Book Report: The Great Money Reset by Jill Schlesinger
Jill Schlesinger is a CBS News Business and Financial Analyst, who wrote this book based on some of her and her clients (from a talk show/podcast she does) experiences.
The Great Money Reset is about planning in advance to maximize financial resources so we know if we need to take on another part time job, can possible take more leisure time, or own/purchase a modestly luxurious retirement home. Emotionally and mentally advanced finanial planning allows us to break through our fears and actually allows us to take some steps toward change. Proactively, hopefully 3,5,10 years in advance can allow one to see how they may need to sacrifice a bit, or do some hardwork on ourselves internally to position ourselves to move decisively toward our dreams when the time arrives or at worst, position ourselves to handle any unforeseen circumstances, indulge in new desires or enjoy more financial security.
Jill covers the basics from running through income and assests, to expenses and spending, to “bullying your boss” (a phase she uses loosely to ask your current boss/employer for some concessions or benefits financially or time wise), to making the right investment moves (mainly utilizing Roth IRA’s), working tax law to your advantage (mainly through charitable donations), evaluating your real estate, equity and corresponding market trends, to considering any necessary potential educational changes and whether you should start or sell or buy a business, all while communicating with your family, heading their advice and assessing before making your moves.
This book comes to me at a time in my life where I’m at some sort of “crossroads”. I have been incarcerated for two weeks of my sixteen month sentence and then facing two years of probation. My profession and what I did to provide for my family of eight has been stripped away from me in some regards and out of my direct control.
On the positive side, this has given me a “time out”, a time to reflect and do the really hard internal work of assessing “what do I really want in this next half of my life?”, and evaluating “am I truly happy and passionate about what I’m doing?”.
Our associate doctor and my two oldest children have now assumed the management and day-to-day operations of our practice and commercial property management. So what happens from here, positive or negative, is and isn’t in my direct control. At this time I still feel I have a gift as far as the natural healing arts go and I would like to return to that setting in the future to continue to share what I have to offer with our community. However, if God has other plans for me and my life I’m open to that too!
Financially, the investigation, the case against me, the defense, restitution, fines and lost opportunities over the span of these last five years has cost me $1-2 Million dollars. We sold our house (currently renting), so we really need to determine where we want to live considering businesses, ageing parents, children and potential grandchildren and where we might find the most joy, passion and purpose.
