Archive for the ‘Financial’ Category

How to organize your finances by Parade Magazine

21 September 2006

Get Your Finances Organized

Published: September 17, 2006

You carry your basic financial information in your head—like the name of your bank, the location of your checkbook, where to find last year’s tax return. (OK, it might take a while to put your hands on that return, but you know where to look.) But does anyone else know what you know? No? Then create a one-page crib sheet. It’s the smartest, easiest way to prepare for the unexpected. If anything happens to you, it will be vital to your survivors. And if you’re ever forced to flee a natural disaster, it will help you reconstruct your financial records.

What You Should List
Contact information. Write down the names and phone numbers of family members, your closest friend, your doctor, any professional advisers (lawyer, tax accountant, broker, insurance agent) and the person who handles employee benefits where you work.

Financial accounts. List your accounts and the institutions where they’re located. For example: “Checking and savings accounts, First Citizens Bank, 124 Main Street.”

No need to list account numbers if you put down your Social Security number; that should be enough to identify your accounts.

Where to find your important personal documents. These should include:

• Current bank, mutual fund and brokerage account statements

• Employee benefits information

• Life insurance policies

• Marriage license

• Prenuptial agreements

• Birth certificates and adoption papers

• The original copy of your will (the only copy that’s signed and witnessed). A photocopy won’t do. If your original will can’t be found, the law assumes that you destroyed it because you had changed your mind about what it said. Your heirs must convince a court that that didn’t happen. If they don’t succeed, your assets are distributed according to state law, as if no will existed.

• The forms naming your retirement account beneficiaries. It’s these forms—not your will!—that determine who gets your retirement accounts. If you don’t have your own copies, ask your account custodians for new beneficiary designation forms. “Fill out two copies,” advises Ed Slott, a tax accountant and IRA expert in Rockville Centre, N.Y. “Mail them back to the custodian with a cover letter asking the company to return an acknowledged copy for your files.”

Where You Should Keep It
Make three copies of your crib sheet. Keep one for yourself. (Tell your spouse where it is!) Give one, in a sealed envelope, to your sibling, adult child, best friend or lawyer. Mail the third to someone you trust who lives in another town—preferably one unlikely to experience the same natural disasters.

As for the documents on your one-page list, relocate them to a fireproof file cabinet, with active drawers (for current bank statements, for example) and inactive drawers (for long-term papers, like insurance policies and passports).

If you have documents stored in a bank safe deposit box in your name alone, ask the bank how your survivors could gain access to it. (Getting authorization can be time-consuming.) Better to keep documents like your will at your lawyer’s office or in a locked file cabinet at home, where they will be immediately available to your family.


23 April 2006

I came across this link it is all of Mr. Buffett's letters to shareholders.

I am reading all types of business stuff lately.  I just finished Robert Hagstrom's Warren Buffet Way this week and I am reading Phil Town's typepad blog archive.  Interesting stuff.  Mr. Town seems to have been taught by Mr. Hagstrom; maybe he is the 'Wolf'.  Anyway, if Mr. Buffett took the torch from Mr. Graham, maybe Mr. Town is offering to take the torch from Mr. Buffett in a way.  They all seem to run together.  It is amazing that Mr. Hagstrom's book was written in 1993 just before the hayday of day trading.  Didnt anyone read his book?  It all makes too much sense.  I guess Mr. Hagstrom's quote, or was he quoting Mr. Buffett about Index Investors being smart but a little knowledge and you could be a business investor and do even better was overlooked.

Anyway.  It is a very interesting universe of finance theorists.

Google Phil Town or go hear him at a Get Motivated seminar near you, interesting stuff.  Or just check out rule #1 investing's new website.

Phil Town Rule #1

2 April 2006

This book came today! It was released on the 21st and I have been very excited waiting for it.

I have just finished 3 other finance books and I am partway through The Warren Buffett Way. (Graham was the original Rule #1 theorist that Mr. Buffett then popularized).

I picked up used copies of some Kiyosaki stuff today and Graham’s Intelligent Investor classic.

Recommendations for a classic book on option trading?

I figure with all the traveling I will have plane time to read and with all the kids I will have lots of bills, college and retirement to plan.

Off to Camp Lejeune this week with WB Way and Rule #1.

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Great gift for kids!

19 March 2006

Money Savvy Generation | Money Savvy Pig

Rule # 1 Phil Town

7 March 2006

Do you want to have more money?  Be smarter about investing?

A good place to start is Mr. Town’s blog.

He even has a book coming out this month.

You can see him in person the next time the Get Motivated! seminar comes to your area.

Phil Town Rule #1