Managing Money in a Bleak Economy
Ben Singer ’98 M.B.A., vice president and portfolio manager at Citizens Bank Wealth Management in Providence, R.I., spends his workday making investment decisions for his clients — a real challenge in today’s economy. Below are some of Singer’s views on keeping your money safer and being prepared for hard times.

• Understand your own investment timeframe and risk tolerance, and make sure your mix of cash, stocks and bonds fits them.
• Stay away from investments you do not completely understand. Last year’s best performing stocks or funds may not be the best this year.
• The lowest risk is found in FDIC-backed accounts and short-term U.S. treasuries.
• Do not rely on the government as your sole source of retirement income; invest in your 401(k) or an IRA to take advantage of the tax benefits.
• For major investment decisions, talk to an investment professional to avoid bad choices.
• Prepare for a potential job loss by saving enough to cover a minimum of three to six months’ expenses.
  

Global Jobs Take Special Skills
With the economy and workforce going more global daily, Associate Professor Roger Achille, J.D., of the Alan Shawn Feinstein Graduate School on the Providence Campus, offers insight into some of the challenges of working in another country or for a global company.

Work in human resources (HR), says Achille, requires an understanding of the employment laws of that country since they go hand-in-hand with H.R. Not all countries share U.S. workplace protection laws. “In the U.S., the Family Medical Leave Act is 12 weeks for the birth of a child; in France, maternity leave can increase to 26 weeks for a woman’s third pregnancy,” says Achille.

He advises those who plan to work for a global company to learn as much as possible about the culture and communication of the country of employment. Countries deal differently with work and family balance, gender issues, work ethic and more. Brazilians may view Americans as “too rushed and serious,” while the Japanese may view them as “relaxed and spontaneous.”

“A manager would not be able to take the same approach towards a Brazilian workforce as a Japanese one,” Achille says, noting communication differences even among English-speaking people. In England, to “table” a subject means to bring it up for discussion; in the U.S. it means to postpone a discussion. The more familiar you are with a company’s language of origin, the better you’ll be at your job.
Email > roger.achille@jwu.edu