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THE MICHIGAN CHRONICLE YOUR MONEY MATTERS Is Greed Holding You Back?”
By Michael G. Shinn, CFP Contributing Writer
Michael Douglas, portraying the ego-
maniac stockbroker Gordon Gecko in the movie Wall Street boastfully stated, “... greed, for lack of a better word, is good. Greed is right. Greed works.” And so it seems that in our capitalistic society, the endless quest for the almighty dollar, the single minded pursuit of self-interest, and resulting conspicuous consumption are all considered to be part of the American way. But is the system causing us to become a slave to our greed? Is your greed holding you back?
Greed and Fear Greed in its broadest form is the exces-
sive desire to possess worldly goods. It could be the possession of wealth, food, power, sex and even an addiction. It is the desire to have possessions well beyond ones needs. A resulting spinoff of greed is hoarding. It is the storing up of items we don’t need or rarely use. We see stories on TV of someone’s home that is so full of stuff, that they only have a small pathway to move from one room to the other. How- ever, what may not be so obvious in our own lives is a look at our own homes. Do you have rooms you rarely use, clothes in your other closet that still have the tags on them and a basement or attic with posses- sions that you rarely even look at?
Fear on the other hand is an emotional
response to a real threat or even a per- ceived threat. In the commercial world our fears are ex- posed, exploited and are sources of corpo- rate profit. Watch the TV commercials that surround the evening news programs. The typical ones fan our fears of grey hair, stomach disorders, auto accidents, be- ing overweight and even falling at home alone. All of these fit with the evening news, which is pretty fearful in itself. Bad
news and fears sells TV commercial time. Greed and fear are two powerful emo-
tions that can regularly derail us from achieving our financial goals. Greed will cause us to “jump on the bandwagon” and buy at the top of the market and fear will cause us to panic and sell as the market hits the bottom.
The Asian and Russian crises of the late
1990’s, the dot-com bust of 2001 and the recent Great Recession all have the same classic characteristics of first a “run up of greed” followed by a “downfall from fear.” Once we have survived the current crisis, there will be other financial crises in the fu- ture. The best way to avoid future “greed frenzies” and “fear panics” is to have your investment strategy in place, believe in it and follow it.
An Investment Strategy Developing an investment strategy be-
gins with creating your short, medium and long term financial goals and then develop- ing an investment strategy to achieve them. Short term goals can be achieved in 1-3 years, medium term goals range from 3-7 years and long term goals would be 10 plus years away.
Pay Yourself first- Establish a invest-
ment goal as a % of your gross income- Start at 10% and work your way up to 20%. Put it on automatic pilot by using payroll deduction, automatic checking account
IN MEMORIAUM
Alma Jones
Feb. 27, 1950 – Aug. 19, 2010 Alma Harris-Banks Jones was born to
Thomas Abram and Inez Wilson Harris in Detroit on Feb. 2, 1945. Alma was the second eldest of 11 siblings. Both parents and her brothers, Jerome Sanders, Sandy Lenard and Al Dwayne Turner, preceded her in death.
As a young child, Alma’s Christian
life began at the early age of 7 when she joined True Love Missionary Baptist
Church (TLMBC), first located on Roosevelt Street, West Warren Avenue and then on Poplar Street before moving to 8200 Tireman Ave. in Detroit. In 1952, Alma was baptized by the late Rev. E.N. Cox and Deacon T.K. Joyce. Alma “Jean,” as she was fondly referred to, had a melodious voice and continued to support and sing in the choir and at every given opportunity. She was a faithful and active member of TLMBC for over 58 years. She served in the TLMBC Senior Choir, Mis- sions Department, Children’s Church and Choir, Vacation Bible School, Kitchen Auxiliary and most recently as a “Divine Mother of Favor.”
On April 1, 1960, Alma was united in holy matrimony to James Banks Jr. To this union two children were born. On Nov. 27, 1975, she married Bobby Jones.
Alma attended the Detroit Public Schools and later completed an apprentice-
ship program while working at the private practice of Dr. Leon D. Thomas. Her passion to help others landed her a position at Boulevard General Hospital as a nurse and then on to the private practice of Dr. E.L. Dickson, where she was em- ployed for over 15 years before a knee injury ended her career.
In 1971, Sis. Verdie Robinson, Sis. Iona Singleton and the late Sisters Vessie
Bynum and Christine Williams presented Alma in a solo musical recital at TLMBC under the pastorate of the late Herbert B. Robinson Sr. Her God-gifted voice has led her to sing with renowned musical artists, musicians and many community choirs throughout the metropolitan area, such as Harold Smith and the Majestics, James Cleveland, Charles Nicks and the Detroit Remembers (300-member) Choir, to name a few. Alma was also a soloist with a trio group that performed in con- certs for the Lutheran Children’s Foundation and the Salvation Army along with Earline Tigner-Jones and Henry (Hank) Neal.
Although the road sometimes was rough and the going got tough, you could
often find Alma praising the Lord and quoting scriptures while ministering to the youth and caring for the young. She provided Christian love to all who came in contact with her.
God truly blessed Alma with a kind and giving heart. She was affectionately
called “Nana.” Because of her love for rearing children, she became godmother to a host of godchildren who include Amy Allen, Jayla Barnhill, Lea Caldwell, Curtis Deener, Tesa Dixon, Carmen Henry, Elyse Mattison, Antoine Nobel, Alexandria Spruiel, Justin Spruiel, Synita Turner and others, which developed into many extended family relationships.
Alma was well known for her soul food cooking and decided to operate her own
catering service, which fed many neighbors, family and friends. She will be re- membered for many of her specialty dishes, especially her “Monkey Bread” made from a recipe she obtained from her late, dear friend, Mary Dodson.
After many years of battling with health conditions, God called his angel home
and whispered, “This battle is not yours, it’s the Lord’s.” Alma Banks Jones made her transition from this earthly life unto eternity, surrounded by family and friends, on July 6, 2010.
She is survived by her husband, Bobby Jones. She leaves to cherish her mem-
ories and celebrate her life two devoted and loving children, Jacqueline R. Dodson (Darryl) and Blanton L. Banks, I (Kimberly); one stepson, Bobby Jones Jr. (Caro- lyn); six grandchildren, LarKeysha S.Tinsley (Sean), Devin A. Dodson, Blanton L. II, Breon L., Brae’Jon L. and Bla’len L. Banks; three great-grandchildren, Drake M., Troi N. and Knox C. Tinsley; three sisters, Gloria J. Holley, Jewel S. Harris and Inez M. Freeman; five brothers, William E. Turner Jr., Thomas A. Harris Jr., Jerome L. Turner (Amyrah), Phillip Harris and George L. Turner (LaJuana); an aunt, Virginia R. Milliner; a host of nieces, nephews and cousins; nine sisters-in- law and eight brothers-in-law, many extended family members, special friends, Minister Helen Spruiel, Dr. Verdie Robinson-Curry, James and LaVerne Finley, Rev. Calvin and Sis. Geraldine Pope, Juanita Wright and family, True Love M.B. Church family and caregiver, Michelle Cegers.
withdrawal, etc. Fix it so the money goes directly to your accounts,
Put Your Eggs in Several Baskets- Di-
versify your investments- If you work for a company don’t hold more that 5-10% of your net worth in company stock. If you have a 401K retirement plan, spread your investments among several funds. If you have investments outside your company plans, make sure they are diversified also.
Review and Rebalance- Review the
performance of your investment accounts twice per year. If some of your invest- ments have performed well, rebalance your winners and laggards to your desired bal- ance. Rebalancing may be a taxable event. Before taking any action, consult with your tax professional.
Determining the proper asset balances
and diversifying a portfolio that is ap- propriate for your family goals can be a complicated task. For the do-it-yourself- ers, several personal finance websites have portfolio manager programs that allows the user to enter their investment information and then the program analyzes their asset balances and risk profiles. Others may want to consult with their financial advisor to help develop an investment strategy.
President Franklin D. Roosevelt in his
first inaugural address, in 1933, reassured the nation mired in the Great Depression by declaring, “the only thing we have to fear is fear itself.” Greed and fear are all around and are a part of the financial landscape. If you are prepared and have faith in the future, you and your family will be able to overcome the consequences of greed and fear.
Michael G. Shinn, CFP, Registered Represen-
tative of and securities and investment advisory services offered through Financial Network Invest- ment Corporation, member SIPC. Visit
www.shin-
nfinancial.com for more information or to send your comments or questions to shinnm@financial-
network.com. © Michael G. Shinn 2010
IN MEMORIAUM
Larry King
Feb. 27, 1950 – Aug. 19, 2010
Larry King, age 60, died Thursday, Aug. 19, 2010. The “original Larry King,”
as he was quick to say to any- one who had a “Larry King” joke, was born Feb. 27, 1950, in St. Louis, MO, to the late Arthur and Myrtle King. He re-
ceived his education in the Detroit Public Schools system and graduated from Western High School in 1968. A strong advocate for education, he obtained an AA from HIghland Park Community College (1974), a BS in psychology from Wayne State University (1990) and was in the process of ob- taining a BA in history at Marygrove College. He also gradu- ated from Michigan State University’s Small Business Ad- ministration Program (1984) and Wayne State University’s Small Business Program (1982).
Two days prior to graduating from high school, he be-
gan his employment at Chevrolet Gear and Axle (which later changed to American Axle) where he worked for 31 years until retirement in 1999. During his time “on Holbrook,” he served in various capacities at UAW Local 235 including district committeeman, shop committeeman, attendance counselor, Job Placement representative and Job Training representative, Two of his greatest accomplishments oc- curred when he was the youngest person elected chairman of Local 235 in 1973 and when he was the youngest per- son elected president of Local 235 in 1995. Together with his wife, Virdell, the Kings became the first husband and wife to be elected president simultaneously in the history of the UAW. After retirement, he created the Nevus Leadership Training Program performing various workshops through- out the country, wrote several books and songs and taught music at Detroit Edison Public Charter School.
Due to his contributions to the community and the
labor movement, he was awarded Detroit’s highest honor bestowed upon a civilian, the Spirit of Detroit Award, and was inducted into the National Registry of Who’s Who in America.
Family meant the world to Larry and anyone who knew
him knew how much he loved to be with them. In 1978, he married the love of his life, Virdell Louise Donaldson, and they were blessed with four children, April Marie Doss, Lar- ry Jr., Edwina Simone and Laban Jonathan. He was always there to lend a helping hand to his siblings or impart sage advice to his numerous nieces and nephews. A connoisseur of life, his hobbies included singing, dancing, reading, trav- eling, cooking, volunteering with various civic and political organizations, and spending time with friends and family.
He was preceded in death by his parents, sister, Pearlie Mae Reid, and,brothers Joseph and James King.
To know Larry was to love
him. Inaddition to his wife of 32 years, Virdell, he will be sorely missed by his children, April Doss, Larry, Edwina and Laban King; grandchildren, Aliza Doss, Laurence, Lauren and Kaitlin King; mother-in-law, Edna E. Donaldson, brothers Robert (Nancy), Dwayne (Deborah) and Calvin King; sisters Shirley King, Carolyn (Virdy) Jacobs, Cynthia Washington and Darlene (Terry) Moore; in-laws, who he treated like his own siblings, Gwen- dolyn Donaldson and Larry (Patricia) Donaldson; numer- ous nieces and nephews and a host of extended family and friends.
Services will be held at 11 a.m., Thursday, Aug. 26, at
Greater Grace Temple Church, 23500 W. Seven Mile Rd., Detroit. Burial will be at Detroit Memorial Park West. Rela- tives and friends are welcome at the service and the at the reception at Greater Grace following the burial.
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IN MEMORY OF
MURIEL WAINAINA
Born October 22, 1967 Passed away August 17, 2010
She was a Licensed Practical Nurse. Survived by her son Alexander Nicholas Roy Wainaina, Sisters - Wanjiro, Njoki and Wambui, Fathers – Daniel and James and Mother Jacqueline.
DELOSE DAVIS-KING “D”
August 26, 2010, will mark three years! I Love You, Love You, Love You still! Now–and beyond forever–I always will!
Although you left me physically, spiritu- ally, our “TWIN LOVE AND ONE- NESS” shall transcend eternity! We all love and miss you terribly!
Your Loving Twin Sister, Deloyace “DD” and family
–Our twin bond shall always keep us connected my love!
ANNOUNCEMENT(S) NOTICE OF HEARINGS REGARDING MATTERS TO COME
before the City Council of Detroit. Ad- vertisements for bids and contracts for purchases by the City of Detroit appear daily in the Detroit Legal News. Copies are available at the City County Bldg. and at 2001 W. Lafayette, Detroit.
DETROIT PUBLIC SCHOOLS CAPITAL IMPROVEMENT,
CONTRACTING AND PROCUREMENT 1425 E. WARREN, SUITE B DETROIT, MI 48207
REQUEST FOR PROPOSALS
CONSTRUCTION OF A NEW MUNGER PK-8 SCHOOL RFP-B-10-0713-3
The Detroit Public Schools is seeking sealed bids/proposals from qualified firms for the construction of a new Munger PK-8 School. Bid specifications and updated information, including any changes to the bid due and opening dates, are available at
www.demand-
star.com.
Bids/Proposals Due: Bid Opening:
September 8, 2010, 2:00 P.M.
September 8, 2010, 2:00 P.M. Detroit Public Schools Support Services Complex 1425 E. Warren, Suite B Detroit, MI 48207
DPS Contact: Kevin White
Detroit Public Schools, Department of Contracting and Procure- ment must receive bids/proposals no later than 2:00 p.m. Septem- ber 8, 2010, or such later time and/or date indicated in any updated information on
www.demandstar.com. Bids/Proposals received after such date and time will not be considered or accepted. All bids/proposals shall be accompanied by a sworn and notarized statement disclosing any familial relationship that exists between the owner(s) or any employee of the bidder and any member of the school board, superintendent of the school district, Emergency Financial Manager, or chief executive officer.
Robert C. Bobb Emergency Financial Manager
DETROIT PUBLIC SCHOOLS CAPITAL IMPROVEMENT,
CONTRACTING AND PROCUREMENT 1425 E. WARREN, SUITE B DETROIT, MI 48207
REQUEST FOR PROPOSALS
CONSTRUCTION OF A NEW SAMUEL C. MUMFORD SENIOR HIGH SCHOOL RFP-B-10-0716-3
The Detroit Public Schools is seeking sealed bids/proposals from qualified firms for the construction of a new Samuel C. Mumford Senior High School. Bid specifications and updated information, including any changes to the bid due and opening dates, are avail- able at
www.demandstar.com.
Bids/Proposals Due: Bid Opening:
September 14, 2010, 2:00 P.M.
September 14, 2010, 2:00 P.M. Detroit Public Schools Support Services Complex 1425 E. Warren, Suite B Detroit, MI 48207
DPS Contact: Kevin White
Detroit Public Schools, Department of Contracting and Procure- ment must receive bids/proposals no later than 2:00 p.m. Sep- tember 14, 2010, or such later time and/or date indicated in any updated information on
www.demandstar.com. Bids/Proposals re- ceived after such date and time will not be considered or accepted. All bids/proposals shall be accompanied by a sworn and notarized statement disclosing any familial relationship that exists between the owner(s) or any employee of the bidder and any member of the school board, superintendent of the school district, Emergency Financial Manager, or chief executive officer.
Robert C. Bobb Emergency Financial Manager MRS. LINN BORN GIFTED READER
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You will always live in our HEARTS!
We miss you dearly Mama. Your Loving Family
August 25 - 31, 2010 PERSONAL SERVICES
Page D-4 IN MEMORIAUM IN MEMORY OF
CAROLN J. PERKINS Feb. 21, 1948 – Aug. 6, 2003
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