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I rent right now but there was a time when I owned a condo and it was actually an eye-opening experience. With prices falling in the past few months and spring being one of the busiest times to buy real estate, the market has been picking up. I'm not ready to buy yet but I'm sure many people are - when I do buy again, I'll be armed with my last experience in the back of my mind.

Here are a few things to consider when buying a condo besides the usual tips of location and getting a home inspector:

PRESALES

My first condo was a presale. It was fun watching it being built over the space of a year and then moving in on that first day. I'll never forget doing my first load of laundry!. But there were a few problems – some of the finishing was subpar and the exterior (especially on the roof) had a few unfinished items. To top it off, the city went on strike and when I moved in, it had not passed inspection yet – far too many unknowns as far as I am concerned. Lately, with falling prices, some people can't afford to even close on their units. A developer could also go bankrupt which would be very inconvenient.

SIMILAR OWNERS

My condo was at the lower end of the scale so we had a diverse set of owners which actually made for a nice community. But after a while, a few owners couldn't afford their units and had to rent them out which caused tensions with those of us who still lived there. While it was there right to do so, I didn't want to live in a rental building.

We also had arguments on the strata council as different people wanted different things – we had seniors, young families and couples and single people like me. The problem is when you live in such close quarters conflict can start fairly easily. If everyone has a similar background (let's say all seniors) arguments and disputes may be kept to a minimum.

COMMERCIAL UNITS

Having a commercial unit in your complex can actually increase your home insurance, I quickly found out. A friend of mine also lived in a building with a restaurant in it and the fire alarm went off at least once per month requiring everyone to wait outside on the street. Like it or not, they will increase traffic around the building which could be a security issue. Similar to my first point, commercial owners may have different agendas which can cause conflict (it did in my case)

WOOD FRAME BUILDINGS

No matter what they tell you, wood frame just isn't as sound proof as concrete. I uses to hear the people snore below me or bathe their dog in the bathtub. There's also the issue of maintenance – for the most part, concrete buildings tend to be lower maintenance. There's a massive problem with mould and rot in Vancouver as I can relate to, being a victim of shoddy construction and faulty building codes. All these issues would mean I'd focus on concrete buildings but they can be fraught with problems, too.

MINDSET

Most people have rented apartments before buying. I'm surprised how many new owners still think like renters after making their purchase – they don't want to spend money on maintenance or they expect other people to do all the work. Even though you subcontract out to trades, there is still much work to be done which means you need strong, proactive people on the strata council. I'm also shocked how many owners ignore bylaws or worse, don't treat the common areas with the proper care. I guess they think someone else will clean up the mess.

Home ownership is a huge step especially if you've never owned before.  Whether you're a first-time homebuyer or a seasoned investor, the real estate market can be fraught with perils and doing your homework is more than half the battle.

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Working in an office environment, it's always important to be courteous, professional and kind to our fellow employees. That's usually the best way to work in a team and get the most performance and productivity out of everyone. I would consider myself reasonably nice, but sometimes, I find that people try to take advantage of that ... I've met a few people over the years who've tried. It begs the question, can you be too nice?

I've been working in office for most of my career, as I'm sure most of you have done, and every once in a while come into contact with someone who could be termed as 'difficult to work with.' They're aggressive, rude, pushy and not at all polite and professional to those around them. And you know what … they get away with it! I think we all know someone in our office like this and for some reason, they're behaviour is tolerated.

And another thing – they frequently get the job done!

People like this quickly get a reputation and pretty soon, co-workers know not to mess with them and they get what they want. I know in the past, I've often been nice, but sometimes didn't get what I want. People would ignore me for days until I finally had to be a bit forceful. I'd be amazed when people jumped and gave me what I wanted – I thought I was being rude, but they actually apologized and provided the information. I almost think that people like it when you're assertive – they seem to respect you more.

FAMILIARITY BREEDS CONTEMPT

It's a great saying, but it actually rings true. If you're dealing with someone who you know is really 'nice' and you know they won't cause any problems, I think there may be a temptation to abuse this fact. Let's face it, work is stressful and sometimes we might go for the 'path of least resistance' If someone always says 'yes', we're going to keep going to them to get the job done.

Where do people who are pushovers get in life? Not very far, I'm sad to say. It almost seems that being nice can sometimes appears as being weak, which is why people think they can take advantage.

Some people I've known who aren't very nice at work, get the respect and even get people to do their work for them, yet move up in the ranks. They may not be terribly liked, but at the end of the day, who cares?

So, should we start getting nasty at work? Well, maybe not, but we can certainly start looking at the way we handle ourselves, if we're not getting the respect we deserve.

TO DO LIST

So, here is my to-do list with regards to being 'nice' and/or 'nasty' when you have to be:

• Have boundaries – learn to say no, if you have too much to do.
• If someone is being rude, stand up to them, even if it's your boss. You'll be surprised how they actually appreciate you telling them to calm down.
• Get the job done in a professional manner … but if you're not getting results, heads will have to roll! You must get assertive and maybe even forceful.
• People at work are (generally) not your friends – they have a job description and are required to perform a duty, so don't feel bad about pushing hard if you're not getting what you want.

I've often thought about the following two possibilities. Would I rather be feared and respected or loved but underestimated?

I think I'd rather be feared and respected. At least you're getting the job done, getting what you want out of life and basically, not broke.

Eventually, they can learn to love you.

Photo: SteveKeys

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Every year at this time, I get many people wanting me to do their taxes, but when I quote them a rate (or the Chartered Accountant I work with quotes a rate), the response I sometimes get is 'that's too much', 'you're crazy' or 'I can get it cheaper somewhere else'. I usually end up directing them down the street to the large chain …

Accountants usually have to charge more because of the expenses we incur.

Here's a breakdown of some of the expenses that have to be paid every year:

So, before anything happens our cost is at least $10. When someone offers me $20 or $30 to do a return, I tend to say no …

This doesn't include additional expenses such as:

• Professional Development (required by professional associations).
• Office Rent and Utilities.
• Parking.
• Food & Entertainment – meeting clients for lunch.
• Unpaid AR (yes, some people don't pay.)
• Office Supplies (tax returns require a lot of paper!)

And don't forget the time it takes to do a return – it's not just entering the slips. We also have to collate the final returns, make copies and then meet with the client again to discuss if anything needs to be adjusted or changed, which frequently happens. There's also using our professional judgement to find the best way to minimize taxes payable.

Some people think it's too expensive having an accountant do their taxes, when they can do it themselves for much cheaper. That might be a good idea if you have a simple return. But if things get a bit more complicated, you may want a professional to help you out.

Other Advantages to paying a professional:

• On top of the latest tax changes.
• If you get audited, you'll have someone to go with you.
• Can provide other business services besides taxes.
• Developing a long-term relationship with an accountant is a great way to make sure deductions don't get missed – they'll know your situation better than anyone else; reduced errors, as well
• Times saver if you're lifestyle is busy.

So, if you're financial situation is getting more complex than you can handle or you just want to save yourself some time, paying an accountant may be the ticket.

Photo: x_jamesmorris

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Finally decided to take the plunge and go self-directed on my retirement plan starting next week.

For the past 15 years, I've simply done a monthly contribution to my bank and purchased one of their funds – and withdrawn money a few times. Oops! But, lately, I'm getting tired of paying the management fees, especially when the performance isn't there. Why pay 1% or 2%, if a fund continually underperforms the market?

I also read a great book a few years ago called THE NAKED INVESTOR and it really opened my eyes to the investment industry. I was especially disturbed to read about trailer fees or commissions that are paid to an advisor as long as you hold a fund. To me that seems like a conflict of interest waiting to happen – I'm sure the majority of investment advisors are hardworking and honest, but still …

The book is full of heart-wrenching stories of people who probably didn't get the best financial advice because of the conflicts inherent with a system of commissions on product sales. The book also goes into detail how you can do much of the work yourself and save a ton on fees and commissions.

Here's is my plan:

• Convert my account to self directed
• Sell the dog I currently own.
• Take the proceeds and invest in a stock or ETF – I'm thinking something in the financial services industry …

Stay tuned … I'll be doing a post in the coming weeks …

COLLECTION OF AWESOME POSTS

Here are some posts I like from this past week:

Bargaineering is Brewing Coffee Pods – those pod coffee machines actually make a decent cup and it's cheaper than stopping at Starbucks.

MyMoneyBlog is Renegotiating Rent With the Landlord

BluntMoney is Buying Single Stocks now – no more mutual funds for me either … well, there are lots of good funds out there, so I don't want to generalize.

BripBlap is Posting on Internet Job Boards

FreeFromBroke says No Job is Below You

FreeMoneyFinance talks about the Myth of Financial Expertise – an excerpt from the book, I Will Teach You to Be Rich

Frugal Dad warns about The Financial Impact of Having Kids Early

GetRichSlowly reminds us that Oversaving Does Not Lead to Happiness

KCLAU offers 5 Ways to Take Charge of Our Finances

Million Dollar Journey is Pondering the Purpose of Money

MoneyGrubbingLawyer is Using Big Words

Mrs. Micah talks about Renting Luxury Items Rather than Buying Them – Bag, borrow or steal!

Four Pillars discusses the issues involved in buying a new or used car.

The Simple Dollar has 10 Tips for Time Management

ToughMoneyLove asks How Much Can You Afford

Don't forget to check out the following Carnivals, which feature one of my posts:

• MoneyHacks Carnival at MoneyLtd.com
• Carnival of Personal Finance at Quest for Four Pillars

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This is a re-post of an article I did last May on the free Trump University Real Estate seminar. I feel it's relevant because real estate prices have dropped substantially and we're in a recession … although I still can't find positive cash flow properties in Vancouver!

I took the free seminar but did not continue on to the paid seminar. A friend of mine took the paid seminar and I'll summarize his experience at the end.

(FROM MAY 3/08)

I went to a free seminar given by Trump University today – Wealthbuilding 101 - and presented by a gentleman named Rick Brown. The seminar is based on Donald Trump’s style of doing business, and naturally, focuses on real estate.

The seminar is a ‘teaser’ and if you so choose, you have the option of enrolling in the two-day seminar for the cost of $1,499 to $3,000.

I have to say, for a free seminar, it was very interesting and it really held my attention, thanks to Rick Brown, who is an excellent speaker. The seminar talked about some key issues for success, namely goal-setting and educating yourself to become financially literate and to learn more about the ‘game of money’

Some other points I really found interesting were:

• Invest in things that give you positive cash flow from the beginning; you make your money when you BUY not when you sell.
  
  The buy and hold strategy is basically gambling if you don’t have positive cash flow - you're basically hoping the market goes up.
  
  It’s not what you know, it’s WHO you know – that means networking is key!
  
  Do your research! Donald Trump spends more time that anyone on analyzing deals before he invests in them

Use other people’s money – you can lower the risk and make more money with partnerships

Using options, assignments and other legal means so that you don’t have to use your own money

Can we learn from Donald Trump?

I think using options and assignments really intrigues me and I would really like to learn more. I’m an accountant but admittedly, don’t know a lot about real estate. What better way to learn than from someone who knows what they’re talking about? I think a successful businessman with years of experience and success has more to offer than a college professor.

I think to be successful, emulating someone else who is successful and rich and learning from them, can’t be a bad thing.

Most of us struggling to get by nowadays could benefit from increased financial education because let’s face it, we’ve spent most of our educational time on training for our jobs, not learning how to handle money.

We’re simply not taught about money in our current education system, so sometimes, seminars like this can fill in the gap.

Would I take the seminar? I think so.

I’ve always said that I want to take courses that make me a better entrepreneur or businessman, rather than a better employee. Plus, many of the courses that my professional association offers to make me a better accountant are priced in the same price range.

If you feel the same way I do, then get out there and take different courses and seminars - educate yourself in the world of finance and become a better investor or business owner!

UPDATE

A friend of mine did take the paid seminar, although but he didn't pay the quoted price at the end of the free seminar – he waited and negotiated a much better price of $1,000.

He actually enjoyed the paid seminar, got lots of useful information and strategies and a nice binder with all the information.  I have yet to take a sneak peak at it, which I will at some point.

But here's the kicker – the paid seminar is actually a teaser for MORE paid services.  You can join their website – there's a free membership and a premium paid one which gives you more privileges.  You can take online courses but I am not sure of the cost.  Or, if you have the money, you can get your own real estate mentor (costs in the thousands) who will walk you through your first deal.

All in all, I find the website intriguing (I am not an affiliate) and I like the free content.  I also like the idea of having a mentor who is experienced but the cost seems prohibitive.  It begs the question – do you need to pay for a mentor?

It's a bit dubious paying for a course and then at the end being offered the opportunity to pay for more services.  Why not cut out the first course and just offer the services as is?  But, if you make money on your first deal, it could be worth it …?

Anyways, I did find the information useful and it was done in a respectful, non-pushy way with no surprises.  Plus, I got a free book!

I may actually join the website.

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If you've gone to some of the big chain markets lately, you've probably noticed the price of food getting a little out of control. With this recession going on, people are looking to save money wherever they can. One way that I found kind of interesting is the food co-op. What is a food co-op? In a way, it's a grocery store AND a non-profit organization rolled in one.

I actually don't do the shopping in my household, but when I do venture out to buy a few things, I'm shocked at how expensive food is getting. Food co-ops may be the answer to the big stores and paying those high prices.

HOW FOOD CO-OPS WORK

With a co-op the customers and/or the workers own a share and all you do is pay a sign-up fee – the amount will vary depending on the organization. Putting it simply, a group of like-minded people come together and use the power of volume buying to offer locally produced products at better prices. Each member has a say in the running of the co-op – everyone has to come together to reach consensus.

ADVANTAGES OF FOOD CO-OPS

1.) NON-PROFIT – the profits are returned to the members on a periodic basis. You don't get that with Safeway!

2.) LOCAL FOOD – it's an easy way to get fresh local or organic food into your pantry without venturing out to all the farms. It's also done for you at an advantageous price and can be cheaper than the big stores. (please do your homework first!)

3.) HEALTHIER CHOICES – local food tends to be unprocessed and much healthier than their processed counterparts in the bigger chain stores. The stuff in the big stores usually has to sit there for quite some time by the time you purchase it which means it's loaded with preservatives.

4.) BUILDING A COMMUNITY – the profits stay locally rather than being sent to multinationals. Everyone has a say in the running of the co-op.

I actually stumbled on these last year when I was doing someone's taxes and noticed a form (in Canada) – a T4A with an amount under box 30, 'Patronage Allocation'. It was their portion of the food co-op's earnings for that year and it had to be included in their income. I had actually never seen that before. That's another issue – watch out for the tax implications as your portion of the co-op's 'profits' may be taxable.

At the end of the day, I like the idea of buying locally and eating fresh healthy food. I'm trying to get more into the organic thing but it's quite expensive.

Food co-ops offer the potential to save money and eat real (not fake) food.

Photo: ilovemypit

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• Buying Locally, Part 2
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I just read the excellent post from The Simple Dollar about starting your career right after college and it has me reminiscing about the year 1992, when I graduated from University (plus the fact that my current boss is younger than me!) Times were tough and it was very difficult finding a job, especially if you didn't have any experience, which I didn't. I graduated with no experience and few if any contacts.

Why did I have no contacts? Well, I didn't really put the effort in and figured I could do it alone. I also thought that the keeners in my class were really annoying and I didn't want to be like that (I still find them annoying, actually) but looking back, they were just networking and who cares what anyone thinks. They were just meeting new people as a means to an end to further their careers.

I struggled in fairly low-paying jobs while other people seemed to flourish. (Well, it didn't help that I didn't know what I wanted to do). Would I have done things differently? Maybe.

Here are five things I would do, if I could go back:

1.) Network, network, network – I'd meet as many people as I could and I'd be pretty brazen about asking them for information or leads on jobs.

2.) Mentor – as the post at the Simple Dollar suggests, getting a mentor is so important. I would do 1.) and try to find someone older and wiser to help guide me. Looking back, I didn't have a mentor which explains why I always felt like I was struggling. And don't get me started on the mistakes!

3.) Volunteer – in my degree, they had very few programs like a co-op situation where you work for a semester. I would definitely volunteer at a large company for the experience and great contacts. It also could have helped me get better summer jobs.

4.) Grades – I would definitely apply myself more. Having great grades is essential for getting a job at school when the recruiters come by. I really didn't work that hard and by the 4th year, I got so good at studying, I did the minimal amount.

5.) Money – I wouldn't have spent so much on partying. Granted, there's a certain amount of socializing that's expected and it's actually healthy, but I think I did more than I probably should have. I came out of school with huge loans and had to take any job (I gave guided brewery tours)

I also think – did I really need to go to school? I would not have lost 4 years of income and I might have been able to go straight into a career. Those were hard years for me because I was broke and by myself in a cruel new world. Ultimately, I could have taken classes after work.

A friend of mine has a brother who never went to school but he is now successful and makes a lot of money. You know what? He regrets never going to school and wished he would have gone.

It all comes down to the experiences you get and the value of education.

It's not always about money.

Photo: lachlan

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By now, you've all heard about the AIG fiasco and those executives who still got their bonuses … even though the company needed to be bailed out. While some bonuses have been repaid, I have to wonder how much will be recovered in the end. This post isn't about AIG, but I'll just say that the company went broke! Had they not been bailed out they wouldn't have gotten anything … but I digress.

There is much talk that executives are overpaid and the amounts they receive don't reflect the true value to shareholders. I would say I agree – when I hear about CEO's making millions of dollars it kind of concerns me, especially if the company hasn't done that well. So, if a company underperforms, why do they still get paid so much?

TOURNAMENTS

On way to explain this is something called tournament theory. Quoting the article I link to, 'Workers are frequently ranked relative to each other and promoted not for being good at their jobs but for being better than their rivals.' It's not they provide more value to the company, it's simply that they were better than everyone else. In a way, office life (the rat race) is somewhat of a game – high salaries are a way to motivate employees to make it to the top, where a huge bucket of gold awaits.

There are several side effects of this theory:

• One way to win the game and get promoted is to sabotage your rivals – this could explain nasty office politics.
• Risk aversion – why take risks and do a great job, when it could lead to you being fired?
• The more luck that is involved in the process, the larger the pay gaps should be between the winners and the losers.

This goes a long way to explain why some highly paid executives are clueless, yet keep getting promoted – they're either good at the game or they got really lucky. High salaries are simply the lure to get employees to aspire to move up the ranks. It also explains why a CEO could do well and still have performed poorly – they still ended up doing better than everyone else.

STOCK OPTIONS

Some executives don't just get salaries – they also get paid in the form of stock options. If the company does really well, they have the option to buy the stock at a cheaper price and sell at the current market price, potentially making a killing. The theory is this should motivate the executive to increase shareholder value and in turn, increase their own earnings. This is why why some CEO's get millions of dollars in compensation – they happened to do very well that year and the stock price went up. There are problems with this kind of pay, though:

• It's short term oriented – a company could do well one year, but tank the next year; meanwhile the CEO already got paid millions of dollars while closing down plants.
• Possibility for unusual transactions – stock option backdating and other ways to defraud shareholders.

In theory stock options are a great idea because they're performance-based but they are not without their problems. Obviously, companies have to wrestle with these issues and there isn't always a clear solution – there has to be some happy medium but you're never going to keep everyone happy.

I have to be honest, if I were offered a high-level executive job, I wouldn't consider it unless the compensation package was fairly generous. There are just so many risks in the corporate environment and the days of job security are over. Stock markets and human are so short-term oriented, the pressure to perform well quarter after quarter is so great, the stress would be equally high. I'd want to be compensated for this stress and lack of job security.

I'd probably want a bit of a golden handshake at the end if I were suddenly terminated – this would go a long way to alleviating some of the worry of being fired and would allow me to focus on doing a better job. I'm sure people read about these payoffs and become furious.

I'm certainly not being an apologist because clearly, there are problems with executive pay. I'm not sure what the solution is, but hopefully, someone will come up with something in the future.

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Bailouts have certainly been a hot topic lately – AIG, homeowners, auto companies – it seems everyone is being rescued these days. It's not a new topic with most family members, though. I wonder how many of us have ever been rescued by a parent, or have ever rescued a sibling because they got into money trouble. Did it help? Did they actually learn from their mistakes or did they just rack up their bills again?

I heard a story recently from a friend of mine about his brother who got into huge trouble with his business and house. He made many endless bad decisions, mismanaged the company's money and in turn ruined his own finances. Eventually, he lost his house, but the parents did help bail him out in many respects. Now, they're debt free and renting … did they learn from this lesson? Well, instead of saving and spending wisely, he went out and bought a huge new truck. The rented house is now full of nice new furniture.

Another couple I know always spoiled the younger child while growing up. In his 20's they let him stay at home while going to school. Living at home is great because if frees up all your money … to party … which is what he did. Instead of coming out of school debt free, he ended up with several debts and they lent him the money to pay them off. Now, in their retirement they still have several debts related to this, when they should be enjoying their time off more and travelling.

A final anecdote involves a rich kid I went to school with. He didn't have to worry about his tuition or living expenses because his parents covered everything … including a new Macintosh (this is back in 1990). Instead of studying hard, he partied with the rest of us, and didn't get to class very much. Well, eventually, he did fail out of school and I doubt if he ever got his degree. I'm not sure what he's doing now, but it's safe to say that the parents did something to help him out.

ARE FAMILY BAILOUTS A GOOD IDEA?

Obviously, as a parent, it must to tough to stand by and watch your child get into trouble … the urge to reach out and fix their mistakes must be huge. But, what are you teaching them? The whole point of life is to learn to be self-sufficient and learn from our mistakes. If someone else is repairing the damage, who's taking responsibility? What happens is a cycle of denial and never being accountable for one's actions. Pretty soon, the 'parent' will always have to jump in, because the kid never learned the proper skills in the first place.

Recently, I was asked to help out and initially, I said yes. But, it would have hurt my financial situation because it involved me taking over a loan and I just didn't feel good about it. Finally, I did say 'no' … but this is a skill that I have only recently learned in the past few years. I think 10 years ago, I would have said yes, and ended up being broke and bitter.

So, family bailouts may sometimes be necessary, but at the end of the day, let the kid figure things out themselves. On a corporate basis, does the same advice hold true? I wonder.

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Looks like AIG paid out $281 million, not the original $165 which was originally reported. Apparently, AIG was 'contractually obligated' to pay retention pay to employees in its financial products unit.

I'm a little loss for words why they would have to pay these bonuses given AIG was on the verge of failing. Had they failed, would they have had to pay these bonuses out? I doubt it. The company would have been broke - it would have been like pulling blood from a stone. Now that they've received bailout money, all of a sudden they can 'afford' to pay out this money. Hmmm.

What exactly are retention bonuses anyways? Quoting the article I reference, 'they're related to a period of significant change where the company feels it needs to retain certain employees" So, from what I understand, the company is concerned that key employees will leave during these turbulent times, so to convince them to stay, they need to dangle these carrots in front of them? I'm sorry, but the last crisis I went through – 911 – the company I worked for lost almost half of it's business (tour and travel). None of us were paid retention bonuses – our boss knew we weren't going anywhere.

Where exactly would they go?

The last time I checked, we're in a recession, and thousands of bank and investment employees were let go on Wall Street. It kind of seems like an employers' market, at least in the insurance and investment industry. I'm confused as to why AIG would be worried at losing 'key employees'

How They Got There in the First Place

As an employer, I'm not sure I'd want to keep a bunch of employees who were responsible for the collapse of a company. Granted, it wasn't all their fault and it's certainly a complicated situation, but still, they have to take some of the blame for this. In the end, executives still seemed to be spending lavishly all the while accepting bailout money. It's kind of a metaphor for how the company was run.

Anyways, I'm just a simple accountant and maybe don't fully understand the complexities of the insurance and investment industry.

But, I do understand one thing – a lot of people (myself included) are not happy about it.

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Decided to stay home tonight. As I get older I find I'm doing this more and more. It's also a great way to save money as I'm not going out and spending a fortune. Best of all, it's a great way to efficiently use my time. I figure I can use this 'extra evening' to get most of the things done I didn't get to do this week:

1.) Catch up on my reading. I have a stack of books next to my bed.

2.) Housework – it's way behind. The kitchen isn't looking to good right now.

3.) Taxes – got a few tax returns to finish up.

4.) Blogging – I should probably get ahead on my posts for the coming week

5.) Plan my week ahead – I should go through my schedule and see where I can fit everything in

I think most importantly, I'll actually wake up rested on Saturday for once and make the best use of that day!

Photo: chaps1

GREAT POSTS FROM THE WEEK:

Do you Volunteer? at Blue Print For Financial Prosperity

Restlessness and Spending Money at BluntMoney

Reducing Salaries in Hard Times at BripBlap

Should the Government Use the Stimulus Plan to Bailout Madoff Victims? at Free From broke.

Questions to ask an Interviewer at Free Money Finance

It's a Great Time to Buy Your First House at Million Dollar Journey

Why P2P Lending is Not a Substitute For a High Interest Savings Account by Mrs. Micah

How to Break the Credit Card Habit at No Credit Needed – think I will read this one again.

The Latte Factor and Becoming a Millioinaire by MoneyNing

Further Thoughts on Life Insurance at Prime Time Money

Is Dividend Investing Dead at Quest for Four Pillars

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Just started a new contract a while ago with a large corporation. This is my first such position and it's been quite a learning experience. Most of my experience is with smaller companies and organizations so I've had to change the way I do things.

When I worked at smaller companies and I wanted to get something done, I just did it without asking anyone. I just got it done as quick as I could. Now, I have more layers to go through and things take a bit longer. I`ve made some mistakes but they have taught me a thing or two. Here are a few lessons I've learned from past positions and life, as well:

1.) If you're sending out reports or emails, make sure you cc all the appropriate parties. Upper management can get offended if you forget to include them. Actually this happened to me – I had been sending out reports for a few months, and it was pointed out that I missed a few Vice Presidents. Oops! If you're not sure who, ask your boss or check the organizational chart.

2.) Get to know the faces of all senior management. I walked by this nice man several times and said hi and he turned out to be Vice President … who I also forgot to cc on several reports (see 1.)

3.) Beware people who are overly friendly. Time and time again, these are the ones who cause all the trouble in my experience. More than not, they have ulterior motives or they'll try to suck you into gossip. Also … avoid gossip!

4.) If you don't know the answer, pretend that you do. Corporations are big, complex environments and it's impossible to know everything. Sounding knowledgeable is a great way to make a solid first impression and that you know what you're doing. Quite often it appears to be more important …

5.) Attaining buy-in – rather than forcing things on people, you really have to go around and convince people that what you're trying to accomplish is good for them. When I worked in smaller companies, I just did it myself, but now, I have to work with so many more people who are often higher up then myself. Fear doesn't work in the long run.

Generally, it's been a great experience and I've learned a ton of new skills. But, I've also realized there is the potential for it to be a minefield if you're not careful. People are frequently not what they seem.

I've survived this long and I think I'm doing well … here's to another year or so!

Photo: NationalGuard

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