What's Worth your Time?

When you're right you're right.  My dad always said you can tell what a guy really cares about by how he spends his time.  No doubt ... that is one true statement!  We all spend our time doing the things that are most important to us.  There are some things we have to do and profess not to enjoy (like going to work) but even those activities show people what is important to us.

The guy that goes to a job everyday for 35 years that he hates and takes all the overtime he can probably isn't a sadistic maniac.  He probably wants to provide for his family and give his children a better life and more opportunities than he had.

However, finding time to spend with your loved ones is one of the most important parts of your day.  It shows them that you think they are important, because you are spending the one thing you can earn more of ... time.

I'm lucky to have lived long enough to meet my first grandson.  I love spending time with him, and in his eyes that is the only thing that matters.  It really doesn't matter what we are doing either, he's happy to watch TV with me, walk around the house or sometimes we stand under the ceiling fan, and I hold him up so he can practice pulling the chain that turns it on and off.

Sure it's nice when people change his diaper, bath him, or feed him but in the end he knows that people care for him because the spend their time with him.  The rest of us recognize that new clothes, toys and health insurance are important but his life is pretty simple and is distilled down to time.

Take some time to spend with your favorite people this week ... and show them what they mean to you.

Too Busy? Not Really!

Sometimes when I think about years ago, I imagine that I was less busy and that I had more time.  Maybe you think that too from time to time, but it's not true.  We chose to do different things today than we did when we were younger, and sometimes we have more responsibility than we did early in life, but all in all we still get 24 hours each day to spend as we see fit.  My brothers and I are good examples here ... we all seem to be too busy with work and life to visit each other very often but we all somehow manage to squeeze out a movie and dinner out every now and again.

 

Even as I'm writing this I look back and it's been a month or more since my last post, and I'm thinking I just didn't have time to write it.  But that's a lie, I did have time, I just chose to ignore some activities in favor of other ones.  The time we have doesn't change, we just change what we do with it.

Now, don't get me wrong we are all busy, but it is the important stuff that we should pursue and ignore the things that don't mean much to us.  I enjoy fishing, but I rarely get out to fish and I'm always saying I'll go when I have time, but if the truth be told, I could just go fishing and fill in the rest of my life around that time. 

 

So take a moment this week (and every week) and decide what is important, then do that and the rest of your life will still be there when you're done.

 

J

 

Protect what is really important with life insurance, call me for a quick quote!

Spending my kid's Inheritance? Heck yeah!

I was riding to Bloomington with my youngest daughter last week when we got behind this truck.  Since Katie was driving I had a chance to really look around and I noticed the words on the back and thought "now there's a guy that's going somewhere!"

 

I hope someday to spend my kids inheritance on a really great truck or a hot tub but my wife insists that we will be spending lots on our kids for years to come, and now I have a grandchild on the way which my wife has decided to spend a chunk of our income on ... I may have to just put a kiddie pool in the back of my old pickup and run a hose from the exhaust to the kiddie pool to make the bubbles.  I'm still working on that idea!

 

But seriously, I had a conversation with a woman in her 70's this week and she has $25,000 in an account that she has set aside for her grand kids.  "It's not much, but maybe they'll get some use out of it."  Well with 3 grand kids that means they'll each get $8,333.  That's pretty great, but it's my job to let her know that they'll be taxed on that amount and if the estate owes anyone when she dies the debts will be settled first and they'll only get their eight grand if it's left after the debts are satisfied. 

One of the best things about my job is being able to help people solve problems like this ... I mean this lady has saved twenty five grand to leave behind and at the very least Uncle Sam is going to take 20% ... not cool!  So I showed her how to take that $25,000 and put it in a single premium life policy which gives her heirs $44,000 at her death and all life insurance proceeds are tax free to the beneficiary.  Oh, and one more GREAT thing about life insurance.  It doesn't matter how long the estate is in probate or tied up in courts and such, life insurance is paid directly to the beneficiary within days of a death certificate being issued.

 

So maybe I can get my truck and hot tub without having to duct tape a hose to my exhaust.  Good luck hiding your money from the kids, I'll talk to you soon.

J

Ask me about life insurance ... I can help!

Happy Hallowen!

Halloween isn't my favorite holiday but we usually have fun with the neighborhood during the night.  We get 300 plus kids at our house for trick or treats and while we know many of them we get a lot that are total strangers.

The funniest ones are the teenagers that are too old to be trick or treating and don't even have a costume on, they walk around with a sack looking to get candy from the neighborhood houses.  The funny thing is that they don't even look like they are enjoying it.  The uncostumed "too old to be doing this" teens look like they just lost their best friend.  Of course I know they didn't just lose their best friend because they are standing right there next to them.

Our favorites are the young kids that we know, they show up with super hero costumes on or princess costumes or funny ones with a mask.  Best of all is when you say "oh my who is this?"  and the kids pulls up their mask and with a sly grin says, " it's just  me!"  How cool is that?  More than the pursuit of candy, the youngest kids are really wanting everyone to see that behind the mask, it's just them.  Perhaps those sad teens have forgotten that the candy is not nearly as sweet as your neighbors knowing that you and your parents have turned ordinary you into a believable super hero, princess, ghoul or other creature.

Every year my family and I carve pumpkins and as my kids got older they started liking it less and less, but I like just as much now as I did when I was really young.  Maybe I didn't like it when I was a teenager, I don't recall, but right now I really enjoy it because it gives me a chance to show my neighbors that I and my family have turned an ordinary pumpkin into a really cool super hero.

Happy Halloween.

J

Call me for an insurance quote!

One sad Day!

You know this business is great!  Everyday I get to help people protect themselves from disaster.  Insurance is there to stop a loss from being total.  Everyone wants maximum coverage for the minimum premium but, in general we all know that insurance is a necessary part of life that will someday help us out.  However, one type of policy is more important than any other. 

Here's a quick story about a man named William Pettry, who flew to Jacksonville Florida Friday, October 5th to watch his favorite team play, the Bears.  That Sunday at a local bar in Jacksonville William was murdered in an unthinkable way.  He was stabbed to death right in the middle of the bar.  Now they caught the guy right away and have a confession but that won't help Mrs. Pettry.

You see William leaves behind a wife and three young children and no income.  Mrs. Pettry will struggle to pay the funeral costs but that is just he beginning because William's contractor business will not continue to make money without him there and they had no life insurance on William.  Mrs. Pettry is a stay at home mom that takes care of 3 young kids, so now she has to leave her kids, get a job, and pay child care to make ends meet, because he husband's income will no longer be there.  Not only will he not be there to see his kids grow up, take them to the doctor, play baseball with them, hug his wife when she has had a bad day, fix the toilet, and all the other things he did but his current and future income is all gone!

If William had just spent a couple of dollars a day on a term life policy, his family would not have to worry where next week's mortgage payment was coming from.  Don't put your family in this position!  Life insurance is cheap!  It's important! and you need to get some!  Call an agent that you trust and buy a policy today! 

J

Ask me for a quote!

Chores ... just do them!

I remember as a kid that there were things I just didn't want to do, at some point I didn't want to brush my teeth everyday.  I don't remember why, but I think it was just that I had assigned the task a negative label in my mind.  When I was first in the Army I didn't want to run, anything I could do to get out of running I tried. 

Maybe these things were all just unpleasant chores that had to be done and my human nature kicked in and pushed me to avoid them.  I think everyone is like that in a way, but as we get older we we know better than to give in to the voice that says "don't do it ... life will be easier if you don't".  Of course, some folks never out grow the little voice.  They still avoid things they need to do or address and give childish excuses as to why they can't or won't do the right thing.

Don't do that!  Stand up, do what you know is right, and keep doing it everyday.  Even when it's not fun or a chore ... really folks, grow up!  In the end we all have to do what we know is right or we are just wrong, so don't be wrong!

J

Don't put off buying life insurance, if you wait until you need some, it'll be too late!

Hello ... my name is Bob!

You know this blog really started out as an educational platform for the everyday person to better understand insurance and though I share experiences and thoughts on many subjects it remains the Beginner's Guide to Insurance.  So I thought we'd spend a minute talking about life insurance. 

I just want to put a thought in your head ... what happens if you die?  I know, I know, you've got a ton of life insurance and your loved ones won't ever have to worry or work again, right?

But I'm talking about real stuff, like who do they call?  How long will they have to wait for their benefits?  What should they do with the money?  Should they pay off bills?  Should they put it in the bank?  Buy a new TV ... come on!  Have you talked about this stuff?  or better yet have you written it down? 

Start out by writing down all the life insurance you have through work, on your credit cards, and that you personally own ... put the contact numbers for the agent next to each.  If the contact number is some 800 number that goes to India where a faceless "Bob" will butcher your family name and make you repeat everything twice then perhaps you should consider calling a local agent that you know.  Because a local agent will care that you've just lost someone and they will be easily accessible if you have questions.  They will work with you to figure out what the best use of the money is.  Once you've got that together write down a plan ... what bills to pay and what ones to wait on, what to save and what to spend.

Just a few minutes of discussion and some hand written notes put together in a folder in the lock box will be a comforting reminder that you and your lost love one had a plan even if the worst thing happened.  Who knows may karate lesson will be in the plan.

J

Lets talk about you life insurance program!

"Spring Break" Here we come!!!

I suppose that I've been on a short vacation from my blog this past month, and since I don't get paid for it ... I think that is okay!  In fact taking a break is so important to a productive and happy life that it is documented in the Bible.  Right?  God rested on the 7th day ... though I imagine he went to Dave and Busters to play Foosball with Gabriel.  Taking a break not only gives us a chance to recharge it helps us be more productive at work and in our lives.

A research company in Japan discovered that while America is number one in productivity among industrialized nations, France is a close second.  But Americans on average get 10.2 days of vacation while the French enjoy about 27.5 average days of vacation.  The French work about 35 hours a week while most Americans work over 40 hours a week.

One study reported in 2009 by NPR showed that men who took vacations lived longer than men who did not take regular vacations.  Another study conducted by researchers at Marshfield Clinic, Marshfield, Wisconsin, showed that women who took two or more vacations a year were much more satisfied with their marriages.

So now you have proof!  Work hard, but take a couple of vacations throughout the year, you'll be healthier, happier and wiser (and perhaps it will even make you wealthier).

J

Be protected while you travel ... Click Here I'll make it simple for you.

Why can't we all just get along?

Getting along doesn't come easy for human beings.  We like to be right, and more importantly we like to be the one that points out someone else being wrong.  Then we like to discuss "How wrong" they are and ask "Why do they continue being wrong?" ... Do you know anyone that will condemn something until others join them in the condemnation, then they switch to deffending the thing they were just condemning? 

Many years ago as a young man living in Germany, my wife Tena and I were playing a game called Balderdash.  It has cards with words that sound odd and you are supposed to either know the correct definition or come up with one that sounds like the real one, so everyone else will think it is real and vote for your definition.

While playing that game I learned the word "Schadenfreude"  \ˈshä-dən-ˌfrȯi-də\ which means ... taking pleasure in other's misfortune.  It's a good word because it describes a basic human trait.  It's a trait that is uglier than we normally would want to portray but one that is naturally there.  

We often find that we look for an angle to dispute what someone is saying or we like seeing them in situations that are uncomfortable.  While I know this to be true, I don't know why we are wired this way and I find it hard to resist even though it is a despicable trait.  I mean come on ... we love watching the sitcom where everyone gets into crazy situations.  We love to listen to a politition give a speech and then poke holes in what he or she says.

So this week I'm going to try really hard to be the model of kindness, I'm going to avoid disputes and the guilty pleasure of Schadenfreude.  I might fail but I'll start the week trying to get along! 

How big of a tax bill are you leaving for the kids & grandchildren?

Do you think about this?  I do ... what will Uncle Sam take from my children's inheritance?  How much of my legacy will be lost to taxes?  Do you really want your heirs to lose the money that you have set aside for them?  No, of course not but have you spent a couple of hours to plan a strategy for helping them keep more of what you leave behind?

Here are two quick ideas to help you plan for giving ALL of your legacy to your heirs.  These are just a starting point, you need to speak to your insurance professional to personalize them and see if they will work for you.

First, if you have a lump sum of money that you want to leave to your grandchildren or you kids, lets say you have $10,000 in the bank that you got from the sale of your Great Aunt's home when she passed away.  You figure that you will hold on to it in case you need it but once you are gone you want the Grand kids (let's say you have two) to get enough to buy a car or put down on a small home.  $5,000 is not a bad amount ... and you are not risking it in the stock market so you leave it in the bank and put in your will that they get it when you are gone.  But when you pass away they will have to what for the probate process to be completed.  Then if there are no other liens on the estate they will at least be charged income tax (about 25%) and Indiana inheritance tax (5%).  This means they will both get about $3,500 after those taxes are satisfied. 

Okay let's change one part of this example, let's say that you buy a single premium life insurance policy with the $10,000, this will buy your heirs about $19,444 (assuming you don't use tobacco are age 65, female and in pretty good health) in death benefit when you pass away.  Which means that each grandchild will get $9,722 with no income tax or Indiana inheritance tax and they will get their money right away regardless of thee probate process or any additional liens on the estate.  So your two grand kids will get over 2 & 1/2 times the money.

Now, the second example is if you have 100 acres that you are leaving to your 3 children.  Let's say the fair market value of that 100 acres is $7,500 an acre ... you see where I'm going with this right?  You add the value of the land the value of the home the other assets and soon your children have a pretty big tax bill. 

If you spend a few hours with your insurance professional you will know what that tax figure will look like and you can take out a life insurance policy that will give your children the funds they need to pay the tax bill without having to sell off pieces of the family farm at a time when they are morning the loss of a parent.

Every one's situation is different but by planning ahead you can leave even more  for your heirs and really reduce the tax burden that they will face in the wake of your passing.  One note though ... the earlier in life that you start the process the less it will cost you, both of these options require you to be insurable and under the age of 80.

Here are some online calculators to help you figure out what you will need to pass on all you have worked so hard to get.

http://www.infarmbureau.com/website/general/resourcesTools.aspx

J