Posts Tagged ‘finance’

The Road Less Traveled: Taking Steps Toward Your Ideal Retirement

Have you given a great deal of thought about your “bucket list” recently? For most people, a bucket list consists of things we have always wanted to do and many of those things involve taking risks or traveling far away from home or exploring some other type of great unknown. I read an article recently in Financial Advisor Magazine that discussed regrets that people had as they aged. The article said, “Among the top regrets were: not following their dreams, not taking risks with their careers, not taking risks with their lives in general, and not being gutsy enough in the choices they made.”

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Practice and Courage: Why Retirement Is like Learning to Dive

Do you remember when you learned how to dive? Do you remember how you felt when you saw others doing it and you wished, hoped for the day when you would have the courage and agility to take that plunge and know that you’d land gracefully in the water? Do you remember how ungraceful that first attempt was?

I have this vivid memory of learning to dive. We went to this pool every summer during childhood and there were older kids and adults who used to take turns practicing their dives. From my perspective, each of them was better than the last. They would walk slowly up to the edge, look down into the water, bounce once with two feet on the board, then with just one– shooting their knee straight up in the air, then one final time before they raised their arms high over their head, and traveled in a perfect arc, making the most peaceful splash as they landed– arms, then head then torso and lastly feet into the water. I so desperately wanted to be able to do as they did. My dad, was eager to teach when I asked him to show me the secret. But he explained that there was no secret at all. What was needed was precision, an understanding of gravity and physics and, most importantly, courage. He explained that courage was most important, not because it would improve your dive, but because it would empower you to keep going until you perfected it.

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Emotional Investing and Consequences of Behavioral Biases

Distraction from the media, uncertainty or volatility in the markets, or pressure to buy and sell from friends, colleagues, financial “gurus” and other less than reliable sources for investment advice can directly challenge an investor’s ability to make consistent, rational and logical investment decisions. The barrage of information coupled with some inherent behavioral biases can make long-term investing a challenge for most people.

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Want to Promote Family Entrepreneurship? Consider a Family Bank

With that in mind, the Super Rich are embracing ways to develop the business acumen of inheritor family
members—as well as ways to support them in forming new ventures of their own.
One way the Super Rich are making that happen is through family banks. And increasingly, families that
aren’t as wealthy as the Super Rich are using these banks as well.

With that in mind, the Super Rich are embracing ways to develop the business acumen of inheritor family
members—as well as ways to support them in forming new ventures of their own.

One way the Super Rich are making that happen is through family banks. And increasingly, families that
aren’t as wealthy as the Super Rich are using these banks as well.

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How to Stress Test Your Financial Plan Like the Super Rich

The Super Rich (those with a net worth of $500 million or more) who have family offices typically engage a sizable lineup of professional advisors to help them create and implement financial plans. To help ensure those plans are both state-of-the-art as well as in line with their needs and wants, many of them regularly “stress test” these plans.

Here’s why you should join them in that effort—even if you’re not nearly as wealthy.

Asking “What if?”

Stress testing financial plans can be a very smart way to help make certain that the plan will deliver as promised. The fact is financial plans that might look great on paper all too often prove to be much less impactful once they are implemented. It is not uncommon for there to be unintended consequences that can even derail one’s agenda.

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Three ‘Spy Secrets’ That Can Protect You, Your Family and Your Business

Imagine yourself in a vintage tuxedo, sipping a “shaken, not stirred” martini as you make eye contact across the bar with a beautiful secret agent who is about to covertly hand you a dossier with information that will help prevent World War III.

Okay—that’s almost certainly never going to happen to you. But you can use some of the same strategies employed by professional spies and operatives to prevent criminals from harming you, your family and your company.

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Understanding Retirement: Five Steps to Plan with Confidence

There was a time when people looked forward to retirement as a time for relaxation. But planning for the financial future is anything but relaxing for many people nearing retirement in the current economic climate. According to a 2016 PwC survey, just over half of Baby Boomers see their top financial concern as not being able to retire when they want to. That kind of uncertainty compounds the stress that many people often face with trying to save and invest enough money for retirement.

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Smart Ways to Build a Moat Around Your Wealth

Have you taken steps to protect the assets you have worked so hard to build?

Chances are, you know someone who has been sued. Maybe that someone is you.

The fact is, your enviable position as a successful person comes with a major downside: You’re a potential magnet for lawsuits—which may very well be frivolous and unfounded—and other attacks that can wreak havoc on your financial health.

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What Happens to Our Digital Assets After We Pass Away?

So, you’ve crafted a plan for how you want your wealth, possessions and other assets to be distributed after you die. But what happens to your digital assets—online bank and investment accounts, social media profiles like Facebook and LinkedIn, and access to shopping sites like Amazon and Ebay?

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Maintaining Marital Bliss Through Your Retirement Transition

Compromise is a key component in any happy marriage. It gets couples through the many roadblocks that life places in the path of a long-term, committed relationship. And while the ability to negotiate and reevaluate throughout the long haul goes a long way, even the strongest partnership can find itself buckling under the stress of retirement. The hopes and dreams of a what a life in retirement will look like can change over the course of a marriage. Couples who had previously expressed shared notions of what they want in their retirement may find themselves going in different directions when a life of work finally ends. Many couples who have had decades of marital bliss with little discord find themselves stressed and unhappy when retirement finally comes.

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