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The First of the Day: How to be Born Again in the Present.

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There are quite a few inspirational books around-one being Eckhart Tolle’s “The Power of The Now,” which extolls how one must live in the present (the now) to be fulfilled, happy, less in a state of anguish. The more time I spend with these sage teachings, the more time I take to fully absorb the lessons, the more I realize how living in the present is the only way to live.

I’ll explain.

The past is a heavy dumbbell that positions itself in the center of your mind and eventually finds a home someplace deeper. And the weight is there: All the time. It presses. Feels like a thousand pounds. Dragging you down. The past nurtures fear, resentment and ostensibly works to stifle your creativity, your spark. Plainly, it’s exhausting to relive the past. Heck, I’m still reliving moments from 30 years ago and when consumed by the past, I’m tired enough to sleep for days.

Being overly worried about the future is a waste of mental and physical resources, too. As then happiness, your state of mind, virtually depends on some perfect future confluence of events. You’ll create and be bound by rules. From the outside, some of these rules will appear overwhelming, debilitating. Not to you, though. To you, the hurdles formed are just fine (but they’re not).

 “I’ll be happy; I’ll be satisfied, if and when this or that occurs.” This is no way to exist.

After all, how long before the present becomes the future? Think about it: So, today is Tuesday. The future is Wednesday. Ok, so I’ll be happy Wednesday because of _____.  Then Wednesday comes around and without a doubt, you’re fretting because it’s not Thursday! The future is a torturous, seductive mind loop made of insecurity, negativity and conditional happiness. It’s the cerebral version of the hamster wheel. Not productive. You’ll be stuck in the muck of a world that’s not yet arrived. And then never arrives.

Ignoring the beauty of the present or not truly realizing you live and breathe in the present, in the now, is a waste of mental resources and sometimes it’s a waste of financial opportunity. Avoiding the present destroys fulfillment, creativity and happiness in daily accomplishment.  The present is really all you have when you truly think about it. The current moment is everything. What will you do with it? How will you make the most of the now, right now?

The shackles of the past release you in the now; the rules, conditions, and burdens of the future don’t exist either. You’ve given yourself permission to fly. Tolle teaches how the ego is the culprit. It’s primarily a dysfunctional, festering cerebral offspring that won’t go. Won’t give you a moment’s peace. The human ego is the mechanism which feeds off the carcasses of your past and then sets unrealistic guidelines for your future. The ego is the heaviest link in your misery chain. The ego can destroy or stand in the way of your wealth building activities.

“The ego’s needs are endless. It feels vulnerable and threatened and so lives in a state of fear and want. The ego is always seeking for something to attach itself to in order to uphold and strengthen its illusory sense of self, and it will readily attach itself to your problems. This is why, for so many people, a large part of their sense of self is intimately connected with their problems.” Tolle.

I get puzzled looks when I discuss this stuff: “Rich, you’re a money guy. A financial planner. You’re obsessed with the future and you explore the past. How much money will you need in retirement? What happens to your family’s finances if you become disabled? Do you have enough insurance coverage on your home or auto? What were your first experiences with money? Plus Rich, I know you: You have a HUGE ego. I mean really BIG: Aries BIG!”

True words. But. As I must keep an open mind when assisting those in my client family, I understand how I’m responsible for interpreting present conditions, mine and those of the ones I serve, to truly forge an appropriate financial path. For me, keeping an open mind to the input of the now has brought about a state of enlightenment, of ideas, exercises, and words that have been helpful to many. Being in the present also helps me see whether a financial path needs to adjust or change altogether. I have worked to train myself to remain in the present. Relish in its beauty and teachings. Being fully absorbed in the moment is crucial. It’s no longer a focus on money mistakes of the past or flowery overarching statements of future financial success.

Like:

“Picture yourself on some beach, relaxing in retirement. Toes in the sand. Let us worry about your money.” Financial Firm Speak 2012.

Too much picture of the future. Not enough vision of the present. It’s easy to fall for false promises because the weight of the future is just too stressful. Flowery images of the future are not going to get you where you need to go. Plus, I’m customarily skeptical of any financial entity that advises me to “let them worry about it.” If it’s my money, if I built the wealth, then it’s because I did worry about my money. I’m still going to worry about it. I want you to worry about it WITH ME.

To become a master of your financial path, embracing the present is a necessity. And since your ego is not permitted to flourish in the now, your thought process will be clearer, you’ll be receptive to change, and willing to alter the behaviors which have prevented you from increasing your net worth.

Random Thoughts: The Ways of the Now:

1). Drop your Current Financial Advisor. I heard a financial person on local radio make a statement that irked me recently. He said, “the future will be better for stock investing.” And as I listened I could tell immediately his statement was not backed by any formidable research done in the present. If stock investing is indeed going to be better in the future, then I guess you should stay fully invested until that magic moment occurs (whenever that is).

 If the yet to come is going to improve for stock investing, or any type of investing, then in essence, I’ve possibly wasted my present (and maybe my money)  by not accepting the conditions that exist today. Any advisor who tells you the future will be better (or worse) for any style of investing or a specific asset class of investment, should be ready to offer the evidence that helped him or her decide on the outcome. It’s fair if the assessment is based on homework. You can choose to agree or not.  And the evidence must come from origins other than an employer’s in-house research department. Your advisor needs to do his or her own homework, unshackled by the biases of the research created by an employer. If not, in the present, it’s best to find a different advisor to guide you.

 2). Fully Absorb in the First Expense of the Day. No matter what that first purchase of the day is. A cup of coffee, lunch, a newspaper (who buys actual newspapers anymore?), gum,  I want you to write down the why behind the purchase. How did you make the purchase, cash or credit? As of today, can you stop this purchase from becoming a habit or stop if it is a habit, already? What was the motivation for that first purchase? Were you stressed? Tired? Analyze the present. Can you go an entire day without making a single purchase? A week? Try it. Think twice in the now before you make a first purchase of the day.

3). Become a Financial Sherlock Holmes. Scrutinize daily actions, your financial habits, from the perspective of the present. In the recent film, “Sherlock Holmes: A Game of Shadows,” Robert Downey, Jr. as the super sleuth is asked: “What do you see?” He says: “Everything. That’s my curse.” Well, is seeing everything (in the present), becoming fully aware of your current environment, really a curse? Focusing on the now may save your life. Your activities today matter most, especially when it comes to money behavior. What you do today forms the foundation of success or failure in the future. You and your advisor or a trusted partner must confront what’s happening in your life now which prevents you from saving more of your income, paying down debt, seeking a better job, and moving away investments laden with higher-than-average fees or commissions.

4).To Fight Behavioral Pitfalls you must exist in the Now.  Your ego: One of the most lethal enemies of good fiscal health. A healthy ego can lead to bad financial behavior. It seduces you with sweet lies. It tells you you’re greater at investment selection (and everything else) than you really are-makes you overconfident in your investing skills, anchors you to the price paid for a losing investment.  For example, maintaining a losing position until it returns to the original purchase price “in the future,” is a very common investor mistake. And the opportunity cost can be enormous.

Tough to believe-there are investors who are still convinced that the Cisco stock (CSCO) they purchased in 1999 for $160 a share will return to that price (in their lifetime). And it’s been 13 years! Talk about chained to the past!

Holding on to a concentrated stock position (one that makes up 25% or more of your portfolio), solely due to an emotional attachment (it happens more often than you think), is a mistake when you focus on the past. Perhaps you inherited an investment from a loved one or possess an overweight to a stock of the company you retired from after 15 years.  Living in the now breaks the chains of the past. In the now, you can research an investment and be free of emotion doing it. Is the investment as good as it was years before? My life is different in the present, so perhaps I’m more vulnerable to risk if I don’t sell down this position?

Living in the now doesn’t mean you should be short-term trading your portfolio, either. It’s about stepping back, slowing down time and digging deep into your money mental makeup. If anything, being aware in the present will prevent you from overtrading your accounts.

5). Immediate Gratification was really Future Gratification. I know. You’ve been told that one of the primary reasons for over indebted households was the desire to consume. Let’s face it: We love stuff. And we used credit and home equity to purchase all that stuff. I argue that when you were making the decision to purchase that big-screen HD television and surround-sound system you were fixated solely on the future. First, you pictured yourself the following Saturday, sitting and watching an endless stream of Blue-Ray movies, even the ones you weren’t really fond of in the first place (they must look better on a new television). Second, you figured there were better times ahead and your house would continue to increase in price. Third, you thought a pay raise was imminent even though perhaps the future had different plans for you.

There is something revolutionary about this power of now. Why didn’t I come across this wisdom twenty years ago? Oh that’s right: The past is dust, the future is myth. The present is here.

How will you deal with the real of now?

Your Personal Declaration of Independence – How to be Reborn on the 5th of July.

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“The brick is on fire!” Donna screamed.

Pointing feverishly to the Armeggedon in front of me. She was long at my back. Way back from my back. Like to the doorway to the exit to the floor below.

Are you lighting the right passions? What is your focus?

And it was.But if (when) you stepped away, the bricks engulfed in flame was the least of my problems.A good part of the apartment building’s roof was engulfed. It was a super-hot Fourth of July, too. 1976.

The tenement building’s roof was my personal summer sticky playground and now my playground was in danger of melting.

At least if a Brooklyn FD unit was in my future, I was wearing pants this time around. The last time fire trucks showed up I had my bare bottom stuck to hot asphalt. This time? I was prepared! Pants locked. Secured.

It all happened so fast. This was supposed to be the best fourth ever too. Portable radio, new hibachi (tiny, best BBQ ever), and $200 worth of assorted fireworks (that was a fortune for me). A fortune for 1976. Hey, it was the bicentennial. A big deal. I wanted a big bang to celebrate (from Donna too who wore a July 4 themed tube top ready for removal).

For those of you too young to know what “Hibachi,” is.

The wind was unusual. Air was still. Then a gust. Still. A gust. Let’s say it was damn unusual. I placed the first (of what I thought would be many) of the colorful fireworks, cone shaped, on the ledge of the roof facing the street.I was going to orchestrate the most impressive pyrotechnics display these sweaty bastards ever saw. Happy 200th birthday, America!!

I lit the fuse and stepped back. Excited. Then it hit me. A formula for disaster was right before my eyes.

Wind Gust + Huge Paper Grocery Bag of Fireworks On Roof Floor + Ignited Fuse =

Brooklyn rooftops were both beautiful & dangerous.

I couldn’t have planned a  more perfect disaster. The wind knocked the cone directly into the bag. Then the real show began.Before it was over, there was a flaming pile of ash and a trail from the wind swirling remnants of fiery trash now starting fires all over the roof.Flaming fireworks were now raining down on the courtyard too.

I dreadfully imagined the emergency call to the FDNY this time:

“The roof of _____? Is it the kid who had his genitals stuck? He’s at it again?”

Hey, it wasn’t my fault!!!! I didn’t plan this!!

Or did I?

Fuck off!! I’m the victim here!!!!

Was I?

I needed to face smoldering facts. I was turning into a human I didn’t want to be. A person worse than a hoodlum. My soul was on fire.

My mother always blamed everyone else for her troubles, her fate, even though she was responsible for what lit her fuse and how she crashed and burned. Over and over again.

Turning into my mother was the worst thing I could imagine. In the flames I was still. I was hoping to burn. Donna? Long gone. On the phone with the fire department.

I was next. Ready to burn. Ready to be consumed by the hell fire of a victim’s mentality.

I imagined myself a scarred drone. A victimless victim. An ash hit my face. I left it alone. To wake me up.  I was not going to fall for the hypnotic bad flames around me. I was bigger than the fire now.If there was indeed going to be fires, I was going to make damn sure I was responsible for them. I was going to use them to fuel my path. Out of this neighborhood. No more rooftops. No more bare ass to asphalt. And I was going to make sure my fires were mostly for good things. Not for ruining property. My beloved roof. Scarred forever.

At 12 years old I declared my independence. Never looked back. Little did I know when my mother left town forever a year later with a guy she knew for a week, this move would serve me well.

On July 4 we celebrated. We took back America. The one we remember or at least, like to remember. The one of loyalty, love, faith, friendship. The old of glory. The flames of patriotism and of course, independence.

Then July 5 rolls around. And it’s over. We are slaves again. Slaves to debt, slaves to overwhelming bosses and the corporations they serve, slaves to politics, slaves to shit we don’t need. We lose ourselves in the bad flames. Next 4th of July we’ll restore our faith again. Not good enough. It’s time to light your fuse.

No. A year is too damn far away. Today, July 5. You will be reborn. Today is your personal independence day. How will you create and serve this noble purpose?

How would you begin your PDI? What will be your Personal Declaration of Independence?

Random Thoughts:

1). Burn (or blow up) Bridges. Set to flame those people who don’t ignite your passions, your creativity, your strengths, your will to live. You’ve already identified them you just haven’t had the guts to set the bridges on fire. Not literally. Put away the lighter fluid. Don’t even call these pricks. Just stop communication. Walk out. Get an attorney if you’re married. Nothing wrong with using the laws of the land to light the dynamite.

2). Be a Firestarter. Direct your fire slowly to those activities, the people, the materials that enhance your intelligence, bolster your wealth, lighten your mood and encourage you. Light the spark every day. At the end of the day, be thankful you were able to set good thoughts ablaze. Be thankful for the firestarters.

3). Who Holds the Fire Extinguisher Now? Or who is out to hose you? I’ve identified real false fire gods. They lurk in the coals of corporate America. You think they’re mentors. They are. Up until you stop chugging the Kool-Aid and speak out against an action that’s inappropriate to the customers or clients you serve.

Do that and you’re dead. Even if you speak out once. Dead. Covered in white foam. Your career fire is out. Just like that. What the hell happened?

Create a personal, small rebellion (which will turn out to be BIG) against corporate America. Corporate America is no longer your friend if you’re an employee. Although, you’re extra, extra special as a shareholder or a bondholder.

As a worker, you’re drudge at the bottom of a drudge bucket. Yes, there are exceptions but not as many as you think. Every corporate action that is taken and will be taken going forward will be to drain more life out of you and take time away from your family. All for the sake of fatter profit margins. All to appease Wall Street analysts. You work for Wall Street now. It doesn’t matter what your check says. Your corporate mentors will spoon feed you, pacify you until you speak up. It only takes one time.

After the financial crisis in 2008, behind the doors of mahogany boardrooms I’m thoroughly convinced that corporate decisions makers know they have you over a barrel. They’re willing to take advantage of the situation for as long as possible. They want the fire in your soul until there’s nothing left.

You’ll work longer hours for less pay. You’ll progressively be thrown lofty goals soaked in management hubris, which will be increasingly impossible to meet. And when you don’t meet or exceed these hurdles you’ll be written up or threatened with firing.

The future indicates you’ll need to deal with greater “innovation” from middle managers who consistently need to work off your sweat equity to enhance their miserable careers. You have now become a flesh cog in the corporate machine until the scales balance more in labor’s favor. It will happen someday. They’ll be more workers seeking to break free. For now? You’re screwed.

Don’t be a victim. What actions can you take today to further strengthen your personal declaration of independence. Knowing your enemy helps. Some dress well and talk sharp. Take what you can get. Be respectful. But never trust corporate mentors.

4). Positive Fires Rage through Humility. I’ve heard America likes overachievers. I don’t believe it. People will sincerely appreciate your help but don’t fall too in love with yourself. Remain humble and grateful in your life and in your delivery of guidance. Overachieve in your heart and be thankful when people recognize and commend your fires.

God will bless you and people will actually heed your words. Humble also means you have a fire to constantly gain knowledge. You can never know or learn enough.

I never went up to the roof again. I left everything. For all I know, the Hibachi  and the radio are still up there.

The person I was remains in the brick of an urban hearth. The person I  was died in flames on July 4, 1976.

On July 5th,  I was reborn.

How will it happen for you?

Although on occasion, I miss the dirty beauty seen from a Brooklyn roof.

The “Don’t Worry about your Money,” Pitch. Please, Please don’t be a Dumbass.

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Radio is an obsession for me. Was. Is.

Was: Talk radio in the 70’s Metro New York was somewhat magical. And talk was all AM banded. Like CB radio on major wattage steroids. FM was for pussies who listened to music and didn’t want to learn anything.

And if I wanted music I could tune the razor-tooth dial on my bright-orange RadioShack plastic transistor to WABC 77 AM and listen to them spin “Brandy,” by Looking Glass over and over and over again. And then again.

Allegedly, Brandy was a fine girl. I always pictured Brandy as a Susan Dey with breasts. Susan Dey was all nipple. Nothing wrong with that. Nothing.

What ever happened to tenement walls as billboards?

I loved my CB radio even more. Around noon, summer, 1976 in the high heat of the day, I was always able to raise Donna on channel 21 for sexual favors on the roof of the apartment complex where I lived.

Once she needed to call the fire department because my bare butt and other more sensitive areas (in between) got mired in the slope of roof coated with sloppy, sticky asphalt. Embarrassing.

How those fire people laughed at me. Not funny. Baby Fredo with his pants down.

“Afternoon Delight,” by the Starland Vocal Band truly was apropos then. Who was supposed to be the stick and who was the stone in that ditty?  Always confused me.

You know you want to sing it..”Rubbin’ sticks & stones together makes the sparks ignite…” Yep.

I delivered “The Daily News,” every morning at 4:30AM. One of the biggest routes in Brooklyn.

Right there on the handlebars-midpoint. An AM radio designed for bicycles. I would listen to Paul Harvey (he sounded old then god rest his soul), John Gambling (Rambling with Gambling) and just the all-news station WINS beginning at 5AM.

In the 70’s the money talk was about inflation. You think we have inflation now? HA. If I collected $1.25 from a customer on Friday afternoon by Saturday morning itwas worth 90 cents. Radio money talk ain’t what it used to be.

The money radio babble (local to me) today, especially on the weekends has become downright silly. Informercial city. There’s one show in particuliar that shall remain nameless. The “expert,” screams at you. Says (howls):

“IF YOU INVEST WITH ME YOU WON’T WORRY ABOUT  YOUR MONEY! YOU’LL BE COLLECTING SHELLS ON THE BEACH!”

5 Random Thoughts:

1). If an advisor tells you not to worry about your money – RUN. Some of the most successful, wealthiest people I know worry about money. They’re sensitive to taking on too much debt, how much they save, how they talk to their kids about it, how to budget. A little stress keeps you alert. On your toes. Those who are carefree and don’t stress about money hold more debt, especially credit card debt – the worst kind of debt.

2). If an advisor is using the words “sleep at night,” and “guarantee,” or go collect sea shells – RUN. You better know what you’re paying for the Snuggie. It’s ok if you want to pay for guarantees, most likely through life insurance, if you understand how much it’s going to cost you.

3). Don’t believe financial services television advertising. As soon as you observe the elderly couple holding hands, making warm and fuzzy with their financial advisor and skipping through the bluebonnets, realize your experience is going to be just the opposite. And if there’s sappy music in the background? Even worse. Run again.

Financial services tv ads are so cute.

4). Don’t have sex on a hot roof. Or any roof. Do I need to go further here?

5). Treat financial media in general as entertainment. Unless you’re experienced enough to separate the entertainment from real information you should stick with watching reruns of “The Andy Griffith Show.”

I see this entertainment factor show up more on the national level. Anyway. Take it all in with a skeptical eye. Do your homework.

How will you worry about money today?

C’mon it’s good for you. Like beets. I hated beets as a kid. Still do. Blah.

Beets. Coming up!