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Last week we discussed about the current financial crisis and the resulting economic situation in the country. Since we last discussed a lot has happened on this front. It appears that the country’s legislative bodies have agreed to a deal in principle and have written the draft legislation. It is widely expected to be passed by the Congress this week.

Also, one of the greatest investing legends of our times, Warren Buffett of Berkshire Hathaway decided to invest $5 Billion in one of the two last standing investment banks, Goldman Sachs last week. In light of this ground breaking investment, CNBC recently interviewed Warren Buffett over a telephone call. The complete transcript of the interview and the audio/video of the interview can be accessed here. This is a very interesting, no holds barred interview. It gives the listener a very good opportunity to peek into the legendary investor’s mind at such a critical juncture in our nation’s economy. Mr.Buffett also shares his outlook, his rationale for this investment and more. So we wanted to spread the news about this interview to our readers. Hope you’ll like it. Please do post your comments and let us know your thoughts.

Note: The audio/video of the interview is in 3 separate parts. Be sure to go to the transcript of each part to access the audio/video of that part.

Today, continuing our series on interviews with people serving our community, we are delighted to present to you our interview with Judith Auslander of Wise Heart Coaching. Judith is a seasoned life coach and has helped many a people rediscover their calling and helped them make their lives meaningful and their relationships satisfying. We are delighted to have Judith on our panel of distinguished ‘Boomer411 Trustees’. You can find Judith’s recommended articles on Boomer411 under the user name WiseHeart. So here is our interview with Judith…

Q: We hear a lot lately about coaching, so, what exactly is a life coach?

A: Coaching is much like the sports coach you had in school – but I don’t yell at you. Basically, coaching is an ongoing professional relationship that helps people achieve extraordinary results in their lives, careers, businesses or organizations.

Q: How does coaching work?
A: I ask lots of questions – most of them requesting that you go deep inside to find a response to. Afterward I offer honest feedback as to what I heard or felt. My job is to inspire you with new ideas, concepts, strategies and frameworks that help reorient you around the success you are looking for. I am there as your friend, mentor, supporter - and most importantly - treat you with honesty and respect.

Q: So is coaching the same as mental health therapy such as counseling?

A: Well, yes and no. Coaching is a different and separate profession from counseling or psychotherapy in that it focuses on the present and on what you can do to create the future you want - NOW!!! Counseling may take years of therapy, where coaching usually produces immediate results. This does not mean that coaching is for everyone. If you have really serious issues, you may need a doctor who is trained in those areas. But for most people, a coach will help you find the happiness that eludes so many of us.

Q: What kinds of things do you generally coach people about?

A: Actually, a lot of things. It depends on what their particular hiccup in life is. It may be about setting goals – which by the way I wrote a book on – or finding romance or rediscovering the romance in your relationship. I have coached people on finding a new career, rediscovering their passion in life, organization, getting unstuck – it is amazing the things that pop up in a life that create a feeling of disorientation and loss that can be taken care with my program.

Q: Does coaching take years of work?

A: Again, much different from your standard therapy, coaching only takes about 3 to 6 months depending on the things we are working on.

Q. Is it expensive?

A. No, since it takes so much less time than counseling, the cost is significantly less.

Q. What is your main focus as a coach?

A. Recently, I have started to focus on boomers and being sexy. It seems that many boomers have forgotten what it is to be sexy. Being sexy, by the way, has nothing to do with sex. It is about how you feel about yourself, how you dress, how you operate or move in the world. With the rapid changes that seem to occur in our body after turning 50, it is easy to stop thinking of ourselves as sexy. My feeling is that we are still sexy – and that we should still have fun. With this concept in mind, I am starting a new market called “Shift2Sexy.” How do we make that “shift” is what I am starting to write articles about, creating workshops, and planning on my second book to be about. Boomers are not like their grandparents – we are living longer more active lives. Boomers have always been the movers and shakers and we will reinvent what getting older is all about.

Judith Auslander, MA, PCC, is the owner of Wise Heart Coaching. You may find out a lot more about coaching and about Judith at Wise Heart Coaching.

You can also read her blog here.

By Rita R. Robison, Consumer Specialist, Blogging at The Survive and Thrive Boomer Guide
Guest Blogger

It’s a terrifying story.

A six-year-old California girl tied a jump rope around her wrist and threw the other end out the window so that she could see it fly in the wind. When the SUV got underway, the rope became trapped in the axel. The rope tightened until it severed the girl’s hand.

It’s important to be thinking about safety all the time, when you’re with your grandchildren.

Each year, 2.5 million children are injured or killed by hazards in the home, according to the U.S. Consumer Product Safety Commission.

Be aware of and eliminate the dangers on the commission’s “Top Five Hidden Home Hazards” list:

1. Magnets: One death and 86 injuries since 2005; 8 million magnetic toys recalled.
2. Recalled Products: About 400 recalls each year.
3. Tip-Overs: Average of 22 deaths per year; 31 in 2006 and an estimated 3,000 injuries.
4. Windows and Coverings: Average of 12 deaths annually from window cords; average of nine deaths and an estimated 3,700 injuries to children annually from window falls.
5. Pool and spa drains: 15 injuries, 2 fatalities from 2002-2004.

The photo, upper right, shows MagnaMan Magnetic Action Figures, which have been recalled by the commission because ingested magnets pose aspiration and intestinal hazards.

For more statistics on what causes children’s injuries and deaths, see my article, “Making Your Home Safe For Your Grandchild.”

What can grandparents do to take preventative measures to avoid these dangers?

“Grandparents: Focus on the Child – Safety,” an AARP article, offers these suggestions.

• Suffocation is the No. 1 danger for infants. Become familiar with crib standards and determine whether second-hand cribs are safe. Put babies to sleep on their stomachs and remove all soft bedding and stuffed animals

• The No. 1 cause of death in children ages one to 14 is motor vehicle accidents. Make sure that your grandchildren are buckled in, that their car seat is the appropriate size for their age, and that they’re properly restrained. Seatcheck.org offers information on safety seat installations and inspections.

• The second most common cause of death for children age one to 14 is drowning. Don’t be distracted by reading, talking on the phone, or visiting with friends. Be award that children can drown in small amounts of water: small ponds, fountains, wading pools, and toilets.

• Unsafe toys and equipment also can cause injuries and death. Sign up to recall information in your e-mail from the commission’s On-line Form for CPSC Subscription Lists.

The photo, middle right, shows a Simplicity crib, which has been recalled by the commission due to failures resulting in infant deaths.

The AARP article also provides this list of Little Lifesavers that are small precautions grandparents can take to help prevent accidents or deal with them quickly and efficiently if they happen.

• Be watchful. When we’re supervising grandchildren, don’t let other distractions intrude. Keep both eyes open. One eye isn’t enough.

• Learn first aid and CPR, especially if you have a pool. If the unthinkable happens, be prepared to act. The faster you can begin basic first aid or CPR, the more likely your grandchild will have a good outcome.

• Post emergency numbers by all telephones, not just the one in your kitchen. Don’t forget your cell phone. Include the number of the U.S. National Poison Hotline at 1-800-222-1222.

• Introduce your grandchild to basic safety principles. Make sure they know their name, address, and phone number. Teach them how and when to dial “911.” Rehearse a fire escape plan with them. If there’s a Safety Town program in their neighborhood or yours, enroll your grandchildren. It’s a great way for little ones to learn safety rules

• Safety-proof your house before the kids arrive. Place medication and cleaning supplies out of reach. Cover exposed electric sockets. Move fragile, breakable items.

“Childproofing Your Home: 12 Safety Devices to Protect Your Children” offers suggestions for devices you can install yourself.

Here’s a list of Web sites and references to help you with child safety issues:

HealthyToys.org

Zrecs – Safer baby teethers

Squidoo – Safer baby teethers

“Childproofing Your Home”

“Soft Bedding May Be Hazardous to Babies”

“Safety Devices Help Prevent Deaths and Injuries”

“Strings, Cords, and Necklaces Can Strangle Infants”

“Baby Safety Checklist”

“Child Care Safety Checklist for Parents and Child Care Providers”

The photo, lower right, shows hooded sweaters recalled by Empress Arts, which have been recalled by the commission because children can strangle on the drawstrings.

This proverbial “roller coaster” ride in the financial markets this last week could even make an ardent roller coaster lover sick to their stomach. These are unusual times with history-breaking/history-making events. Hopefully the government’s intervention plan gets the seal of approval from the legislature bodies and bring stability and order to the chaos that reigned in the markets last week.  And hopefully this stability will be for both the short-term as well as the long-term.

In case you missed the events of last week, the following articles give a heart-breaking rendering of the events that transpired and about the people that are at the forefront of reshaping the financial landscape of the country. Read this article titled, Shock Forced Paulson’s Hand (from The Wall Street Journal) as it narrates the major events last week and how Lehman’s bankruptcy disrupted the markets and caused some Money Market Mutual Funds to break the buck. If you are still interested to learn more, read this article titled, The Players Remaking Financial World. This article provides an inside scoop of what happened behind the scenes and the events leading up to the collapse of some of the storied firms in the financial world. Here is a listing of 12 failed U S banks and thrifts this year.

On the positive side, the government now has a grand proposal to rescue the economy at a whopping cost of $700 billion. Also, the last two remaining investment banks have been allowed to change their status as bank holding companies. This will enable them to create or acquire commercial banks and give them the safety of deposits and thus avoid the liquidity crisis that brought the other investment banks down.

Considering all this, things may finally be starting to calm down. But all this turmoil would naturally raise the question in consumers about the safety and availability of their prized savings and retirement funds. Also, it is natural to ask what does all this mean to me and my family?

It is probably a good idea to review the following articles and take steps to ensure the safety of your investments.

This article, Is Your Money Really Safe? Know What You Own talks about the money market fund debacle. It also provides links to the FDIC Deposit Insurance Estimator Calculator, FAQs on Deposit Insurance, a listing of recently failed banks among other things.

And here is an article outlining what FDIC insurance protects and what it does not, FDIC Insurance Protects, Except When… 

10 Ways to Protect Your Finances From The Crisis details a checklist of 10 steps you can take to safeguard the value of your savings. 

This article, Is My Money Really Safe? shares some down-to-earth, frank answers to your tough questions about banks, brokerages and mortgage companies and what you can do.

The common thinking is that learning, education stops when we finish college. Eric Hoffer brings forth the importance of continued learning beautifully in this quote…

“Those who stop learning find themselves equipped to live in a world that no longer exists”
- Eric Hoffer
Philosopher