Seven Principle of Wealth - Number Seven

SEVENTH, be specific in your intentions/goals and prepare yourself to accomplish your financial goals. I know that intentions have infinite organizing power. You know the saying be careful what you ask for. I say KNOW what you want.

RECOMMENDED ACTIONS. Let me share what I do. I have very specific annual financial goals that I track on a monthly and daily basis. Therefore, I know before the end of the year whether I am on track to meet my financial goals. If I need to change my fees or prepare myself to add another area of practice, then I will do that to make the goals. If you have a job and you are not meeting your financials then now is the time to ask for a raise, take on more responsibilities, take a course/class to increase your marketability.

Even if you do not have all the answers, as long as your intentions are clear and you are prepared, opportunity will come knocking....open the door. Share your comments here or contact us at http://www.ythlaw.com/

Seven Principles of Wealth - Number One

Over the next seven days I thought I would share ways to increase one's wealth and thus provide a legacy for your heirs. All of the ideas can be implemented by anyone. However, most are rarely followed or followed inconsistently. But when implemented, wealth follows.

FIRST, for every dollar you make, keep ten cents for yourself. You have heard the saying pay yourself first. Take ten percent of your earnings and save it. If you are a business owner, also save 10% of your profits. This is money not to be squandered but as you will learn from the other principles, it is to be put to work for you.

ACTIONS RECOMMENDED, if your company has a savings plan, contribute at least 10% or the maximum you can. If your company matches your savings, you definitely want to contribute the maximum match amount. Simple, yes, but many are not taking advantage of this HUGE benefit.

For the next 6 months, live off of 90% of your earnings by making your own coffee; eating at home and taking your lunch to work; drive less by car pooling and combining trips; and, take a vacation at home, there is more to see than you know. If you can do it for 6 months, you can do it for 1 year and so on.

Let us know how you are doing by leaving your comments here or contacting us at http://www.ythlaw.com/

Family Reunion and Estate Planning

I just attended my family reunion. When I walked out onto the Park grounds where the festivities were held, I realized that I was linked to something larger than myself. A family reunion is a good time to think about your estate. It helps you to see how over the generations wealth has been accumulated and in some cases wealth has been wasted. As a family, you can sit down and look at what has worked over the generations and try to capitalized on that for the next generation. Watching the young children participate in the organized games and spontaneous activities reinforced for me the importance of estate planning.

Think about what those close to you mean to you. Planning for their future and the future of those yet unseen is one of the most rewarding activities you can engage in, today!! Let your family reunion serve to ignite the desire to plan for the future.

Leave your comment here or contact us at http://www.ythlaw.com/

Did you Know?

We may be living in economically depressed times but during the same time our technology advancement is amazingly far reaching. Just watch this short video and see how far our technolgy has and will continue to take us. It is the universality of the technology that provides us with the greatest benefits and allows us to share wisdom across cultures. It is all about communication and reaching as many people as possible with information that can be as informative as tranformational.

I blog regularly of my passion about being prepared through estate planning. I realize that wealth transfer is of international interest as I have traveled beyond our borders to share with and learn from others. When we are prepared by having a will or trust, we protect not only financial assets but also alleviate the unnecessary burdens that could be faced by our loved ones when we fail to plan.