Estate Planning
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Finances are a difficult subject to talk to family about in the best of times. Add death to the discussion and it’s no reason why virtually nobody talks about it until there is no choice.
Personal finance decisions are best made when things are calm. Once emotions become involved poor decisions are sure to follow. And nothing heightens emotions more than the death of a loved one. At their weakest moment they are required to make choices that can cost $10,000 or more. A lifetime of planning for retirement and financial independence can be strained due to an untimely death.
Planning ahead allows loved ones to focus on the grieving process. With decisions, and expenses, handled in advance, a funeral doesn’t have to break the
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As children we dream. We dream unfettered. We dream of traveling to the stars; we dream of life as a policeman, fireman or even a doctor. Some fall in love with numbers and can’t think of anything else. We dream of great discoveries as scientists or helping people reach their dreams and goals financially.
Then we grow up.
Society tells us we must prepare for retirement as soon as possible. The financial services industry breathes and dies by our willingness to buy into their story.
The news feeds are filled with stories of people who started early, saved hard and retired early. As someone living inside said community I notice a pattern. A large majority of people who
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Countdown clocks abound. The most infamous is the doomsday clock counting down to Armageddon. With 26 days to the tax due date here in the States tax professionals are counting down to a less tragic event.
Early retirement was something I dreamed of from high school on. I was attracted to the seasonal nature of the tax profession. The ease at which tax offices can be sold also held my interest. The original goal was to build the business, save like crazy, invest said monies and take an early bow. I decided I should at least enjoy my profession if I’m going to give it my all. The unintended consequence was that I couldn’t unplug as planned.
Read MoreReaching financial independence requires a consistent set of skills and persistence. The habits that allowed you to amass a sizable nest egg don’t die just because you pass some arbitrary border. Education, job, and family life consume all your time in the beginning. After college it is time to earn a living. After finding a…
Read MoreAt a recent Camp Mustache where I gave a presentation I also offered one-hour personalized consultations. Most of the advice I give is identical among all people I consult with. Most themes come up again and again. About 20% of what I advise is unique to the individual. This particular group was comprised of high…
Read MoreThere comes a time when your responsible spending and investing habits grow your net worth to a level you will never spend in a lifetime. As the years pass you discover charitable causes you want to help. Giving is something that brings meaning to our lives. By making a difference, our hard work and intelligent…
Read MoreOver the years I have used attorneys for a variety of needs. When I started a hedge fund the initial deposit was $25,000 and I was happy to pay it. We laugh at lawyer jokes and sometimes lawyers deserve the bad rap they get, but most of the time attorneys are a powerful part of…
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