Tag Archives: estate planning

Planning for Your Passing

Retirement & Estate Planning, , , , , , ,

When planning for their goals, many persons will often make decisions in an overly optimistic way, believing that all things will move smoothly to take them towards their desired results. Most people prefer not to think about the negative occurrences that could derail their dreams.

It’s good to visualise a bright future for yourself, where your positive attitude and persevering actions will help you to accomplish all your goals. However, it’s financially smart to prepare for any unwanted situations that are different from what you envision for your life.

Life has no guarantees
One of the unpleasant eventualities for which you need to make financial preparations is the possibility that you might not live long enough to actualise your dreams or enjoy the fruits of your hard labour. Death is certain, but none of us knows the exact date that it will visit our doors. Continue reading Planning for Your Passing →

Expect the Best, Prepare for the Worst

Risk Protection, , , , , , , ,

For many people, thinking about the subject of money brings on negative emotions ranging from mild confusion, constant frustration, sheer anxiety to full-blown panic. It’s unfortunate that such an essential part of our lives can sometimes cause us to experience so much mental pain.

Very often, persons will create their own money misery with their poor financial habits. Splurging in excess of their income, not planning for upcoming expenses, ignoring the need to save, and not making efforts to earn part-time income are some of the practices that can cause distress.

While careless spending and budget shortfalls are the usual suspects for money worries, sometimes a lack of organisation in your financial affairs can bring unwarranted concern. Uncertainty about the true state of your finances can lead you to be overly fearful about your financial future. Continue reading Expect the Best, Prepare for the Worst →

Money Manifesto for 2012

Goals, , , , , , , , , , ,

As many Jamaicans go to the polls today to select the party, people and policies of their choice, I thought that I would create a ‘Money Manifesto’ containing all the financially smart steps that can help you to shape a prosperous future for 2012 and beyond.

The 12 points shared below represent the essential areas that you should follow if you wish to become financially successful.

1. I will make financial education my priority.

I will invest in my own personal development by seeking to learn more about money. I will endeavour to read or listen to good financial advice every single day, as I recognise that most of the solutions to my money problems can be found in other people’s experiences in books and CDs. Continue reading Money Manifesto for 2012 →

More Money Lessons I Wish I Had Learnt In School

Kids & Money, , , , , , , , , , ,

In nine years of experience in providing personal financial advice, I have trained thousands of persons from all walks of life about the principles of money; I have coached highly paid doctors and lawyers and counselled lower-income workers.

There is one factor that unites the majority of persons who seek my assistance – they are facing financial distress because they are unaware of the basic steps that they should take to successfully manage, multiply and maintain their money.

I can recall the frustration of a professional who earns more money in one month than most Jamaicans will see in a year, as he painstakingly tried to organise his finances to get out of debt. “I can’t believe that I don’t know how to budget,” he sighed, “why didn’t they teach us about this money stuff when we were in school?” Continue reading More Money Lessons I Wish I Had Learnt In School →

Till Death Do Us Part

Retirement & Estate Planning, , , ,

“…to have and to hold from this day forward…to love and to cherish, till death do us part…” – excerpt from the Book of Common Prayer

This quotation is taken from the rites for the celebration and blessing of a marriage ceremony. Although the words herald the official union between a man and woman, in some ways they also speak to the relationship that we may have with our money.

For some people the acquisition of money is a passionate pursuit. Once it has been attained, their wealth is paraded like a beautiful trophy wife. Their possessions are held very close to their hearts, and this love affair lasts throughout their lives. Unfortunately this wedded bliss is only for a time, as in death they must part ways with their money.

The reality is whether we have lots of money or very little, whether we hoard money or pass it on charitably, death will come to take it away from us all. While we may physically leave this earth, our wealth usually remains behind, and it makes sense to make proper arrangements to distribute it when we are gone. Continue reading Till Death Do Us Part →