This e-zine was originally sent on December 24, 2009.  It may have been edited somewhat from the version that was originally emailed, so be sure to sign up to make sure you are getting our e-zines fresh!

“If you haven’t any charity in your heart, you have the worst kind of heart trouble.”

- Bob Hope

Hi Collin County Parents,

Well, our family is deep into the holiday season. My folks came down from Fairbanks, Alaska and my sister and brother-in-law are in town with their three little ones – so we have a full house!

So I’ll hope you’ll forgive me that I’m probably a little late on this topic this week, but just in case you are still out there shopping, I’d like to give you some comfort about those last-minute gift cards. (And if you are all done with your Christmas shopping, you can save this for next year.)  Enjoy!

Aaron Miller’s

“Straight Talk” Personal Strategy

Did You Just Destroy Wealth With That iPod?

Many people spend more during the holiday season than they can afford. Among other things, sometimes guilt or shame can drive a lot of big-ticket gifts–though not always, of course. But the satisfaction can be both short-lived and shortsighted.

Well, in a new book, Wharton School professor Joel Waldfogel’s book, “Scroogenomics: Why You Shouldn’t Buy Presents for the Holidays.” says that people are the most efficient when spending their own money, producing at least a dollar in satisfaction for every dollar they spend. But spending money on those we don’t know well results in what Waldfogel calls a “deadweight loss” of value–about 20%.

You are guarding against deadweight loss when the recipient can exchange the gift or return it for cash. With Christmas & holiday spending in the United States at $100 billion, this loss results in “an orgy of wealth destruction” to the tune of about $20 billion. Ouch.

Waldfogel’s study found that givers with infrequent contact were those most likely to give less appreciated gifts. This group includes aunts, uncles and grandparents who live in another town. According to economists, people are better off when they make their own choices. For this obvious reason, Waldfogel suggests giving money or gift cards instead.

To the criticism that he had taken the joy out of Christmas, he responds that after watching desperate last-minute shoppers, he thinks the joy was taken out of Christmas long before his critique.

Of course railing against the commercialism and waste of the holidays is pretty common these days. So, let’s further breakdown what happens during this gift-giving season…

Some gift giving is driven by social expectation and becomes a test of the relationship. For example, for couples who are dating seriously, the message is much more important than the medium. Give a book the other person despises, and you have revealed how little you pay attention to your loved one’s opinions. But a pair of gloves, with a heartfelt note saying, “These will keep your hands warm when I’m not there to hold them” would show your affectionate side. Or perhaps the receiver doesn’t like romantic mush, and you are expected to know better.

Parents can help extended family members select gifts for their children by providing specific wish lists to ensure that what they buy will truly be appreciated. If you aren’t confident, include a gift receipt. You are guarding against deadweight loss when the recipient can exchange the gift or return it for cash.

And in families where children don’t have any spending money, cash may be the best possible gift. Handling cash with all the complexity of choice is an experience that offers irreplaceable life lessons.

Try asking people, “What present changed the course of your life the most?” to see how much influence you can have. A pair of binoculars sparks a love of ornithology. A telescope fuels a fascination with astrophysics. A microscope leads to a biology career. An electronic toy prompts your daughter to join a robotics competition.

Not all presents need to be academic. A graphics tablet can lead to a design career. A guitar can inspire your son to form a new band. Or a video camera can lead to a later career choice in filmmaking.

Finally, some parents who are still unemployed will disappoint their children if they are hoping for expensive gifts this year. I’ve known a few families who had to tell their children that celebrating a traditional American credit card holiday would jeopardize the family’s financial security. Many parents are experiencing the first economic setback in their adult lives. Being financially cautious doesn’t mean you love your children any less. And if you can be positive and reassuring, you needn’t try to shelter you children from household economics.

The greatest joy of the holiday season is not bought in a store and does not increase your credit card debt. There is a better way to celebrate that builds long-lasting family ties.

Make a list of all the things you have gotten right in past holidays and make them annual family traditions. Add a few new ideas every year. The best holiday traditions don’t cost a lot of money, and they aren’t wrapped and put under a tree.

To your family’s wealth, health, and happiness!

I truly hope you and your family have the best Christmas ever,

Aaron Miller

Miller Law Firm, PLLC
Your Life is Our Life’s Work
101 E. Park Blvd., Suite 600
Plano, Texas 75074
Connect via: Facebook Twitter LinkedIn

PS–If you are receiving this and are NOT a subscriber to our weekly “Straight Talk” Personal Strategy Email series, click here to sign up.

To ensure we don’t make the folks at the IRS ornery, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein. This message may contain confidential and/or privileged information. If you are not the addressee or authorized to receive this for the addressee, you must not use, copy, disclose, or take any action based on this message or any information herein. If you have received this message in error, please advise the sender immediately by reply e-mail and delete this message. PHEW!

This e-zine was originally sent on December 10, 2009.  It may have been edited somewhat from the version that was originally emailed, so be sure to sign up to make sure you are getting our e-zines fresh!

“The past does not define you, the present does.”
- Jillian Michaels

Hi Collin County Parents,

I just got back from sharpening my legal saw at a three day seminar in Phoenix.  It reminded me of all the years my family and I went to Phoenix (Mesa, actually) when I was a kid to visit my grandparents for Thanksgiving.  Nice weather during the day, but a little cool in the evenings!

Well, we are all gearing up for Christmas around here.  My oldest daughter has her school choir concert this week, which should be fun. We’ve got the tree up and decorated and we are all set (well, we would be if we could find the elusive Zhu Zhu Pets, whatever those are ).

This week I thought I’d share some success strategies of John Paul Getty that I recently ran across.

Let me know your thoughts!

Aaron Miller’s
“Straight Talk” Personal Strategy
The Billionaire’s Strategy For Success

John Paul Getty became the richest man in the world during his time by practicing a few basic principles of risk-taking and reward throughout his life.  Regardless of whether you run your own business or not, they apply.

How To Assess A Decision
Whenever John Paul Getty was considering a business decision, he would ask, “What’s the worst possible thing that could happen in this situation?” Then, when he was clear about the worst possible outcome, he focused all his attention on making sure that it didn’t happen. You can apply this technique to every risk situation or investment you ever make.

The Billionaire’s Strategy for Success
Remember Murphy’s Law: “Whatever can go wrong will go wrong.” There are several secondary laws to Murphy’s Law, such as “Whatever can go wrong will go wrong at the worst possible time” and “Of all the things that can go wrong, the most expensive thing will go wrong at the worst possible time.”

Another sub-law is “Everything takes longer than your best calculation.” Whenever I get together with business owner friends, many of them ask me how I think about this issue. When that happens, I suggest that they take their very best estimate of break-even for any business venture and then triple it to arrive at a more realistic number. I’ve found that whenever I encourage a friend about this, they are amazed to find that, in spite of their best initial calculations, it indeed takes about three times longer than they thought it would to start making money.

Always Add A Fudge Factor
Another sub-law is “Everything costs more than you can possibly anticipate in advance.” In minimizing risk in any venture, always add a “fudge factor” to account for the degree of uncertainty. Whenever I do a business plan, I always add 20 percent to the total of all costs that I can identify, to come up with the probable cost. Anything less than this, whether in business or your personal life, is likely to be an exercise in self-delusion and open you up for some unhappy surprises. Once you have identified the worst possible things that could go wrong, make a list of everything that you could do to offset these negative factors. Engage in what is called “crisis anticipation.” Look down the road, into the future, and imagine every possible crisis that could arise as the result of changing external circumstances.

Do The Things You Fear
One of the very best ways to develop your ability to take intelligent risks is to consciously and deliberately do the things you fear, one step at a time.

A very good way to overcome the fear of risk taking is to set clear, written, measurable goals for yourself, and then to review those goals regularly. When you have clear goals and plans, and you continually work on them and evaluate your progress each day, you will see what you’re doing right and how you could improve your performance. You’ll feel more competent and capable and better about yourself. You’ll become more thoughtful and reflective and willing to take on even greater challenges. And your likelihood of success will become greater and greater.

Action Exercises
Now, here are three steps you can take immediately to put these ideas into action.

First, take any worry situation in your life today and ask, “What is the worst possible thing that could happen?” Then go to work to make sure it doesn’t occur.

Second, look into the future in your life and determine the worst things that could happen. Engage in “crisis anticipation” regularly and continually be taking steps to guard against them.

Third, work from clear, written goals and detailed plans. Review them regularly. Consider alternatives and always look for ways to increase the likelihood of your success.

I hope this helps!

To your family’s wealth, health, and happiness!

Aaron Miller

Miller Law Firm, PLLC
Your Life is Our Life’s Work
101 E. Park Blvd., Suite 600
Plano, Texas 75074
Connect via: Facebook Twitter LinkedIn

PS–If you are receiving this and are NOT a subscriber to our weekly “Straight Talk” Personal Strategy Email series, click here to sign up.

To ensure we don’t make the folks at the IRS ornery, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein. This message may contain confidential and/or privileged information. If you are not the addressee or authorized to receive this for the addressee, you must not use, copy, disclose, or take any action based on this message or any information herein. If you have received this message in error, please advise the sender immediately by reply e-mail and delete this message. PHEW!

This e-zine was originally sent on November 25, 2009, the day before Thanksgiving.  It may have been edited somewhat from the version that was originally emailed, so be sure to sign up to make sure you are getting our e-zines fresh!

“Small deeds done are better than great deeds planned.”
-Peter Marshall

Hi Collin County Parents,

Happy Thanksgiving!  I truly hope you and your family have the best Thanksgiving ever!

I’m busy tying up loose ends around here so that I can take some time off with the family.  We are smoking a turkey this year and I can’t wait to taste it!  The turkey has been defrosting in the fridge since last Tuesday, but I think I may have to help it along — earlier today I pulled a frozen can of Diet Pepsi can out of the fridge, so I think I may have the fridge turned down a little too cold.  Yikes!

Thanksgiving is a great holiday, because it is a time that we can all stop and think about what we are most thankful for.  I’m thankful to have a God and family that loves and supports me, a business that I love to run, and folks that let me help them protect their families.  Really, what more could you ask for?

Despite the Thanksgiving week, I still wanted to give you something here that you could use.  Recent news revealed that thousands of Hotmail passwords were hacked, so here are some tips I ran across for making sure it doesn’t happen to you!

(And, again–please do feel free to send comments. I read every email that comes my way!)

Aaron Miller’s
“Straight Talk” Personal Strategy
How To Protect Your Online Passwords

It’s been in the news that 30,000 passwords for Hotmail and Gmail accounts were stolen recently. Small wonder, right?

Well, a security group analyzed those passwords and found that the most commonly used password was “123456″! If that wasn’t bad enough, the second most common password that was used…yep, you guessed it…123456789.

In today’s electronic environment, that’s unbelievable. We no longer live in a world where we can use a simple string of numbers or a child’s name as a password. They’re just too easy to hack…and the results can be much more devastating than merely finding your emails made public.

The problem is that we all have so many passwords. So how do we make strong passwords that we can actually remember for every account?  Personally, I don’t bother remembering them.  I use a program called Roboform to keep my passwords.  But even if you use this program or something similar, the passwords you save are only as good as you make them.

The tips below can help you avoid the most common password pitfalls and even implement a few new ideas that will make your passwords easy to remember…and hard to break!

Avoid The  “Easy to Guess”
There’s no way around it…a well-protected password is hard for other people to guess. How do you do that? It’s pretty simple really. Just follow this advice:
- Use a random string of characters. That means no sequential letters or numbers, like those Hotmail accounts that used 123456!
- Make it looooong. The longer the better–even up to as many as 10 to 14 characters if space allows.
- Switch things up. Use a combination of upper and lower case letters, along with a few numbers mixed in the middle or end.
- Don’t use substitute symbols in common words. Using “@” for “a” or “1″ for “I” may look good to you, but most hackers are smart enough to break those substitutes rather quickly when the password consists of a common word.
- For that matter, avoid easy targets like words straight out of the dictionary or things like family names and birthdays.

Mix Things Up
Most of us cheat when it comes to passwords. We have trouble remembering our passwords, so we come up with two or three that we can remember and use them everywhere.
But…you should avoid the temptation! That’s because all of your accounts will be vulnerable if even one account is compromised. The reality is, you need to create and remember multiple passwords–a different one for each account! Fortunately, it’s easier than you think. Just follow the steps below.

A Simple Roadmap for Memorable, Yet Hard To Hack Passwords
Good passwords come down to two things: (1) they’re easy for you to remember and (2) they’re hard for others to break. Here’s a sure-fire tip that can help you achieve both!
1. Think up a phrase. Instead of a common word or family member’s name, think up a unique phrase that only you know. For example, you may think up something off the wall such as “I Like Short Hair Too.”
2. Make it an acronym. In our example, “I Like Short Hair Too” would become ILSHT.
3. Add Complexity. Remember those substitutes you’re not supposed to use with common dictionary words? Well, you CAN use them with your acronym. For example, “I Like Short Hair Too” can become “1 Like $hort Hair 2″ which makes: 1L$H2. You can also use upper and lower letters to make it 1L$h2. The point is to be creative, but in a way that you can easily remember it.
4. Make it unique. A password is only really unique if you use it for one account and one account only. So you can’t just use 1L$h2 for every account. And, in reality it’s still too short.

Here’s the key to the whole process: Mix in additional letters and numbers that are unique to each account. For example, if you’re logging into a “gmail account” you can use the “gm” and “@cct” (for acct) to make: 1L$h2gM@cct. Then, for a Netflix account, you may use: 1L$h2Nf@cct. That way, you’re passwords will be hard for others to guess and unique to each account, but also easy for you to remember!

Of course, these are just examples. You’ll want to be creative and think up your own acronym and ways to add unique characters for each account. And then keep that little secret to yourself so no one will be able to guess your account passwords.

Follow these simple steps and you’ll have passwords that are tough to break, unique to every account, and easy to remember. And if you have children in your house who are starting to use passwords for email and IM accounts, teach them these steps to help educate them on the importance of strong passwords – they’ll thank you later in life!

I hope this helps!

To your family’s wealth, health, and happiness!

Aaron Miller

(Now I’ve got to go finish defrosting that bird!)

Miller Law Firm, PLLC
Your Life is Our Life’s Work
101 E. Park Blvd., Suite 600
Plano, Texas 75074
Connect via: Facebook Twitter LinkedIn

PS–If you are receiving this and are NOT a subscriber to our weekly “Straight Talk” Personal Strategy Email series, click here to sign up.

To ensure we don’t make the folks at the IRS ornery, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein. This message may contain confidential and/or privileged information. If you are not the addressee or authorized to receive this for the addressee, you must not use, copy, disclose, or take any action based on this message or any information herein. If you have received this message in error, please advise the sender immediately by reply e-mail and delete this message. PHEW!