Standing at the Craps Table

I was talking with a dear friend the other day who shared her slight agitation with a couple of people she had recently come across who were experiencing great success in their careers - both monetary and in being satisfied and fulfilled.  

She reasoned she had gotten her education, held professional jobs, and was now a leader in her organization - having the title, staff and salary to go along with it.  Yet, how was it that these other people seemed to be happier, more fulfilled and richer than her? And, adding to that agitation, was the fact that these people were 10+ years younger.

I immediately thought of a conversation I had with Kim Snider over a year ago.  A financial expert, and one of the speakers at last year's Get RADICAL Women's Conference. What she said forever changed my perspective on what it means to live in a capitalistic society.  

Kim explained that the capitalistic system is built to reward people for taking risk.  A capitalistic financial system doesn't reward equally - and sometimes it doesn't reward at all.  The people my friend was referring to had taken great risks. And while they had some ups and downs, they were experiencing a tremendous payoff for those risks.

Now, that may not seem fair to some people, but that doesn't make it less true.  And that analogy can also be true beyond financial success - it can be true in business, relationships, your career, finding peace and creating balance in your life.  To gain any of those things to the extent that you want them, it will require risk on your part. That leads to the obvious question:

What risk are you willing to take to get what you want?

When I posed this question to my friend, she paused. Risk - taking a gamble - letting it all ride. Those were concepts that made her very uncomfortable.  She related it to gambling - and not only had she never been one to roll the dice, pull on the one armed bandit, or double down on blackjack, she wouldn't even step foot in the casino. That's when I explained that risk should be calculated.

Standing at the craps table and rolling the dice puts you at risk to lose big or win big - but in life, you want to put yourself in a position where the risk is calculated.  A loss may be possible, but the payoff could change the trajectory of your life.

Risk, just like doing something RADICAL, is relative. It has a different definition for each person.  Risk for someone could be finally changing their hairstyle, ordering something they've never eaten at a restaurant they've never tried, outlining why they deserve a raise and then go and negotiate for it, or joining a professional or social group filled with people they want to get to know.

Risk could also be separating yourself from some people in your life that don’t align with your beliefs, values or goals and focusing on developing more nourishing relationships. It could be tapping into your savings to start a business - or stopping the financial drain by closing a business.  

Whatever area in your life you are feeling a little restless with, a little dissatisfied with, a little disappointed with - think about the risk you may have to take to change it. Then decide if you want to stand at the table and roll the dice.

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 RADICAL Success Coach Doreen Rainey helps her clients take charge of their professional and personal life. She is the founder of the Get RADICAL Women's Conference with Jillian Michaels and Niecy Nash taking place on March 26th in Washington, DC. For more information about the 2011 conference, visit the website. Registration is now open!

Are You Part of the Herd?

When it comes to money: 

• Are you a part of the herd?
• Do you have a sense of comfort or are you filled with anxiety?
• Are you clear about how the system we live in rewards people when it comes to money?

How you answer these questions could determine how successful you will be in making, growing, and keeping, your money. 

These are the questions Kim Snider, author of How to Be the Family CFO, addressed when I interviewed her for her upcoming appearance at the Get RADICAL Women's Conference.

If you have been challenged with your finances, listen to this interview to get a taste of the financial advice Kim will be sharing with us at this event.  As one of the amazing speakers for this incredible day, her financial expertise will put you on the road to financial success - not just for today, but for the rest of your life. 

Check out the 6 minute interview as Kim shares a little about herself, what it means to get "radical" with your money, and what it means if you're a part of the herd.

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Doreen Rainey is a Life Coach and Speaker who helps her clients Get RADICAL! For a FREE 30 day membership to the RADICAL Lifestyle Women's Network or to subscribe to her bi-weekly newsletter, visit her website. Join Doreen in the Washington, DC area for the 2010 Get RADICAL Women's Conference featuring Jillian Michaels, Fitness Trainer from The Biggest Loser and Rhonda Britten, Emmy Winner Life Coach from Starting Over and Celebrity Fit Club.

From Rags to Riches to Rags to Riches

Kim's Story:

Twenty years ago, I went to work for a small computer supplies wholesaler. At the time, they were doing about $36 million a year in sales. I was just a few years out of college and started as a clerk in the purchasing department.

Over time, I rose up through the ranks, ultimately reaching the level of senior management. With each promotion came additional responsibilities and pay. Some of that pay came in the form of stock options.

In January 1995 the company went public. By then, they were closing in on $500 million a year in sales and would soon reach a billion. At the moment my employer’s ticker symbol crossed the tape for the very first time, I suddenly had more money than most people dream of having even after a lifetime of work. I was 31 years old.

I knew nothing about investing or taking care of money. In fact, at the time the company went public, I was basically living paycheck to paycheck (albeit a fairly large one) just like everyone else. I had gone to some of the finest schools our country has to offer. I had business law in high school, and I graduated from college with a degree in business. I took several classes in corporate finance. I could do double entry accounting, tell you about supply and demand curves, program a computer, and read a novel in French. But nowhere along the way did anyone ever sit me down and explain the basics of personal finance or investing. Strange, isn’t it?

So, having grown up on television commercials, I did the thing that seemed most reasonable. I went to one of those big brokerage firms and asked them what I should do with the money. They told me they had brokers who would be more than happy to manage that money on my behalf.

Cool! Problem solved. Abdicate responsi—I mean, hire someone else to handle it.

Mind you, I didn’t just pull a name out of a phone book. I got a recommendation from the lead underwriter on our public offering. My broker came highly recommended and worked for the parent company of the investment bank that took our company public. Without naming names, I’ll just say that unless you have lived your whole life under a rock, you know the name of this firm.

In all fairness, I will be the first to admit that I didn’t handle my side very well. I spent a lot of money on really dumb things. In fact, I quit my job and proceeded to have a really good time. That is what you do when you are young and foolish and feeling bulletproof. But you know what? The broker did his fair share of dumb things too.

I didn’t understand what he was doing. Frankly, I didn’t even try to understand what he was doing. After all, he was supposed to be the expert. Whatever he suggested, I agreed to. How could I not? I didn’t have any facts to base a decision on one way or the other. I was like a leaf floating along in the river, going wherever the current might take me. And where it took me was over the falls!

Less than two years later, I was dead broke.

The story might have ended there - except that it didn't.

How did Kim's story end?  Find out at the 2010 Get RADICAL Women's Conference where she'll be sharing her rags to riches to rags to riches story along with her financial strategies to not only help you make money - but grow it and keep it!

Save $50 off the regular conference registration price!
Take advantage of our 2 or 3 payment option if you register by Nov. 30th.

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Doreen Rainey is a Life Coach and Speaker who helps her clients Get RADICAL! For a FREE 30 day membership to the RADICAL Lifestyle Women's Network or to subscribe to her bi-weekly newsletter, visit her website. Join Doreen in the Washington, DC area for the 2010 Get RADICAL Women's Conference featuring Jillian Michaels, Fitness Trainer from The Biggest Loser and Rhonda Britten, Emmy Winner Life Coach from Starting Over and Celebrity Fit Club.