Saturday, February 15, 2014

Don't Ignore the Money Talks

Just as a company without a viable operating budget will not last long, the same I believe is true for couples.  In fact, the stats show that over 50% of businesses fail within their first 5 years, and over 50% of marriages fail within their first 7 years-- coincidence?  I think not.

If you don't have sufficient income to meet your expenses, this is a huge problem, and it will undoubtedly cause a ton of stress in your life.  If you are part of a real partnership, there is no need to feel like you have to take this all on yourself.  Be honest and communicate your concerns with each other.  For your relationship to work, you have to be able to play off each other's strengths and feel like you are a team with each challenge that arises, and money is a huge one for most families.

Ignoring difficult money talks and/or borrowing from credit are simply delay tactics, not real solutions.  Sadly, every day in my divorce cases I have to re-train people to balance their own budgets and live within their means, and often their problems are compounded by years of accumulating debt without any real financial plan in place.   Sometimes, bankruptcy (which is the option of last resort) is really is the only option-- and the more I have witnessed these financial train wrecks in the last few years, the more adamant I've become about trying to change people's mindsets about money, before it is too late.

When I'm "off the clock," I try to do my part by teaching my son, and his peers through Junior Achievement, about financial literacy and being fiscally responsible.  Hopefully, by learning these key concepts at an early age, they will be more apt to have honest discussions with their life partners about money and maintaining a realistic household budget.  As for the grown-ups, I believe it's never too late to start trying to kick some bad habits.    Here's a helpful link to my recent interview with Peter Kenny of Merrill Lynch about the importance of financial planning for couples:

http://www.youtube.com/watch?v=WgkWkU-6Rgg

Thursday, February 13, 2014

Make the Most of Your Own Valentine's Day

Twenty years ago, a dozen long stemmed roses arrived in my college dorm-- half a dozen white for friendship, half a dozen red for love.  That night, my date arrived from New York and took me to Sequoia's for dinner on the Georgetown waterfront.  I still have the note that came with those roses, and a picture of what the bouquet looked like when it first arrived, along with many cherished memories of our romance that lasted over a decade.

Although our marriage did not last, we have a child that we continue to raise together, and ever since the divorce, I have fortunately had my son each year as my special Valentine.   With him, I've learned the importance of just acknowledging the day without going over-board.  So, regardless of whether there has been a love interest in my life around Valentine's Day, I have always made sure that we have a special meal, flowers, and of course, chocolates.   And once he ceases to want to spend his Valentine's Day with me, which is an imminent reality that I am well aware of, I'm going to continue with this new tradition of treating myself on V-Day because the fact is I've found it to be rather empowering to be able to reward myself on special occasions without relying on anyone else to make my day.

Let's be honest, who knows you better than you know yourself?  No one.  You know what flowers you like, which sweets you prefer, and what your favorite meal is.  You know what movie you are really dying to watch or the book you can't wait to read.  You know your own style and what outfit is going to make you feel sexy.  So, unless you are super clear about what you want, others will always fall somewhat short of your expectations because they cannot get inside your head.  As a result, I suggest you give people an A for effort, but if you want to fool-proof a special moment, plan it yourself.

Truly, V-Day is what you make of it, along with every other day of the year. Hopefully, we all tell our  friends and family how much we love them not just once a year, but on a regular basis.  In the meantime, don't set yourself up for disappointment by holding out hope that any one particular person may or may not acknowledge the day the way you want-- do it yourself!  Any unexpected gifts should just be a bonus, but you alone can guarantee your own happiness.  Do not rely on anyone else to make your day.

With that, I'm sending you all lots of XOXO for Valentines Day!

Tuesday, February 11, 2014

Alcoholism & Its Impact on Families

DC is a very stressful area, and not many have good coping skills for stress, anxiety or depression.  Many, who are not from this area, and lack sufficient family support, will self medicate or attempt to numb their pain by abusing alcohol, which is cheap and readily available.  Most that I see in my divorce cases, will not get caught because they are able to show up for work, and they drink "responsibly" by not driving and either take cabs, metro, or pass out at home while avoiding any arrests for a DUI.

High-functioning alcoholics are everywhere, at every level of our society.  Sadly, most refuse to acknowledge that they have a problem, even when their families are begging them to face their addiction issues.  By the time I get involved, one spouse has finally hit his/her limit, and is no longer willing to try and see if the addict can work things out.  I realize, however, there are those that stay, and if they do, they need to learn to stop being enablers.  More importantly, kids-- either in an intact marriage or with parents that are separated must have their own support network and learn to set boundaries with their alcoholic parents, and this is where they can benefit immensely from Alateen (for kids 9-19).

There are over 250 Al-Anon sponsored meetings per week in DC for a reason.  This is a serious illness that we need to address together.  We can learn so much from sharing our stories with one another, and as human beings, we need to know that we are not alone. 

If any of this rings true with you, please watch this tv segment that I recently aired on MMCTV featuring Al-Anon: 

http://www.youtube.com/watch?v=SxV7IVQpgOg

Friday, February 7, 2014

Stop Worrying About Rejection- Just Go Out on a Limb

Are you holding back from pursuing something you want?  Don't let the fear of rejection stop you from going after your goals.  Rejection sucks, I know, but it is not going to kill you, and honestly it's just a normal part of life.  No one I have ever met has been immune to the feeling of rejection.  Let me repeat NO ONE. 

I'll give you 3 clear examples we can all relate to:

1. In high school, plenty of us from all walks of life, despite great grades, did not get into our first choice for college.

2. In our job searches, everyone I know has had to go through a series of interviews with various employers, and again despite impeccable credentials, we don't always get our dream job in a nano second, especially in this job market.

3.  In the dating world, none of us get the guy or girl we want 100% of the time.  Looks, smarts, and a great attitude can all be there and yet a lot has to do with timing.  Sometimes, the timing just sucks.

The secret to finding the courage to put yourself out there is this: learn not to take things so personally.  If you still think I'm full of crap, I'll give you a very personal example that proves my point:  22 years ago, I went in search of my dad after I discovered he was actually alive, contrary to what I'd been led to believe.  Unfortunately, when I reached out to him, he was not at a point in his life where he could deal with the situation.  Deep down inside, I knew this was not about me, and then for years, I tried to not think about it or talk about it-- until finally in January 2011, I decided enough was enough, and that I needed to give it one more shot to try to make peace with my maker.

That journey from 2011 was all captured in this blog, and this week will be the 3-year anniversary of when I reconnected with my dad and discovered my half-brother in London.   Since then, we've all made such huge efforts to see each other, share holidays and talk on a regular basis that now it just seems like we've been in each other's lives forever.   Over the last few years, this "lost family" has taught me so much about myself and filled my heart with joy.  They have given me a sense of belonging that somehow was missing the first 38 years of my life, and honestly, looking back I don't know how I managed so long without them.

My story is no doubt a bit extreme, but sometimes you need an extreme example to prove a point.  No one could have predicted 3 years ago how things would turn out with my dad, and yet I knew one thing for sure- if I made zero effort, there was no chance of achieving anything.  As it turns out, only by going out on the biggest limb of my life did I finally reap the greatest reward: by making peace with him, I found peace within myself, and this then enabled me to tackle other major challenges in other areas of my life.

So, whatever it is you seek in life,  you have to find a way to go for it.  As they say, nothing ventured, nothing gained.  And especially when it comes to love, at some point, you are going to have to go out on a limb and show your vulnerable side.  If someone is unable to accept what you are offering, just know that this is more often than not a reflection of their limited capacity.  Don't let others limitations hinder you or bring you down.

Truly, the only way to realize your full potential is to put yourself out there.  Is it scary?  No doubt, but then again the greatest rushes in life come from conquering our fears, not by bowing down to them. 


    

Wednesday, February 5, 2014

Top 5 Common Parenting Mistakes

Being a parent in today's world is not easy, especially when there is so much uncertainty in life.  And yet, I've found that the greatest reward for me has been working with kids, both in my divorce cases and at home with my son.  These children are filled with such promise, and they've given me a great purpose in life.  They force us to focus on what our true values are, as we really have to think hard about the lessons we want to impart on them, for ultimately they will be our true legacy.   
 
Now of course each child has his/her own little personality, and so what works with one won't necessarily work with another.  Since they don't come with manuals, a lot of parenting is really trial and error, so relax none of us are going to be perfect 100% of the time.  But there are some big mistakes that I've repeatedly seen parents make that we should all try to avoid.  Here's my list of top 5:
 
1. Avoid being overly protective (aka the "helicopter parent,") who is always hovering over them.  Of course as parents it is our job to protect our kids, but we also need to let them learn some things on their own.  You don't want to create such an unhealthy level of dependency that they will never be able to spread their own wings.

2. Don't create the bubble child.  Parents sometimes want to shield kids from the harsh realities of life, but the fact is there are some bad people in this world & bad things happen every day. Setbacks and disappointments are a normal part of life, and they need to learn to cope with these things sooner rather than later.  We cannot always protect them or save them from their mistakes, and if the goal is to prepare a young adult to be a productive member of our society, then we need to let them see the real world- both in its glory and at its worst. 

3. Just Don't Do It.  That cannot be all you say about drugs or sex.  I grew up in a home where these things were not discussed, and it led to a lot of secrecy.  I learned to do my own research & confide in friends instead of family.  With my own son, I've decided to do things differently by opening up the lines of communication, so there are no taboo subjects.  As things come up in the news about drugs, alcoholism, sex scandals or homosexuality, I let him no any question is up for discussion, and then I just filter by answers based on his age.

4. Overcompensating for a Divorce- lots of parents feel guilty because their children are now growing up in a “broken home.”  I don’t see it that way—the family has simply been re-structured, and obviously it had to be reorganized because things weren’t working when everyone was under one roof.  The research shows that kids are resilient, they just need for their parents to be stable.  So, the sooner people get over their guilt and return to a healthy parenting style, where they set limits, the better.

5. The Revolving Door.  Mainly psychologists caution against this with divorced parents that start dating, but I would say this really applies to all of us and our significant relationships.  If a child continues to see that people come and go, in and out of your life, then what lesson will s/he learn?  How will this child feel it is safe to form any bonds with others if people come into your life one day and are gone the next?  Too many people these days treat others like disposable tissues-- they are around when you need them, then get dumped when you're done.  We need to put a little more effort into our relationships and model good behavior if we want our kids to form healthy relationships in their own lives.

If you can relate to any of these, don't sweat it- it just means that indeed you are human.  We've all been there, and all we can do is acknowledge that there is a behavior we want to change, then try our best to do things differently.  Luckily, kids are very forgiving-- they are wired to want to love their makers, and that is their greatest gift to us.

Parenting is truly the toughest job you'll ever have, and in the end, just remember even the best athletes do not perform at their best all the time.  The most glaring recent example of this: Broncos at Superbowl 2014.  WTF???

   

 

Tuesday, February 4, 2014

Top 10 Things to Ask Before You Say "I Do"...

The last 15 years as a matrimonial attorney, I've really enjoyed working with couples on their prenuptial agreements, which now works out to be almost 25% of my consults.  Yet I realize many continue to see this as unappealing or perhaps unromantic, so I'm willing to cut you some slack, especially if you are young and lacking in assets, but at least have some money talks before you tie the knot and make sure you are on the same page with respect to finances.  Here are my top 10 questions to ask: 

1. What is your credit score?
2. What are your outstanding debts?
3. What is your annual income?
4. What do you enjoy spending money on?
5.  What are your current assets?
6. What do you envision as shared household expenses, and how will we pay those?
7. What do you envision as separate expenses, and how will we pay those?
8. How many kids do you want- and how will we pay for their upbringing?
9.  What assets do you want to create together during the marriage?
10. How important is it for you to save for an emergency fund, retirement, kids' college?

Before you legally and financially bind yourself to another person, you have to know the answers to all these questions.  How can you plan for a future when you don't know what you are starting with today?  If compromises need to be made, better to know now versus later, after you've said "I do."  No one in life starts playing a game and starts asking about the ground rules half way through it-- we all need to establish agreed-upon rules before entering into anything, and this is especially true in married life. 

If you want marital bliss, get the money talks over before you walk down that aisle, and if you really want to be sure about the ground rules, get it down on paper by investing in that prenup!

Monday, February 3, 2014

Are We Asking for Too Much?

Guys seem to clearly be at a loss with women these days, and the fact is we've changed the game at warped speed, so you can't blame them for being a bit confused.  Ever since World War II when the guys went off to war, and women in the U.S. got their first real opportunity to prove their worth working outside the home, we have slowly but surely destroyed the old notion of gender roles and annihilated the "traditional marriage" as a real model to aspire to in this lifetime.  So where does that leave us today?

Well, I think we really have to analyze what we want in a partnership, and once we form that union, we have to be okay with the pact we've made.  According to the authors of "The Good Marriage," there are 4 typical marriage structures:

(1) The traditional marriage- where the husband is the breadwinner and wife takes care of the home and kids;

(2) Love at first sight- where this couple truly believes their meeting was some magical occurrence created by fate, and this is the glue that binds them;

(3)  The savior role- where one party comes to the rescue of the other, and they both continue to enjoy this dynamic where one is the other's caretaker;

(4) The marriage of equals- these are typically friends, with similar educational backgrounds that fall in love overtime, and they continue to believe in an equal division of tasks and responsibilities for everything.

 Well, over the last 15 years as a divorce lawyer, I've seen all 4 of these marriage types fall apart, and here is why:

(1) In the traditional marriage, there is simply too much pressure placed on the man to provide, and meanwhile the parties leading two completely different lives will force them to drift apart.  Resentment kicks in for both if they don't value the other's contributions, and eventually one or the other is highly likely to "step out" to seek fulfillment elsewhere.

(2) With love at first sight, too many people have gotten burned in the past by falling for someone way too fast.  Thankfully, with the rise of the internet and people routinely getting busted for falsifying information, few are willing to put their guards down so quickly, and meanwhile it's been drilled into us that there are plenty of fish in the sea.

(3) It gets really old to always have to save someone.  We all need help every now and then, but it is incredibly taxing to routinely have to play the role of savior.  More people are starting to realize that their role as an enabler in this co-dependent relationship is unhealthy (thanks in large part to groups like Al-Anon) and so it's not surprising that one day the savior will often choose to walk away.

(4) The egalitarian marriage is usually stable for many years-- until kids come into the mix.  When struggling to share the child-rearing responsibilities while also managing your careers, if you disturb that wonderful balance, you run into some serious risks.  If you don't quickly try to restore that balance in your division of labor, you will probably find yourself with one pretty pissed off feminist, and as the saying goes... hell hath no fury like a woman scorned.

So, is there really such a thing as a good marriage?  I do believe there is, but it hinges on the parties being fully cognizant of the pact they have entered into and appreciating each other's contributions.  Both partners have to have a realistic expectation of their arrangement, and they need to keep checking in with one another to make sure things continue to run smoothly.  Too often I'm afraid women marry men expecting they can change them, and men marry women thinking they won't change.  Nothing could be farther from reality.

On a lighter note, here's a short, funny video that a friend sent to me this weekend.  This comedian totally nails the answer to the question about whether women today are asking for too much:

 http://touch.dailymotion.com/video/x15mpjn_what-women-want-brian-scott-mcfadden_fun