Tag Archives: estate plan

Jamaican Style Money Guide: When Cow Ded, Him Lef Trouble

Retirement & Estate Planning, , , , , , , ,

Traditional Jamaican proverbs can be very enlightening. They often express clever anecdotes or dire warnings about life, drawn from years of experience. If you examine many of these adages, you will find a kernel of wisdom that can help you to be smarter in your financial affairs.

While some of our proverbs give clear instructions on the importance of saving or spending wisely, the message in others may not be as obvious. “When cow ded, him lef trouble gi cow-skin,” is one of our lesser-known sayings that can provide a very important lesson about money success.

In standard English, the proverb states, “When the cow dies, it leaves trouble for the cow-skin,” which means that a dead cow’s decaying remains will produce a messy problem. Similarly, many people will pass from this earth and leave behind nothing but trouble for their survivors. Continue reading Jamaican Style Money Guide: When Cow Ded, Him Lef Trouble →

Preserving Your Life

Retirement & Estate Planning, Risk Protection, , , , , , , ,

Last week we discussed the significance of life, pointing out that the amount of income you create and the sum of your possessions are not the only determinants of your true value as a person. The positive impact that you make on the lives of others can be a key indicator of your real worth.

I believe that each person has unlimited potential to achieve great things and make a tremendous difference to the world. However, most people never really tap into their latent abilities and may never discover and accomplish everything that they were intended to do during their lifetime.

Whether you decide to experience your life to its fullest or you’re content to pass your time without fulfilling your life’s purpose, your existence on this earth has a value that needs to be protected. While your life is really priceless, it is possible to put a price tag on the contribution you make to other people. Continue reading Preserving Your Life →

Money Mayday

Risk Protection, , , , , , , ,

Historically, the first day of May was celebrated around the world with activities, including the crowning of the May Queen and dancing around a maypole. In modern times, the May Day festival has been merged with the Easter holidays, and it is no longer popular in most countries.

Apart from its association with ancient celebrations, the term ‘mayday’ has a less pleasant meaning. Mayday is used as a signal to indicate that a vessel such as a boat or aeroplane is facing a serious emergency. It was coined because it sounded like the French expression, ‘m’aider,’ which means ‘help me.’

When sudden disaster strikes

Two recent tragic events affecting air and sea travel made me reflect on the mayday distress signal. The mysterious disappearance of Malaysian Air Flight 370, with hundreds of passengers onboard, and the sinking of the South Korean ferry demonstrated how a routine journey can quickly turn into disaster.

Although we may not like to think about it, in the twinkling of an eye our lives can go into a negative tailspin from which it can be very difficult to recover. Just like those persons who embark on a voyage, we need to make adequate preparations to protect ourselves from the uncertainties that surround us. Continue reading Money Mayday →

What’s the State of your Estate?

Retirement & Estate Planning, Wealth, , , , , , , , ,

Many people are so focused on trying to make ends meet that they can find little time to think about the requirements of the future. “What’s the use of putting aside money for tomorrow if I can’t even pay my bills today?” they may say. Even further from consideration is making plans for what should be done with their money when they die.

Maintaining the money that you have worked hard for is a vital element of financial planning. You should not only concentrate on managing the funds you currently have or on earning more money; it’s also crucial to work on protecting your assets throughout your lifetime and beyond. Financially successful people always make preparations to preserve their wealth for future generations.

Since the beginning of the year, we have been discussing our 2012 Money Manifesto, which shows you how to create a comprehensive action plan to improve your finances. One of the manifesto’s pledges is that you should create an estate plan and leave a financial legacy of wealth for your beneficiaries to enjoy. Continue reading What’s the State of your Estate? →