A friend of mine once hired somebody based on the fact that he listed one of his resume skills as "trimming celery", from his stint working in a grocery store.
I'm pretty sure trimming celery didn't have anything to do with the job he was hired for, but it demonstrated a dry sense of humor and willingness to take on new challenges. At the very least my friend was curious enough about anybody who would put that on their resume to give him an interview and see what he was like!
Depending on the job and the industry, humor in a resume might not fly, but for this guy it did!
Great point. Although I'm fairly young, I've had enough experience in witnessing people being selected to positions to realise that the best and most qualified person does not necessarily get the job. More times than not it comes down to things that have nothing to do with a candidate's skills.
It's probably why you will rarely get an honest response from an employer if you ask them the reasons why you didn't get hired. Usually they do not know the real reason themselves...or they don't acknowledge it. No employer is going to say "You weren't hired because the other candidate had a Dutch wife."
Here's a synopsis/book report of the Babcock & Leschever "Women Don't Ask" I bought read this awhile ago when I began negotiating salaries w/ my employees.
THAT is the real problem. It's too easy to become a financal advisor - all you need is a self-study course and basically you are ready to "advise". The CFP in my opinion is too easy - the text books should be used to teach personal finance in high-school and college.
I think that if advisors were required to have the CFA, the industry would me much better off - as would investors.
I disagree that 99% of people can do it on their own - they cannot. I have yet to meet someone who has it ALL figured out. While there are lots of people who do a better job than their advisors can, there are numerous people who use an advisor for the same reason you hire a landscaper - it's not that they can't do it themselves, they just can't be bothered or don't have the time.
I'm kind of in the same boat as ScottMGS's friend...all of the financial planning jobs I have applied for have turned out to be commission-based. In every interview, it was made quite clear that I would be responsible for selling x-number of products or I would be fired. I asked, "What if my clients don't need your products?" The answer was, "Well, you'd better figure out a way to make them need our products." Needless to say, I stopped applying for financial planner positions. I refuse to sell products...especially products that I don't agree with. I tried finding work as a fee-based financial planner, but those jobs were for people who had been in the industry for 10+ years and who had paid their "dues" (i.e. they had sold financial products).
I work as a financial counselor now with a non-profit organization, but it's not really what I want to be doing. I craft debt-management plans for clients, but this doesn't utilize my full body of knowledge. So, I'll be retraining to be an Accountant.
Anyway, I'm now a little bit jaded by financial planners. Where I live, almost all of the financial planners are commission-based. I sort of agree with Shawn -- the average person does not need a financial planner. If you just take a little bit of time to educate your self about IRAs, Mutual Funds, other investments, insurance, etc... then you can "pay" yourself to handle your own finances. If you are going to have a financial planner, you should really ask yourself, "Why is this person trying to sell me this product? Do I really need this product." I've talked to so many smart people who are carrying way too much life insurance or who are paying too many fees on an investment because their financial planner told them it was the "right" thing to do.
This reminds me of some thoughts I have on organization. Some people enjoy organizing things for the sake of organization. They like things clean and clear and orderly.
I use organization only as a tactic. I don't really enjoy doing it, but I like having it done because then I have room to do things and I can easily find things.
I once watched a new employee throwing things away, because she didn't know what they were, in order to organize her new office. When I asked, she told me that only once had she ever had to figure out a way to get one of those things back. That is a person who organizes as a goal. I could never, ever do that.
So perhaps some people enjoy activities associated with frugality such as bargain hunting, making things themselves, and maximizing efficiency, so they will always do those things even they could also achieve their (other) goals in nonfrugal ways.
For myself, I see frugality as a tactic. In answer to Annika's question, my goal is freedom. I want the freedom to leave a job I don't like, to take advantage of a time-sensitive opportunity (like visiting my sister during the three years she lived in a foreign country), to not have breakdowns or other bad financial surprises be devastating, etc.
In answer to your question, my standard of living would increase if I won the lottery (uh, after someone gave me a winning ticket). I would quit working, move to a bigger house, and hire someone to maintain the lawn. At my current income and savings levels, quitting, moving to a larger house or hiring gardeners would not be worth the sacrifice--although I want to retire, I would rather live indoors. Although I want a larger house, I would rather have hobbies.
I have a friend who was trained as a financial planner. She was in it to help people work with money properly to attain their dreams. It turned out that all the jobs she could find were commission-based sales jobs. She had to sell the kind of "products" (still a fishy word in finances, to me) that her company made the most money on regardless of whether they were good for the client!. Needless to say, she quit and retrained as a software engineer.
When I first opened my business, I met with a close friend (an attorney) who advised me that I needed to consult with four professionals before I did anything else: a corporate attorney, an accountant, an insurance agent, and a personal banker. Of the four, I spend the most time with my personal banker, and I don't know what I'd do without her. It helps to have someone who can give me advice that actually works for someone in thier mid-twenties, who is unmarried and childless. I don't have the same needs as a married couple with kids, and I wouldn't trust anyone who suggested I should accept an investment strategy designed for such.
If you find yourself talking to anyone who tells you they have a one-size-fits-all, works-flawlessly-for-everyone-regardless-of-circumstances plan for your finances, run as far away as you can, as fast as you can.
I wrote a response to this on my blog. To me frugality means trying to find value in exchange for your money or other resources. This is a worthy goal, and a responsible one. No Impact Man can really answer this for you. He has a blog post about changing the rhetoric of environmentalism that you might want to look at.
I, personally, am really glad that I recently found a financial planner. My income is well under 7 figures (unless you count my blogging income, which comes in the form of a dump truck full of cash that is deposited in front of my house every other day), but regardless, I still needed help sorting out what to do with my money. I've figured out a lot of ways to save money, but not a lot of ways to make my savings work for me.
See, not everyone understands index funds. Not everyone knows what kind of life insurance they need. Not everyone can afford a house (but this doesn't mean that they shouldn't plan for the future). Not everyone HAS kids. Financial planners can help you sort out the best ways to reach your goals. Sure, maybe some people figure it out on their own, but there's nothing wrong in seeking help when you need it.
You're advice is spectacularly bad. First of all you're a financial planner! Of course you think everyone needs a financial planner. Second you should never use anything but a fee based planner, if you insist on using one. Using a commissioned planner is foolish. Third 99% of people have no need for a financial planner. When your net worth is under 7 figures personal finance is very simple. Invest in index funds, buy some term life insurance, buy a house on a fixed-rate mortgage, put some money in a high-ranked 529 plan for your kids' college if necessary, and spend less than you make.
Thanks a lot for the information on asking for financial assistance. My husband just suffered a heart attack. Who knows how much this is all going to be. I cannot even imagine. We do have insurance, but pays VERY little. I am really hoping and praying that our hospital offers this, as it sure would be a BIG weight off of our shoulders right now.
Maybe the idea is that you can get something for your teen-aged daughter but ALSO get something (something lame, but still...) for your somewhat younger son?
Frugality is a goal in that the more frugal you are, the more money you save in the long run while enjoying those things important to you. People often mix up frugality and tightwaddery - a tightwad will buy the cheapest washing machine, while a frugal person will buy the washing machine that will have the lowest total cost of ownership over the next twenty years or so.
A friend of mine once hired somebody based on the fact that he listed one of his resume skills as "trimming celery", from his stint working in a grocery store.
I'm pretty sure trimming celery didn't have anything to do with the job he was hired for, but it demonstrated a dry sense of humor and willingness to take on new challenges. At the very least my friend was curious enough about anybody who would put that on their resume to give him an interview and see what he was like!
Depending on the job and the industry, humor in a resume might not fly, but for this guy it did!
Great point. Although I'm fairly young, I've had enough experience in witnessing people being selected to positions to realise that the best and most qualified person does not necessarily get the job. More times than not it comes down to things that have nothing to do with a candidate's skills.
It's probably why you will rarely get an honest response from an employer if you ask them the reasons why you didn't get hired. Usually they do not know the real reason themselves...or they don't acknowledge it. No employer is going to say "You weren't hired because the other candidate had a Dutch wife."
I really enjoy your articles Philip.
Hi, I am from the the U.K and can you tell what jet dry is? is it a cleaner or a rinse,like a streakfree agent....
thanks.
paul from suffolk(constable country).
Here's a synopsis/book report of the Babcock & Leschever "Women Don't Ask" I bought read this awhile ago when I began negotiating salaries w/ my employees.
http://davidcatalano.com/business/books/women-dont-ask
Anytime I hear advice that starts with "Everbody needs..." I completely ignore the rest of what the person has to say.
Make sure not to give your Dutch Wife a Dutch Oven!
(sorry I couldn't control myself)
THAT is the real problem. It's too easy to become a financal advisor - all you need is a self-study course and basically you are ready to "advise". The CFP in my opinion is too easy - the text books should be used to teach personal finance in high-school and college.
I think that if advisors were required to have the CFA, the industry would me much better off - as would investors.
I disagree that 99% of people can do it on their own - they cannot. I have yet to meet someone who has it ALL figured out. While there are lots of people who do a better job than their advisors can, there are numerous people who use an advisor for the same reason you hire a landscaper - it's not that they can't do it themselves, they just can't be bothered or don't have the time.
I'm kind of in the same boat as ScottMGS's friend...all of the financial planning jobs I have applied for have turned out to be commission-based. In every interview, it was made quite clear that I would be responsible for selling x-number of products or I would be fired. I asked, "What if my clients don't need your products?" The answer was, "Well, you'd better figure out a way to make them need our products." Needless to say, I stopped applying for financial planner positions. I refuse to sell products...especially products that I don't agree with. I tried finding work as a fee-based financial planner, but those jobs were for people who had been in the industry for 10+ years and who had paid their "dues" (i.e. they had sold financial products).
I work as a financial counselor now with a non-profit organization, but it's not really what I want to be doing. I craft debt-management plans for clients, but this doesn't utilize my full body of knowledge. So, I'll be retraining to be an Accountant.
Anyway, I'm now a little bit jaded by financial planners. Where I live, almost all of the financial planners are commission-based. I sort of agree with Shawn -- the average person does not need a financial planner. If you just take a little bit of time to educate your self about IRAs, Mutual Funds, other investments, insurance, etc... then you can "pay" yourself to handle your own finances. If you are going to have a financial planner, you should really ask yourself, "Why is this person trying to sell me this product? Do I really need this product." I've talked to so many smart people who are carrying way too much life insurance or who are paying too many fees on an investment because their financial planner told them it was the "right" thing to do.
This reminds me of some thoughts I have on organization. Some people enjoy organizing things for the sake of organization. They like things clean and clear and orderly.
I use organization only as a tactic. I don't really enjoy doing it, but I like having it done because then I have room to do things and I can easily find things.
I once watched a new employee throwing things away, because she didn't know what they were, in order to organize her new office. When I asked, she told me that only once had she ever had to figure out a way to get one of those things back. That is a person who organizes as a goal. I could never, ever do that.
So perhaps some people enjoy activities associated with frugality such as bargain hunting, making things themselves, and maximizing efficiency, so they will always do those things even they could also achieve their (other) goals in nonfrugal ways.
For myself, I see frugality as a tactic. In answer to Annika's question, my goal is freedom. I want the freedom to leave a job I don't like, to take advantage of a time-sensitive opportunity (like visiting my sister during the three years she lived in a foreign country), to not have breakdowns or other bad financial surprises be devastating, etc.
In answer to your question, my standard of living would increase if I won the lottery (uh, after someone gave me a winning ticket). I would quit working, move to a bigger house, and hire someone to maintain the lawn. At my current income and savings levels, quitting, moving to a larger house or hiring gardeners would not be worth the sacrifice--although I want to retire, I would rather live indoors. Although I want a larger house, I would rather have hobbies.
I have a friend who was trained as a financial planner. She was in it to help people work with money properly to attain their dreams. It turned out that all the jobs she could find were commission-based sales jobs. She had to sell the kind of "products" (still a fishy word in finances, to me) that her company made the most money on regardless of whether they were good for the client!. Needless to say, she quit and retrained as a software engineer.
Thanks for the info, Guest. You mademe reevaluate the current battery market.
Still, I'm talking from a military standpoint where you have to have batteries, right now, so you walk into Wally-World with the unit MPACT card.
Or anyone else, of course, who maybe can't wait for an order to arrive.
Thanks, everyone, for the thoughful comments. This is a topic where I'm still groping toward an answer, and your comments have helped.
When I first opened my business, I met with a close friend (an attorney) who advised me that I needed to consult with four professionals before I did anything else: a corporate attorney, an accountant, an insurance agent, and a personal banker. Of the four, I spend the most time with my personal banker, and I don't know what I'd do without her. It helps to have someone who can give me advice that actually works for someone in thier mid-twenties, who is unmarried and childless. I don't have the same needs as a married couple with kids, and I wouldn't trust anyone who suggested I should accept an investment strategy designed for such.
If you find yourself talking to anyone who tells you they have a one-size-fits-all, works-flawlessly-for-everyone-regardless-of-circumstances plan for your finances, run as far away as you can, as fast as you can.
I wrote a response to this on my blog. To me frugality means trying to find value in exchange for your money or other resources. This is a worthy goal, and a responsible one. No Impact Man can really answer this for you. He has a blog post about changing the rhetoric of environmentalism that you might want to look at.
Hey, Barbara,
I hadn't heard anything of the sort, and have never been asked to show insurance at the border - let us know how it turns out?
I, personally, am really glad that I recently found a financial planner. My income is well under 7 figures (unless you count my blogging income, which comes in the form of a dump truck full of cash that is deposited in front of my house every other day), but regardless, I still needed help sorting out what to do with my money. I've figured out a lot of ways to save money, but not a lot of ways to make my savings work for me.
See, not everyone understands index funds. Not everyone knows what kind of life insurance they need. Not everyone can afford a house (but this doesn't mean that they shouldn't plan for the future). Not everyone HAS kids. Financial planners can help you sort out the best ways to reach your goals. Sure, maybe some people figure it out on their own, but there's nothing wrong in seeking help when you need it.
... I stop paying attention. I mean, c'mon.
It's ante.
"All companies are dysfunctional"
It's difficult to take anything that follows too seriously.
You're advice is spectacularly bad. First of all you're a financial planner! Of course you think everyone needs a financial planner. Second you should never use anything but a fee based planner, if you insist on using one. Using a commissioned planner is foolish. Third 99% of people have no need for a financial planner. When your net worth is under 7 figures personal finance is very simple. Invest in index funds, buy some term life insurance, buy a house on a fixed-rate mortgage, put some money in a high-ranked 529 plan for your kids' college if necessary, and spend less than you make.
Thanks a lot for the information on asking for financial assistance. My husband just suffered a heart attack. Who knows how much this is all going to be. I cannot even imagine. We do have insurance, but pays VERY little. I am really hoping and praying that our hospital offers this, as it sure would be a BIG weight off of our shoulders right now.
It sure does and with coconut and peacans total delish.
When every I have to bring a dessert this the one I get ask to bring the most.
However, I have to go with my gut on this one. They were getting rid of old junk. Anyone from the marketing department of Paramount out there?
Maybe the idea is that you can get something for your teen-aged daughter but ALSO get something (something lame, but still...) for your somewhat younger son?
Frugality is a goal in that the more frugal you are, the more money you save in the long run while enjoying those things important to you. People often mix up frugality and tightwaddery - a tightwad will buy the cheapest washing machine, while a frugal person will buy the washing machine that will have the lowest total cost of ownership over the next twenty years or so.
Why a Transformers beach ball? The beach ball transforms from a flat piece of vinyl into (ta-da) a bouncy sphere!
Why a Transformers beach ball with the movie "Clueless?" Given name of the movie I think it's a perfect match.