durham, north carolina

It is three days past his thirty-eighth birthday, and Thomas Pinchett is balancing a ledger. A cup of tea sits near his right hand, cooling. From the third drawer to the left of his desk, he removes a manila folder. He takes from the folder a yellowing grid paper and a small stack of pay statements.

An envelope containing his biweekly paycheck sits on his desk; he slits this along the top with a bronze letter-opener and carefully unfolds the statement. He examines the amount listed at the bottom. His salary, reduced by exactly the amount required by federal and state tax withholding law and adjusted for his annual 1.6% raise. He adds a twenty-third point to the grid paper and uses a ruler to draw a line from the twenty-second.

In his ledger under Assets, he has written an estimation of his holdings in various markets and the market value of an apartment in Virginia that he owns jointly with his father. To this, he adds a prediction of future salary, adjusted for inflation and anticipated changes in tax exemptions.

Under Liabilities, the entries are more numerous. He glances at entries Co-pay, future operations and Child Support. He taps the end of his pencil against the desk thoughtfully but makes no corrections.