Hi folks. Today I am going to talk about the importance of coaching/mentoring. No matter what line of work/business you are in, at some point in time, you will reach a plateau. There could be many reasons, but one of the most common seems to be a lack of coach/mentor. Look at anybody who has achieved any level of success, they attribute it to their coach/mentor. Michael Jordan, Tiger Woods all had coaches. So if you want to reach beyond where you are, then a coach/mentor can take you there. The reason is that we are so involved in what we are doing, that we cannot see other things that are around us. Also, when you seek someone’s advice, you have to be humble. You automatically lose your pride. Now being proud of what you have done is fine, but you have to watch out for arrogance. The other thing a coach does is hold you accountable. If you have set a target that you want to achieve, it is easy to get distracted by things in our life. A coach helps you focus. Also a coach will tell you the truth and not stroke your ego. They will not tell you what you want to hear. Say for example you are transitioning from one area of work to another area where you have no experience. You need to get trained by someone who is already an expert in that area. After getting my bachelors degree, I went to graduate school. I started a research project and in order to move it forward, I had an adviser who mentored me. He helped me design experiments, formulate a hypothesis. Also when you get results, interpreting the results is also important. I had mentioned before that I try to read books on many different areas. The book authors act like mentors and help you become a well rounded person. So look at where you are and decide if you have achieved what you want to achieve. If you don’t feel like you are where you ought to be, then find a coach/mentor. The important thing also is to follow the plan that your coach has outlined for you.

Hi folks. Today I am going to write about managing your money. My attorney has told me to say this. I am not a financial professional. The information provided is based on my personal experience. It is not meant as financial advice. Please contact a financial professional for advice about managing your own money.

The reason I am writing this is because yesterday I read that Kanye West a rapper and singer in the US is in debt for $53 million. He has started a GoFundMe campaign to have people donate money so he can get out of debt. Kanye West is successful. At least that’s what I thought. He has sold a lot of copies of his albums, he has a clothing line and other endorsements. He is married to Kim Kardashian. She is the heroine of the reality show in the US called Keeping up With the Kardashians. Kim is also a model. She is famous for posing nude or semi-nude for magazine covers. She also makes a lot of money. In spite of that he is in debt. Why? The simple reason: Poor money management skills. Another rapper 50 cent also declared he was in debt $50 million. But in his case either an ex-wife or ex-girlfriend, took him to the cleaners. I remember long time ago, singer Billy Joel had fired his accountant because he was embezzling money. I feel that all these people depend heavily on their accountants and don’t pay attention to what he or she is doing. They also have a lot of people around them that give them bad advice.

Long time back, my wife and I started working with a financial adviser to learn to manage our money. It was 1995 and I was being laid off from a company. But they were giving enhanced severance packages. Also both my wife and I wanted to go back to school and we knew that our student stipend was going to be much less than our corporate salaries. Long story short, we invested money in whole life insurance policies that builds cash value. We also opened a money market account and started saving a certain amount of money each month. It came in handy when we graduated and were buying our first home. We systematically set aside money to come up with the down payment. It also came in handy when I got laid off again. I wrote about it in the book 50 Things to Do If You Get Laid off (this book is available for sale on Amazon.com). But as times change, your strategy also needs to change. Nowadays, the interest rate on savings account and money market account is so low that you cannot build wealth. But at the same time, your money should be such that if you need it in a pinch, you can access it. So keeping some money in savings is not a bad idea. To build wealth you need to find investments that will appreciate. Again if possible read books by Robert Kiyosaki (Rich Dad Poor Dad). I also invested some money in precious metals like gold and silver. I have invested in real estate. Investing uses the power of dollar cost averaging (buy more when prices are low and buy less when prices are high) and compound interest. In other words, all my eggs are not in one basket. Diversification is the key. You can also take advantage of your employers plans. Maybe if your employer has direct deposit into multiple accounts, take some money from your paycheck and have it deposited into a savings account. Always pay yourself first. I hope you enjoyed reading this post. Let me know your thoughts.

Hi folks. On December 2, 2015, a man called Rizwan Farook and his wife Tashfeen Malik, killed 14 people and wounded 22 in San Bernardino, California. They were linked to many Islamist groups, predominantly ISIS. The couple was later killed in the police shootout. The Federal Bureau of Investigation is involved. They have the Iphones of the couple, but the Iphones are encrypted. A federal judge in Los Angeles ordered Apple to unlock the encryption, but Apple CEO, Tim Cook refused. He says that if he does it, then there is no limit to what else the Government can ask for. This is a political, technical and legal battle. Yesterday, many other tech companies like Google, Yahoo, Amazon sided with Apple. Civil Liberty organizations are also siding with Apple. They say that the US constitution prevents the Government from infringing on people’s right to privacy. In fact back in the 1990’s when cell phones and other devices were emerging into the mainstream, the Government wanted tech companies to install a chip that can be used for surveillance purposes. But the companies refused. Although, I know that companies do collect certain information. For example Amazon looks at what you have searched for and makes suggestions of complementary products. Same with Facebook and Google. But the data is not shared with the Government. So what options does Apple have. Well they can tie this up for years to come. They can appeal to the appellate court and go all the way up to the US Supreme Court. So my question to you is where do you stand on this? Please let me know.

Hi everyone. I read an article in Glamour magazine about differences between a good and a bad relationship. I guess theoretically we know what we need to do, but also habits die hard as the saying goes. I also read somewhere that it takes 21 days of doing the same thing to make it a habit. Now if you have been doing something for years, you can imagine how difficult it can be to change a habit. Conversely, it also shows you that if you stick with something for about 3 weeks, it will become a habit. Three weeks out of your life are not that much, especially if you develop a good habit. So here is the recipe:

1 part own up to your mistakes and apologize. There is no win or loss. Your ego does not need to be hurt. But I know from personal experience, it is difficult.

1 part compliment your partner and if you are going to point out something that bothers you, do so by also telling them what you like or admire about them.

1 part don’t stay upset for a long time. I remember watching the Cosby Show in the 80’s. They had a rule: never go to bed angry.

1 part dependability. Make sure that if you promise to take care of something, you do it. I especially try to do that with our kids, not that I neglect my wife. But things that don’t seem important to you may be very important to them. So if you promise that you are going to make their favorite dish or take them shopping for a video game, try to keep the promise. I realize life gets in the way.

1 part don’t make a mountain out of a mole hill. I sometimes tend to do that and things get blown out of proportion. Think about what you want to stand for or against and how important it is in the big scheme of things.

1 part keep some time for yourself. If you are in love, you don’t have to be joined at the hip. Each one deserves some space. In my case, I go out for drinks with my guy friends and my wife has her own girls night out.

1 part be open. You should be comfortable discussing touchy things like a previous relationship, money etc.

Please tell me what you think.

Hi all. The other day, I was coming back home from somewhere and I was stuck behind someone who was slow. There was only a single lane going each way and no passing was allowed. But then we came to a stretch of road where there were 2 lanes for a short distance. So I pulled into the second lane hoping to pass the slow person in front. But the person actually changed lanes just to block me, so I came back into my previous lane and so did he. He made sure that I could not pass. I honked, but he paid no attention. Again we were back to single lane and I was seething. I was with my family and my wife kept telling me to calm down. But nothing she said worked. So finally we came to a long stretch of road where there were two lanes. This time I was determined not to get blocked. But the person let me pass and I was doing so he had the audacity, the gall to show me his middle finger. I lost it. I opened the passenger window and I started yelling profanities. I temporarily forgot that our kids were in the back seat. My wife was trying to calm me down. I also noticed that his wife was doing the same thing. I swear, I felt like ramming into the guy. Obviously I did not. But the rest of the ride back home, my wife and I were arguing about who was right and who was wrong. My wife told me that I shouldn’t stoop to his level. When we came home, we were in our bedroom and my wife told me that I have to get a hold of my senses. I agreed. But I was trying to think why people react the way I did. In the newspaper today, I read an article about it. The article talks about a book written by neurobiologist Doug Fields. He has written a book “Why We Snap”. It is available at Why We Snap: Understanding the Rage Circuit in Your Brain  on Amazon. He says that our reaction stems from our instincts. We have a threat detection center and it makes us react without thinking of the consequences. It can mean the difference between life and death. Different people use this instinct and in some cases, because of this instinct people commit heroic acts of saving someone or athletes give their best performances in tough situations. But we have to learn how to recognize whether the impulse is life threatening or something that is not worth getting upset about.

Hi folks, today I would like to tell you about my favorite book. I love to read books. I have books everywhere in the house. I also keep one in my bedroom so I can read it when I go to the bathroom. I know TMI, right? Reminds me of that Seinfeld episode in which George goes to the library and takes a book into the bathroom. But one of the sales people sees him and she flags the book and makes him buy it. Anyway, I feel that I don’t devote as much time to reading as I should. It is said that successful people read one book a week. I think I read a book once every four weeks. I have read books on many subjects. By far the most books I have read are related to business, finance and self-help type books. I am not too much into fiction books or romantic books. Nonetheless, I have a favorite book. It is Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert Kiyosaki. It became a New York Times best seller. Just to give you a brief summary. Robert Kiyosaki was born in Hawaii. His real father was a teacher in the State of Hawaii education system. Every time his dad got a promotion, they would buy a bigger house or a better car instead of investing the money. His dad thought that stock market was a bad investment. But because of what his dad did, they always found themselves in debt. His dad used to drive all over town trying to find cheap gas or save a few cents on groceries. Robert calls these habits poor people’s habits. On the contrary, the father of Robert’s close friend in school is the one that he calls his rich dad. His friends dad owned a grocery store. He always invested the profit back into the business. He was not as educated as Robert’s real dad. He spent time getting financial education. But because of that his friend’s dad ended up buying some of the best real estate in Hawaii. He used to teach Robert and his friend how to become business owners. One of the things that his rich dad used to talk about was the cash flow quadrant. Imagine four squares like in tick tack toe. The top and bottom squares on the left had side were for E and S respectively. The top and bottom squares on the right hand side were for B and I respectively. E stands for employee, who are most people like you and I. We trade our time for money. Our employment is at the mercy of the person who owns the company. S stands for self-employed, it is slightly better than being an employee because you are in charge of your earnings. But they are dependent on you. If you stop working, you stop making money. The left side of the quadrant is where the poor and middle class people are. The objective is to move to the right side of the quadrant where B stands for a business owner. This person has employees working for him. I stands for investor. These people invest in other people’s business and also have multiple streams of income. Robert has quite a different definition of an asset. Accountants call assets that have a monetary value for example, a car, a boat, a house. But these things go down in value (a house could appreciate in value, but given the housing crisis in 2007-2008, I wouldn’t say so). According to Robert, an asset is something that goes up in value and puts money in your pocket. Now if you have a rental property, even if it goes down in value, you are still getting rental income and the interest you are paying is tax deductible. So it can still be considered an asset. Things like cars and boats are called do-dads.  Robert also talks about the difference in philosophies between rich and poor people. He says that poor people buy do-dads and rich people buy assets. There is also a difference between how the people on the left and right side of the quadrant pay taxes. An employee or self-employed person has to pay taxes up front on his gross income. But business owners and investors can get deductions for their earnings and pay taxes on their net income. I have tried to apply many of the principles in Robert’s book but I am not quite on the right side of the quadrant yet. Hopefully soon. What is your opinion?

Hi folks. I think you must have noticed that my past couple of posts had a common theme-American Football. Here is one more. Last night the National Football League (NFL) Championship Game known as Superbowl was played between the Denver Broncos and Carolina Panthers. The Broncos were the underdog. I always root for the underdog, but in yesterday’s game the Broncos were lead by Peyton Manning. Peyton Manning is the oldest quarterback to start the Superbowl. He is 39 years and 320 days old. Ever since Peyton Manning came into the league, everyone knew he was destined for something great. And Peyton did not disappoint. He has broken all records, has been chosen the NFL Most Valuable Player (MVP). He has also won the Superbowl once as a member of the Indianapolis Colts and also won the Superbowl MVP. But he also lost a Superbowl when he was with the Colts. Year before the last year of his contract with the Colts, he got injured. The injury was severe. His neck vertebrae had fused and he had to undergo surgery. He underwent multiple surgeries. But no one was sure if he would be back to his former MVP form. He spent the last year of his contract on the sidelines because he was at risk of being hurt again. The Colts got many opinions from doctors about how Peyton would respond. But he passed all the tests. There were questions about his arm strength and whether he could throw the ball far. But he proved that he could throw long passes. But the Colts decided not to renew his contract. The Denver Broncos gave Peyton a contract. He rewarded them by taking them to the Superbowl two years ago. But that game was a debacle from the first play of the game. Peyton never looked comfortable. His receivers could not get free from defenders and the Broncos lost the game. The Broncos made the playoffs last year (2014), but did not go far. This year (2015), the Broncos made the playoff, but their defense was a major contributor. They had the number ranked defense in the league. In fact, Peyton was actually benched in favor of his backup quarterback. The backup quarterback played well. Peyton also got hurt and it looked like he was done for the year. But then his backup got hurt and Peyton became the starter once again. He played well in the playoffs and made it to the Superbowl. In the game prior to the Superbowl, Peyton beat the New England Patriots. After the game the New England Coach congratulated Peyton. Reporters close by heard hims say that this was his last rodeo. So everyone thought that Peyton would retire after the game. It would be a nice crowning glory to his illustrious career if he won the Superbowl. Their opponent the Carolina Panthers were destroying everyone that stood in their path. The Panthers quarterback was the league MVP. They had a good offense. But Superbowl history says that when there is a good offense versus a good defense, the defense is 9 wins-2 losses. In spite of that the Broncos were the underdogs. Peyton did not have a good game, but the defense had a great game. They made life miserable for the Panthers quarterback. Finally they won. A reporter asked Peyton if this was his last game. He commented that he did not want to make an emotional decision. But I think he should retire and go out on top. He has nothing to prove. What do you think? My other problem is that football is over at least until September. What am I going to do on Sunday’s?