Mark Noldy

Any New Year's resolution worth its salt ought to take into account the events of the previous year. The pandemic, among other things, made the year 2020 the worst year in recent memory. But a resolution is based on reflecting on the previous year's accomplishments and saying how we're going to operate differently in the coming year. The Pandemic By far, the saddest news of 2020 was the loss of loved ones too early... COVID-19. "Wash your hands, social distance, and wear your mask." Maybe it could have been worse. Maybe not. That's unknowable. In any event, people all over the world have been and continue to be affected by this pandemic -- both directly and indirectly. Thankfully, there is light at the end of the tunnel. Thanks to Operation Warp Speed, health care workers are now getting vaccines. My mother and my daughter were among them! Weather events have prevented the 20 million the president promised. And 100 million will be in the pipeline by March of this year. So I resolve to continue doing good things for other people. The Government The Government shut down the economy in the name of "flattening the curve." Avoid overwhelming hospitals... makes sense. "Big box" stores are apparently immune from the virus, so they were allowed to stay open. But many small privately owned businesses were forced to stay closed. Fast forward 9 months, and some states still have severe measures in place for what seems like just the small businesses. Meanwhile, department stores remain open. According to NBC News, almost 60% of restaurants (32,109) are permanently closed as a result of pandemic restrictions. Still trying to connect the dots on the decision to only shut down small private businesses... So I resolve to watch less news in 2021 and to not spread rumors. Schools The jury is in. The majority of learners do better with in-person instruction than they are doing with remote instruction... by a country mile! Public schools do not have the resources (or expertise) to equip classrooms with the appropriate technology to produce a quality audio-visual remote experience. (I used my own cameras, microphones, etc.) Furthermore, most remote learners are not cognitively engaged. I estimate at least half of remote learners log in to the Internet classroom, display a cat picture, then leave to do something else. How can I tell? At dismissal, there cat is still on screen... There are just too many distractions for the average learner to attend classes remotely. Parents are at work, so no adults are home to encourage their students, and so on. So I resolve to continue being the best math teacher and financial coach I can be. Health and Fitness Although I'm not a chubbie, my fitness was less of a priority the last year. We all have reasons, especially because of the pandemic. My lack of focus probably had to do with learning new technologies for remote instruction. Even so, regular cardiovascular and resistance training needs to be an important part for living without infirmities as we get older. So I resolve to follow my system waking up at 3:30 am and exercising at 4:00am. I will get my bench back up to 315 pounds (if my gym opens) and I will get my mile time back down to 8 minutes. Finances You knew this article was going to talk personal finances... After all I am a financial coach (i.e., budgeting geek). Tuesday's post was all about the January spending hangover. If we had a bad financial 2020, that does not mean that we will have a bad 2021. Many people had a bad 2020 through no fault of their own. The Government's economic shutdown caused many layoffs and a ginormous number of small business closings. Nowhere to go but up, heyna? Regardless of the situation, having a spending plan has never been more important. Some may need to re-establish (or start?) an emergency fund -- a rainy day fund is absolutely essential. (It saves money.) To do this, spending needs to take center stage. As Dave Ramsey says, normal is broke. So I want to continue being weird this year with our monthly budget. Even with missing/reduced income, we all need budgets. In fact, it may be even more important to have a careful spending plan when our incomes are smaller or temporarily altered. A budget is a lifestyle change. It's kinda like a new eating pattern or exercise program (a popular resolution). We all know people who have lost weight and then put it back on when they quit exercising and stopped the "diet." And then they say the diet didn't work! Health and fitness is a lifestyle change, not a course of antibiotics that repairs everything in 7-10 days. The mindset for health and fitness applies to personal finances. Budgeting isn't something we focus on for a week or a month. It's an all-in lifestyle change. If you want to master your money and build wealth, you HAVE to be a doer, not a dabbler. So I resolve to keep investing and help as many new people as I can get started on their journey toward financial peace. Relationships My final resolution is about nurturing relationships -- and in some cases re-establishing them. I often think of college roommates and pals, but I never reach out. Why? If I'm being honest with myself, shame has to be a part of my answer. (My ex-wife has another part to do with it.) But after 30 years of adulting, it's intimidating to establish contact again. It shouldn't be though. After all, I spent four of the toughest years of my life with these folks. I still remember working on Welker's NPV equity pricing models, CAPMs, WACCs, etc. with my roommate, Gary. And for all I know my college friends have the same feelings. So Jimmy G, Gary, Terry, Mitch, Bill, Mikey P, Kurt, Jerry, et al. -- Expect a phone call just to say "Hey!" (If I can find everyone's number!) And of course, the best relationship I have is with my spouse, Carol. We do nearly everything together. We have the same goals and aspirations, and I love pursuing them with her. My wife is my best friend, and she is also the absolute best person at keeping in touch with her old college friends and former co-workers. I'm going to take a page out of her book! Carol and I also spend time with our family and friends. We vacation with our best friends, Heidi and Kevin. We eat dinners with them. We even celebrated New Year's Eve last night with them! With a little luck, we'll be able to visit Mexico this summer! My point is that marriages, friendships, and family relationships are like our personal finances and our health and fitness. They are lifestyle choices that we decide to make. And they all require regular attention, or they disintegrate. If we don't tend the garden of life, it will be overrun with weeds. Have a happy new year! Let's all think about our resolutions and why we may have failed previously. And most importantly, our past is not our future!

Spend Less than You Make

Grow the Surplus

Avoid Debt

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