Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.
Catch up on some of the latest posts with this week's roundup:
A Matter of Life and Death
How often do you think of your own death? Do you value your life more when you do?
The philosophy major in me loves questions like these — existential exercises that allow us to contemplate our own mortality. At one time, I considered studying questions like these for a living. Then I got frustrated that I could never find concrete answers.
Luckily, my current career mixes philosophical theory with pragmatism. I guide my clients through thought exercises that envision significant life changes and then help them take steps to protect against worst-case scenarios.
“What would a good day look like?”
That’s one of five questions that Atul Gawande thinks people facing a terminal illness should be asked in the early stages of their treatment.
In his research, Dr. Gawande, a renowned surgeon and best-selling author, has discovered that patients who have these conversations with their family and doctors experience lower levels of anxiety and increased peace of mind in their final days.
…who has a great track record of ruining a team’s chance of winning the financial planning game. His name is Death! Sometimes he targets the quarterback, but he’s equally effective in ruining the game by taking out another team member. That means your team needs to evaluate strategies for being prepared no matter who is targeted. Knowing the consequences and being prepared, whether it’s you, a spouse, a partner, a former spouse, a parent or worst case a child is important.
Most adults WANT to make sure that their families (children, partners and/or parents) will not be in both a financial crisis and an emotional crisis in case of their death. However, many people are NOT SURE WHAT to do to ensure it doesn’t happen. It’s also easy to overlook the consequences of the deaths of people we love because the thought is so horrific. It’s because it will be horrific that we owe those around us to be prepared.