Year: 2009

The primary purpose of life insurance is to replace income should a bread-winner die prematurely. Most families accept this responsibility as a necessary expense, as they do other forms of insurance such as auto or homeowners insurance. What you might not realize is that most life insurance policies are surrendered long before the policyholder dies. Think about it […]

Love him or not you have to admit Michael Jackson ‘had the moves’. He is the undisputed King of Pop and his dance moves are the stuff of legend. For all his bazaar personal behavior, it turns out Jackson also had the right moves when it came to his estate plan. Here are the key elements and what […]

College costs up 50%! “What?”…you say. Ok, I used this headline as a cheap trick to grab your attention. But in many cases, it’s ‘almost’ true. First, college tuition has risen approximately 6%; then subtract 40% or more for the stock market decline and your costs of paying for college have risen almost 50% if you had a substantial […]

Last week I began a discussion of the three keys to success for any business as related to me by one of Alabama’s most successful entrepreneurs. His first key to success is, “Stay close to your numbers”, meaning that it’s imperative that you watch your money very closely. The ‘tools of the trade’ include a Balance Sheet, […]

  As plastic surgery marketing, 10% and job prospects for those seeking employment remain stilted, more and more people are considering pursuit of the dream of owning their own business so they can control their own financial destiny. Many great success stories were born out of adverse situations. For example, Julie Trade of Scottsdale, Arizona was […]

Today is officially the first day of summer…a time when children celebrate a break from the classroom. While they think of play, it’s a good time for adults to reflect on where we’ve been and what’s ahead as far as the economy is concerned. The recession that became apparent in 2008 ushered in the worst bear market […]

The first half of 2009 will soon be over so now is a good time to take a moment to reassess your financial situation and make certain you are on track for your short and long-term financial goals. Here’s a checklist of items for you to consider:   Debt. Review your debt reduction strategy. If you don’t have […]

The failure of General Motors, once the largest employer in the world, can provide valuable lessons to us all. Ultimately, the demise of GM boiled down to a loss of focus which spiraled into massive inefficiencies. All of us have a tendency to lose focus and become inefficient in our everyday lives if we don’t develop and […]

For years leading up to the near collapse of our banking system, bank and Wall Street executives lined their personal pockets, through incentive compensation, with ill-gotten gains from securities transactions that they did not understand. What they did understand was how much money was being made for themselves and their banks so they continued to party […]

While everybody is bemoaning this terrible economy, it has created some outstanding opportunities. One excellent opportunity is in the area of intra-family loans. Federal law requires that loans of more than $10,000 between family members must carry a minimum interest rate known as the ‘applicable federal rate’ (AFR). This rate is re-set and published each month (Google ‘Applicable […]