3-2-1: LNO Productivity Framework // Pink Tax // CCC Mental Reframing Technique

Estimated Read time: 3 mins 21 secs

Hey, I’m Janet! I started Doing Well because I have felt the shame and overwhelm that comes with navigating personal finances on your own. We are here to empower you through monthly bookkeeping and personal 1x1 coaching so you can have the confidence and peace of mind to live your best life.

// 3 tips //

1/ LNO Productivity Framework

“Doing great work doesn't mean that you put in your best effort for every task.” [Source]

• 🟢 L: Leverage (~10X)

  — High priority. Do your best. Let your inner perfectionist shine.
  — ex. calling clients, strategy planning, converting prospects

• 🟡 N: Neutral (~1X)

  — Necessary but won’t move the needle. Do an okay job.
  — ex. customer support, creating SOPs, internal updates

• 🔴 O: Overhead (<1X)

  — Lowest priority…Just get it done.

  — ex. email management, data entry, meeting coordination

2/ Pink Tax: Cost of Being a Woman
We break down all the hidden costs of being a woman: period poverty/tampon tax, housing/transportation costs, gender pay gap, motherhood penalty, healthcare costs, etc. Happy Women’s History Month! 

3/ CCC Mental Reframing Technique
Learn to replace unhelpful thoughts that cause stress and anxiety by breaking the cycle. [Source] 

// 2 questions //

1/ Question: What to do with tax-deferred retirement accounts after termination?

Answer: There are a few different advantages. Consolidating all the accounts will make it easier to keep track of so you don't forget anything and leave it behind. You'll also probably have more investment options in an IRA versus the 401k's. The only account I wouldn't move right now is the 457 for the exact reason you pointed out. Plus, you could always move it in the future if you wanted to!

2/ Question: Starting at 36. What should we aim for income-wise?

Answer: I would focus on one thing at a time. Let's forget about another child for the time being, until you feel good about the situation. First, if your partner works remote, then I'd leave California and move somewhere cheaper. If you can't move, then I'd focus on lowering expenses as much as possible. Try to put as much into savings as you can for right now. If you can't save anything at all even after cutting expenses, then you'll have to compare future scenarios. If you absolutely want to finish school and open a private practice, then just know that you'll have a lot of making up to do. Which is completely fine. If you can make up for lost time, then keep going. First thing though, is coming up with a strict budget and start saving before thinking about anything else!

Any questions? Email us at [email protected] or book a coaching session.

// 1 smile //

Doing Well is here to be your partner in financial management and put you on a steady path to personal financial success. 

• Build a solid financial plan and budget based on your personal needs
• Categorize and organize your expenses to be CPA-ready
• Provide clarity into your credit, spending and debt situation
• Conduct audits of your insurance coverage and retirement plan
• Recurring live coaching calls and ongoing support tailored to you

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