I’ve talked about the dangers of Do-It-Yourself (DIY) planning before… and I can’t say it enough. Doing anything yourself, unless you are trained and experienced, can be both dangerous and costly. Sound like an extreme statement? Think of something you would likely not consider fixing yourself. Here are my examples: My phone. My heart. … Ready for some real-life application of DIY dangers? Married couple Rudy and Susan were…
What percentage of wealth lasts at least 3 generations? Have a number? Keep that in mind and read on: A short list of worst decisions ever made: Mars Candy, maker of M&Ms, didn’t see the profit of showcasing their candy in the movie E.T. Meanwhile, Hershey jumped at the chance. Hershey’s Reese’s Pieces candy sales jumped – 65 percent – the month E.T was released. In 1962, Dick Rowe,…
There is a 40 to 50 percent chance that one half of your inheritance to one of your children or grandchildren could be lost! How? It’s one of the four wealth predators: Divorce. It’s not a fun topic, and we’re sorry to bring it up, but the data doesn’t lie: according to the American Psychology Association, about 40 to 50 percent of married couples in the United States divorce….
Don’t let this happen to you: In his autobiographical book American Sniper, former Navy SEAL Chris Kyle described a 2006 incident in which he punched out an unidentified man at a bar who was taunting him and saying that the Navy SEALS “deserve to lose a few.” The man was basically suggesting that a few more Navy SEALS should die. It turns out that the unidentified man was former…
In the United States, the tradition of taxing assets at death began with the Stamp Act of 1797. Congress repealed the Stamp Act in 1802. However, a pattern was set, and for the next hundred years or so, estate taxes were used as a way to finance wars. The Revenue Act of 1916 introduced the modern-day income tax and also contained an estate tax. Estate taxes were increased in…
What happens when you rub your hands together? Heat, right? Heat is created by friction. Helpful if want to warm up on a cold day. When it comes to engines and motors, friction actually “steals” energy. As friction increases, an engine’s performance falls, and is likely to wear out faster. So, how does this relate to you? Well, everyone has a wealth engine. It “powers” your lifestyle now, during…
When does your car operate at its peak performance? On the highway, at 55 miles per hour, right? It’s great when our cars are operating at peak performance. So, as we often do in our emails, let’s connect this with you. Think about this: is your wealth engine operating at “highway efficiency?” That’s right! Your wealth engine needs careful maintenance in order to power your future. While you are…
Ever heard of a stress test? A stress test helps doctors collect information about how your heart works while you are active. If the test shows some kind of irregularity, your doctor will develop a treatment plan consisting of medications, surgeries, exercise, diet, and additional testing. A stress test can be the difference between a healthy life and one filled with struggle and uncertainty and doubt. This doesn’t just…
According to Corporation for National and Community Service, approximately 77.34 million Americans volunteered for 6.9 billion hours in 2018. The economic value of these efforts comes to a whopping 167 billion dollars, not counting the compassion, comfort and positive change these volunteers bring to their communities. Millions more Americans are freely choosing to volunteer informally, supporting friends and family financially and doing favors for their neighbors, suggesting that the…
Imagine this happening to you… You wake up one morning to discover that you are dead. Well, not actually dead. Yet, your local newspaper reports your death and runs your obituary. You are reading your own obituary! Weird… Actually, this is not as rare as you may think! When his cousin died, a reporter thought it was the famed writer, Mark Twain! Mark Twain wrote, “The report of my…
Dan Hagler and Granite State Retirement Planning use The…
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