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Recent two week trip to Brazil

I have decided to put myself on the top of this list.

  This is an idea I received from a dear friend, who now is battling breast cancer for the second time.  How many of us continue to put everyone’s needs before our own only to remain frustrated and ofter exhausted that our own needs are not being met?

I am challenging everyone who reads this blog to join me in a “Self Care Experiment” for the next 60 days by putting yourself on the top of the list and creating a “self care routine”.  I have read lots of books on this topic, taken programs, purchased planners.  It seems like I start out enthusiastic, with the best intentions, and then life happens, and sooner or later, I end up at the bottom of the list again.  What about you?

There are three parts to this exercise. 

1. First of all take out a pen and paper, and list out all the things in your life that you are currently tolerating, that are simply unacceptable.  Then prioritize the list and just pick the one thing that would make the biggest difference in your life and start there.  We will come back to that list later, so don’t throw it away.  I am launching a new program in 2010, so stay tuned for details soon.
2. Now take action on that one item and start by putting that one thing on the top of your list and give it the highest priority every day by scheduling time in your planner to do this one item.  Plan everything else around this item. 
3. Next you are going to tell others (family, assistant, friends) that you are doing this one thing and ask them to hold you accountable and to support you.  Let them know how important this is for you.  Also, tell us what this one thing is and how you are going to make it work.

For me, this one thing is going to my Better Backs yoga class every single day.  The class is only 10 minutes away, and I can go attend at 8:45 or 11 am every morning, seven days a week.  So far, I have kept my promise to myself for the last three days.  It takes 30 days to create a habit, and I hope by going every day for the next 30 days, it will become a habit and a part of my daily routine, just like cleaning my teeth.

I believe that going to yoga will have the biggest impact on me because of the high level of stress I have in my life right now.  Besides running a business, and a household with two teenage girls, four cats, and two dogs, I have been caring for my mom with Dementia.  This week, my mom was put into Hospice so my yoga class has helped me focus on my breathing and remain more relaxed and focused.

Besides the reduced stress level, I look forward to seeing the physical changes in my body since I am going to Costa Rica in March.  I have another century to live, and I want to be in the best shape possible physically, mentally and spiritually.  I will be posting regularly to hold myself accountable. 

Today is my third day of going to my yoga class and I am so excited about how I am feeling.  I don’t see it as a chore, but as a pleasure…that’s why I am doing it every day.  When asked how he finds time to meditate every day Michael Beckwith says that his life revolves around his meditation.   

If you would like to join me in the “Self Care Experiment”, tell me what you are committed to.  The first step in any journey is the most difficult.  If you run into roadblocks, share them with me here, and I will help you work out solutions.

As 2009 comes to end, I find myself letting the year go with a sigh of relief.  Almost everyone I talk to has said this has been one of the most difficult years not just financially, but also emotionally.  What about you?

Let’s take a moment right now before we get swept into the flurry of parties, events, shoppping and festivities to make sure we start out 2010 on the right track.  Here are my top 5 financial planning tips.  I suggest that you get out your planner and schedule time for yourself to implement these…and here they are:

1)  Meet with your financial planner and or CPA to review your investments for any year tax planning opportunities.    If you own stocks or mutual funds, you and your advisor can determine if it’s appropriate to generate tax losses by selling specific securities to offset year end capital gains.  Even if you would like to continue to own a security long term, your advisor may recommend selling the security to offset taxible gains and then purchase that same security back after 30 days.

2)  Reveiw your asset allocation percentages for the appropriate mix of stocks, bonds, cash, commodities and real estate.   We all are aware of the importance of proper “asset allocation” to reduce risk in your portfolio.  Well now is is also the perfect time to also ask your financial advisor to run an asset allocation analysis to review the performance of your portfolio, (the risk you are taking vs. the return you have received) and to see if your portfolio is in line with your future goals and values. 

When I was with Ameriprise Financial, my partner and I would run an analysis using Morningstar software which gave us and our clients very objective information so we could manage both risk and reward during our client meetings.

3)  Begin gathering and preparing all your importnat tax and financial documents that you will need for filing your taxes in 2010.   Create a file that you can begin to place copies of all your year end donations as well as all the year end financial and tax statement that will begin arriving in the mail very soon.  This way you won’t lose any deductions or need to spend time later looking for important tax information.

4)  Consider maximizing any contributions to your IRAs, Roth IRAs, SEP IRAs and other employer deferred savings plans before year end.  You want to do this for two reasons:  first, contributions will be deducted from your taxable income for 2009, plus you’ll want to save as much as possible towards your retirement goals. 

5)  Lastly, ask your financial or tax advisor if it would make sense for you to roll your traditional IRA into a Roth IRA.  Roby Sawyers, CPA, Ph.D., an accounting professor at North Carolina State University suggests, ”Put your retirement money in Roth IRAs and Roth 401(k) plans.  With the huge deficits facing the country, it is hard to see how tax rates are going to do anything but increase in the future.”  Contributions to Roth IRAs are not deductible and grow tax free.

There is a second reason to take another look at the Roth IRA.  In the past, many individuals were unable to roll their IRAs to a Roth IRA because of income restrictions (they earn too much income), but in 2010, that all changing.   Be sure to sign up for my updates as I continue to share smart financial, business and life planning tips with you every few days.

Although this is a challenging economy, with the right plan you can make it work for you! 

Ask your questions right here, and I will be sure to answer them for you!  Remember, I am Certified Financial Planner with over 20 years experience helping people live with Purpose, Passion and Proserity!

Looking back over the last 25 years, it’s exciting to see how far we have come as women. I was watching Meet the Press on Sunday and was thrilled to learn about the new report just released by Maria Shriver and the Center for American Progress called, A Woman’s Nation, showing that women now make up 50 percent of the workforce and are the primary breadwinners for the family. (Four out of ten women are the primary breadwinners, while an astonishing 62.8 percent are “co-breadwinners.”)

We have been aware of these issues here at Smart Women’s Coaching and invite you to participate in our poll by telling us, “What is the Single Biggest Challenge Holding you Back from Living Your Perfect Life?”

In fact, we are just now launching our new Free Video Training and invite you to sign upto receive your free Twitter training video and Brian Tracy’s free report, The Way to Wealth.

The Smart Women’s Café is a forum where women can receive live coaching on their most pressing issues related to life balance, finances, time management and creating lifetime passive income while following your passion. Visit the Café now to learn what’s new!

I just finished the book called, “How to Retire Happy, Wild and Free.” In this book, Zelinski suggests retiring as soon as possible while you are still young and healthy and then finding ways to enjoy your retirement more by discovering your life purpose, pursuing hobbies and enriching your life. If you do work part-time in retirement, he suggests doing something that you love regardless of the pay.

While his book is focused on how to enjoy your retirement more, I have been inspired to use some of his suggestions for women in midlife who are still working but feel that they are really ready to write that next chapter of their lives. I have found that often when a woman has reached 40-50, if she has not found something that she is passionate about in her career; it begins to affect her entire life. Imagine what it would be like if you could create the ideal life of your dreams working at something that you love.

Ask yourself these questions:

• Are you crazy about your job?
• Do you wake up excited every day — passionate about your life?
• If money and time were no issue, would you still be doing what you are doing?

If you answered “no” to any of these questions, you may be ready for a major change. Zelinski states, “A few individuals are lucky enough to have had their career work and some passionate pursuit be one and the same. Thus, they can continue happily working part-time in their field well past retirement, without having to discover their true calling. Unfortunately, this is not true for most of us.”

Whether you are looking to retire early, change careers, start your own business or just want to make your life more interesting, consider doing some soul searching or assessments to discover your true passion in life.

There was a point in my life when I was working in a regular job, working 60 hours a week, day after day doing the same thing over and over. I hated it. I used to wake up and look at my husband and say, “Gotta make the donuts.” I cannot imagine living that way again.

How many of these statements reflect the way you feel right now about your work?

• I hate going to work and cannot wait to retire
• I spend everything I make and refuse to look at my investment statements.
• I hardly ever take a vacation. When I do, it takes me a long time to relax.
• I have no hobbies or interests outside work.
• I have no time for exercise or taking care of myself.
• Most of my best friends are from work and I don’t even like them that much!
• Most of my social functions are work related.
• I am proud to be a workaholic even though I know I am not that productive
• When I am home, I am restless or exhausted and can’t even imagine starting a hobby.
• I have a book in me that I would love to write some day, but know that I will never have the time.

If your work is running your life, consider the idea of reinventing your life to one filled with passion–where you can wake up every morning excited to start the day! It is possible, but it will take some work on your part to make it happen. Two years ago, I too was stuck and finally made the Leap and Retired To Something that I was Passionate about and started the Smart Women’s Virtual Coaching Café.  It’s been an amazing experience and I have met so many amazing people from all over the world.  They are now all part of our community as Contributing Experts!

Life is too short to live without passion and purpose. I have seen too many individuals work right up to 60 or 65 only to discover that their health is gone and with it–their dreams. One of my neighbors had been working overtime, six days a week, to maximize his pension. He was going to retire at 60 only he never made it—he died of a heart attack while driving home from work. He and his wife had a financial plan and she will be fine financially, but what good is a bunch of money if your dreams are crushed? Could he have retired 10 years earlier; could he have found something else to do for the last 10 years that was good for his health — that he loved doing and perhaps could do for the next 20 years if he chose? I believe the answer is “yes”.

Since it is very difficult to spend your last nickel with your last breath, it’s important to have a plan. I love the idea of retiring as soon as possible to pursue your passion and even earning an income from this passion! I have discovered this secret for myself and am in the process of creating multiple streams of passive income. In fact, I am teaching these principles for free to our Café members in my monthly Chat with Kat coaching call, as well as our Idea Lab entrepreneurial Think Tank and Joint Venture call.  It’s really amazing to be able to make a difference this way!

Begin to envision your ideal life…what would you do for free…what gets you excited and how would you like to spend the rest of your life? You are invited to experience two weeks free membership in the Smart Women’s Coaching Café where you will have a chance to learn, explore, grow and connect with some amazing people.  There is free, monthly, live coaching, resources, support and you even receive an audio CD by the De-Stress Diva and $875 in wonderful gifts when you take the trial membership!

We hope you join us in the Café!

~ With Gratitude,

Katana