September OverHall IT! Issue
SEPTEMBER, 2000
Vol. 1, Issue 9
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Table of Contents:
1. Welcome Message
2. OverHalling and Balance
3. Tip of the Month
4. Guest Article
5. Events
6. D-BUST Your Computer-Part 5
7. Ask the OverHaller
8. Jokes, Quotes, and Anecdotes
9. Products, Books, and Web Site Reviews
(Check out the NEW stuff here-Home Based Business
News and Organizer Link of the Month)
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1. Welcome Message
I know it's October and no you didn't read the month
incorrectly - this is the Sept. Issue!
I beg your forgiveness for the lateness...but you
know how life can be sometimes. I had to make some
hard choices in Sept....write the newsletter
or....work with clients, speak at three functions,
participate in four events, market upcoming seminars,
and much much more! That was just the business side
of my life! I know you understand.
Our winners from the August Issue contest were Suzi
LaCoste from Michigan of
http://www.ismi.net/angelworks
where she makes and
sells jewelry, (I urge you all to take a look at her
beautiful pins that are reasonably priced, I know
where I'm going to do some of my holiday shopping!
Hey Suzi, I didn't see a Professional Organizers Pin,
are you up for the challenge?) and Kay Adams from New
Mexico. Suzi and Kay will both be receiving a FREE
copy of The Little Red WHO, WHEN, and WHERE Home
Manager's Booklet. Congratulations to you both!
You'll notice I have added three new sections to
OverHall IT!: OverHall IT! Tip of the Month, OverHall
Events, and Ask the OverHaller. I hope you all
participate and enjoy these new sections.
Okay, ready to start "OverHalling"?
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2. Does Your Life Include a RIPE Plan?-Planning
Tips for Retirement, Investing, Protection, and
Estate Planning - Part 2 (Investing)
by: Janet L. Hall
After reviewing your retirement plan, or lack of one,
you might have had a huge eye opener to the type of
life you might have to endure after retirement. Did
it become apparent that you HAVE to change your
lifestyle NOW so you can enjoy your future? Did it
become apparent that you better start learning about
investing and start investing NOW?
TIP: Before you begin to invest you should also
educate yourself into the vast arena of investing.
You should have a game plan, know what your
expectations are for investing, and your needs for
now and the future.
The Internet has made it easier then every to start
investing; at least you can sit in the privacy of
your home or office and click away your money. BUT
are you investing wisely? OR does the whole idea of
investing have you so confused or scared that you
don't even think about it?
Let me tell you right up front, there are no PERFECT
investments. Very few people (if any) get rich
overnight by investing. Investing is more like a
long-term savings plan, but hopefully with much
better returns.
To make intelligent and wise investments, you should
know and understand the economic conditions; not only
of the US or country you live in, BUT the world
economy as a whole. Stop, learn, and understand how
inflation, interest rates, and taxes will affect your
investments.
Once you have some understanding of economics and how
it will affect your investments then you need to know
and understand the different types of investment
opportunities that are available and how your age and
possibly even your health plays into those
investments.
The 5 W's of Investing:
~~ WHO do I use as my broker or do I go at it alone?
You can do most of your investing yourself but if you
need or want advice, hire a planner or broker; you DO
NOT have to be rich to hire a planner. Just
remember, bottom line, it's your money, not theirs,
and it's your life!
~~ WHAT type of investments should I make?
A lot of things come into play here - your age,
income, available monies, your health, and your
expectations. I've listed several types of
investments for you. It's your job to find out which
is best suited for you.
Types of Investments:
For a small amount of money you can invest in many
stocks by investing in MUTUAL FUNDS.
Under Mutual Funds you have:
Growth Funds, Income Funds, Bond Funds, Money Market
Funds, Sector Funds, International Funds.
There are * open-ended * and * closed-ended * funds,
? fund families *, and * big * funds and * small *
? funds (Isn't this FUN!).
INDIVIDUAL STOCKS are publicly traded stocks that are
over-the-counter and listed.
Under Stocks you have:
Common Stock, Preferred Stock, Cumulative Preferred,
Stock Dividends, and Penny Stock.
IOU a BOND, which is what a bond is.
Under Bonds you have:
T-Bonds, T-Bills, Savings Bonds, Municipal Bonds,
Corporate Bonds, and Stripped Bonds.
You can also invest in Real Estate, Art,
Collectibles, Utilities, and Commodities.
There are Low Risk/Low Effort and High Effort, Medium
Risk/Low Effort and High Effort, and High Risk/Low
Effort and High Effort.
~~ WHEN do I start investing?
If you've been doing your homework the last couple of
months in OverHall IT! You should have a working
budget in place, cut out needless or wasteful
spending, and your financial area should be more in
balance. The next suggested step before you begin
investing is to build an emergency fund of three to
six months' salary. After all these tasks are
completed, then and ONLY then should you think about
investing.
TIP: You should only invest money that you can afford
to * put away * for at least five years or longer.
This means you must take a very close look at other
things in your life, such as is your job secure, is
your transportation reliable, are you in good health,
is your business profitable and steady, and many,
many other areas and things in your life before you
start investing your hard earned money, because you
want to make a profit, right?
~~ WHERE do I invest?
Only you can answer this AFTER you've done your
homework!
~~ WHY do I want or need to invest?
Do you want to build an estate to leave to your loved
ones or do you need extra money now? Are you
investing to supplement your income or for your
child's future?
~~ HOW do I invest?
Invest the time in learning about investing your
money, it's your MONEY and your FUTURE. If you've
already started investing, schedule a meeting with
yourself or planner/broker and review your portfolio
to make certain your investments are or will be
meeting your needs. Make it a habit to review
your portfolio at least yearly and especially when
you have a * life * change.
As you can see, there is a lot more to investing then
just * picking something * and laying out your hard
earned cash!
How much time are you willing to invest in your
investments?
The mantra for Investing is * Educate, Select,
Monitor, and Review *!
TIP: Try playing * pretend investing * while you are
learning. E-TRADE offers a * PLAY * area to do such a
thing at http://www.etrade.virtualstockexchange.com
Here's hoping you invest wisely and make the monies
that you need or want!
Next month Part 3-the P in RIPE!
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Do you feel like an Army Sergeant in the morning,
trying to get your children out the door? Get the
tape, Prepared for School at
http://www.overhall.com/prepared_for_school.htm
FREE Child Clutter Test, click
mailto:childcluttertest@sendfree.com
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3. OverHall IT! Tip of the Month
by Janet L. Hall
Pack up and save any of your summer clothes that you
actually wore this summer, that still fits, that you
like, and that doesn't need repair or cleaning.
Store your summer clothes in an under the bed storage
case or in a spare closet. When you start moving
your fall and winter clothes back into the closet or
drawers ONLY put in the items that fit, that you
like, that you wore last year, that don't need
repaired or cleaned. Donate anything you are parting
with. Shelters are always in need of clothing but as
I found out earlier in the week, the need for MEN's
clothing is BIG! So clean out those closets and
drawers, and old boxes and containers that you have
been storing things that, * might fit * or * might
use * someday and donate them to someone in REAL
NEED!
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4. Choosing a Financial Planner
by: Dr. James Mallett
Virtually anyone with a decent income or moderate
wealth could benefit from the services of a financial
planner. By a financial planner, we mean someone with
the expertise to produce a comprehensive financial
plan for an individual household. This plan should
cover the household's fnancial goals, budget,
insurance and risk review, asset allocation,
retirement plan, and a review of an estate plan. Such
detailed planning is unlikely to be meet by brokers
and agents interested in commissions on financial
products they sell.
A financial planner has a broad knowledge of areas
such as tax planning, investments, and estate law but
is unlikely to be the financial professional you
require in these individual areas. Rather the
financial planner can help coordinate you
financial planning with your accountant, insurance
agent, investment professional, and estate lawyer.
The broad expertise that a professional financial
planner possesses will help insure that your
financial goals are meet and that areas of your
financial life are reviewed.
Hiring a planner will help you avoid expensive
financial mistakes which could seriously damage your
financial health. It would not be difficult for most
financial planners to find serious gaps in most
household finances to pay for their services. Even
individuals with expert knowledge in one finance
field such as investments can overlook areas such
as insurance or estate planning. Few people have the
time, desire or expertise to do a complete financial
plan for themselves.
Saying that most would benefit from using a financial
planner is not to imply that there are not wide
differences in abilities and costs among planners.
Few areas will pay richer rewards for the public than
gaining basic knowledge in personal finance. If one
is not careful, fees and commissions could negate
much, if not all, of the benefit of choosing a
financial planner. What follows in this article
issues to consider in choosing a financial planner.
The first step in looking for a financial planner is
to limit your search to someone that is certified in
financial planning. Two certifying associations that
I would recommend are the Certified Financial Planner
and the Personal Financial Specialist (given to
qualifying Certified Public Accountants).
The second step is to seek out recommendations from
people that you respect for names of financial
planners and interview these planners. Your aim is to
find someone that you that meets your needs and that
will look after your interests. A problem that exists
in selecting financial professionals is that what is
in your best interest may fall a distant second to
what is in their interest of making profits.
The following site allows you to find a financial
advises in your area criteria that you select. It
would be best if you can find three advisors to
interview. Also ask for references.
http://www.therightadvisor.com
The third question you need to ask is how does the
financial planner receive compensation and what will
this compensation cost you annually. In calculating
the costs, one must consider fees, commissions,
transaction costs, and if what are the annual fees of
the financial products that they recommend (such an
mutual fund management fees). It is quite possible
that after adding sales loads and management fees,
the after-expense return that you receive from
equities will not justify the risk. Recent high
market returns have served to mask the fleecing of
many American investors.
Financial planners fall into two broad types: fee-
only financial planners and commission and/or fee-
based financial planners. While some give the nod
automatically to fee-only financial planners, it will
depend on your particular circumstances on which one
will be best for you.
If your only need a comprehensive financial plan and
you are willing to invest your funds yourself, than a
fee-only financial planner that charges by the hour
may be your best choice. If you want the financial
planner to manage your money, than many fee-only
financial planners have moved to an asset based fee,
normally .5% to 1.5%, of your assets. Two factors
should be keep in mind. One is that this fee
continues annually. Second, most financial planners
put your funds to work in a mutual fund and that
means you continue to pay the mutual fund another
management fee annually. Since evidence and theory
suggest that none of these efforts will result in out
performance of an index mutual fund, one might
wonder why not go directly there and save about 2% in
management fees. Plus, on average, you will have a
mutual fund that will outperform most professionals.
With commission-based financial planners, individuals
run the risk that commissions that are charged on the
financial products that they recommend will add
greatly to the cost of the financial planning. The
risk of conflict of interest arises when the planner
receives greater compensation based on what financial
products that they recommend. It may be possible,
however, for some individuals that the free or
reduced-cost financial plan would not be offset by
the higher commissions. For example, the one time
load on the mutual fund might be cheaper than paying
the annual 1.5% fee to a fee-based financial planner.
You must compare all of these costs when deciding
which financial planner is the best for you.
Given this information on financial planners, it is
clear that knowledge on the consumers part is very
important. While many households will spend a great
deal of time shopping for an automobile, the decision
of who to trust with their wealth too is often made
without as much thought. As a result Americans spend
many billions on financial services than what is
needed.
Professor James Mallett, the founder
of http://www.ImproveYourFinances.Com
, has been teaching in the
Finance Department at Stetson University since 1984.
He also serves as the director of the Roland and
Sarah George Investments Institute in the School of
Business Administration. The George Investments
Institute houses the Roland George Investments
Program. This program enables students to manage a
$2.3 million portfolio of stocks and bonds. Professor
Mallett completed his Ph.D. in Economics at Wayne
State University in 1981.
At Stetson University, Jim Mallett teaches personal
finance, investments, and international finance. He
also serves as an investment committee member for
Orange County, Florida.
You can contact Dr. Mallett at
mailto:jmallett@stetson.edu
His web site is http://www.improveyourfinances.com
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5. OverHall Events
October 12 (8:30 AM) Hear Janet and Paula on
Baltimore's WEAA-FM, 88.90 on your dial.
Oct. 12 (6pm-9pm) OVERHALL YOUR LIFE
FOR MORE SPACE, TIME AND MONEY & BREAK
THE DEBT CYCLE - FOR GOOD! at the Southern MD
Higher Educational Center, California, MD
Oct. 26 (6pm-9pm) OVERHALL YOUR LIFE
FOR MORE SPACE, TIME AND MONEY & BREAK
THE DEBT CYCLE - FOR GOOD! at The Show Place
Arena, Upper Marlboro, MD.
For more details or to register:
http://www.overhall.com or call
800-687-3040.
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6. D-BUST Your Computer - Part 5
by: Janet L. Hall
T Stands for Templates and Time
Let's start with Templates.
What is a template?
In its simplest form, a template is a document you
have created (or one already created for you) in
which you store information and/ or data that will be
unchangeable and you use over and over. It's like
creating a * shell * document and some of you might
refer to or know this type of document as a
boilerplate.
For instance, you can create your company invoices
as a template, with logo and design, and call up the
template each time you need to send out an invoice.
You can create a template for your letterhead,
including your headers and footers. You can create
templates for your different size envelopes with
return address stored in place, create a template for
your in-house memos, and timesheets. Whatever you can
think of! Whatever type of document you are finding
yourself continually having to recreate, make a
template and be done with it!
All that's left for you to do is to open the
template, and insert the new information that's
needed. Example: If you're doing an invoice, you
would type in the appropriate information and
then use your SAVE AS function (I wrote about this
function in the June issue at
http://www.overhall.com/jun00.htm
).
Microsoft has built in templates, with step-by-step
instructions of how you can customize them for your
company or home use.
There are two different ways to see what templates
are available to you.
Here is how to access them:
Click on START
Move Pointer to New Office Documents (This function
is also on your Office Shortcut Bar) and Click.
A box will appear that presents you with many Tabs to
choose from and within those Tabs many templates to
choose from.
Go ahead, click on some and play around with them.
When you have created YOUR template use the SAVE AS
function.
You can also access some templates when you are in
Microsoft Word. At the top of the screen, left hand
side (make sure you have opened a document or have
started a new document) Click FILE and Click on NEW.
You will see some Tabs for a variety of templates
that you can use.
Using templates can save you the agony of recreating
a cumbersome document over and over again and it can
also save you time!
Speaking of time... TIME is something that many
people complain they don't have enough of, especially
to dedicate to their computer.
I can not stress enough to you to schedule time with
yourself to at least D-BUST your computer monthly!
Make it a new habit and start working on it now.
Pick the same time daily, weekly, or monthly to D-
BUST. Schedule it, put it in your planner, and on
your to-do list. You won't have to do everything
hat I've been writing about, especially if you take
care of things, such as deleting or saving, as you go
along.
Make your computer work for you, that's what it's
suppose to do. It was meant to give you more time
NOT take up more of your time.
If you are stumbling around a program, take and make
the time to learn the program. If you have to refer
to the manual or call a friend for help every time
you try to use a computer tool, piece of software, or
hardware, it's time to take the time to get
professional help! Hire a high school kid, take a
class, hire a tutor, just get the help that you need.
Use the Help feature on your computer to learn what
you can about the software or program. If that's not
enough, read a book and do the exercises. You are
losing valuable time if you don't! Remember that
time is money!
By taking the time to D-BUST and learn how to use
your computer to its fullest, your computer and you
will be humming along in no time! <g>
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Have you gotten your * tickle * for the day? Check
out The secret organizing tool that ALL SUCCESSFUL
PEOPLE have at their fingertips at
http://www.overhall.com/tickler_file.htm
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
7. Ask the OverHaller
Q-"Many people tell me that I would make a great
organizer, how do I find out more about becoming an
organizer?"
--journey from clutter list owner
A-Check out my FAQ page at
http://www.overhall.com/faq.htm
This section is for you to ask any organizing
question you might have. Email questions to
mailto:janet@overhall.com?subject=AsktheOverHaller
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
8. Jokes, Quotes, and Anecdotes
~~ RANSOM, n. The purchase of that which neither
belongs to the seller, nor can -- belong to the
buyer. The most unprofitable of investments.
--Ambrose Bierce (1842 - 1914) US journalist,
short-story writer
~~ Sometimes your best investments are the ones you
don't make.
-- Donald Trump (1946 - ____) US businessman
~~ The best real-estate investments with the highest
yields are in working-class neighborhoods, because
fancy properties are overpriced.
-- Jane Bryant Quinn (1939 - ____) US
journalist
~~ If you have a joke, quote, or anecdote that would
fit well into OverHall IT!, please feel free to email
it to me.
mailto:janet@overhall.com?subject=newsletterjoke
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
9. Products, Books, and Web Site Reviews
The Basics of Investing Before You Begin, How the
Market Works, Basic Strategies and more can be found
at
http://www.etrade.com
I Hate Financial Planning at
http://www.ihatefinancialplanning.com
Get your Investment Questions Answered at
http://www.invest-faq.com
Home Based Business News:
It's campaign season. Shouldn't you know where the
parties stand on home-based work issues? Stay
informed with home business news from WAHMPRENEUR.
Lisa Heitman, of List-a-day Biz, writes: "WAHMPRENEUR
... is full of the news and information every home
based small business manager needs to know."
http://www.wahmpreneur.com
If you have a site that covers home-based work issues
or news, let me know and I'll try and post it here!
Organizer Link of the Month:
My email friend and fellow organizer, Nita, has a
great holiday tips page at her website at
http://www.organizetips.com
If you're an organizer and you'd like to be
considered for the link of the month, please contact
me!
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That's it for this month! Hope to see some of you at
our upcoming events!
Smiles, not Piles,
Janet L. Hall
Professional Organizer, Speaker, and Author
http://www.overhall.com
"If your current systems aren't working for you...
get an "OverHall"!"
Janet L. Hall is the owner of OverHall Consulting,
which is based out of Southern Maryland and can be
reached at 800-687-3040 or 410-586-9440, or e-mail
her at mailto:janet@overhall.com
Janet can
"OverHall" your office, home, and computer clutter
and can prepare a customized speech or seminar for
your next event.
Copyright (c) 2000 by OverHall Consulting
P.O. Box 263, Port Republic, MD 20676
All Rights Reserved. Permission is granted to
reproduce, copy, or distribute OverHall IT! or any
articles by Janet L. Hall so long as article(s) is
kept intact, this copyright notice, and full
information about the author is attached.
ISSN pending.
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