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The NEW MEANS News
August 2009

Are We There Yet?

When you ride your bike up a mountain (Mt. Greylock here), the best views often come shortly before you reach the top. There are several reasons for that:

1) Obviously, you are up high, plus there are fewer trees, so the view is panoramic and unobstructed.
2) You're going slow, so you can look around without worrying about crashing.
3) You're pretty confident you're going to make it, so your mind is free to focus on the present instead of worrying over outcomes.

Recent conversations with clients suggest there is an analogy to be made to our collective journey back to an economy that is "better than worse." (See hilarious, but oddly insightful, Bidenism below.) It seems that, after what has been a very long, very steep climb, subtle signs of recovery have been enough to allow people to set aside some of their their fear and begin looking down the road a bit.

Good news for sure, but before we crest the hill and start careening down the other side without even taking in the vista, I'd like to use this newsletter as an opportunity to pause for a deep breath, take stock of where we are, and be sure we have on board the important lessons from this experience.

Enjoy the view!
Sherrill

IN THIS ISSUE
  • Wealth of Words: Marvelous misspeak
  • Article: "Recession Lesson Plan: A Kick in the Backslide"
  • Free Webinar Fri, 8/21, @1:00 - Financial Planning Post-Pink Slip

  • Wealth of Words: Marvelous misspeak

    Less good is not good, but less good is better than worse... When I say less good, I mean less bad.
    -- Vice President Joe Biden


    Article: "Recession Lesson Plan: A Kick in the Backslide"

    You can feel it in the air. Long-awaited change is afoot. In the Northeast, the summer that almost wasn't has finally arrived with a vengeance, just in time for "back to school." And, although lagging job growth continues to inflict pain (perhaps more than in recessions past), the recession that wouldn't end is finally showing signs of abating. And with it, a shift in national attitude that has been bubbling beneath the surface has begun to emerge. A couple I met with last week said it beautifully:

    "We're not saying we're glad the recession happened, but the truth is, it was a timely wake-up call." In other words, enough of the grieving over what's been lost and what never should have been and whose fault it was. It's time to accept what is, acknowledge whatever role each of us might have played, and, with the newfound wisdom gained through surviving this crisis, take action to improve from here.

    But take care! In parallel to this positive shift are hints of backsliding to the old ways that got us into this mess. So I propose we kick off the school year with a plan for capturing the painful but important lessons the recession taught us.


    Free Webinar Fri, 8/21, @1:00 - Financial Planning Post-Pink Slip

    Job security: a thing of the past? Maybe, but financial security doesn't have to be. In this webinar, we'll look at why the simple personal finance rules of thumb that used to work no longer make sense for a lot of people. Then we'll run through several post-pink slip scenarios, highlighting financial planning strategies that enable families to survive -- and even thrive -- in these difficult times, as well as better weather future financial storms.


    Got goals?

    Get on track to achieve them! I'm Sherrill St. Germain, MBA, CFP®, founder of New Means Financial Planning, and I'd love to help.

    Contact us today!

    The Career Change Financial Planner
    Now on the blog

    College planning expert Todd Weaver pitches in for August's "Higher Ed" theme, with blog posts to help career changers return to school (or put kids through school) without going broke.

    Quick link to all Higher Ed posts

    Free Webinar, Fri @ 1ET: "Making the Most of Your Money: Post-Pink Slip & Beyond" - Register now!

    Other resources...

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