Summer Reading

The other evening I was browsing in the local Barnes and Noble trying to escape the brutal heat wave that had gripped the Northeast. There was quite a crowd of parents and middle school students at the summer reading tables armed with lists provided by the local high schools. Many of the usual suspects were present-The Adventures of Huckleberry Fin, The Old Man and The Sea, Night, The Diary of Ann Frank, The Boy in the Striped Pajamas, and the requisite number of Shakespeare plays.

On a nearby shelf I noticed a series of books entitled “Flash Kids Books.” Since these were new to me I decided to investigate further. Flash Kids workbooks are are published by the Harcourt Company, a major publisher of educational material. This series of books provides study aids for school students and are a great way to reinforce school taught ideas throughout the summer. The books are coded by grade level and are primarily geared for elementary school students. There are separate books for mathematics, reading comprehension and even test preparation (since so many states have high stakes tests that are administered to students every year.)

According to the publisher, the Flash Kids program books are geared to current national teaching standards. The format of the books makes the learning (or reinforcement) fun for children. It is an effective stimulus for summer so that students will return to class in the fall without the usual loss of content knowledge that tends to occur during summer months.

 These workbooks may also be effective for classroom teachers to use during the first weeks of school to aid in re-introducing topics that were taught during the previous school year.

Another workbook series worth investigating is called Summer Skills (www.summerskills,com) this series includes workbooks in math, language arts, and even foreign languages- Spanish, French, and Mandarin Chinese. The series’ publisher recommends that students should spend 20 minutes a day, three days a week, for the summer to stay in shape for the fall. The Summer Skills  books sell for $20  each are only available from the publisher.

Make this a meaningful and productive summer for your students and your children!

Who Killed the Unions?

Wisconsin Governor Scott Walker’s victory in a recall election last week has sent a strong message to labor unions, particularly public employee unions (i.e. - police, firefighters, and teachers) that the mood of America has changed resoundingly. No longer are union members perceived as the downtrodden who had been taken advantage of and abused for decades and needed some sort of legal protection. Collective bargaining laws were designed to be the great equalizer in negotiations with municipalities and state officials.

Public workers yielded the prospects for higher salaries and chances for advancement in exchange for health insurance, a defined benefit pension plan and job security. They chose steady dime over the seldom dollar economics because they felt that they selected a career where they could make a difference- to protect the citizenry and to educate the nation’s children.  But the recent economic downturn derailed that continuum.

Governors, including Walker, Chris Christie of New Jersey, and Ohio Governor John Kasich, in an effort to curry favor with conservatives,  began a frontal attack on unions, cutting benefits, tenure laws, and chastising the unions  for “ breaking the backs’ of state treasuries with their demands and pensions.

The unions are not without fault. In New Jersey for example, it has been next to impossible to fire a tenured teachers who has lost effectiveness. For the school district it was a lengthy and expensive process and many would rather forgo that street fight.  A number public employee unions formed PACs (Political Action Committee) to raise funds for and campaign for favored candidates.

But now the paradigm has shifted markedly to the right. In an effort to remain solvent, states are reneging on their promises to save money. Public safety and public education are two issues that should never be compromised by politicization.  But that is indeed the case. But the public ( i.e.the voters) don’t seem to understand that they can’t have it both ways. Why would someone want to become a teacher in this environment- not knowing if something that was promised to them on the day they started teaching would still be valid on the day they retired? The public can’t stand there and scratch their collective heads wondering why education in the US had dropped precipitously in the world rankings when because of the current hostile environment, the best and brightest college graduates shun teaching as a career option. The voters cannot complain about an increase in the crime rate or of people dying because an ambulance could not get there fast enough on the one hand and refusing to even negotiate with public employee unions on the other.

America has become mean spirited and its politicians have been invoking a double standard, demanding for example that Israelis and Palestinians negotiate a settlement to their differences while refusing to do so at home with their public employee unions. At some point compromise must be the order of the day.

NOTE TO READERS- We are going on hiatus for a week or two as we relocate for the summer. We hope to be blogging again soon.

Teachers- Are You Ready to Retire ?

Teachers and retirement

As we approach the end of another school year, I am sure that a number of you are contemplating retirement. Perhaps, this was the year that you felt you stayed too long. You came home every evening totally drained and having difficulty in devising creative new ways to reach your students.  Perhaps this was the year that you developed a nagging injury or recurring illness that made you less than effective in the classroom. Or finally you had that heart to heart discussion with your spouse and talked about all of those other things you want to do with your life. Whatever ever the reason, retirement is not something that you do on the spur of the moment as it must be carefully planned at least to the extent that you can plan for your future.  Here are ten useful suggestions to consider as you plan for such an important life cycle event.  Disclaimer- I am not a financial planner, investment advisor, tax strategist or any other type of financial consultant.

1)      Contact your state pension office. If you are fortunate enough to have taught in a state with a defined benefit pension, contact a pension counselor to determine your pension entitlement and what options you  may have( is your spouse or children eligible)

2)      Get an estimate of your social security benefits.  The Social Security administration sends you a statement of earnings every year just a few months from your birthday. You can go online (  ) or make an appointment at your local Social Security Office.

3)      Check your insurance coverage. Do you have a life insurance policy and is it sufficient to provide for your family? Do you have long term care insurance? The earlier you get this, the lower the annual premiums will be.

4)      Important documents- Do you have a will and is it up to date. Do you have Power of attorney forms for you and your spouse? Have you prepared a living will and health care directive?

5)      Prepare an estimated annual budget. Will you be able to live on your pension, Social Security payments and any investments you may have.

6)      If you have a 403B or an IRA, meet with your financial consultant to determine what the best asset strategy is for you as you enter retirement.

7)      It’s time to downsize. Do you need multiple cars? Do you have a second home?

8)      Where will you live? I recommend a subscription to the magazine “Where to Retire” as a good place to start. If you are not remaining in your current home, what kind of lifestyle do you want and what can you afford? Consider the tax status of state where you choose to life. Does it have a state income tax? Is there a state sales tax?

9)      If you are remaining in your current home, should you consider a reverse mortgage? Consult your banker for this one.

10)   Try to pay off your debt or consolidate your current debts.

Finally I would like to recommend a book- The Truth About Money (Harper Business Press) by Ric Edelman. Here you will find a great deal of useful information about mortgages, credit card management, and insurance as well as investment strategies.

Here’s to a happy retirement !