This Week In Your Wallet: Your Most Important Asset Is Your Job
Did I ever tell you I once interviewed for a job with Woody Allen? It’s true. He was looking for a new assistant and I was in between gigs. A friend of a friend suggested we talk and within a few days I found myself sitting in front of the director in his office at the Sherry Netherland hotel.
“What should I know about you that isn’t on your resume?” he asked. That was enough to throw me for a complete and total loop. “I’m very resourceful,” I told him after fishing around my brain for the right words. “Thank you,” he said. And that was that. Thirty seconds. Interview over. Eeesh.
I know this newsletter typically focuses on saving more, investing wisely and spending smart, but in order to do any of these, you need to have money. And for most of us, that means earning it.
Perhaps that’s why Monster.com’s take on the five best things to say in a job interview caught my eye. Monster suggests familiarizing yourself with all of the available literature about and by the company before you’re in the hot seat. Look for their buzzwords, and strategically drop them in throughout the course of the interview. Another good pointer is being able to communicate why you want the job. Managers will take note of candidates who aren’t just money-hungry. Ask yourself why this job will be good for your future – the answer will come in handy for the interview.
Who Needs Drama?
Sometimes forgotten, but always there, inflation continues to impact our finances. As Daily Finance reports, the inflation rate dropped to almost zero percent in 2008, rising in 1.5 to 3 percent increments ever since. Doesn’t sound too dramatic, right? A little inflation keeps America’s economy healthy, but even these small steps forward can add up over time – and make a dent in your wallet.
Take gas prices, for instance. Since 2003, the prices at the pump are up 121 percent. It’s hard to believe that 10 years ago, gas prices danced around a mere $1.59 per gallon. Today, you’re looking at roughly $4 per gallon ($4.59 in my neighborhood), according to the article. Speaking of gallons, inflation’s impact can also be seen in the dairy aisle. Milk was only $2.67 per gallon ten years ago. Today, your average gallon is $3.45. And then there’s college – where prices have gone up at twice the average inflation rate over the last decade.
Even if inflation stays relatively low, it’s important to realize the impact it will have – overall – on your savings. At 3% inflation, $100 will be worth just $55 in 20 years. Just another reminder of why we need exposure to the markets to help us keep pace.
Have You Ever Wondered….
What to do when your financial advisor dies? You probably don’t ask yourself this question often (I don’t think I ever have) but the Wall Street Journal’s recent piece on the subject made me consider it. It’s particularly important if you work with one of the country’s 85,000 independent brokers. Apparently the networks and custodians, who work alongside these indie folks, encourage them to have these contingency plans set-up ahead of time. Yet, these recommendations often go ignored, leaving you (the client) alone and confused when the unthinkable happens.
You’d think all financial planners would have, well, a plan, but they’re human, too, and just like far too many individuals don’t have wills, far too many financial advisers evidently haven’t crossed this particular hurdle. My advice? Print out the article. Take it to your next pow-wow. And ask your advisor: What if?
Have a great week!
Jean
