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Back in the early nineties, I wrote a book called, RETIREMENT READY OR NOT: How to Get Financially Prepared in a Hurry (Career Press). At the time, the news was filled with reports of corporations folding, downsizing or merging, forcing employees all over the country to accept early retirement long before they expected.

Unlike all the other experts of the Trusted Expert Network, I am not a personal finance, investment, tax, retirement or long term care expert. I am, however, a taxpaying citizen who has thoughts on the economic stimulus package that was just passed by the House and is now moving to the Senate.

You know the drill. New Years is approaching and that means making your resolutions to improve on everything that didn’t go as planned. This year, however, we’ve all gotten a huge wake- up call and the need to regroup is far more urgent because our finances were so affected by the economic collapse. In addition, much of what we thought we knew about investing, saving and planning ahead has been redefined. Of course we still have to make sensible decisions, including reigning in expenses, but here are some ideas on how to approach the coming year to help you become more fiscally fit.

When you ask the man on the street about the most memorable time in history he lived through, you would expect an answer like the tragedy on 9/11/2001. Perhaps their second most memorable will be the economic collapse we are witnessing.

For Wall Street, the unprecedented events in the financial world this week have put in perspective by a hardened world. The news over these last few weeks has reshaped the financial services industry forever. Major firms like Lehman Brothers went bankrupt while others like Fannie Mae,Freddie Mac and AIG wound up in government hands. While huge banks like WAMU were merged into stronger banks like JP MORGAN CHASE. Whose left?

This week congress is expected to again revise a bill to help bail out and re-capitalize our financial system. Newspapers throughout the world report of similar collapses of foreign banks.

While these events could sink our economic system I am hopeful it will instill in all of us the great survival we all witness during the 9/11 tragedy. The best and the brightest will emerge with new ideas and solutions will come.

This is the beginning of a long process of recovery but, each day many of these revelations have been swiftly handled with the result stronger bonds that will be harder to break the next time.
We will follow these events closely and comment further over the next few months. Keep in touch and let us know whats on your mind.

It’s time to make a decision as election time is here and near. If you’re like me, the last eight years have caused you a few sleepless nights or perhaps many. Now my recent concerns for my financial planning clients have reached high alert as banks and financial institutions have begun to erode. Not good by any means. Each of us have our own list, health care tax reform the budget deficit a slowing real estate market or even just the survival question of getting a job. This election to me must be about more than a great speech or a catchy one liner it must be carefully drafted answers to these seemingly overshadowing problems.