Small signs are afoot showing that the economy is on the slow rebound. The unemployment rate remains at an all-time high, but the monthly job losses in May were lower than expected. The Commerce Department reported that wholesale inventories declined again, though these declines were also smaller than expected. And yesterday, it was announced that ten banks will be able to repay the bailout money lent to them. These are all encouraging signs; evidence that consumer confidence is improving. Yet, I cannot seem to shake my need to temper that confidence with more talk about risk and risk management.

Many of you know that I am an avid runner. I returned to running about ten years ago after a more than ten year hiatus. And, I guess one could describe me as somewhat of a purist. By that I mean, I can slow down when I get tired or find the hills too challenging but walking is not allowed. I have read on several occasions and from various sources that a combination of running and walking is actually better for you than straight running. But every time I have tried this approach, it has never lasted for too long--my ego always gets in the way. I succumb to the voice in the back of my head that says walking is wimping out.

Last week, an article ran in the New York Times that made me reconsider my stance on running without interruption. Tara Parker-Pope, the article's author, is training for the marathon, and her regime includes taking structured "walk-breaks." The crux of the article lies in its irony; it is fairly easy to embrace the notion that if you walk a minute for every mile you run you can minimize your risk of injury. But increase your speed?

Inspired by the examples she noted in "Better Running Through Walking," I decided to give the run-walk method another shot. I walked a minute for every ten I ran, and to my surprise I did increase my speed! I shaved a minute off my time.

I'll keep you posted as to whether or not I remain consistent and become a true convert to the run-walk approach to running. (The ego is a hard thing to quiet down!) But during my last run-walk, I couldn't help but wonder about the potential benefits we might derive, individually and collectively, if we all adopted a run-walk method to the management of our finances. Just as a run-walk combo has the potential to reduce a runner's risk of injury and increase his/her speed; "run-walking" our money could potentially increase our ability to see and heed financial warnings before it is too late, not to mention potentially minimizing our losses while increasing our gains.

Instead of revisiting our definition and understanding of risk after the fact--meaning when the tide has turned against us--why not take structured risk management breaks? Runners who follow the run-walk credo don't walk when they are tired; in fact, they slow down when the need to do so doesn't even exist!

I am still pondering what a run-walk method to money management actually looks like. But with summer being the season that represents slowing down, now seems an ideal time to dig deep into the psychology of risk and the many facets of it. Perhaps the summer and winter can be the "walking" seasons and the fall and spring the "running" ones? That level of detail can be figured out in the coming months. But in the coming weeks, we have a two-part tele-seminar to help get you started, "Risk & You - What You Really Need to Know."

Session Two: "Risk, You, and Your Financial Team"

Do you outsource any or all of these financial activities: tax preparation and management, financial planning and asset management, insurance planning, estate planning, compensation planning, bookkeeping, etc.? Do you defer and/or delegate decisions regarding these same financial areas? If you answered yes, you need to be on this call!

The winter and spring 2009 installments of the tele-course, "Get Back to Basics and Save Your $anity," went so well we've decided to make it a staple offering. It will now be offered four times a year! The next installment will commence in September 2009--dates will be announced later this summer.

This seven and half week tele-course will help you:

• Focus on what you can control,
• Get (or stay) off the panic train, and
• Reconnect with timeless, yet timely, financial principles.

What we will cover each week:

1. Create a Clean Slate
2. Get Clear About Your 2009 Goals
3. Get to Know Your Dominant Financial Behaviors
4. Create a Financial Roadmap, Part One
5. Create a Financial Roadmap, Part Two
6. Create a Career Roadmap for Now and Beyond
7. Wrap-Up & How to Stay on Track

The "half" session is a 90-day follow-up session so that we can reconnect to measure your success!

Each session is sixty-minutes in duration and held over the phone. So, you can participate in this seven and half week course from the comfort of your home or office. And if you miss a session, no worries: all of the sessions will be recorded and immediately available as a MP3 you can download.

Dial-in instructions will be furnished at the time of registration.

What you will get:

Your investment:

There is an expression that says, "The plan is useless, but planning is essential." The ultimate goal of "Get Back to Basics and Save Your $anity" is to give you a plan you can work from and to take you through a planning process so that you have the essentials - tailored to your specific needs and wants - to make the rest of 2009 and the years ahead abundant and prosperous regardless of prevailing market conditions!

Modeled after the workshop of the same name, we offer the Stop Treating Your Money So Poorly Workbook (tm). It is a 48-page workbook, which consists of ten worksheets that will provoke you to think about money differently, inspire you to identify and examine your habits and help you make the choices that are right for you, at the right time and in the right way. The workbook is $24.95; the PDF downloadable version is $19.95; both can be purchased directly from Sterling's website. Virtual training support is also provided with your purchase.

Click here for a look inside the workbook.

Privacy: We will never release, sell or give a subscriber's name or email address to any other party or organization. Our subscribers will only receive email messages that contain requested information, new articles or announcements of new services.

Feedback: Feel free to offer suggestions, or contact us if you want to obtain more information about the content or to learn how Sterling can show you how to be smarter with your money.