Poor Ruth Madoff.

Bernie Madoff’s wife is now crying broke because she has been stripped of all but $2.5 million in assets. In New York her duplex apartment was worth $7 million.

The fascination with money and its excesses are intriguing. Last week, I read an article about the lack of skilled trade workerswho are needed and the positions pay $22 an hour which would be over $45k a year. Additionally there were other engineering positions that employers were having difficulty filling which paid $50k+ a year. In the East, people were crying that you can’t afford anything on that wage. While in other parts of the country $45-50k annually might not get you into a fancy country club but you wouldn’t be broke either.

How far money will go depends on your location in the country. Real estate prices in larger coastal cities may be higher than in the middle of the country, though decent homes in good neighborhoods can still be had for people making $50k a year.

Mrs. Madoff who was allegedly not a part of her husband’s business dealings still gets to keep five times more than the maximum payment that claimants may receive toward their investment losses.

In most parts of the world, $2.5 million dollars does not make you poor. In a relative sense when you had more and lost the majority of your holdings, then a paltry $2.5 might seem like a poverty level when compared to $65 million or more. Yet, for people who lost their live savings to leave with $2.5 seems like a dream.

Ruth Madoff’s salon and florist (among others) no longer want her business, so she may not have to worry about her $2.5 going very fast. Some buildings don’t even want her to live there, so her millions may go a lot farther than originally thought. If people can survive on $50k a year, R.M. should be able to do it as well.

Ponzi schemes. When things sound too good to be true, they usually are. Even if someone is a friend, check out what they are telling you.

Bernie Madoff received the maximum sentence for his crime. Yet, his incarceration won’t bring back the life savings to those that he bilked out of millions of dollars.

He apologized.

“I live in a tormented state for all the pain and suffering I created,” Madoff said. “I left a legacy of shame. It is something I will live with for the rest of my life. Saying I’m sorry is not enough. I turn to face you. I know it will not help. I’m sorry.”

The Securities Investor Protection Corporation already has over $61 million in claims made by nearly 9,000 Madoff investors. The SIPC will also pay up to $500,000 for eligible claimants who lost money to Madoff.  The SIPC works with a trustee in the even that a brokerage firm fails and owes money to investors.  Hardship cases are also being given priority and their claims are being expedited.

The worst part about this is that with so many people out of work, it is possible that there are more similar illegal schemes like multi-level management and Ponzi schemes just looking for more gullible folks to participate. The unemployed need to be wary of “great opportunities” offered by a company seeking salespeople for their products and require that you bring in more people to sell or asking you to refer friends to a great opportunity.

When something is great or horrible you want to tell your friends. It is when things are mediocre that you say nothing. When you have a great experience anywhere you tell others – a great return of your income or a great chance to make more money. Good or bad, check it out.

Investigate on your own, if something doesn’t seem right even if it legitimate, then don’t go any further with a “job opportunity” or investment.  Investments are not mandatory, they are optional. When you want to work and have been out of work for a while, some work opportunities seem great – this does not mean that they are legitimate. With investments, the best option is not to put all of your money into one type of account. Nothing is certain and sincere is are many way that people have spent their money. For a job opportunity ask how much you have to spend in order to get a position. If you are required to recruit a certain number of people or do something that you are uncomfortable with, leave the opportunity.

Still want to enjoy things that you used to like vacations? Dinners with friends or vacations keeping you from some social activities? If you are un- or under-employed you might not have the same amount of money you formerly earned. Or if you were forced to take furlough days or a pay decrease then there is just less money to go around.

As you parents used to say when you were younger, if they are really your friends then they won’t have a problem. True friends don’t want their friends to have financial problems. If you can’t afford to go on a vacation with friends then tell them. If  you were living a larger lifestyle funded by credit cards and are trying to pay down debt, be forthright. People who only like you for your money or won’t accommodate plans occasionally so that you can do something with them aren’t your true friends.

In hot weather, water is your friend.  But after a while, plain water can get boring. No problem! In the summer many stores have lemons and limes on sale. This past week I saw limes on sale, 15 for $1. One lime wedge can give you a little zip to your water.  Limes aren’t the only fruits that add extra flavor to your water. You could also use some frozen mixed berries. Also, there are single serve packages that you can add to a pint or 20 ounce glass or bottle of water, which are convenient for people who have their own bottles of water on the go.

Freezing your own water so that you can take it on a picnic or to have with you at work is a nice treat as well. Some containers you cannot freeze but don’t fill the bottle to the top. Add your lime wedges or other fruit before you freeze your water and you will get a nice little lift to your water for less than the price of packets.

Ever notice how the water in a restaurant always seems like a treat because it is extra cold? Add ice and a wedge of fruit. Even a splash of juice like cranberry, grape or grapefruit will convince you that you aren’t just drinking ordinary water.

There are some good unsweetened water additives, but many are not unsweetened. Check the label. Sugar free does not mean without sugar. Sugarless means no sugar. For people who want a little more zip to their water, try unsweetened beverage mixes (i.e. punch mix) and just use a dash or two. A package that is supposed to make a half gallon or so will work for several quarts of water – this is for flavoring not to make punch.

This morning before 8 a.m., it was 80 degrees.

Last week it was on the cool side for June. This mean it is time to turn on the air conditioner.

To save money but still stay cool, close the blinds or drapes and run the fan. This way the air conditioner doesn’t have to work as hard. The newer more efficient energy star air conditioners make a difference in your electric bill. Just because it is 90 outside, doesn’t mean that you need to have your air conditioning set at 68. Air-conditioning units also remove humidity from the air so a 72 or 74 degree setting with a fan going and shades drawn will make it very comfortable inside.

If you have peak periods of sun near your home, keep the curtains drawn during that time. Even if it is early, the sun can really heat up your home and your air conditioner will have to work harder. Generally, there is enough outside light, so you don’t have to turn the lights on either.

Fans do not use as much electricity as air conditioning units. If you aren’t home during the day, use a timer to turn the ac on an hour or so before you get there, so the house will be cooler. Keep the shades and blinds closed during the day so that your home won’t be as hot.

For walkers, runners and bikers, don’t go out in the peak of the day unless you have to, and drink plenty of water.

Stay cool!