The August 2008 Money Magazine offered up an article of several successful individuals talking about the smartest financial advice they have ever received. Billionaire and CEO of Virgin records, Richard Branson shared a story about his lack of knowledge in the financial realm and being humble about what you don’t know. Have you ever noticed…
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If I never use it, I don’t get anything back. Yes, that is absolutely true of basic long-term care insurance. I say basic because hybrid plans exist that co-mingles LTC insurance with life insurance or annuities—but that’s a different subject for a different day. Today I would like to share a story with you: Several…
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May you live in interesting times… Did you know this expression is actually the translation of a Chinese curse? Everyone desires peace and though “interesting times” can be anything, they are not usually peaceful. There is no doubt that we live in interesting times: Ukrainian war Artificial intelligent chatbots Political chaos Financial uncertainty Chaotic weather…
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A question we are often asked is, “What should we be doing before we retire?” One of the most important things to do is to start practicing retirement now. Too many people enter retirement unprepared. Don’t let that be you. Here are the top five must reads to help you start practicing your retirement: Power…
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Most business owners have a similar story…They started out scraping and saving just to pay taxes, working with their accountant every year to get the tax they owed Uncle Sam down to the bare minimum. As time moved on, they restructured to an ‘entity’, bought equipment, changed their accounting a time or two, and maybe…
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Money is tight for many families today. Just a couple of years ago, most Americans felt pretty good. We had higher than ever real wages, the government was pumping money into the economy, and prices were cheap. Today these are mere memories: Families are being squeezed by both inflation and the government pulling money out…
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That was a rhetorical question, but for good reason: to get your attention. Only 15% of US households contributed to a traditional or Roth IRA in tax year 2021. 1. This means even less than that contributed to a Roth IRA since this percentage accounts for both types of contributions. You may be aware that…
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It doesn’t matter whether you own a Mom-and-Pop shop, a family farm or ranch, a Fortune 500 company or anything in between…When you have a family business, you often need a reality check to keep your business what it it—a business. I obviously work with family members every day. I often catch myself using a…
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These words of wisdom are just that—words of wisdom. Did you know they can also be words of catastrophe! If we’re talking about money, diversification is very good thing. It doesn’t solve everything, but it certainly hedges a lot of risk. So…these words of wisdom more than often apply. As your wealth and success grow…the…
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Have you ever been through the process of probating an estate? If so, you probably have a story or two you could share about it. If you haven’t, you may want to say a prayer that you won’t have to. We have always said that Texas is a friendly place to die. While this is…
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