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The Story Behind "Sell Everything"
The media in general has a tendency to take an idea or story and run with it until the original context or point is lost in a wave of misinformation, taking a form of its own. At that point, the idea can become very dangerous to you as an individual working to build your own financial wealth and assets.
While we have covered the role of your behavior in contributing to your investment success in past articles, let us explore this idea that selling all of your investments as a tactic, in more depth.
The whole furor started in mid-January from...
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The Predicament of Sudden Wealth
Imagine one of the following scenarios. Suppose you have suddenly come into a significant sum of money. For the interest of this example, we will imagine that it is one million dollars. This might have come to you by way of a lottery win, an estate inherited after the death of a family member, or some other event that may have been either expected or unexpected. You now find yourself in an entirely unique financial situation from anything you have experienced before, whereas previously you were living paycheck to paycheck, you could now actually consider early retirement.
The problem, however, is that many individuals and families who suddenly come into money are entirely unequipped to effectively handle that money...
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Estate Planning Tips and Traps
Julia wants to make sure that her estate passes to her heirs with as little hassle and cost as possible when she dies. She knows she needs a will and decides to buy a do-it-yourself will kit. When she opened it, she soon discovered some serious shortcomings.
Advertised as a ’legal will kit,’ she learned that the term ’legal’ simply means that the kit does not break any laws. A disclaimer on the first page states that the publisher assumes no responsibility for the validity of a will prepared by the purchaser. Julia certainly wants her will to be valid, so she decided to have a lawyer prepare it.
Peter and Mary used joint bank accounts and...
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We can’t help everyone, but everyone can help someone.
Ronald Reagan
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Commissions, trailing commissions, management fees and expenses all
may be associated with mutual fund investments. Mutual funds are not
guaranteed, their values change frequently and past performance may
not be repeated. Please read the prospectus of the mutual
funds in which you invest. The information in this email
newsletter is general information only and is not intended to
constitute specific legal, accounting, financial or tax advice for
any individual. |
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Independent Financial Services
1001 - 3 Ave North - Saskatoon, SK S7K 2K5
Ph: (306) 244-7385
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