2.0 Career Basics Course, Summer 2025, Day 7
Gerald Doyle
Human Centered Design and Innovation: "You know, I believe it's sometimes even good to be ridiculous. Yes, much better. People forgive each other more readily and become more humble, ..." Fyodor Dostoyevsky, The Idiot
"In a world where any superpower conflict leads to mutual assured destruction, only small-scale conventional wars are possible."
"It is not that citizens of modern states have no economic interest in their national debts; it is rather that, because of financial intermediation, they are scarcely aware of having one."
~ James Macdonald, A Free Nation Deep in Debt: The Financial Roots of Democracy
Download Your Bank Statement (and Determine Your Runway)
... At various points throughout your career, there are times when you don't have the resources you need, and in those moments, it is more important than ever not to ignore your financial reality. This exercise can be used to get any information that you need that you have been ignoring ...
TODAY's Exercise
The task is about gathering and analyzing your financial information. You don't have to make any judgments, changes, or decisions. Just do the following:
Determine Your Runway
Once you have your bank statements (and other financial information) and know what your financial situation looks like, you have to determine how long your money will last. The length of time is called your runway. Do the following steps to figure out your runway.
Note: This is either ...
For me, ... if you're reading this and have recently lost your job, or decided to transition to a new position that's more aligned to your purpose and mission -- or, if your partner, spouse, parent or child/dependent is going through something similar, know that these are difficult conversations; sometimes these conversations have remained dormant for years -- if not longer; and sometimes, they result in other necessary individual or family conversations. These are not easy -- and take time. If professional assistance is available to you -- and if you believe that this would be helpful, I would encourage you to take advantage of the counseling (financial, personal, and family) that is available to you.
For me, if you're reading this and preparing for retirement or thinking that a career/job change is in the future, then begin these financial decision-making and planning conversations, as well as others, such as what happens when you (and we) leave this earth. The questions we must ask ourselves include asking if our house and affairs are in order and whether we're prepared to sustain ourselves, our families, and those we care about through stormy and uncertain times.
For me, downloading my bank statements and determining my runway has also caused me to think about earning power, potential, and possibilities. In my 60s, what will work and income look like into my 70s, 80s, 90s, and, the spirit willing, into my 100s. Who knows? No day is promised to us, and yet if we are to live in the future, we must be absolutely present in the present -- acknowledging our past.
For me, ... the process of downloading my bank statements and determining my runway is also about ensuring that this is the life that I'm meant to live, in service of others.
For me, these questions have been a challenge at times; be sure to include trusted individuals and family members in this conversation and role model honest dialogue.
Good luck; the road ahead will be a good one with some bumps, curves, and detours along the way. Be well. Much peace.
Good luck with this exercise.
All the best to everyone; thanks for accompanying us on this journey.
Gerald,
P.S. I'm very pleased to be joined in this process by my good friend and colleague, Al Nunez, and Parian Hatami.
THOUGHT FOR THE DAY: Register to VOTE; get involved at the local, city, state, and national level, wherever you live.
Appendix:
The Career Basics Course was originally offered across 10 Weeks, beginning in February 2023.
Here's a link to the companion article from two years ago: