"Miss Julie" is a rather sad read/Finance

I thought it would be among the more humorous lines of "Tartuffe" by Moliere, but it was definitely not. It started out somewhat humorous, but took a dramatic turn by the end of the story. The story really is about Miss Julie: her likes, her dislikes, her loves, her hates, her fears, her desires, her contradictions. She first comes across as a manipulative, selfish young lady, who tricks men into doing her bidding for her. It is discovered during the story that Miss Julie has come by her personality because of her mother, who has empowered her to not be controlled by any man. However, she has also done her daughter a disservice; Miss Julie does not know how to love the men in her life properly. She hates them, yet has a weakness for them. She also wants to be common like her mother, yet not lose her importance in society (her father is a Count). It really is a good read, at any rate.

In Finance 410 this week, we're discussing the importance of a power of appointment. A power of appointment is a necessary, important part of a will that will allow someone other than the client/estate holder to make decisions regarding his or her estate and any other properties. This is necessary to diffuse family disagreements and other potential entanglements with regard to the client's estate.

It's about that time again....

It's time to register for the winter quarter (I plan to do so tomorrow). So start thinking now about the classes you want to register for, and then hop to it (especially if you want to avoid the late fee and you're an online student). This is my last quarter, as many of you who've been following my blogs know, and I have to register for my internship, as well as the other classes that I'll need. I've already sent in my letter from my employer, which is where I'll be doing my internship (hopefully). I'll be performing duties that pertain to my field of study, which is finance. So I'll be doing cash handling and accounts receivable functions, mostly (perhaps I'll even learn how to run charges).

Speaking of finance, I'm really enjoying my finance courses this time around. Finance 405, which pertains to retirement planning, is of particular interest to me. This is something that is constantly being discussed in today's society, and I want to be prepared when the time comes for retirement. I also want to be an effective financial planner when it comes to helping people manage their finances today for a better retirement tomorrow. Being armed with the right information can make a world of difference when it comes to saving and planning for a rainy day, even with regard to education (if I'd known then what I know now, I'd have planned smarter; but it's never too late to educate yourself). Also, it's nice to know that a lot of the information pertains to real-life situations that I may have personally experienced, so I'm able to get more out of the information.

I'm also really enjoying this drama class (Humanities 310). I get to express myself and my views on the readings that we're being assigned. Even when I think I've missed the mark, the professor is very encouraging. His comments really push us to delve beyond the first impressions.

Miss Julie/deathbed gifts of property....

So for the next weeks, we're considering "Miss Julie" by August Strindberg; this, also, is a very good read. The main characters seem to be Miss Julie, Kristine (her cook), and Jean (her valet). The character analysis given Miss Julie is but one layer of a very complex individual (read: looks can be deceiving). She appears manipulative, charming, and vulnerable, all at once. It is Jean who offers the biggest surprise, who shows the audience his true self further into the reading. Or maybe I'm wrong; I've only read the first few acts. Maybe there's more complexity with Jean, as well. Kristine seems taken by Jean, yet doesn't allow herself to be manipulated by him, as she knows he also pines after Miss Julie.

So this week in Finance 410 (Estate Planning), we learned about ownership (the different types of ownership) and transfer of property. So the discussion board question was: if your client decided on his deathbed that he wanted to give his beachfront property to his pretty nurse, was this valid? Could he actually approve such a transaction? The answer, of course, was no; real property could not be disposed of or transferred in such a manner. The individual would have had to make out a will to decide who would get his or her real property, such as homes, businesses, and beachfront properties. The reason for this is because the individual would have had to be in his or her sound mind when making such a decision, so that it would be reasonably clear to all involved that the financial planner and estate executor acted in accord with his or her wishes. So just because someone was kind to you in your final days, it doesn't mean that you can simply allow him or her to have your real property.

Behavioral finance....

In Finance 405 (Retirement Planning) this week, we're discussing the concept of behavioral finance. Behavioral finance is defined as "a field of study that applies the use of scientific research techniques to understand social, cognitive, and emotional biases that affect and influence economical decision making and is concentrated on the decisions of individual and collective economic agents and study whether the decisions they make are entirely rational or seem to lack rationality.

In other words: are financial choices made rationally, or are they made out of emotion? For instance, when we choose our investments and our savings plans, do we tend to "play it safe" out of fear of current market conditions? Do we make only the minimum contributions towards our futures, reasoning that we don't want to put all of our money into investments and/or savings plans that seem risky? At first glance, this seems like smart, reasonable planning; after all, having watched the market and the economic crisis that has swept the nation (that almost rivals the Stock Market Crash of '29 and the Great Depression shortly thereafter), it would be considered foolish to put money into a risky investment or savings plan (such as a 401(K)). However, what happens in the long run is that individuals often find themselves ill-equipped at retirement and that they cannot take it easy the way they imagined they would. So it pays to do research and make the best decision based on investigating and weighing the pros and cons of any type of investment or savings plan. This way, you'll always make the decisions that are rational and provide a buffer for you at retirement.

Love doesn't hurt!!!!

Let me say this again, Berkeley students: love doesn't hurt. As I posted earlier, this month is Domestic Violence Awareness Month (also Breast Cancer Awareness Month), and we at the Healthy Cafe online club are discussing domestic violence of all sorts: violence against men, against, women, and against children. We are also discussing ways in which the victim can get help, as well as how the abuser can get help.

There's an ongoing poll on Blackboard right now with regard to domestic violence, and the poll results are showing that a little more than half of those attending our campuses right now have been the victims of domestic violence at some point. This is completely unacceptable and inexcusable. We need to arm ourselves with the necessary information so that we are able to protect ourselves and our loved ones, including pets. I mention pets because during other research on domestic violence, it has been shown that the victims of domestic violence can include our pets. Think about it: if a man (or woman) can hurt you without blinking an eye or showing any remorse, what about a voiceless animal who oftentimes cannot defend itself against violent blows--from either an abusive owner or an owner's abusive significant other?

Also, with regard to children: if we notice that a child is behaving aggressively toward other children, we want to watch for signs that an adult may be abusing the child. Perhaps if the child is mimicking behaviors during playtime that are indicative of what is happening to him at home, a trusted adult could be notified, and the situation given the proper attention. While this may not necessarily be true of all children (some children may mimic what is shown to them on television), it is worthy of concern.

It's week 4 already?!?!

What happened here? I guess that's what happens when you're busy keeping up with your school assignments and notes and preparing for tests. I have to finalize my internship details and get registered for the next and final quarter of my school career here at Berkeley. It's been an amazing journey, I must say. It's not been without its challenges, but I am not a quitter, and I think I proved that to myself and others close to me.

I just took my first test for Finance 410, and I got an 85 out of 100. I probably would've gotten a higher grade if I'd put it just a bit more study, but overall, I was satisfied with my performance. And considering I was sick over the last couple of days, I think I did pretty well. It was about estate planning, the legal procedures that have to be followed, and really who should be considered candidates for estate planning. It also covered how to avoid unauthorized practices of law, as well as malpractice suits. Sometimes a financial planner, with the best of intentions, can overstep his or her balance in his or her zeal to help a client, and this could backfire and have disastrous results. This could result in a lawsuit and tarnished image not only for the financial planner, but for the firm he or she represents. This information will certainly help me in my career as a financial advisor on how to handle a client who wants a service that I may or may not be qualified to perform; I will avoid costly mistakes by performing only those services for which I am qualified and/or licensed.

Tartuffe the RAT.....

So I finished reading "Tartuffe" by Moliere for drama class, and all I can say is: What a SNAKE!!!! What could've occurred because of misleading foolish, blind Orgon is stopped in its tracks by the end of the story, but Tartuffe is an example of those "friends" who can't be trusted. He had turned Orgon against his entire family and gotten him to sign over his estate to him, as well as promise him the hand of his lovely daughter Mariane (who balks at the suggestion that she should marry Tartuffe, for she is in love with Valere and hopes to marry him instead). When Tartuffe makes a pass at Elmire, Orgon's wife, their son Damis angrily confronts Tartuffe and tells Orgon what has taken place. True to form, however, Orgon refuses to believe that his good friend--indeed, his spiritual brother--could do such a thing, and Damis is disinherited and dismissed.

Elmire talks with Orgon and tells him that Damis was telling the truth, and she gets Orgon to witness Tartuffe's treachery and deception firsthand. When Orgon angrily confronts Tartuffe, Tartuffe turns on him and tells him that there's really nothing that he can do about it, since he's just about signed his life away to him. Orgon, overcome with guilt and, no doubt, hurt, wonders how he could've been so easily duped by a character like Tartuffe. So what happens to Tartuffe in the end? Well, you'll just have to read the story, won't you? I can't give it ALL away, but let's just say that everyone gets what they deserve. ;)

Updating my profile/Tartuffe.....

Hey there, fellow Berkeley College classmates and bloggers!!!! You'll notice I've updated my profile and added a new picture. If you want to know why I look so serious, it's because I was actually studying something on my computer. But I wanted the readers to know who they were talking to; besides, the picture that accompanies my bio is a few years old, and I wanted something new. Ironically, I have on the same shirt that I had in the other picture.

So we're reading "Tartuffe" by Moliere in Drama class, and I must say, it's a funny read (I recommend it highly if you haven't already read it). It's about a man named Orgon who allows himself to be duped by a man named Tartuffe, who puts on airs of piety and righteousness--which everyone else seems to see. Orgon counters that those who are saying bad things about Tartuffe are themselves the ones who are wicked and in need of spirituality and religion, that Tartuffe is a fine man. It really is quite amusing to read the expressions of derision, sarcasm, and outright dismay that the others seem to hold for Tartuffe. I look forward to the continued reading of Tartuffe just to see what happens to him (is his scheming uncovered? Does Orgon open his eyes?).

Defined benefit vs. defined contribution plans....

This is the topic we're discussing this week in Finance 405 (Retirement Planning). The surface question is: What is the difference between the two? The more interwoven question is, Which one is right for the employee? Well, as we've discovered and discussed, the defined benefit plan is a retirement plan where the employer sets up contributions for the employee and takes so much out of a paycheck. This account cannot be touched until the employee either retires or is terminated. Also, the employer assumes the entire risk for the account.

The defined contribution plan is a retirement plan where the employee can opt to have so much taken out of his or her pay and put into a 401(k) plan, and the employer usually matches it up to a certain percent; however, the risk falls ENTIRELY on the employee and there can be great gains made or great losses suffered as a result of investment choices.

Now we come to the question: Which one does the employee choose? The defined benefit plan is a more stable plan, and it is based on length of service and employees who choose to stay with the employer may opt for this plan vs. a 401(k) plan. The defined contribution plan is more suitable for employees who are probably not as likely to retire with the company and want the ease of rolling over their investments into an IRA or other retirement plan. It is based on age at the time of entry and level of income.

So when you do your retirement planning, get all the information you need about what retirement plans most likely fit your needs. And it always helps to provide a buffer; we know that social security and your retirement plan alone may not be enough to satisfy retirement needs. An additional savings account may be necessary to help bridge some of the financial gaps you may face.

Domestic Violence Awareness Month....

So this morning, I logged onto Blackboard and checked out the announcements for trips and other special events going on for the upcoming quarter. One announcement in particular was regarding domestic violence and how this month is Domestic Violence Awareness Month. There were discussions about it on the Healthy Cafe discussion boards. One of the topics was entitled "Love Doesn't Hurt!!!"

The question was also asked: Does the victim "deserve" what he or she gets when someone who claims to love him or her lashes out in an abusive way--either verbally or physically? Referring to the Chris Brown/Rihanna situation, did she "push" his buttons--or did he have control over his actions? And more importantly, if he suffered abuse by watching his mother being physically abused as a child, will it turn up in destructive ways if it is not dealt with by talking to a therapist or other trusted adult?

This question, maddening as it may seem (to me, too), is important, because some in society feel that if only the victim wouldn't "do" certain things to make the abuser angry, then he or she wouldn't do it. This assigns blame to the victim, rather than encouraging both the victim and the abuser to seek help (the victim in a support group; the abuser in a therapy or other session) and more often than not encourages a cycle of violence to continue. The abuse has to be confronted in order for the cycle to start to be broken.

So far, so good....

I really am enjoying my classes this quarter and really enjoying the discussions that we've been having, particularly in my finance classes. I'm also seeing some of the same names associated with the finance classes that I'm currently taking and the classes that I've taken in the past. It was like one big class reunion, reading some the postings on the discussion board. And I really connected not just with the students that I've taken classes with in the past, but this time with the instructors; and I think it's reciprocal. Can't believe that Week 1 is done already. I've already submitted two assignments for grading; I hope I did well, as I tried my best. The one assignment that I submitted had to do with the ten common mistakes in estate planning.

Now I know that I've been mentioning what I've learned in estate planning quite a lot, but I cannot stress this enough: it is SO important to be prepared should you become incapacitated and need someone to handle your affairs. So many people either do not realize the importance of a will or legal document, or they assume that everyone will know how they want their property/assets split up upon their death. This is not the case; if there is no legal document stating how you want your affairs handled, the executor of your estate will handle affairs as he or she sees fit. And there really isn't any excuse; there are documents on the website that can help you in this regard. I'm excited to learn about these procedures, for I feel that they will help me not only in my professional field as a financial advisor/planner, but also in my own personal financial endeavors.

Same thing with retirement plans and social security; I'm sure that many understand that in this day and age, social security will NOT be enough to get you through your retirement years. So it is necessary to put aside monies in a savings account, but also to have a suitable retirement plan that meets your retirement needs. And there's no time like the present for planning. Even if you're past the prime of your youth, so to speak, you can still plan ahead for the future. "Better late than never" is certainly applicable in this instance; you don't want to not plan ahead because you feel it's too late.

Think of discouragement as a roadblock....

In my conversations with people, I've come to realize that as well-intentioned as their comments are about me going back to school, they can become roadblocks. When I decided to go back to school and I enrolled in Berkeley College, I was met with well wishes and congratulations. However, some people have made kind, but somewhat discouraging remarks, such as, "I don't see how you do it all" or "I know I couldn't do it". It's that type of thinking that makes me wish that they wouldn't say anything at all.

At the same time, though, it makes me more determined than ever to finish school and get a career in financial planning. And if some young person was carrying a courseload and working two jobs while caring for a dependent, I would encourage them to continue right on (and to go to Berkeley, of course). I also want to say to those who may have dropped out of college due to self-discouragement or discouragement from others, now is the time to get back into school and change your circumstances. This is precisely what I'm doing at Berkeley College. In going to my niece's back-t0-school night last night, what I learned is that the teachers love teaching, which means their students love learning. I even learned that one of my niece's teachers is currently in college right now, and I thought to myself, If it's important for this man to be back in school to round out his teaching curriculum, then I should be motivated to do my best in school, as well.

With that said, I hope to take advantage of the Academic Learning Program should I ever need to. It could've improved my Algebra grade tremendously, but you live and learn. So my message to you today is to remove all mental roadblocks--friends who criticize you for continuing on to college, family members who may not have finished their own college education, well-intentioned people who unintentionally make remarks that could dissuade you--and focus on learning.