It all good- until Money enters the picture....

IF you look back to the 1970's and 1980's, you will find instances of Anti-Nuclear protests.  Not against nuclear arms (Yes, there were plenty of those), but against nuclear power plants.  I was in Nuclear Engineering training when Three Mile Island decided to melt and have a steam explosion due to numerous errors at the plant.  If you were in such wnderful places like Saratoga NY, Charleston SC, Groton CT, Dunoon Scotland, or any of a hundred other cities around the world at any given time and asked where the nearest nuclear reactor- you would likely hear about the nearest COMMERCIAL reactor.  At any given time, there could be several reactors operating in Norfolk Va, Groton, Charleston, or land based reactors outside of Saratoga- none of which were usually noticed by the public at large.

For the countless years of operation of NAVAL reactors- nobody really talks about them because of their high standard of operation relative to commercial plants (Yes- I know all have had their problems- nobody is perfect).

When I left the Navy, I was deluded into the belief that commercial power was just like Navy Nuclear Power.  Strict attention to detail and safety first at any cost.  WOW- was I in for a rude awakening! Commercial plants are expensive, and they want to keep them up and running at any cost.  I saw the effect of a plant operated for profit rather than mission- and the much higher level of acceptable risk regarding their maintenance and operation.  I am not saying they are unsafe, but rather not up to the same level that I was used to.  When you put profit (money) into the picture, there becomes an immediate conflict of interests with regard to risk, safety, and other "overhead" items.

Perspective- From a much different angle...

When people learn that I served aboard submarines (and after the usual comments about claustrophobia and how did I fit in a submarine), they ask WHY I picked submarines.  My answer may surprise you, but it certainly lays a unique foundation that would impact my chosen career greatly.

During the Vietnam war, I remember watching the daily death toll given to us by Walter Cronkite in the nightly news.  I remember my mother saying that she prayed that I would never have to endure such an event.  As a young man, I pondered what I would really want to do if drafted when I became of age.  I knew one thing for sure- that men of high rank make decisions that place men of much lower rank in harms way (Like my father who served on LST-360 in WWII at Anzio, Normady, and many places I would not have wanted to be).  These high ranking (professional) people made recommendations and choices that assigned RISK to those people they made the choices for.  IF they made the wrong choice, however, the penalty for that wrong recommendation was paid for with wounds and fatalities of those brave men and women while they remained insulated and safe in their headquarters.

On a submarine, the Captain makes many recommendations and decisions.  Those items are carried out by many people of many different ranks and specialities.  The big difference is that the risk is shared equally by all shipmates- regardless of rank.  A poor recommendation can mean peril not only for the lower ranking sailors, but for the Captain and fellow officers as well.

In the movie Pearl Harbor, Jon Voight plays the part of President Franklin Delano Roosevelt.  The original idea for the Tokyo raid came to him from a former Submarine Commander- Admiral Francis S. Low.  After hearing the idea for the bold move against Japan, he comments in the movie, "I like sub commanders- they don't have time for bullshit and neither do I!"

My point is simple- submariners have a much different perspective on many things than do other people.  I place a much greater value on risk that the average person as a result of my Sub experience.  Risk is quite a different thing when it effects not only the end user of an idea- but also the originator.

My Story- Why should this blog mean something to you...

I know that I am an investor.  What I didn't know was that I am an investing consumer.  The same qualities that apply to the purchase of an automobile, a house, or even a loaf of bread apply to buying an investment.  Regardless of where you are using the investment, someone-somewhere has sold it to you, and numerous people (many of whom you have NEVER met) profited from that sale- period!

Other than fiction writers (which are allowed to make stuff up), I have always asked why I should read, listen to, understand, or act on the writings or teachings of others.  Simply put- what makes them so special?  It seems that everyone has a book, a YouTube video, or a blog.  Mine deals with investments, and we know there are thousands of those items out there.  What makes mine different?

The answer is two words- PERSPECTIVE and EXPERIENCE!  From the first day that I began my career in financial services, I have done so with one goal in mind- find a better way to invest my own money, and to share those lessons with others so that they might benefit.  A disclaimer is in order here- please understand that I will share actual and factual events that have occurred over the last 25 years.  I have the pleasure of knowing many wonderful, professional financial advisors and none of this is directed at them.  I have also, however, known many advisors who were motivated for their own selfish gain with little regard for the finances with which they were entrusted.  Unfortunately, it is almost impossible to tell them apart from the consumer position.

I will try to keep these postings at reasonable length to help you digest the benefits learned from a quarter century of full-time service in an industry that (for the most part) has their interests placed first, that of their representatives second, and those of the consumer-you- last.  Have a good read.....

A different way to learn about money...

Anyone who knows me is aware of my philosophy that I am a lifelong student (And that I love to cook...). I always keep an open mind, and seek to further my knowledge in all things. Fortunately, a byproduct of the many facets of education I have received has given me opportunities to be a teacher. In addition to educating people about their finances, I have taught classes on the operation of airplanes, operating nuclear reactors and nuclear chemistry, and many math related disciplines.

One of the fastest ways to gain knowledge about any particular topic is to find a totally different topic that most people understand and correlate it to our desired knowledge. At Smart Money Recipes, we use cooking as our analogy.

 Cooking, you see, is relatively simple but can be made very complex. Many of the key terms and principles of cooking  can be related to many of the key terms and principles of finance.  Let me give you a few examples:

Recipes compared to financial plans - a  recipe is a set of instructions on how to prepare or make something. A financial plan is a set of instructions on how to prepare for your financial future or make  certain goals a reality. I think you see the similarities.

Ingredients compared to components in a financial plan -  ingredients are  individual substances which are combined to create a specific mixture within a recipe process. Different investment vehicles, whether they be stocks, bonds,  Mutual funds, real estate, or other components are combined to create a specific portfolio within a financial plan.

Nutritional value compared to suitability-   nutritional value identifies those foods which are wholesome and provide the most favorable balance of essential nutrients  based on a person's biological needs. Correct financial stability identifies those investment vehicles which provide the most favorable  potential outcome based on investors needs, risk tolerance, age and other critical factors.

Recipe cost versus financial cost-   recipe costs are evaluated to determine if it is economical to prepare the recipe with ingredients of specified cost. This evaluation may show that the benefits from the recipe are not warranted by extreme cost. Financial cost, while not being a singular determinant factor, is evaluated to determine whether financial recommendations are economical for the benefit of the consumer.

As you can see, it's fairly easy to see similarities between  recipe cookbooks and financial cookbooks. Our goal is very simple - to create an educational platform is easy to understand and allow you to further your knowledge about your personal finances. We look forward to making the journey with you.

Not Happy with Your Retirement? Remember- It's YOUR Money...

The first rule of personal finance is to understand that your money is, in fact, your money! The ultimate responsibility for the management of that money lies solely with you. If you are unsure or unable to provide that management, you can enlist the help of professionals. Even with their help, though, the ultimate responsibility remains with you!

In times where you may be unhappy with the performance of your investments, it should not be a surprise that  a financial professional may not share your sentiments. You are the one who is losing money, not them. "Outsiders" almost never share the same passion that you have about a prized possession, a favorite pastime, or a loved one.  Money functions the same way.  The only way to level the playing field is for you to get involved by learning the basics of sound money management. You need to be able to communicate clearly your needs, risks, and tolerance for different scenarios, and expect simple, clear responses in return.

You must learn to ask questions about your money, and only be satisfied when you can understand the answers you receive. If you're not getting those clear answers, a new path may be warranted.

Allowing someone to have free reign over your financial affairs is like walking into a car dealership, announcing that you wish to purchase a new vehicle, signing a blank check and handing it to the salesperson.  I would never do that, and I don't think you would either.   With that sceario in mind, would it amaze you to learn that many people do basically the same thing when it comes to their retirement or investment programs?  Step one for sound financial management is for you to get involved because it is your money!

Welcome to SmartMoneyRecipes

Of all the places you could be on the web right now, we're glad that your here!  This is a place for sharing and learning about life in general, and that part of life that deals with finances.  This blog is an opportunity for me to share not only my experiences, but the experiences of literally thousands of people whom we have had the pleasure of knowing and working with.

With regards to our society, the greatest wealth is not Money, but Knowledge.  As I meet new people each week, they almost always want to tell me they know nothing about money.  Money is not complicated IF you give it a chance.  Don't start out as a failure in financial knowledge, start today by becoming a student, and learn that money is NOT complicated (although there are those who want it to be)!

In finance, as in life, one of the greatest compasses to guide you on your path is common sense.  Most poor decisions are a result of forgetting the basic truths in life.  Ignorance is not limited to the poor or the wealthy.  Knowledge, however, is equally boundless!

I love my work,and all of those whom I work with.  In today's world, that is becoming a rarity and I treat it as a true blessing.  One of my hobbies is cooking.  I enjoy the trial and error of creating new ideas for food.  A good recipe can be ruined with poor ingredients, and good ingredients can be wasted on a terrible recipe.  The third leg of a successful dish is cost.  Harmony comes together when the recipe is right, the ingredients are of the highest quality, and the cost of the dish is reasonable.

There are many parallels between cooking up a great dish, and cooking up a smart financial program.  From those ideals, SmartMoneyRecipes was born!  Welcome home to our little corner of cyberspace!