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The Arizona Technology Council, one of the largest trade groups in the state, has named six new members to its board of directors.

The additions bring the size of the board to 28 members. The new members are:

' Joe Beery, chief information officer and senior vice president at US Airways.

' Ray Harris, a director with law firm Fennemore Craig.

' Robert Lepore, vice president of engineering at Raytheon Missile Systems.

' Michael Lupien, vice president of sales and marketing at Tucson Embedded Systems.

' Kevin McHolland, a partner in the Phoenix office of Ernst & Young LLP.

' Steve Reinhart, senior executive with JPMorgan Chase in Arizona.

' Susan Schultz, a partner with consulting firm Oakbridge

' Bob Smith, vice president of strategic technology with Honeywell Engine Systems & Services.

The council is a dues-based organization that promotes the legislative and economic interests of the state's technology industry. The organization has about 500 members, including companies and other associations.

The start of a new year is a good time to adjust financial strategies and make money-oriented resolutions. But a thorough review around the middle of the year also can make sense, especially amid a tough economic climate like the present.

Here are eight areas that any review should cover:

' Your net worth.

A high or rising net worth will open many doors for you. It's also a sign that your financial situation likely remains on track, while big asset declines or increases in debt are warning flags.

Calculate net worth by adding up assets, including housing equity, and subtracting debts. Don't include personal belongings unless they could be sold readily in a pinch. There are many ways to boost net worth, such as by saving more and cutting expenses.

' Investment portfolio.

With many stocks and equity mutual funds down sharply this year, now's a good time to assess your portfolio. With a suitable balance of volatile and conservative holdings, you'll be better able to handle bumpy patches in the market and exploit opportunities.

It takes guts, but you may want to shift some money into laggard investments, including hard-hit stocks.

“We saw this as an opportunity to get more aggressive,” said Michael Grosso, a financial advisers at TCI Wealth Advisors in Scottsdale. Many investors, he said, probably don't need to do anything.

' Credit record.

Your credit history affects your ability to get a loan and the interest rate you pay. It also can matter if you apply for a job, rent an apartment or shop for insurance. Credit damage can take years to correct and mistakes happen, so it pays to monitor things.

Anyone can receive three credit reports a year for free — one from each of the three credit bureaus — through www.annualcreditreport.com. Credit scores, which are numerical summaries based on information in credit reports, often cost a small fee. See www.myfico.com for details.

' Insurance policies.

You don't want to face a catastrophic loss without a backstop, but you also don't want to overpay premiums. Review your auto, home and health policies. Consider other types of coverage like disability and long-term care.

Find out what coverage you have. To shop among insurers, check the consumer-comparison guides from the Arizona Department of Insurance at www.id.state.az.us. Consider raising deductibles to save money on premiums.

' Retirement planning.

With the demise of traditional pensions, more Americans must oversee their own retirement plans, yet many people are behind on the task. The median 401(k) account has less than $20,000 in it, and IRAs are underutilized.

Start by funding workplace 401(k)-style accounts to trigger employer matching funds. After that, consider adding unmatched money to your 401(k) plan or diversify into an IRA or annuity. Select a Roth IRA for tax-free withdrawals.

' Credit-card terms.

Even if you pay your card balance in full, stay alert to fees and changes to account terms.

“A lot of creditors have been increasing interest rates and lowering credit limits,” said Michael Sullivan, director of education at Phoenix debt-counseling firm Take Charge America.

Credit-card firms mail notices to customers when they change fees, interest rates and terms.

“You need to read those announcements,” said Sullivan. If it's time to shop for a card, check comparison services like the one at ww.lowcards.com.

' Estate planning.

A sound estate plan allows for the efficient transfer of your assets at death. It also can prepare for other problems, such as the care of minor children in a pinch and your own care and financial assistance if you become incapacitated. Update plans regularly.

Start with the basics: a will, powers of attorney and proper titling on insurance and retirement accounts. Add more versatile instruments like a living trust if they make sense. The Arizona State Bar (azbar.org) offers attorney referrals.

' Income taxes.

Assess your situation at midyear to make use of tax breaks for 2008 while there's time. Strive to avoid owing a big tax liability next April or receiving a large refund, as the latter represents an interest-free loan to Uncle Sam.

As a rule, defer income to next year and utilize deductions/credits this year. Adjust payroll-withholding rates if necessary. Fund tax-sheltered retirement accounts, plan gifts to charities and consider taking other types of deductions.

This article appeared in the July 6 issue of The Arizona Republic.

“You may not remember me,” the e-mail began, which was sad because I do, though I confess I hadn't thought of Slim Smith in awhile.

I never actually knew the guy, but he used to come to my house a couple of times a week. And then, suddenly, he didn't anymore. Maybe that's why his recent e-mail, responding to something I'd written, struck a chord.

“You may not remember me,” he began, “but I used to be the metro columnist at the Tribune. This was before I went to prison for DUI, of course. Anyway, that experience has taught me a lot, including a lesson or two on humility…”

I made arrangments to meet Smith at his home in Tempe, more a room than a home really but still, a decent place to begin again. I'm not sure what I expected to find -- self pity maybe, or anger or resignation. Instead, I met a man who has used the last year to profitable result, if not exactly the kind that you can eat.

Smith's a southerner who grew up reading stories and telling them, which is how he came to newspapering: first, in his native Mississippi and later in California and at the East Valley Tribune. For 25 years, he worked in
newspapers, the last two as a columnist, his dream job.

While he enjoyed telling other people's stories, however, his own was
something of a mess. A divorce in 2001 led to loneliness which in turn led t extended stints at the neighborhood bar. Two DUIs in a year should have been a signal. Instead, it became a way of life.

Feb. 19, 2006. Smith doesn't have to fish for the date. A few beers at a
bar led to a few more at another. “I left and the lights hit me and boy, my
life changed from that point on. Everything got changed inside out,
starting with that night.”

Smith spent everything he had fighting that DUI, his third, the one that
would send him to prison and cost him his job.

He did his time – four months -- and figured he could pick up the pieces. He worked for awhile for Mark Salem, who had given him a place to live and a job in his car-repair shop. But eventually, having no mechanical skills, he ran out of things to paint and did the honorable thing. He moved on, sure that something would turn up.

He worked as an $8.30-an-hour barrista at a coffee shop but lost the job
when he couldn't provide a doctor's note after an illness. This, because he couldn't afford the $112 to see a doctor.

Smith hasn't yet taken another $8-an-hour job. Instead, he's focused on
finding something that'll allow him to use his skills and rebuild his life.

And not having much luck.

It was a year ago last week that Smith got out of prison. So far he's had
one interview, a publishing firm that never called back. The F word – felony – is not exactly a career enhancer.

These days, Smith's reach extends about as far as his bicycle and his
determination will carry him, which I'm hoping will be a good distance. If
you'd like to follow his story, he's keeping a blog (slimstories.blogspot.com)

There are a lot of unemployed people in the country right now, good people just looking for a chance and finding none. Already this year, 438,000 jobs have disappeared. That's 73,000 every month.

It would be easy to give up, easy to become isolated in a city such as this, to question where you fit in when who we are is so tied to what we do. And yet Smith sees value in this last year, in coming to terms with his flaws and deepening his faith in God and maybe even in himself.

“In some respects I know I'm a better person for having been through it,” he told me. “I know what it's like not to have $100 to go to the doctor. I know what it's like not to have a job, not to have a career. I know what it's like to be judged…

“I think the most important thing to do is don't quit. The only way you
lose is if you quit. And to recognize that there are a lot of things outside your control and you can't let that consume you. I'm hopeful. I mean, look. I think my net worth is like $500. I don't have anything. My family and kids are far away. I'm alone. I don't have any real prospects and I think if you look at that you can get pretty depressed about it. But I don't. I'm hopeful. I think you have to be.”

(Column published July 9, 2008, The Arizona Republic)