwards' world got much more treacherous.  He rushed to solicit money from wealthy donors, dispatches his closest aide to keep "the other woman" out of reach of the press, and continues praising his wife in the arena of public opinion. Tangled in a self-woven web, Edwards would not abandon his lies even as he became more fearful of being exposed. Then, under the weight of the deceit, an anonymous tip to a newspaper ends his charade.  On a visit to see his new daughter, a child whose birth certificate does not even bear his name, the year of secrecy implodes.

The other figures in this nightmare tale seem to be heading for book signings or hiding under the privacy exceptional wealth affords.  Each participant contributed to enabling a terrible deception to go unchecked. Apparently none of the "insiders" or financial backers was concerned about whether or not John Edwards was an admirable man, worthy of high office and the trust of the Nation.  Their misplaced loyalty and money permitted John Edwards' girlfriend to be flown around the country, housed, fed and coddled until she gave birth to a child he initially denied was his.  The Youngs (the candidate's closest aide & wife) uprooted themselves to serve Edwards by hiding this woman from the press.

Were they serving a cause greater than themselves?  Were they acting with integrity?  Were they respecting the candidate's wife, a tireless and popular campaigner despite her struggle with cancer?  No, they were longing to become Washington insiders when their candidate, John Edwards eventually won office or appointment.  Sadly, they did not stop to consider the consequences of their efforts.  With self interest as their guide they focused on "the candidate" ignoring common sense, ethics and standards of decency.  They hid the pregnant girlfriend and shared her lavish lifestyle, all funded by contributions from rich donors.  They were living well beyond what they could afford as they protected the candidate's secrets. The harm stirred by rampant greed and a lack of conscience spotlights the worst in human beings.

Where was judgment or basic decency toward the woman who supported their candidate (and was extremely popular with voters) throughout his campaign?  No matter what they thought of Elizabeth Edwards personally, what twisted logic convinced them that perpetuating dishonesty would help the campaign?  More importantly, which of these individuals showed any respect for the integrity of the Office of the Presidency?  Fraudulently presenting a candidate who is not as he appears insults every American and erodes trust in the political process.

Hollywood screenwriters could not have devised a more sordid tale.  No one who participated in hiding John Edwards' character flaws and arrogance should be excused.  It was just good luck that kept our country from the potential embarrassment likely if he had he been asked to join the Cabinet.  John Edwards was surrounded by enablers of the highest order.  Disrespectful of the public, dishonest with his wife, and yet his followers believed him to be a worthy candidate for the highest office in the land? No, I would suggest this is more about protecting years of time and energy invested in one man's political talent. Essentially, the Youngs were trying to hang onto their dream at the expense of others. In the end, they helped erode respect for family and marriage. They and the donors who helped them make deception a reality, have given citizens one more reason not to trust politicians.

In the end, an innocent family (and a newborn child) was publicly embarrassed by the coverup run by a cadre of lemmings.  Their obsession with power and wealth allowed them to override rational thought and inflict harm on other human beings.  I am appalled.

Smaller House Size Attracts Builders

The building business, which got a direct shock when a luxury 2010 showhouse in Las Vegas ran short of financing, has received the message the public alone could not get them to hear:

McMansions are a massive waste of space, they're costly to heat and cool, they need communication systems if family members want to hear one another, and they have helped to dismantle the concept of a friendly neighborhood. The ripple effect of the 2009 financial downturn has forced the building community to rethink what kind of home will entice people to buy, despite this tough housing market. Builders have launched plans for attractive but smaller, space efficient, energy-efficient homes, that are more affordable and allow the preservation of trees in community open spaces.

In late 1990s we first began to hear about the tiny house and the small house described by forward thinking architects and eco-builders.  Novel though they were, they were too small and impractical for most people raising families.  Attention on downsizing grew as the public became more informed about environmental issues. Homebuyers discovered that amenities such as granite countertops, sunken bathtubs and soaring family room ceilings were so costly that eliminating them from new homes reduced costs for the builders and themselves.  Just recently, at an industry convention, organizers unveiled a 1,771 square foot home with 4 bedrooms-- the new concept home for 2010.

Prior to that, the Solar Decathalon brought together university engineering groups in Washington, DC.  It was a huge success.  Students from the U.S. and abroad presented energy efficient homes of the future all heated and operated with solar energy systems.  The public actively toured the displays throughout the competition and asked students about their display homes.  Enthusiasm for energy efficiency was heightened because of the recession.  The public attention given to this display, plus the rising cost of fuel in the U.S. made it clear that potential buyers would be receptive to energy-saving homes.

The building industry seems poised to produce homes with respect for energy costs, functionality and adequate rather than dramatic room size. Their industry is researching new products and avoiding gadgetry.  If private residences are constructed to suit modern living patterns and allow both privacy and togetherness for those who live inside, I think Baby Boomers will be interested in them, particularly if the builders highlight their low maintenance features.  A home that doesn't waste space and is made of materials that need minimal upkeep, will certainly have broad appeal.  Lower fuel bills are particularly welcome in retirement because we continue to have ongoing utility bills as long as we own property. Baby Boomers had to adjust their housing expectations since the financial downturn, and happily the construction industry shows a strong interest in addressing those changes in future construction. Some of the designs I previewed (through attached links) were amazingly retro, with front porches, side entrances and screened porches at the rear of the house.  

Deconstructing a Bad Day and More

For many of us, it may seem as if our internal wiring become frayed as we get older and we get more sensitive to stabs of sadness.  I meet lots of people now who are not themselves for one reason or another.  They say they are depressed and toss if off.  Normalizing a lingering sadness for too long gives power to a state of permanent discouragement.  The danger is, it can become an avalanche, overwhelming a vulnerable psyche.

Whenever the hopelessness of depression finds a suitable host, it digs in for the long haul, mercilessly, twisting thoughts to the dark side. Suddenly, nothing in life bears signs of likely improvement, the future appears bleak, and the smallest positive thought is intercepted and crushed.  The one thing this invader fears is forward movement in its host, because it senses the danger of positive energy.  A blast of confidence or uplifted attitude can extinguish depression's power to control, but most victims become too distraught to reverse the negative atmosphere by themselves. Challenging corrupted thoughts is truly professional work.

Know a friend who seems sad, less like themselves than usual?  Offer them your time.  Join them for walking or exercising, understanding that they probably lack the energy to motivate themselves for such an effort.  You'll have to get them started, up and out.  Feelings of being overwhelmed and unable to cope need to be respected, but they should gradually lift in a few days if they are not associated with a serious loss.             

Life experience?  Long term exposure to stress?  Chronic health concerns?  

Hopelessness can turn into self-absorbed victimhood, so it needs to be addressed right away.  If emotional pain interferes with normal life, beyond the momentary "down," changing behaviors often helps shift the mood. It is time to get psychological support if the depression begins to be about mentally replaying the same negative scenario. Depression can block rational thought so completely in anyone, that it becomes a cause of death.

Anyone can learn additional methods of coping from a cognitive behavioral therapist.  If you're someone who likes to problem solve by analyzing and is able to verbalize emotion-laden narratives, that may be your best solution.  Those who prefer a nurturing approach to problems can try relaxing under the soothing sensation of massage therapy or with the hot stones therapeutically placed by a Reiki Master.  Artists and the more introverted may find peace in returning to the beauty of natural things or doing something creative.  For those who get pleasure from pushing their body to the point of distraction, working out allows you to sweat past dismal thoughts. Dwelling on what has been lost, is now over or was ruined, will never reverse what has occurred.  Put it where it belongs...in the scrapbook of memories and walk forward.

An increase in negativity signals an erosion of that protective veneer, youthful innocence. In becoming experienced adults we become aware that there is plenty to worry about, but we soon realize that dwelling on the likelihood of future difficulties is non-productive. Ruminating takes our focus off positive happenings in the immediate present, and hurts our immune system.  Of course it's harder to recover from life's punches as we age, but the speed with which we do is one of the secrets to living longer and healthier. 

Your Portfolio is Your Friend, Introduce Yourself

Investing is not a hobby to Baby Boomers.  Once you're headed into retirement, you are keenly aware of how important it is to pay close attention to the details of your investment portfolio.  Some Baby Boomers may belatedly discover how little they understand about their own money and investing.  Missing from my many years of education was any exposure to basic economics or monetary theory.  

Like many of you,  I learned everything "on the job," highlighting a shortcoming in high school education in this country. Integrated into existing high school classwork, heightened financial intelligence is a direct path to a stronger U.S. economy. Graduating wiser spenders and savers, a new generation of skilled workers equipped to succeed in founding small businesses, would be a boost for the mainstream business community.

In the 80s, I started a small business associated with marketing.  Before I could execute my first order, I had to invest $6,000 to purchase a fax machine, computer, printer, desk and chair, order a phone line, join a professional organization, pay for postage, pay for samples, etc.  Once I secured clients, I was required by my suppliers to place orders with deposits upfront, and cover the monthly sales tax and yearly business tax for my home office.   If I didn't collect the outstanding bills via invoicing my clients, I would be burdened with carryover debt the next month.  Luckily, I grasped how important it was for me to be focused on the financial health of my company.  Starting that company gave me a swift introductory course in the rules of accounting, but did nothing to prepare me for maintaining a diversified portfolio of investments later in life.  I learned that on my own.

Retirement planning assumes you have already educated yourself on how to blend stocks, bonds, and other investments into a solid plan you can depend on going forward.  Even if you have a responsive broker, a trusted money manager or a family member with professional expertise, you need to have a basic understanding of what you want to happen to your money and have the confidence to question changes being implemented on your behalf that you do not understand.  Certainly the 2009 Madoff debacle and other horrible scams have alerted every investor that they do not have the privilege of abdicating responsibility for funds that they rely upon to provide comfort for the rest of their life.

One way to begin is to actually read the brokerage summaries you get monthly, and read, rather than toss those annual reports for the stocks or mutual funds you own.  No, they are not written in an alien language, though at first it will seem so.  Familiarizing yourself with the "buzz" words in financial documents is just the beginning,  but eventually those are the tools you need so you can compare and contrast cash flow, debt, currency risk, etc.  Knowing the vocabulary of money will make you more comfortable when questioning a financial professional.  If you understand why the companies you have invested in are in a slump, or conversely having an exceptional year, it keeps you remain more sanguine about holding a dividend paying stock during a difficult time.  Knowledge is power.

A doctor's wife who was just beginning the process of setting up the retirement finances for herself and her husband met with a money manager.  "I guess we should just put all our money into "munis," buy a couple insurance policies and move to Florida, she said to me afterward.  She was frustrated because she did not understand what this man was telling her, and felt too ignorant of the field to challenge him.  I suggested she find a new money manager, one who would talk to her with respect and explain anything she did not understand.  I also lent her some books about finance issues that I had already finished.

Investing carefully is not a black art!  Money management should be predicated on the goals of the client and tempered with the knowledge and experience of the professional they are paying to monitor their portfolio.  Years later that woman knows that "munis" are bonds which represent the loans to cities, counties, hospitals, schools and community projects (most of which are not taxable).  She has educated herself and knows that municipal bonds usually pay less than corporate bonds.  Bonds provide a stream of  income to the bond holder (interest on the debt) because they are predominantly not taxable (not in all cases), and are less liable to default.   She has come to understand that corporate bonds represent loans to corporations and historically earn higher, taxable income for the bondholders.  Assessing your income level in retirement and deciding between funds and actual bonds is something a professional can help you determine as you build a "fixed income" portfolio.  When my girlfriend and I last met, she was learning about government bonds structured for inflation, "TIPs," and told me she purchased some zero coupon bonds for her grandchild's college education.

Learn why a bond fund's purchase price and yield don't move in unison.  Find out exactly what long term vs. short term means and what causes one to rise while the other falls, even though they are both bond funds.  Understand that treasury bonds have always been considered a safe investment for retirees, but now is hardly producing any income in the short term.  Information is available on the major brokerage and mutual fund websites as well as from books by industry giants. Through my public library's online system I have access to Morningstar and Value Line both of which share quality research at no cost to me.  Portfolio suggestions for most retirees are completely different than they would be for a thirty-year-old who is years away from needing to rely on his savings.  For most of us, our risk tolerance (recovering from the ups and downs of the market) is quite the opposite.

Like everything else that is new, deciphering financial statements and reading documents that look confusing will be a frustrating effort.  Ask for help from professionals, read, do research at the library or online, and get familiar with the variety of investments that would be suitable for your willingness to accept risk in your life.  Participating in the investment decisions that are shaping your retirement plan is empowering for retirees, single or married.  And, if you have an interest in working to promote financial competence, you might volunteer to speak about the value of financial education at your local Chamber of Commerce or community center gathering.  Teach, tutor or help people do their taxes each spring. Elevating Americans' financial intelligence is an indirect, but powerful way to strengthen our country.

Baby Boomers Exploring Retirement

When the not-yet-retired think about actually retiring, they often panic about adjusting to such a significant change in lifestyle.  Suddenly, they will be depending solely on their savings and pension or social security check, they may need to build new social contacts, and could face some blank days if they don't quickly find a purpose to get up in the morning.  Meanwhile, retirees who are more than ready for that last day of work to arrive, assume all they will ever want to do is float off on a cruise or do some bass fishing.  Of course, both scenarios oversimplify the reality of retiring.

The truth is, there are plenty of leisure adventures awaiting you and lots of charities hoping to appeal to your heart and get some of your time and talent.  Some non-profit groups have suffered a drop in donations and they are eagerly awaiting the high level skills of the Baby Boomer retirees.  

It is simply a matter of finding a good match for yourself.  You can be as busy as you were when you were working, if that is satisfying to you, because volunteer opportunties abound.  However, not everything you do has to be for others.  What about working part-time at a local business, taking a class, traveling, becoming a museum docent, learning how to play an instrument or trying your hand at sculpture?  So many of us have put off personal desires while supported and nurtured our families.  

This period of life should be different, a time of taking on small challenges like a cooking class, the study of antique furniture, or working toward a certification in scuba diving--whatever we have always wanted. Joining a group that focuses on a long-time interests supports brain health, social interaction and personal satisfaction simultaneously.  Researching some of the places that send visitors to this site demonstrates that there are innumberable activities to lure a retiree.  I noticed that the traditional offerings like chess clubs, bridge lessons and golf have been expanded to include a wider variety of interests.  My guess is that the variety of leisure programming available will continue to grow as evidenced by the proliferation of inexpensive, volunteer directed, adult studies affiliated with universities all over the country.


Examples


In Don Mills, Canada I found a special photography club.  Highland Park, New Jersey has an active book club at the New Brunswick Free Public Library that is currently reading American Lion:  Andrew Jackson in the White House.  At the Museum of Fine Arts in Boston, Massachusetts you can participate in a studio art class with other adults, or participate in their weekly "Drawing in the Galleries" program;  activities most of us didn't have time for while we were raising a family and working.  For those who love the outdoors and want to challenge their bodies, the Roanoke Cycling Organization focuses on riding, racing, training and maintenance.  They have regular biking events in Roanoke, Virginia and sponsor competitions, too.


The retirees in Davis, California enjoy great weather almost all year round, so it makes sense that they would spend a lot of time nurturing their Special Olympics team.  They depend on volunteer coaches and others to run the program, but the community is very supportive.  Anyone with patience or teaching skills, a love of children or a lifelong appreciation of the values of good sportsmanship might want to get involved with a group like this. Imagine the celebrating when one of the children wins a medal! Even a small city like Lebanon, Missouri has meetings for both political parties and a Meals-on-Wheels program that depends on regular volunteers.  Leaving full-time work for retirement is a chance to reassess the way you share your time.  You get to go on a journey of exploration and can offer your best effort to groups whose work you admire.  Where will you find enough time?


Blog visitors have arrived from Melton Mowbray in Leicestershire, UK, so I checked that town for leisure organizations and discovered both the Great Dalby Cricket Club and an indoor bowling group.  Walkers who particularly like to encounter dogs and their owners, might stroll down to Melton Country Park with its 140 pastoral acres.