What is domestic violence? If we look at the definition put forth by the CDC it says there are four main types of intimate partner violence (domestic violence), physical violence, sexual violence, threats of physical or sexual violence and psychological/emotional violence.

The WHO (World Health Organization) has similar definition "behaviour within an intimate relationship that causes physical, sexual or psychological harm, including acts of physical aggression, sexual coercion, and psychological abuse and controlling behaviours."

Both organizations do not recognize economic abuse as a type of domestic violence. I am a survivor of domestic violence and during my marriage I was physically, emotionally and sexually abused - and I was also economically abused.

When we married I was a naïve teenage bride who had no idea what abuse was. I was also never taught how to manage money. Money wasn't discussed in our home. So when I left at age thirty nine I didn't even have my own personal checking account.

My story is not unusual.  Most women who are in abusive relationships don't have access to money or credit cards of their own. And, when a woman leaves the abuser she can count on the abuser cutting her off from any family funds.

The abuser controls the finances as a means of control over the victim. Economic abuse is a device used by the abuser which prevents the victim from leaving as the victim does not have any financial resources of her own. If the victim has no financial resources she is stuck in the relationship and the abuser knows it.  The sad reality is most people do not even think of economic abuse when they think of domestic violence. The "scars" from economic abuse are not visible but will have lasting effects long after the abusive relationship has ended. These economic scars will wreck a woman's credit rating and make it almost impossible for her to obtain employment or secure housing.  And for many women the lack of financial resources will drive her right back to the abuser.

I AM Successful!

Last month our affirmation was "Wealth Is Pouring Into My Life" and I talked about how important it is to write down you vision-your plan and take steps everyday to move your plan forward. This month we continue that process by affirming "I AM successful".  

Affirming "I AM successful" will keep you focused on your goals and success will follow you wherever you go.

Take time each day to allow your affirmations to cheer you on so you can do what is necessary to be successful.

WGEM/News Talk Live with Rich Cain and Greg Haubrich from Quincy, IL

CKTB/Niagara at Noon with Stephanie Sabourin from St. Catherines, ON

On The Air With Tony Sweet from Los Angeles, CA. I want to thank Tony and Regina for me as one of their favorite authors http://www.onairwithtonysweet.com/about.html. You guys ROCK!

Mississippi News Network/On Deadline with Sid Salter from Jackson, MS

CILV-FM with Katfish and Dave Schellenberg from Ottawa, ON

A League of Our Own with Fran Spencer 88.7 FM WRHU from Hofstra University. Here is what Fran had to say about the interview.   

"Victory Over Violence is Nancy Salamone's story. 

She tells of how she was a Wall Street Executive during the day and a battered wife at night.  Hers is a moving story of one who went from victim to victor to living angel.  She is my guest this week on

Nancy not only recounts her story, but also tells how, through her program called The Business of Me, she facilitates the healing and financial self sufficiency of women survivors of domestic violence."

Focus Communications/A Touch of Grey Radio Show with Carole Marks

CNN Radio with April Williams from Atlanta, GA

WGMZ-FM - WAAX-AM with Rick Sisk from Gadsden,

KWRE-AM/Morning Show with Steve Barnard from Warrenton, MO

WDIS/Talk of the Town with Dan Collier from Norfolk, MA

By Morgan Stanley Smith Barney LLC. Courtesy of Susan B. Silberman, CRPS, Financial Planning Specialist, Financial Advisor, Morgan Stanley Smith Barney
140 E. Ridgewood Avenue, Paramus, NJ 07652
201-967-6285, 800-526-0829

October 5, 2010

Why Rebalance Your Portfolio?

Simply stated, staying the course doesn't mean driving with blinders.  Investors should monitor their portfolios regularly to determine if they support and respond to their financial goals. 

For years, investors have heard the mantra of investing for the long term.  That is, to create a portfolio based on your goals and stick with it despite the rumblings of a fickle market or the allure of popular trends. In theory, this is a suitable strategy for many investors, but staying the course wisely shouldalso acknowledge the need for the occasional mandatory detour, taking on additional passengers, having fender benders and making complete about-faces. The better prepared a portfolio is to respond to these unforeseeable life events, the more likely it will be able to help you reach your desired financial destination.

Annual rebalancing

Annual rebalancing is key to the long-term health of your portfolio. Rebalancing involves shifting assets from one type of investment to another to bring a portfolio in line with an asset mix created for specific goals. If this action is done on a regular or automatic basis, you can help ensure that your portfolio stays on track.

Many mutual fund companies offer the option of automatic rebalancing within various investment programs. This service can help investors avoid micromanaging their portfolios and it furthers the lines of communication between an investor and his or her financial advisor. In addition, this enforces use of the commonly embraced discipline of selling high and buying low.

Seven Rules of Effective Portfolio Maintenance

• Construct an initial portfolio with a goal-sensitive allocation of stocks, bonds and cash. Keep informed about the subsets and varieties of these categories.
  

• Be aware of your short- and long-term goals when designing your portfolio.

• Generally, make more comprehensive rebalancing an annual event. Many experts agree that investors who rebalance at this interval or slightly longer reap many of the same benefits as those who do so more often.
  

• Remember that rebalancing comes from paring down or eliminating specific investments in a portfolio. In many cases there may be tax consequences, like realized capital gains. Try not to burden yourself with tax liabilities you may not be prepared to handle. Yet at the same time, you must weigh the benefits of overall return over some tax savings.

• Don't rely on natural progressions in the market to rebalance a portfolio. But keep in mind that this practice is not applicable to total equity portfolios, because stocks typically appreciate over time.
  

• Consider contributing to your portfolios via a systematic or dollar-cost averaging strategy. Systematic investing, the process of making consistent contributions on a regular basis, can help bring you closer to your financial goals.

• Stand by your plan. Your portfolio was created to respond to a number of scenarios and goals. Don't allow yourself to be easily swayed by the latest trends, but do contact your Financial Advisor if you feel the need to make a change.
  

Susan B. Silberman, CRPS is a Financial Advisor at Morgan Stanley Smith Barney located in Paramus, NJ and may be reached at fa.smithbarney.com/susansilberman.

Diversification does not protect against loss.
Dollar cost averaging does not ensure a profit or protect against a loss.  Since such a strategy involves continuous investment, you should consider your ability to continue purchases through periods of low price levels.

Morgan Stanley Smith Barney LLC and its affiliates do not provide tax or legal advice. To the extent that this material or any attachment concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law.  Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor. 

© 2009 Morgan Stanley Smith Barney LLC.  Member SIPC.

I have always thought that truly successful people are "self-made" and that only their innate talent is what made them successful. In "Outliers" Malcolm Gladwell wants to convince us that "People just don't rise from nothing. We do owe something to parentage and patronage." Further Mr. Gladwell believes that successful people "are invariably the beneficiaries of hidden advantages and extraordinary opportunities and cultural legacies that allow them to learn and work hard and make sense of the world in ways that others cannot."....MORE