It’s good to understand Europe’s debt crisis and why it’s affecting
U.S. markets. Here’s an overview of how the European Union
operates, why the euro is in danger, and what the crisis could mean
to American investors.
1) Netflix reported strong Q2 growth with domestic streaming revenue up 26% and international streaming revenue up 155% over the prior year. Their original shows also received 14 Emmy nominations.
2) Netflix membership and revenue grew steadily in Q2, slightly ahead of expectations. However, competition is also improving and risks of market saturation are growing in the US.
3) Netflix plans to continue growing its content spending significantly to further differentiate its service and drive membership growth, while aiming to expand contribution margin by 400 basis points per year.
The document provides 5 questions to ask yourself 5 years before retirement to help envision your retirement lifestyle and needs:
1. Where will you live and how will location impact costs of housing, taxes, proximity to family, and availability of work?
2. What activities will fill your time and how will those impact your budget as some are more expensive than others?
3. How will you want to live in terms of lifestyle - frugally or lavishly?
4. How long do you expect to live and plan finances accordingly rather than just average life expectancy?
5. What unexpected life events like health problems, family issues, economic downturns or disasters might impact your finances? Advanced
The document provides condensed consolidated financial statements for LinkedIn Corporation for the periods ending June 30, 2013 and December 31, 2012. It shows that LinkedIn's total assets increased from $1.382 billion in December 2012 to $1.688 billion in June 2013, with growth in cash/investments, property/equipment, and intangible assets. Total revenue increased from $228.2 million in Q2 2012 to $363.7 million in Q2 2013, with rising sales across all product lines and regions. Non-GAAP net income increased from $18.1 million to $44.5 million between the comparable periods.
The document discusses various technologies the student learned during the process of creating products for their media class, including WordPress, Photoshop, InDesign, SlideShare, Prezi, Photobucket, and Bubbl.us. For each technology, the student explains what it is used for, what skills they learned using it, and how their understanding of the technology improved through the project.
1. The document discusses seven key life events that most baby boomers will face as they move through the last third of their lives: their parents getting old and eventually dying, their own health issues and costs of staying healthy, reaching retirement age, managing multiple sources of income in retirement, and eventually dying.
2. It advises preparing for these events now by discussing health status, long-term care plans, powers of attorney, and estate planning with aging parents. It also discusses Social Security, Medicare, taxes in retirement, managing IRA and investment withdrawals.
3. The last event discussed is contemplating one's own mortality and doing legacy planning. The document encourages thinking about these major life transitions ahead of time
SlideShare, a platform for sharing presentations online, was acquired by LinkedIn. LinkedIn announced the purchase of SlideShare to expand its professional network and content offerings. The acquisition will allow LinkedIn members to easily access and share presentations within their network.
While it is generally a good idea to draw retirement funds from taxable accounts first, there are some exceptions. Whether pre-tax or tax-free accounts should be tapped first depends on factors like the client's tax situation, risk tolerance, investments, and income needs. For example, if a client has significant stock gains in a taxable account, it may make more sense to draw from retirement accounts instead to avoid capital gains taxes. Additionally, Roth IRAs should be drawn from last since required minimum distributions do not apply. Planning which accounts to use requires considering the client's full financial picture.
It’s good to understand Europe’s debt crisis and why it’s affecting
U.S. markets. Here’s an overview of how the European Union
operates, why the euro is in danger, and what the crisis could mean
to American investors.
1) Netflix reported strong Q2 growth with domestic streaming revenue up 26% and international streaming revenue up 155% over the prior year. Their original shows also received 14 Emmy nominations.
2) Netflix membership and revenue grew steadily in Q2, slightly ahead of expectations. However, competition is also improving and risks of market saturation are growing in the US.
3) Netflix plans to continue growing its content spending significantly to further differentiate its service and drive membership growth, while aiming to expand contribution margin by 400 basis points per year.
The document provides 5 questions to ask yourself 5 years before retirement to help envision your retirement lifestyle and needs:
1. Where will you live and how will location impact costs of housing, taxes, proximity to family, and availability of work?
2. What activities will fill your time and how will those impact your budget as some are more expensive than others?
3. How will you want to live in terms of lifestyle - frugally or lavishly?
4. How long do you expect to live and plan finances accordingly rather than just average life expectancy?
5. What unexpected life events like health problems, family issues, economic downturns or disasters might impact your finances? Advanced
The document provides condensed consolidated financial statements for LinkedIn Corporation for the periods ending June 30, 2013 and December 31, 2012. It shows that LinkedIn's total assets increased from $1.382 billion in December 2012 to $1.688 billion in June 2013, with growth in cash/investments, property/equipment, and intangible assets. Total revenue increased from $228.2 million in Q2 2012 to $363.7 million in Q2 2013, with rising sales across all product lines and regions. Non-GAAP net income increased from $18.1 million to $44.5 million between the comparable periods.
The document discusses various technologies the student learned during the process of creating products for their media class, including WordPress, Photoshop, InDesign, SlideShare, Prezi, Photobucket, and Bubbl.us. For each technology, the student explains what it is used for, what skills they learned using it, and how their understanding of the technology improved through the project.
1. The document discusses seven key life events that most baby boomers will face as they move through the last third of their lives: their parents getting old and eventually dying, their own health issues and costs of staying healthy, reaching retirement age, managing multiple sources of income in retirement, and eventually dying.
2. It advises preparing for these events now by discussing health status, long-term care plans, powers of attorney, and estate planning with aging parents. It also discusses Social Security, Medicare, taxes in retirement, managing IRA and investment withdrawals.
3. The last event discussed is contemplating one's own mortality and doing legacy planning. The document encourages thinking about these major life transitions ahead of time
SlideShare, a platform for sharing presentations online, was acquired by LinkedIn. LinkedIn announced the purchase of SlideShare to expand its professional network and content offerings. The acquisition will allow LinkedIn members to easily access and share presentations within their network.
While it is generally a good idea to draw retirement funds from taxable accounts first, there are some exceptions. Whether pre-tax or tax-free accounts should be tapped first depends on factors like the client's tax situation, risk tolerance, investments, and income needs. For example, if a client has significant stock gains in a taxable account, it may make more sense to draw from retirement accounts instead to avoid capital gains taxes. Additionally, Roth IRAs should be drawn from last since required minimum distributions do not apply. Planning which accounts to use requires considering the client's full financial picture.
Working just a few more years can significantly reduce the amount baby boomers need saved for retirement. Delaying retirement by 1-4 years allows workers to save more, receive higher social security benefits, pay off debt, and have a shorter retirement to fund. Analysis shows a couple needing $510,000 saved if retiring at 62 could need $465,000 if retiring at 63 or as little as $117,700 if retiring at 70. Working longer provides substantial benefits for funding retirement.
The document discusses the results of a study on the impact of climate change on wheat production. Researchers found that higher temperatures and changing precipitation patterns due to climate change will significantly reduce wheat yields across major wheat-producing regions by the end of the century. Reductions in wheat production are projected to range from 6-27% depending on future greenhouse gas emissions and efforts to adapt farming techniques to new climate conditions.
This document summarizes the target audience for a magazine as young Christians between ages 16-21. While the magazine would appeal to both males and females, it may attract more female readers due to stories focusing on inspiration. The target socioeconomic group is classified as middle class (B and C1) based on the UK's National Readership Survey grades. Readers would likely enjoy Christian music and events promoted in the magazine.
The student learned several important lessons when progressing from creating a school magazine to a music magazine. They learned to design the magazine to better attract their target audience, with an emphasis on improving the masthead, images, layout, model presentation, cover story, and contents page. Specifically, they made the masthead, model, and layout more attention-grabbing for the music magazine audience.
Este documento presenta un balance general con las cuentas de activo, pasivo y patrimonio. El activo incluye cuentas como caja, bancos, mercadería, clientes, documentos por cobrar e inmovilizado. El pasivo contiene proveedores, cuentas por pagar, documentos por pagar, créditos a corto y largo plazo. El patrimonio está compuesto por el capital social.
This document discusses holistic caregiving planning for aging parents. It recommends assembling all available resources to help parents and minimize costs, which can deplete adult children's finances and retirement savings. Living arrangements like staying home, moving in with children, or assisted living should consider costs and quality of life. Regardless of arrangements, some care like housekeeping, transportation, and bill paying will be needed, which adult children or outside help could provide. Planning ahead allows families to integrate financial and life plans for mutual benefit. Professional advice can help evaluate resources and responsibilities.
This document discusses holistic caregiving planning for aging parents. It recommends assembling available resources to help parents and minimize costs to adult children. Living arrangements like staying at home, moving in with children, or assisted living should consider costs and quality of life. Regardless of arrangements, some care like housekeeping, transportation, and bill paying will be needed, which adult children or outside help could provide. Planning ahead allows families to integrate financial and life plans for mutual benefit by evaluating resources and responsibilities.
The post-election political landscape leaves President Obama working with a Democratic Senate and Republican House for at least two more years. With little time left, they must address expiring tax provisions, automatic spending cuts, and reaching the debt ceiling. Expiring tax cuts and provisions at the end of 2012 could significantly raise income tax rates and reduce many tax breaks unless extended. Automatic spending cuts are set to begin in 2013 to reduce the deficit, but they apply broadly across all programs. The debt ceiling will likely be reached before the end of the year as well, requiring Congress to allow more government borrowing.
The Medicare open enrollment period begins on October 15 and runs through December 7, allowing people with Medicare to switch plans for the upcoming year. During this period, individuals can change prescription drug plans, switch between Medicare plans, and join or drop Medicare drug coverage. People should review their current coverage and consider factors like costs, services covered, and anticipated healthcare needs to determine if another plan would better suit their situation for the coming year.
The document summarizes the new estate tax rules under the 2010 Tax Act and how they may impact estate planning. Key points include:
- The estate tax exemption has increased to $5.12 million per person and is portable between spouses. This allows married couples to transfer up to $10.24 million tax-free.
- Existing estate plans using credit shelter trusts may no longer achieve their objectives due to the higher exemption amount. Plans will need to be reviewed.
- The higher exemption provides an opportunity for significant gift giving in 2012 to reduce the overall estate and take advantage of gift tax exclusion.
The Dow Jones Industrial Average hit a level less than 4% below its pre-2008 high, while the S&P 500 was roughly 6.5% away from achieving the same target. Encouraging manufacturing and employment data helped boost stock market indexes. The unemployment rate fell to 7.8% in September, its lowest level since January 2009, and manufacturing showed growth after three months of decline over the summer. However, factory orders declined 5.2% in August due to a drop in transportation equipment orders.
This document discusses the key differences between retirement accumulation and distribution strategies and the adjustments clients and advisors need to make when transitioning from accumulation to distribution. Some of the main points made include:
- Fundamental concepts like dollar cost averaging and compounding work differently in a distribution strategy compared to an accumulation strategy.
- The sequence of investment returns and volatility become more important in distribution since clients rely on steady withdrawals.
- Careful planning is needed to determine the best strategies for generating retirement income from a portfolio and transitioning assets over time in a tax-efficient manner.
- Close monitoring of withdrawal rates and account values is necessary to ensure the nest egg lasts throughout retirement.
This document provides a checklist to help determine if an aging loved one needs assisted living. It lists signs to watch for regarding medications, food/groceries, daily activities, social contact, driving abilities, and calls to family/providers. Catching the need for assistance earlier rather than later can help defray emotional and financial costs. Up to 12 million older adults may need assisted living by 2030. Nursing home care costs average $74,825 annually currently and are estimated to rise to $200,000 within 30 years. Resources for caregivers are also listed.
Discovering Delhi - India's Cultural Capital.pptxcosmo-soil
Delhi, the heartbeat of India, offers a rich blend of history, culture, and modernity. From iconic landmarks like the Red Fort to bustling commercial hubs and vibrant culinary scenes, Delhi's real estate landscape is dynamic and diverse. Discover the essence of India's capital, where tradition meets innovation.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
Working just a few more years can significantly reduce the amount baby boomers need saved for retirement. Delaying retirement by 1-4 years allows workers to save more, receive higher social security benefits, pay off debt, and have a shorter retirement to fund. Analysis shows a couple needing $510,000 saved if retiring at 62 could need $465,000 if retiring at 63 or as little as $117,700 if retiring at 70. Working longer provides substantial benefits for funding retirement.
The document discusses the results of a study on the impact of climate change on wheat production. Researchers found that higher temperatures and changing precipitation patterns due to climate change will significantly reduce wheat yields across major wheat-producing regions by the end of the century. Reductions in wheat production are projected to range from 6-27% depending on future greenhouse gas emissions and efforts to adapt farming techniques to new climate conditions.
This document summarizes the target audience for a magazine as young Christians between ages 16-21. While the magazine would appeal to both males and females, it may attract more female readers due to stories focusing on inspiration. The target socioeconomic group is classified as middle class (B and C1) based on the UK's National Readership Survey grades. Readers would likely enjoy Christian music and events promoted in the magazine.
The student learned several important lessons when progressing from creating a school magazine to a music magazine. They learned to design the magazine to better attract their target audience, with an emphasis on improving the masthead, images, layout, model presentation, cover story, and contents page. Specifically, they made the masthead, model, and layout more attention-grabbing for the music magazine audience.
Este documento presenta un balance general con las cuentas de activo, pasivo y patrimonio. El activo incluye cuentas como caja, bancos, mercadería, clientes, documentos por cobrar e inmovilizado. El pasivo contiene proveedores, cuentas por pagar, documentos por pagar, créditos a corto y largo plazo. El patrimonio está compuesto por el capital social.
This document discusses holistic caregiving planning for aging parents. It recommends assembling all available resources to help parents and minimize costs, which can deplete adult children's finances and retirement savings. Living arrangements like staying home, moving in with children, or assisted living should consider costs and quality of life. Regardless of arrangements, some care like housekeeping, transportation, and bill paying will be needed, which adult children or outside help could provide. Planning ahead allows families to integrate financial and life plans for mutual benefit. Professional advice can help evaluate resources and responsibilities.
This document discusses holistic caregiving planning for aging parents. It recommends assembling available resources to help parents and minimize costs to adult children. Living arrangements like staying at home, moving in with children, or assisted living should consider costs and quality of life. Regardless of arrangements, some care like housekeeping, transportation, and bill paying will be needed, which adult children or outside help could provide. Planning ahead allows families to integrate financial and life plans for mutual benefit by evaluating resources and responsibilities.
The post-election political landscape leaves President Obama working with a Democratic Senate and Republican House for at least two more years. With little time left, they must address expiring tax provisions, automatic spending cuts, and reaching the debt ceiling. Expiring tax cuts and provisions at the end of 2012 could significantly raise income tax rates and reduce many tax breaks unless extended. Automatic spending cuts are set to begin in 2013 to reduce the deficit, but they apply broadly across all programs. The debt ceiling will likely be reached before the end of the year as well, requiring Congress to allow more government borrowing.
The Medicare open enrollment period begins on October 15 and runs through December 7, allowing people with Medicare to switch plans for the upcoming year. During this period, individuals can change prescription drug plans, switch between Medicare plans, and join or drop Medicare drug coverage. People should review their current coverage and consider factors like costs, services covered, and anticipated healthcare needs to determine if another plan would better suit their situation for the coming year.
The document summarizes the new estate tax rules under the 2010 Tax Act and how they may impact estate planning. Key points include:
- The estate tax exemption has increased to $5.12 million per person and is portable between spouses. This allows married couples to transfer up to $10.24 million tax-free.
- Existing estate plans using credit shelter trusts may no longer achieve their objectives due to the higher exemption amount. Plans will need to be reviewed.
- The higher exemption provides an opportunity for significant gift giving in 2012 to reduce the overall estate and take advantage of gift tax exclusion.
The Dow Jones Industrial Average hit a level less than 4% below its pre-2008 high, while the S&P 500 was roughly 6.5% away from achieving the same target. Encouraging manufacturing and employment data helped boost stock market indexes. The unemployment rate fell to 7.8% in September, its lowest level since January 2009, and manufacturing showed growth after three months of decline over the summer. However, factory orders declined 5.2% in August due to a drop in transportation equipment orders.
This document discusses the key differences between retirement accumulation and distribution strategies and the adjustments clients and advisors need to make when transitioning from accumulation to distribution. Some of the main points made include:
- Fundamental concepts like dollar cost averaging and compounding work differently in a distribution strategy compared to an accumulation strategy.
- The sequence of investment returns and volatility become more important in distribution since clients rely on steady withdrawals.
- Careful planning is needed to determine the best strategies for generating retirement income from a portfolio and transitioning assets over time in a tax-efficient manner.
- Close monitoring of withdrawal rates and account values is necessary to ensure the nest egg lasts throughout retirement.
This document provides a checklist to help determine if an aging loved one needs assisted living. It lists signs to watch for regarding medications, food/groceries, daily activities, social contact, driving abilities, and calls to family/providers. Catching the need for assistance earlier rather than later can help defray emotional and financial costs. Up to 12 million older adults may need assisted living by 2030. Nursing home care costs average $74,825 annually currently and are estimated to rise to $200,000 within 30 years. Resources for caregivers are also listed.
Discovering Delhi - India's Cultural Capital.pptxcosmo-soil
Delhi, the heartbeat of India, offers a rich blend of history, culture, and modernity. From iconic landmarks like the Red Fort to bustling commercial hubs and vibrant culinary scenes, Delhi's real estate landscape is dynamic and diverse. Discover the essence of India's capital, where tradition meets innovation.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Navigating Your Financial Future: Comprehensive Planning with Mike Baumannmikebaumannfinancial
Learn how financial planner Mike Baumann helps individuals and families articulate their financial aspirations and develop tailored plans. This presentation delves into budgeting, investment strategies, retirement planning, tax optimization, and the importance of ongoing plan adjustments.
Explore the world of investments with an in-depth comparison of the stock market and real estate. Understand their fundamentals, risks, returns, and diversification strategies to make informed financial decisions that align with your goals.
1. ADVISOR/CLIENT EDUCATION BRIEF
6 Wealth & Success Lessons From
The Ultimate Gift
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Discover what it means to be wealthy or successful. If you’re like most, it takes
a few hard knocks to understand what life truly has to offer.
S everal years ago at the Berkshire Hathaway annual
shareholders meeting in Omaha, Neb., a preco -
cious 10-year-old investor stood bravely in front of
a microphone and posed a weighty question for the
investment maestro: “How do you define success in life?”
Russell A. Smith, CLU, ChFC, CFP.
President & CEO
Torimax Financial Group, Inc.
800-786-3720
had prepared him for the answer. The world’s second-
richest man replied in a matter-of-fact tone: “Success rsmith@torimax.com
is when you reach the end of your life and you find that
the people who should love you actually do love you.”
If you’re not so sure that the people who should love
you actually do, then consider the life lessons of a
wonderfully uplifting book and movie: The Ultimate
Gift , by the humanitarian Jim Stovall, who is blind. The
Ultimate Gift is a morality tale about the hazards and
benefits of wealth—and the important values that one
generation hopes to impart to those that follow.
Stovall’s message is a powerful one; it may encourage
you to reflect on your personal ethics, or change how
you think about wealth and success. Lived experience,
Stovall impresses upon us, is the most valuable asset we
can hope to collect.
The wealth illusion
The story centers on fictional billionaire Red Stevens, a
larger-than-life Texas oil and cattle tycoon who discov -
ers at the end of his life that he has given his family all
the material wealth anyone could want but has spoiled
them in the process. In the opening scene, we sit in on
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2. Red has passed away, and his patrician heirs eager - duce something of lasting value to some -
ly anticipate the massive fortunes to be doled out. one else?
But for one of Red’s descendants, grand-nephew
Jason Stevens, the inheritance comes with signifi - The gift of money . Red knew that Jason had
cant strings attached: he must complete a series of always had money, but he was sure that he never
12 monthly assignments dictated through video - appreciated its true value. So he challenged him
tape by his late great-uncle. to find five people over the course of a month
for whom even a small amount of money could
Jason, a self-centered 24-year-old, resents that he
won’t receive his inheritance right away. He thinks a pittance by his standards, and asked to distrib -
his great-uncle is playing a game with him and ute it in small amounts. Jason wound up helping
tries to convince the estate attorney, Ted Hamilton, people who needed $300 to pay their rent or
to reveal what he stands to inherit if he submits $500 to repair their only means of transporta -
to the tests. Hamilton, however, adheres to Uncle tion. Along the way he met some surprising
Red’s instruction that Jason must follow each step new friends and recognized that his perception
sequentially before learning the nature of his in - of money’s true value had been skewed by his
heritance. wealth.
Month by month, Jason’s life is transformed. Each Personal reflection: In my rush to achieve
higher levels of success, do I sometimes
that Red felt Jason must learn before he could truly fail to appreciate how fortunate I am to be
appreciate his inheritance. in the top 5% or 10% of income earners in
the world? Do I ever contemplate what life
Life’s true gifts is like for the other 90% of the population?
The Ultimate Gift brims with useful and thought- The gift of problems. In one of the more touch -
provoking insights. Consider a few of Uncle Red’s ing assignments, Red asks Jason to find people
most important gifts to his young protégé. How who were coping with truly devastating prob -
might they be applicable in your own life? lems, and to recognize the value of facing these
problems head-on. As Red put it: “One of the
The gift of work. In the first assignment, Red great errors in my life was sheltering so many
required that Jason perform manual labor on a people—including you—from life’s problems. I
Texas ranch for a month, as he himself had done actually took away your ability to handle life’s
for years before he founded his oil and cattle problems by removing them from your environ -
empire. The lesson comes as harsh punishment ment.” Jason met individuals dealing bravely
for Jason, who takes his trust-fund lifestyle for with terminal illness, or handling the loss of a
granted. Eventually, over the course of 30 days job with dignity. He realized that problems and
working alongside one of Red’s oldest friends, challenges often give life its meaning.
Jason begins to realize the true satisfaction that
comes from digging fence posts and setting Personal reflection: When I face large ob -
barbed wire. He comes to appreciate the power stacles—financial setbacks, for instance—
of a job well done. do I view them as a curse or a blessing,
as defeat or an opportunity to rise to the
Personal reflection: How often do I stop occasion? What would I be missing if my
to consider the gift of performing an hon - life had no significant challenges?
est day’s labor? How frequently do I wake
up with a burning desire to accomplish The gift of dreams . Red believed firmly in the
something useful that day? Do I feel I pro - power of dreams. Like Walt Disney and other
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3. famously successful entrepreneurs, he knew that As he experienced firsthand the value of hard-
the key to success lies in our ability to work pas - won lived experiences, Jason came to love his
sionately toward the powerful visions we create great-uncle in a deeper, more meaningful way.
in our minds. Over 30 days, Jason, who had never
considered what he wanted to accomplish in life, Personal reflection: Do I agree with Red,
began to think about his ultimate ambitions. For
the first time, he began to sense clarity of pur - successful life is measured in the lives that
pose, something that would drive him each day. we’ve touched and the love we’ve experi -
enced?
Personal reflection: Do I have a compel -
ling sense of mission that spurs me on each Whether or not Jason completed all 12 assign -
day? Do I see my dreams so clearly that I ments, and what, if anything, he inherited from
can’t imagine not spending my entire life wise old Uncle Red, you’ll have to find out for your -
working toward these visions? self. You can read the book or check out the movie.
The questions that emerge are instructive food for
The gift of gratitude. Having lived through the thought at any age; a simple reminder to oneself of
Depression, Red learned a lot about gratitude the inherent value in integrity, empathy and gener-
early in life. Traveling the railways looking for -
odd jobs as a teenager, he met a homeless man ing to greater clarity of thought, better emotional
who taught him about “the golden list.” Each balance and a more successful life overall.
day this man would lie in bed—or wherever he
was forced to sleep—and visualize a golden table
on which he wrote 10 things in his life he was
especially thankful for. He followed this routine
daily and remained in good spirits regardless of
whether he was wet, cold, or hungry. Red im -
mediately adopted “the golden list” routine and
began reciting his own top 10 blessings to start
each day. Red’s assignment asked Jason to do the
same. To his shock, the young heir discovered
this: “There are so many things that each of us
have to be grateful for, it is hard to limit it to only
ten.”
Personal reflection: How might my attitude
things I’m grateful for? Would I begin to ap -
preciate and not take for granted the simple
things in life such as health, friendships, and
family?
The gift of love.Ultimately, each of Red’s
posthumous assignments was rooted in a deep
love for his grand nephew. Red saw in Jason a
glimpse of greatness that could be shaped by
love and work—something Jason only began to
appreciate near the end of his year-long odyssey.
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