Way too often I hear families tell me that there were things they wished their deceased family members had told them before they die. Here are six things you need to think about and talk with your loved ones before your day comes.
If this was 1965 I might be writing a post about how to take advantage of the pension plan you have at work. For the most part, a traditional pension plan is a thing of the past. Today, you have to depend on what you save in your individual retirement accounts as well as thinking about the choices you have with social security.
If you’ve followed this blog for any period of time you’ve heard me rant about it’s not the investments so much as the amount you save. Knowing how much you need to save is something you need to think about. Another decision you’re going to have to make is when to start collecting social security.
You have more choices than you think.
My sister has a saying, “I’m not on that committee.” In my opinion, that’s something you should never say when you’re talking about your family.
For me, the truth is I’ll be on that committee with my kids for my entire life. You see, I’ve lived a lot longer than they have and there is a certain amount of wisdom that I think I can pass on to them.
I bet you’re in the exact same position as I am.
You can help mistakes from happening.
Those who know me understand the past seven years have not been easy from a health perspective. In 2008 I was diagnosed with a very nasty and dangerous from of cancer.
I went through a significant amount of chemotherapy, a stem cell transplant and targeted therapies. During all of my treatment the management of my health care fell to my wife Suzanne and I. Luckily we had done good research and received good advice along the way.
Here are some of the things I learned over the past seven years that might help you if you find yourself in a similar place:
You must be your own advocate.
When it comes to wealth management we often focus on financial wealth. It’s rare that we take a step back and think about all of the things that we should be grateful for.
Here’s my list. I’m hoping that you take a minute and email me here with your list.
In the book Thinking Slow and Thinking Fast Daniel Kahneman talks about two parts of our brain. One makes very fast decisions and works on an emotional level. The other works much more slowly and is the part that takes facts and figures into account when it comes to decisions making.
I know, you’ve already gone to school and you feel that you’ve had enough. If that’s what you think, then you’re limiting what you can do with the largest asset you have.
Today's podcast features Randy Fox the editor-in-chief of the Planned Giving Center. Randy has been involved in philanthropic activities for over 20 years. He's known as one of the thoughtleaders in the philanthropic world.