Posts filed under 'Uncategorized'
August 18th, 2008
Scott K. Laue, J.D., CRPS
As we all ponder the financial success of the Beijing Olympic Games and wonder what the financial impact might be if Chicago is successful in its bid for the 2016 Olympics, thoughts might turn to the individual athletes and the true meaning of winning the GOLD. Setting aside the emotional reward of an athlete’s (and his/her families) commitment and dedication as well as the tremendous value of endorsements received by the likes of Michael Phelps, the actual value of the medals themselves is less than “sterling”.
While varying in design from one Olympic game to another, the medals themselves are consistent in terms of size and content. The medals for the Champion and the runner-up are made of pure silver. Contrary to what most believe, the Champion’s gold medal is not made of solid gold, but is constructed of solid silver covered with a heavy plating of gold weighing not less than six grams. The bronze medals are comprised of copper, zinc, tin, and a very small amount of silver. In addition, all medals from the Beijing Olympic Games will have an inlaid Olympic logo made of Chinese jade, which makes them the most expensive Olympic medals in history.
While it’s difficult to put a price on Chinese jade these days, at current silver and gold prices the actual metal value of an Olympic gold medal is approximately $300. Obviously commodity pricing doesn’t reveal the true market value of an Olympic medal – that’s a matter of supply and demand. For example in 2005, an Olympic gold medal winner auctioned off her medal to raise money for a Polish Children’s hospital raising $101,500. I just checked eBay and found no gold medals available for sale but I did locate a 1976 Montreal Olympics 2nd place Boxing Silver Medal with a current bid of $1,726. The winning boxer was not identified nor am I sure what one does with someone else’s Olympic Medal.
While one of the most exciting and historic events at the Olympic Games is the medal ceremony, winners shouldn’t plan on retiring based on the intrinsic value of their well deserved accomplishment.
August 1st, 2008
Jessica L. Knudsen, CFP®
It seems like everywhere you look these days, the media is reporting how the slumping economy and rising oil and food prices are pinching consumers pocketbooks. So what can you do to keep up with these rising prices without breaking your budget by dining out on the weekends? I recently found a website called www.restaurant.com that that offers restaurant gift certificates for a fraction of the price.
When you access the website, you enter your zip code and it will display the restaurants in your area that are part of their program. Then you simply choose the restaurant you would like, purchase the certificate, print from your computer and enjoy a great dinner. For example, I found gift certificates for Diamond Dave’s restaurant that had a face value of $10 that you could purchase for only $3. The only catch is that you must have a minimum purchase of $20 and it applies only to food purchases. So that means you can go out with your family and have a $40 meal for only $12!
While I did only find three restaurants in the Rockford area that participated, there were 451 restaurants listed for the Chicago area. So if you were planning on a night out on the town in the big city, this would be a great idea to reduce your dinner bill.
May 20th, 2008
Amy L. Barrett, MBA, CFA, CFP®, CDFA™
Since I’m up to my eyeballs in preparation for my 13-year old son’s Bar Mitzvah this month, I thought I would share some of my observations. In defending his assault on my view that he has to go through with it, I failed miserably to convey the fact that generations of Jews consider the age of thirteen a milestone. The fact is that in 4000 BC, the odds are that he would not have made it to thirteen. I didn’t tell him that because it would not have sunk in. I did remind him that if he doesn’t go through with it he might not make it to fourteen.
Lately, much that I say doesn’t sink in. In fact, that I repeatedly remind him that that he must sing in Hebrew, several long blessings in front of 150 people who he barely knows. Does he practice? NO. It’s a good thing that only my brother-in-law, a serious Jew, and the Rabbi will know that he faked it.
The only logic that appeals to him is that he will get gifts in exchange for his years of preparation and song. Money is a motivating factor. In fact, he has his wish list already assembled. Perhaps spiritual leaders got it wrong, instead of offering heaven for a lifetime of good deeds, they should have offered a Bar Mitzvah and very big party!
January 9th, 2008
Theresa A. Harezlak, CFP®
After 20 years in the financial planning business, I’ve learned a lot from education opportunities, mentors, financial advice books, business and personal experiences, and from my customers.
One of the most important is that no matter how we measure success, when life presents challenges, financial or otherwise, it’s truly how we approach those challenges that matters most. We may not have control over everything that happens to us, but we all certainly have control over how we will view our situations and how we will deal with them.
The following is a story that has inspired me and my family. I hope you will find it inspiring as well.
Good Luck and Bad Luck
There was once a wise farmer who knew that life’s experiences are often not what they appear. He owned a beautiful mare that was the finest in the entire village. One day, someone left the corral gate open and the mare ran off. The villagers said to the farmer, “What terrible luck.” The wise farmer replied, “Good luck, bad luck, who can tell.” Several days later, the mare returned with a beautiful herd of wild stallions accompanying her. The villagers marveled at what good luck the farmer had. Again, the wise old man observed, “Good luck, bad luck, who can tell.” One day the farmer’s only son was out in the yard breaking in the wild stallions. When he was thrown from his horse and broke his shoulder, the villagers remarked, “What terrible luck.” Once again, the farmer said, “Good Luck, bad luck, who can tell.” A week later the government declared war, calling into service all able-bodied men from the village. All went to war with the exception of the farmer’s son, who was still healing from his injury. When all the young soldiers from the village were caught in an ambush and killed, the villagers again remarked to the farmer, ”What good luck that your son broke his shoulder and was spared.” And on goes the story.
~An old Chinese story, Author unknown
May 2008 bring you and your families much joy, happiness, and good luck.
Scott K. Laue, J.D., CRPS
