Hi, my name is Dora. I chose a career as an accountant and, from my earliest working days, settled into the ambitious realm of taxation. The Tax Reform Act of 1986 was recently enacted and codified the most sweeping changes to tax law since The Internal Revenue code of 1954. Many accountants that started out doing financial statements audits were transitioning their careers to taxation.
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Anyone that thinks an accounting career is a piece of cake should know the reality. It’s anything but an easy way of life. There’s no work/life balance as accounting firm partners squeeze the lifeblood out of their employees, requiring them to work almost every waking moment. April 15th is the only date that stands out in the public’s mind, but there could be a deadline the 15th of almost every month of the year. An enthusiastic worker soon finds that life passes them by and the constant workload leaves little time for even a passing thought to register. There began my addiction to my career.
I’d always been interested in investments, but was sorely misguided. Before the internet, the only sources of information were the library or the bookstore. I read a number of books, like Beating The Dow, A Random Walk Down Wall Street, and a number of other classics. Unfortunately, the thought of investing in something and waiting ten years for a payoff was beyond my timeline. I wanted immediate financial satisfaction. For that reason, I did nothing. My salary was so low anyway that I couldn’t even establish an IRA.
Luckily, I was born with the Saving gene. As my career progressed, I was able to put money away. My target was to own my own home. Like they say, creating goals helps to manifest them. Years later, I acquired the home where I’ve been living for twenty four years.
About 15 years ago, I realized how well I was able to manage my finances and imagined how great it would be if I could combine my tax background with financial planning expertise. I was secretly looking into a new challenge, and what a challenge it turned out to be.
The Certified Financial Planner (CFP) exam is a thorough, comprehensive, incredibly difficult exam to conquer. However, the topics of the exam encompassed everything I wanted to learn. Therefore, my appetite for anything and everything involving personal finances was not satisfied until I obtained my Certified Financial Planner™ license in 2005.
Within four years, I gave up the grind of the public accounting and the corporate world for a less stressful job and traded it for a life. With time to indulge my other interests, like fitness, reading, and writing, I wrote my first book.
How Ally Found Her Financial Freedom is a fun story with financial planning messages woven into the main character’s desire to learn about money management. I also wrote a short story called Jake’s Financial Transformation. It’s another piece of fiction that points an unguided individual toward financial satisfaction.
I had several reasons for starting this blog. One of the reasons grew from the waning of my career addiction. My new love affair is with wealth accumulation and early retirement. I worked my butt off in my career only to find that you can never make others happy. I’m OK with leaving behind the need for constant approval.
Another reason was to share my knowledge. I breathe money issues and see money as the undercurrent of life. That passion, along with the technical knowledge acquired from earning the CFP license, gives me the motivation to discuss money with anyone that will listen. A blog is a great way to vent.
Now that I’m beyond age 50, I am looking forward to the day that I can wake up and stare at the ceiling for as long as I want. My most difficult decision will be deciding between a yoga class, a Pilates class, a rowing class, or doing an in-home workout. I’ve lived long enough to know that you get what you ask for – so I know it’s coming.
My goal is to retire comfortably at 59 1/2. I’ll write about reaching my goal, the accumulation of wealth, and some mistakes I’ve made.
I’m a CERTIFIED FINANCIAL PLANNER™ and CPA in the New York metropolitan area. I have more than thirty years of experience in accounting and taxation. With a flair for budgeting and money management, I’ve taken to writing to promote financial literacy. My objective is to present complex topics and explain them in an easy-to-understand, memorable manner. I earned a bachelor’s degree in accounting from Adelphi University in Garden City, NY, and a master’s degree in taxation from Baruch College in New York City.
I’m a member of the American Institute of CPAs, New York State Society of CPAs, and Financial Planning Association of Long Island.