Friday, January 27, 2006

In Flight

“Seventy percent of success in life is showing up.” – Woody Allen

One of the nice things about business travel and long international flights is that I get to catch up on my reading. Perhaps it is the same reason why a person might decide to be a chauffeur… because it gives him or her more time to read. I consider this a huge perk… having a chunk of uninterrupted time to read and write and work on what I like to call the business of me… meaning my ability to learn is heightened by 12 hours of sitting in coach. Not many people would actually consider this lucky, but I do.

I have a routine to these trips. I first skim all the fluff material (In flight magazines, Time and any newspapers I snatch from the abandoned stack at Starbucks). Then I settle into any back issues of the New Yorker, Fortune and Business 2.0. Followed by a dip into fiction or nonfiction depending on my mood and space in my carryon. During layovers, the laptop gets booted up and this is when I write… since my mind feels stimulated from hours of reading but also because at this point I’m jacked up on European espresso and I can type really fast.

Of course, one goal with all this reading is to keep filling the funnel with blog topics. So here I sit on Friday morning trying to decide what to write about first… as I have 15 articles that were ripped out of magazines along the way.

So I begin with Elizabeth Pope and her advice in the American Way magazine about how busy professionals now can employ daily money managers. What do these people actually do? “Daily money managers manage income and expenses, keep paper and electronic records, file medical and insurance claims, and organize documents for tax preparation, loan applications, and other transactions.

“This specialty first appeared about 10 years ago, originally focusing on elderly clients unable to keep up with daily finances. But these days, more and more time-pressed younger clients are putting their finances in the hands of money managers too.”

“These professional clients view this as a service to hire, like having a housekeeper. Clientele is made up of mostly singles and two-income couples with demanding careers and travel schedules. Some have multiple homes and household help and need assistance with payroll and tracking property taxes.”


Does it sound like I might want to employ one of these daily money managers? Actually I was thinking more along the lines about becoming one. The article mentioned that about one-third of the daily money manager’s job is to educate clients about financial literacy. Hmmm… this is starting to sound like the perfect career move for me… especially since I’m not buying a Quiznos now.

A daily money manager can “turn the drudgery of pesky financial matters into (ta-dah!) free time.” Of course all for a fee that ranges from $40 to $150 an hour. Maybe someone should franchise this concept. There’s a thought that sounds better than making sandwiches.

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