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From the Northeastern Section of the ACS, focusing on career management and development
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10/12/14
Watch-Outs. 70. IRA Scrutiny, Negotiating salary, life’s priorities
Filed under: First Year on Job, Observ. Trends, Alternate Career Paths
Posted by: site admin @ 6:24 pm

Our long term health and financial security often follow
family as important and indeed “priorities” in our lives.
It is reason enough to keep an open eye and mind to
tips, strategies and changes to investments, IRAs
and 401K accounts that are linked to.  [Not being
an expert, more to share items of potential value to
you.]

Negotiating for various items is a second topic.
As it is a subject we do not identify as important,
but it really is something we do not only when we
are hired but throughout our life.  The context in
this post is for women professionals salaries.

Looking for answers to what is important in
our lives is the third link.  While it is done in the
context of business and economists, I dare say it
is a common area of interest for chemists and
technical professionals of all levels and disciplines.
It is sorely missed in our world view.

IRA ACCOUNT SCRUTINY
SOURCE:  L. Suanders, WSJ 10-11-14, p. B8
“Scrutinizing Supersize IRAs

While the comments offer considerable backlash
from those who legally took advantage of things
the lawmakers could not envision, the article
offers some advice.  It offers
1.  “if you have an IRA that holds nontraded assets,
make sure to cross every “T” and dot every “I” for
the IRS.
2.  Don’t count on your IRA surviving many decades.
3.  Consider maximizing contributions to tax
sheltered plans now.”

NEGOTIATIONS:  SALARY MAY REFLECT “ASK GAP”
SOURCE:  John Bussey, WSJ 10-11-14 P. B4
Gender wage gap may reflect ask gap

The comments to this article go outside the bounds
of a plain hypothesis.  The idea is to ask for what you
identify as a priority.  If you do not ask it is rarer
that you will get it.  To ask “put your best case
forward and ask…”

While social scientist have a list of explanations
for differences between men and women– job
choice, career interruption, experience, being
in a union, hours of work, child care, [from article],
asking for a raise is a difference– men ask more often
by putting their best case forward.

APPROACH TO WHAT IS IMPORTANT TO YOU IN LIFE
SOURCE:  Schumpeter, the Economist, 10-4-14, P76
Philosopher kings

When we retire is when we often wait to figure
out what is important.  It is too late.  You have
heard stories about suicides in offices of people
who let everything go except their business or career.
This article cites several examples of people who
think about and establish their priorities as part
of the daily adult lives.  The article is worth pondering.
If interested in this, the book by Greg McKeown,
Essentialism gives you more depth.

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