Bernard Madoff Clients – What exactly is the Bernard Madoff scheme?!?

What exactly is the Bernard Madoff scheme?!?

I overheard the news today and all I heard was that he owned a famous investment firm and it was all actually a big “Ponzi” scheme since 1960 and I heard $50 billion. What happend and how did he get away with it for so long!??

Bernie Madoff and his 50 billion dollar Ponzi scheme has affected many individuals and organizations throughout the country. The most important factor to remember is that the recovery period begins immediately and continues long after normalcy has been reinstated.  Recovery will be more likely measured by the implementation of steps to prevent a recurrence of this economic period and the events that led to it. Beginning to implement steps to minimize future damage and repair what has already occurred is the direction in which individuals need to move.

Participate – A combination of the Madoff scheme and the market performance has rendered many individuals with less discretionary funds. This means that there may be less money available to donate to charities. This is an opportunity to complement the financial contributions with something more personal. The organizations will always welcome financial contributions, but a gift of time is also helpful. Instead of accepting the fact that the size of annual gift will decrease this year, find ways to make up the difference. This is an occasion to participate and see more of the work that you have supported. Volunteer in a capacity that is comfortable to you and utilizes your skills. Getting more involved with organizations when the financial contributions are not as readily available is one way to seamlessly transition. Helping with planning events provides the opportunity to use a well established sphere of influence.

Influence – Many people have a strong sphere of influence and sometimes enjoy using it to get what they want, but at times they shy away when they need to. In some cases, this reluctance is an effort to maintain a certain level of privacy and avoid the potential of others finding out what that they had a particular need. One’s sphere of influence is a powerful tool that can be used to help maximize results. When planning an event for a supported organization for instance, encourage vendors to donate some goods and services. The sponsorship opportunities can often provide a wining situation for the vender.  Of-course, encourage but not coerce. Some businesses may be struggling to the point where they cannot afford a donation. Encourage friends, colleagues and family excited about helping. Create opportunities for people to contribute according to their talents. Celebrity events are gaining popularity as a method generating high interest without excessive cost – provided the celebrities donate their time. A bake off, a talent show, activities where peers get to showcase their talents and have fun for a good cause. The opportunities are practically boundless.

Engage – During adjustments adults have a tendency to focus on their making the changes and not be as attentive to involving the children. If the adjustments are a family activity it can ease the process on those affected. Instead of trying to make cuts, it is possible to make some small adjustments that can have a significant impact. Discover what the children enjoy and what they have not had a chance to experience. People often become accustomed to a lifestyle and let go of things form their past. Camping is one activity that can be done in style that can be enjoyed by parents who remember the experience from childhood; and children who get the experience with some new twists. When customized to indulge the wishes of the individual, the simplest activities can make the greatest difference. Lavish parties at a club may not be as fun as a unique experience in a location that may be more desirable to children. Instead of promoting the idea of doing what’s normal to children, encourage creative and new.

Creativity – This will be an important tool to help adapt to the post Madoff months, but it can also allow the opportunity to learn some skills that will be lasting. Vacations for instance; there are number of people who have traditional getaways that take place around specific events or times of the year. The hosts (cities, hotels) want these people to return this year despite or possibly because of the current state of the economy. Therefore these hosts are likely to have special incentives that they will offer. This is also a chance to explore other adventures and grow the tradition.  Instead of flying from Paris to London, a train ride, will give the family a new way to see this part of the continent that they have not seen in the past. Instead of seats in the Miami Dolphins’ Hall of Champions, maybe try field side seats. As the practical questions “would it really make a difference to make this purchase today, when I can get a saving by making my purchase tomorrow?

Escapes – When going through a period of change, it is important to take time out to regroup. That is where regular escapes come into play. Continue to engage in life affirming activities. If these were not previously scheduled, devise a plan to include them in the course the recovery process. Being able to escape into fun and relaxation zones allows for time to be reinvigorated and approach plans and concerns with renewed strength and fresh mind. Some times, constant escapes are sufficient, and other times more assistance is necessary. During those times, it is important to seek and receive assistance immediately, in order to avoid prolonging the recovery period.

Self-care – Self-care is of utmost importance during every period in our lives.  Many advertisers pose the question “if you don’t take care of your body, where will you live?” to promote the need for healthy living. Good self-care entails providing for the wellness of body and mind. The mind is the foundation which supports the body. If you don’t take care of your mind, how will your body stand?

This is on way to put the PIECES together to navigate one’s recovery. If implementing these techniques are not sufficient, a professional provider such as a life coach or therapist may be able to help.

© 2009 Judi Cinéas  

I am Dr. Judi Cinéas. I specialize in transition and adjustment.

I work with clients who are experiencing major changes such as loosing their jobs or a substantial part of other sources of income. I help them adjust with the current situation while defining their next step. This may include finding a new position, exploring whether they want to return to the same field, or following a dream or passion. For some this may mean developing a plan for rebuilding assets after a loss due to the current financial crisis.

An added benefit for my clients is that I am a registered psychotherapist in Florida, and I use my clinical experience to help clients learn skills to make long term changes, that they can tap into long after our work is completed.

The organization is Living The Dream- Because you only live this life once. And I believe you can make a living following your passion. That is why I provide life coaching assists clients in reaching their current goals, while preparing them to boldly tackle future challenges, realize their full potential and continue to operate at that level.

Please Visit http://www.drjudic.com for additional information.