Disqus - Latest Comments for Heidi at BankerGirl

Re: Personal Finance Advice: One Size Does Not Fit All

Heidi at BankerGirl — Tue, 26 May 2009 00:02:52 -0000

Amen!

I work in marketing for a Fortune 500 financial services firm and my job is to give pre-retirees the education, tools, and advice that they need to be ready for retirement. I'm fairly certain that I know just about every investment product, tool, and "program" in the retirement income planning space - there' s lots of cool stuff out there - but the advice I give my family and friends is to find a good CPA and/or tax attorney and/or certified financial advisor and create a plan that suits your unique needs, personality, and situation.

Re: The Recession Finally Hits My House

Heidi at BankerGirl — Fri, 03 Apr 2009 17:18:43 -0000

I was just hit with a 7% salary cut about two weeks ago - your new salary is nearly identical to mine - I went from $78k to just over $72.

I am very grateful to have a job, but my husband and I have spent the last couple of weeks tweeking our budget so that our efforts to aggressively pay down debt aren't derailed.

I've also started freelancing (strategic consulting) and am still evening teaching courses at area universities, but those opportunties are much fewer lately.

Best of luck as you work through this!

Re: Sleep Makes You Healthier and Smarter

Heidi at BankerGirl — Wed, 27 Aug 2008 09:47:03 -0000

I could use a nap right now.

I have known for years that I function better with the proper amount of sleep - I'm one of those people who needs a lot of it (8-9 hours is ideal). I have been struggling lately because work and wedding stressors keep me up (rolling tings over in my mind) until 2 or 3am. It's frustrating to be aware that I'm not getting the rest I need, but I also don't want to use sleep aids.

Re: Twitter Poll: Do You Work in the Same Field as Your Degree?

Heidi at BankerGirl — Tue, 19 Aug 2008 22:46:51 -0000

I'm late to the party.

BA, Communications
MBA, Finance & Market
Working as a strategist in the pension department of a Fortune 500

Re: How Much The iPhone 3G Really Costs You

Heidi at BankerGirl — Wed, 11 Jun 2008 10:18:56 -0000

I bought the 16G i-phone when it became available (and paid *ahem* $500 for it), and it was one of the best puchases I've ever made. I love the mapping features, the abiltiy to approve blog comments from anywhere (I don't admin my blog from my office PC), and calendar.

I was already with AT&T (Cingular, actually), when I purchased the phone - I have the most bare-bones plan - and the i-phone caused my wireless bill to go up $4.95 - that's $30 a year that I feel is totally worth it. I just wish that I'd waited for this new version before jumping on the bandwagon - the extra speed would be nice.

Re: My Newest Bank is Changing Names: TD Commerce Bank to Update Branding Later This Year

Heidi at BankerGirl — Wed, 28 May 2008 16:53:40 -0000

I went to a conference with some TD Commerce product developers and product managers earlier this year - based on what they told me, their biggest concern about the Commerce acquistion is the service level customer's expect. I suspect that over the next couple of years, your going to see either an increase in fees (those coin counting machines are expensive to maintain), or a drop in service. Profitability and margin are a big deal - especially in this economy. I bet they keep giving out the doggie biscuts, but you'll see cuts in other areas.

Re: Where Is the Place for Irreplaceableness in the Work Environment?

Heidi at BankerGirl — Thu, 08 May 2008 10:15:08 -0000

I agree with the jON above - if you make yourself irreplacable in your current role, they you can say 'buh-bye' to promotions.

Everyone is replacable - good team members who are eager to learn and share what they learn will have a nice career arc. Those concerned with making themselves irreplacable will be slaves to thier current positions until they retire.

Re: Your Job as Your Identity? Not For Me, Thanks

Heidi at BankerGirl — Tue, 29 Apr 2008 10:19:23 -0000

I am not sure how I feel about this post, not because I don't agree with you, but because it’s caused me to reflect on my own work and life choices.

Unlike you, I never knew what I was good at. I did well in nearly every subject in school (except algebra), took advanced placement and accelerated classes, and yet had no idea what I wanted to do with myself. I played the piano and sang it the choir, but wasn't a stand out. At 5'10" you'd think I would be a natural basketball or volleyball player, but I was rather clumsy and awkward. I was great at debate, but didn't know what to do with that either. I sailed through most of my undergrad and master's coursework, but nothing ever made me feel "alive".

So, I work a job that I very much enjoy, but is not a "passion." I'm good at it. I have a talent for seeing the big picture and thinking strategically, and I hope that I continue to learn and grow into a formal leadership position at or another financial services firm. I care about climbing the ladder and (I'm ashamed to say) all of the politics associated with that.

I am defined, in large part, by my title and salary, and I'm ok with it, but I have to admit that the work isn't satisfying in a way I would imagine finding a "true calling" would be. I find solace in the fact that I can use my talents and connections in my non-profit work - making a difference in my community through the agencies to which I provide leadership, and for now that has to be enough.

Hopefully, I'll figure out "what I want to be when I grow up" somewhere along the way.

Hmm. I wonder if great business leaders always knew that they wanted to be at the helm of a firm, or if it's the kind of thing that just happens as one tries to find their true calling?

Re: Ethical Consumerism, An Introduction

Heidi at BankerGirl — Tue, 22 Apr 2008 09:45:03 -0000

Excellent post!

Thanks for posting this – sometimes people don’t think enough about where there dollars ultimately end up. I love my CSA (started getting eggs and asparagus this week) and I have participated in several moral boycotts in the past (and I still won't shop at Wal-Mart). I hadn't heard of the Adidas thing...

Money really does talk.

Re: Question for Tax Day: How Would YOU Reform the Tax Code?

Heidi at BankerGirl — Tue, 15 Apr 2008 23:21:23 -0000

Well, if I can't have a flat tax or a simpler tax code, I would like to at least be able to write off my student loan interest. The reason I make enough money so as to not qualifiy for the deduction is because I have a MBA, which I financiced with - you guessed it - student loans.

Re: Giveaway: $100 Gift Card for SmartyPig, a Unique Savings Account

Heidi at BankerGirl — Tue, 25 Mar 2008 12:04:10 -0000

I know quite a bit about this product and the bank (West Bank) - a couple of former colleagues work there.

I'm not wild about fees, but since I am getting married later this year, I'd set up a SmartyPig account if I had $100 to seed it.

Re: FDIC Expects More Bank Failures But Foreign Governments Are Bailing Us Out

Heidi at BankerGirl — Wed, 27 Feb 2008 15:55:45 -0000

I heard about this! For depositors that keep more than the FDIC limits in their bank accounts, I recommend asking about surety bonds (several banks offer them for high balance customers) - or open accounts at multiple banks and keep your balances under $250,000/$100,000.

Re: Put Your Savings in Hyperdrive, Part 5: Hide Your Savings From Yourself

Heidi at BankerGirl — Mon, 21 Jan 2008 13:32:01 -0000

Excellent tip! I plan on hiding my annual bonus this year (short term CD) until my wedding.

Mccy - I often recommend laddered CDs to clients who want to be able to access their cash in regular intervals and want to avoid market risk. This is an especially wise strategy for those in or nearing retirement. Current market conditions are driving more people to a bank/guaranteed soluion.

Re: Helping Mom Retire, Part 1: Conquering the Stack

Heidi at BankerGirl — Fri, 18 Jan 2008 10:39:08 -0000

It's awesome that you're doing this with/for your mom. I work in the retirement services industry and it's shocking to me how many pre-retirees haven't given the "decumulation" or asset spend-down part of retirement any thought.

Investment aggregators are priceless in this stage of life - happy to hear that you have her set up on Yodlee.

Re: Midweek Roundup: Welcome Consumerist Readers

Heidi at BankerGirl — Wed, 09 Jan 2008 08:32:14 -0000

Thanks for the mention! Budgeting is hard - I'm sure that sticking to it is even more difficult. Hopefully the results will pay dividends.

Re: Ken Jennings’ Quote of the Day and What Would You Do With $1.5 Million?

Heidi at BankerGirl — Tue, 08 Jan 2008 11:47:26 -0000

I wouldn't worry too much about FDIC limits - you'd be amazed at how many individuals and businesses have millions in a single bank.

I'd pay off my $260k in debt, put $100,000 in a high-yield savings or money market, buy an acreage for my private residence, and start a youth camp on some property my family owns.

Re: Here Comes the Roth 401(k)

Heidi at BankerGirl — Mon, 10 Dec 2007 12:14:20 -0000

My employer also offers the Roth(k) and I have been doing some scenario planning as well.

Thanks for the link to the calculator! Much better than the spreadsheet I slapped together myself.

Re: Math Anxiety Could Hurt Your Finances: 5 Ways to Get Over It

Heidi at BankerGirl — Thu, 06 Dec 2007 12:14:00 -0000

This is totally me! I changed my undergrad major from Marketing to Communications in order to avoid having to take stats and accounting!

I really started taking control of my finances when I started teaching Financial Management at a local college (the irony is not lost on me).

Another thing that is scary is owning up to how much debt you actually have. It's fun to manage finances when you have a postive net worth - but I used to go months without looking at my credit cards statements because I preferred to be in denial about how much debt I had acquired.

Re: Personal Income Statement, November 2007 (Net Income: $5,982)

Heidi at BankerGirl — Mon, 03 Dec 2007 11:30:40 -0000

I'm a new reader, so forgive me if you've answered this is a previous post:

What do you do with your net income? Do you have any rule of thumb that you follow (for example, spend 20%, save 30%, invest 50%?). I have noticed that as my NI increases, so does my "discretionary" spending. How do you control this?

Re: the simplest actions have profound effects

Heidi at BankerGirl — Tue, 20 May 2008 15:08:32 -0000

Excellent list! I didn't know that a shower used more water than a bath (I always assumed it was the other way around).

Also, I have to second Telly's commend re: foam cups. I have always felt extremely guilty about my use of foam, thanks so much for helping me clear my conscious.

Re: a desperate addiction

Heidi at BankerGirl — Thu, 31 Jul 2008 10:34:27 -0000

I too, am a recovering addict. We don't have cable TV, so I get most of my "news" online and in print. I spend way, WAY too much time reading political blogs and surfing online news sources.

I've come to the same conclusions - nothing is going to change my mind, or my vote, at this point - so I need to step away from the propaganda and start being productive.

It's easier to write than it is to practice.