Missed Fortune Super Blog

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Missed Fortune – Sometimes a Little Pain Is a Good Thing

Posted on | February 10, 2014

The Path of Least Resistance Goes Nowhere

Businesses and individuals should view the first quarter of the year as a period of opportunity. This is the perfect time to plan for the successes of the coming year. We do this by setting projections, establishing goals, and implementing the appropriate strategies.

If we wish to reach a higher level of success than we did the previous year, we must get an early start.

Whether we are a high level executive, or a front line employee, now is the time to plan in order to improve our bottom line.trans Missed Fortune   Sometimes a Little Pain Is a Good Thing Sometimes that improvement will involve a bit of pain. But not all pain is bad. Read more

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

Missed Fortune – Creating Predictability Not Randomness

Posted on | February 3, 2014

Randomness Is Not Your Friend

Would you rather have a life of predictability or a life of randomness?

Let’s try a simple math exercise. Pick any number between one and ten. Now take that number and double it. Next add eight to that number. Now divide that number in half.

What number do you have now? Next, you’ll need to subtract the original number you began with from this latest number. You should now have a final number in your head. Read more

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

Missed Fortune – The Best Things Are Beyond The Comfort Zone

Posted on | January 27, 2014

The Type of PAIN We Should Avoid

The first quarter of a year is a crucial time for many businesses and individuals. It’s a time for setting projections, establishing goals, and implementing strategies for the coming year.

This is particularly true when it comes to reaching a higher level of success that will exceed that of the previous year.

From the high level executive circles to front line employees, chances are that this is the time when everybody gets charged up in making changes to improve their bottom line. Read more

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

Missed Fortune – Why Flexibility Is Essential To Success

Posted on | January 20, 2014

Being Stubborn is Costly

In the New Testament Gospel of Matthew we find a series of simple but beautiful lessons known as the Beatitudes. Part of their beauty and simplicity is the fact that our own spiritual maturity determines just how deeply we comprehend them.

To those profound lessons, let’s add one more Beatitude:Blessed are the flexible for they shall not be bent out of shape.

This is an easy lesson to recognize because, at some point, most of us have experienced the need for flexibility either in our selves or in others. Sometimes we’ll see it in a management meeting where we’re trying to address a particular problem our company faces and the manager overseeing that area of responsibility doesn’t wish to hear it.

In spite of any evidence that the current approach isn’t getting results, the manager stubbornly disregards the ideas others have recommended on how to solve the problem. He prefers to keep on doing things exactly how they’ve always been done.

There comes a time where the damage is so apparent that the manager finally acquiesces and agrees to implement the ideas others have been sharing. Sometimes it turns out to be too little too late.

Inflexibility is a guaranteed way to eventually get bent out of shape either in business or in life.

With more than 4 decades experience as a financial strategist and retirement planning specialist, Doug has consistently coaches his clients to maintain flexibility in their plans. Stubbornly clinging to just one particular way of doing things means risking not being able to adapt and adjust as necessary.

That lack of flexibility can make us miss our goals.

Correct Course When Necessary

To illustrate the importance of flexibility, let’s pretend you’re preparing to take a flight around the world. The end goal is to return to airport from which you departed.

If you started your journey just a single degree off course, how would that affect your return?

Failure to correct that one degree course deviation will take you more than 500 miles off course at the conclusion of your journey. A little flexibility is required to enable us to make minor course corrections as necessary.

Now let’s apply this lesson to how we plan financially for the future.

It is expected that life will throw unexpected curve-balls our way. They will come no matter how well we’ve planned. But with a bit of flexibility, we can correct our course and get back on track rather than simply being bent out of shape.

In financial terms, this means that in order to remain flexible, we have to maintain liquidity.

This requires being able to access our cash when we need to make changes,  to put money aside, or simply take our money out without having to face penalties.

The folks who understand this better than most are those people who have lost money when their home’s value has dropped. The problem isn’t because they were leveraged, it’s that their investment wasn’t liquid. Having liquidity gives us the necessary flexibility to make those necessary adjustments.

We also lose essential flexibility through investments that lack liquidity.  It’s important that our investments are structured such that if our home were to lose value, our equity would still remain safe. It’s also a good reason to rethink keeping our retirement money in a 401(k) or an IRA.

Remember, if you touch the money in your IRA or 401(k) before age 59 ½, you’ll pay a substantial penalty. That lack of flexibility comes with a steep price tag.

Our goal should be to have liquid assets safely earning a predictable rate of return. We call this the LASER test and any investment that meets each of these qualities is likely to be one worth going after.

Tax-advantaged or tax-free savings plans are where we find the kind of flexibility, liquidity, safety, and predictable rates of return that won’t leave us bent out of shape.

If you’re ready to learn how to put this knowledge to work for your future, visit with a wealth architect today.

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

Missed Fortune – Creating a Never-ending Win Streak

Posted on | January 13, 2014

Celebrate Your 3 Daily Wins

One of the most useful apps available today for mobile devices is called Win Streak. An incredible entrepreneurial coach by the name of Dan Sullivan was the designer.

The beauty of the app is that every day, at the end of the day, you can pull out your mobile device and write down 3 wins you’ve experienced throughout the day. The idea is to seize the 3 moments in which you had a victory.

Why should we celebrate our wins?

Because it’s too easy to become so caught up in the daily grind that we become trapped in our circumstances. We feel isolated and lost with little control over the direction of our lives. We start feeling like losers.

We forget that the difference between feeling like a loser and feeling like a winner is found right between our ears.

Think about it. If you were to create an app for your life’s game, would you want it to be a game in which you were always losing? Or would you rather be part of a game in which you always came out on top?

Instead of focusing on what we didn’t accomplish, it’s much more powerful to acknowledge the things in which we triumphed.

This means that we must stop treating happiness as a destination and recognize that it is a journey that is measured by our progress rather than our perfection.

It’s okay to measure backwards and celebrate where we’ve been and to be happy with where we’re going. It’s a waste of time to worry over what we would have, could have, or should have done. Our forward momentum is maintained by celebrating what we did.

Not All Wins Look Alike

Part of learning how to create a never-ending win streak involves learning to see the silver lining when things don’t go exactly as we’d hoped or planned.

For instance, if your wife were to call you and interrupt your busy day with the news that your son had fallen and had to go get stitches, you have a choice to make. You could be stressed out and upset about the meeting you have to cancel or the work that isn’t getting done. Or you could celebrate the fact that you were there when your child needed your loving support.

By focusing on the positive, you can continue to progress in spite of the curve-balls that will almost certainly come your way.

This is a habit you can teach your children as well. At the dinner table or at bedtime, ask them to tell you about three positive things that happened to them that day. Pretty soon they’ll develop the habit of looking for positive things.

It’s so easy to buy into the negative things; all it takes is one person complaining about the negative to get us focusing on the wrong things. On the other hand, we all know people who tend to brighten the room when they enter it because they have learned to notice and accentuate the positive.

Once we’ve written down and celebrated our three wins for the day, we can then write down three positive things that we hope to achieve tomorrow.

This is a very powerful habit to acquire. Not only will it help us overcome the tendency to feel like a loser, but also it will empower us to create the never-ending win streak that will become a life of happiness.

Now imagine applying this never-ending win streak to your money. How do you get on a win streak to not lose?

If you understand strategies like indexing, you don’t lose when the economy or the market goes down.  When taxes go up, you still don’t lose. When inflation happens, it helps you instead of hindering you. It’s a permanent win streak with your money.

When you think and behave like a winner with your foundational assets, your intellectual assets, and your financial assets, your future will be that of a winner.

To learn how to get started on your never-ending win streak, visit with a wealth architect today.

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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