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Lately my columns have focused on some serious topics such as divorce, changing the school system, I hope you enjoy this weeks attempt at real life levity?

Last week the business section of the Globe Financial Face Lift section featured Esther. She was 32 and had landed her first big job earning $75,000 a year. For a minute or two I was impressed until I read on that she finds that her money doesnít go all that far living in the big city. She claims she wants to get out of debt but the demands on her pocket book are too many and persuasive.

Her net worth is very negative and yet she feels that she is very conservative in her spending habits. Letís follow the money trail to see where she spends her pay check. She is in a live-apart-together relationship with her boy friend who lives in another city. Simple translation is that he lives elsewhere and drops in (shacks up) for a visit when he is in town every second week-end. They like to celebrate and dine out expensive restaurants, Translation: Esther does not like to shop for food or cook.

Letís look at Estherís monthly outlays. Rent $2000.00, plane reservations $350 , car loan $540.00, student loan $200, gifts$250. vacation/travel $250., dining and entertainment $300., grooming $200., Naturalpath and supplements $350. There are too many more expenses to tally but the total number comes to $4,520 per month. Her total monthly net income comes to $4,520. Perfect accounting: her net worth savings per month comes in at zero dollars.

The financial advisorís solution to the dilemma was that Esther should budget less for her discretionary spending i.e. entertainment & gifts and hire a fee for service financial planner to help her to learn to budget and put some money away for her retirement. To help out her old retired parents should offer too pay off her apartment / student loans to help their daughter make ends meet so she can plan on retirement.

After I read the advise to Esther I spoke to a women who I asked her: "how her daughter, "Honey"who is 37 was fairing?" She told me that she and her husband where still sending her money every month. Honey had graduated from Western with a teacherís college degree and was most fortunate to find employment with the Thames Valley Board of Education.

As fate would have it along came "Mister Hot" and Honey voided her contract and moved with him to the "Big Apple", New York city. After a short time Mr Hot waived bye bye leaving Honey to pick up the cost of the rent. To keep an expensive roof over her head good old mom and dad faithfully sent along their checks in American dollars every month for the past ten years.

Honey has now decided to wave good-bye to New York City and has now moved to Hollywood California to try and find herself. The folks have bought her a new car and are as usual are still sending along their money to help support her expensive life-style. Mom & dad are very stressed out and tired of still supporting their adult child. I am not sure how one can be an adult and still want to be still a child.

Mom hopes that very soon Honey will find a rich supporting husband who will take the financial straight-jacketed daughter off their hands so they can be free and clear of their financial obligations. Too often rich parents are saddled with children who feel that they are entitled and do not see themselves as being financially independent having to rely on the folks to maintain their expensive life styles. The dirty four letter work is not part of the formula for their life style.

Sounds scary? drop me an e-mail.

Len Lesser

Len Lesser posts a report every week

You can email Len at lenlesser@hotmail.com