Category: Self-employed

Self-employed

Presence

Amy Cuddy’s TED talk “Your body language shapes who you are” has almost 32 million views as I write this.  The research she shares is fascinating:  That how you hold yourself physically–your posture, your presence–can affect not just how others see us but also how we see ourselves.

Late last year, her book was published.  Entitled “Presence:  Bringing Your Boldest Self to Your Biggest Challenges”, it’s prompted me to think about how I hold myself and how her work applies to clients.  Cuddy says that we can use our bodies as a tool, essentially, to help us get ourselves on track in terms of presence and personal power.  To quote her:  “The body is continuously and convincingly sending messages to your brain and you get to control the content of those messages.”  In that case, it pays to be aware of how you’re holding your body–tall or slumped, shoulders back or hunched up, body opened up or closed in–if it can influence your brain to make empowered decisions.

In my work with clients, I get the privilege being a part of decision-making around some very emotionally complicated issues:  money, marriage, and legacy.  Cuddy’s work is interesting to me as a technique–a “hack”, if you will–to help clients situate themselves in a way that supports making wise choices for those things.  Give it a try and see if it helps.

Post-script:  Amy Cuddy will be speaking in Seattle on March 16.  See her in person and–I imagine–watch her model what she describes.  Event information is here.

 

Money/Self-employed

Year in Review

A useful practice I’ve found for this time of year is to review what’s happened since January 1, and to think ahead to what I’d like to see for the next year.  I’m not sure when my own practice of this originated, however I recommend it enthusiastically.

With financial coaching clients, we we start by looking over their spending record for the year.  Clients will share what they’ve noticed, what went as expected, and what went differently than they’d expected or hoped.  We also talk about clients’ most significant accomplishments around money, what they’re proudest of.  And, for balance, we also talk about clients’ most significant disappointments.  These observations are all raw material for building a strong plan for the coming year.

When we look ahead to the coming year, we consider what one thing will be most effective in helping a client meet her/his financial goals and what one thing is most important to stop doing.  We talk about the financial goals that the client would like to achieve and what behaviors they want to shift.  And we talk about what internal, self-limiting beliefs a client might want to address.

This approach could work for many things in our lives, of course.  Money is a useful lens for me because so many choices tie into money.  Happy reviewing, and best wishes for your ideal 2016!

 

Self-employed

This is a “Small Win”

It’s coming up on almost six months exactly since my last post.  Yes, I am still alive.  And working.  And blogging.  It’s just that I got kind of distracted earlier this year with the birth of our first child.

In those last few days when my time was still my own, I had a chance to read Karl E. Weick’s thought-provoking article “Small Wins:  Redefining the Scale of Social Problems”.  A small win in Weick’s world is a controllable opportunity of modest size that produces visible results and can be gathered into synoptic solutions.  Published by the American Psychologist in 1984, the concepts in the piece are just as relevant today. 

Here’s what grabbed my attention about the magic of small wins:

“Once a small win has been accomplished, forces are set in motion that favor another small win.  When a solution is put in place, the next solvable problem often becomes more visible.  This occurs because new allies bring new solutions with them and old opponents change their habits.  Additional resources also flow toward winners, which means that slightly larger wins can be attempted.

It is important to realize that the next solvable problem seldom coincides with the next ‘logical’ step as judged by a detached observer.  Small wins do not combine in a neat, linear, serial form, with each step being a demonstrable step closer to some predetermined goal.  More common is the circumstances where small wins are scattered and cohere only in the sense that they move in the same general direction or all move away from some deplorable condition.”

When I read this article, I thought of my clients, both my law clients and my financial coaching clients.  Clients that I work with in either of those aspects are often negotiating a big change that might seem unmanageable.  I have encouraged clients to take a “problem solving” approach and think about one thing at a time; Weick’s piece provides some theoretical basis for why that might be helpful.

Today, though, I’ll admit that I thought of myself.  This post is a small win in my own efforts to navigate the terrain of self-employment and parenthood.  I’m blogging for the first time in months, doing abstract thinking and writing for…dare I say…fun!  I can’t predict what will follow from taking this step; if Weick’s theory holds true, though, something will follow that will ultimately move me in the direction I want to go in this new landscape.

Estate/Financial Planning/Legal Separation/Divorce/Self-employed

Your IRA in a Divorce

This “Tax Talk” question on the Yahoo Finance site does a pretty good job summing up important information on dividing an IRA (“individual retirement account”) in a divorce.  This is sometimes a tricky topic for clients.

In a divorce, the first issue is what is legally-appropriate division of the retirement account, if any.  Sometimes it’s preferable for a divorcing person to keep the entire balance of a retirement account and for their spouse to receive other assets to create an equitable settlement.

If you do decide to divide a retirement account, the process to divide it differs depending on what kind of account it is.  Some divisions can be accomplished simply by stating what each person gets in the final decree and then notifying the account holder; for some accounts, like a 401(k) account or a pension plan, you will likely need a court order to divide the account.  This is one of those things that it’s worth discussing with an attorney because there are some seemingly small details in those orders that can make a big difference!