| QUOTES from the
Masters... |
| On Listening |
On Leadership |
| "I
think the one lesson I have learned is that there is no substitute for
paying attention." -- Diane
Sawyer
"We
should quietly hear both sides." -- Johann
Wolfgang von Goethe
"The
human body has two ears and one mouth. To be good at persuading or
selling,
you must learn to use those natural devices in proportion. Listen twice
as much as you talk and you'll succeed in persuading others nearly
every
time." -– Tom Hopkins
|
"Leaders,
whether in the family, in business, in government, or in education,
must
not allow themselves to mistake intentions for accomplishments." -- Jim
Rohn
"Leadership
is not for wimps." – Doug
Firebaugh
"The
three "C's" of leadership are Consideration, Caring, and
Courtesy.
Be polite to everyone." -– Brian Tracy
"Real
leaders forever need bigger and more irresistible challenges." -–
Mark
Victor Hansen
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Did You
Know That...
Qualified
Retirement Plans Tend to Discriminate
AGAINST the
Highly Compensated?
The restrictions placed on
qualified retirement plans strictly limit the size of the benefits
that
can be accrued for highly-compensated employees. When
compared
to the benefits provided to lower-paid employees, these limitations can
produce a "reverse discrimination"
effect that results in qualified retirement plans replacing an
inadequate
percentage of an owner's or key employee's pre-retirement income.
Reverse
Discrimination in Action...
- The benefits
from or contributions
to each type of qualified retirement plan are limited or "capped."
- Eligible
compensation
that can be considered in applying these benefit or contribution
limitations
is capped at $245,000 in 2010 (as adjusted for inflation).
|
There is, however,
a solution to the inadequacy of
qualified
retirement plan benefits for owners and key employees...a selective
executive benefit plan can be used to counter the "reverse
discrimination"
effects of a qualified retirement plan!
|
|
| MESSAGES
from
the Masters... |
FINANCIAL
INDEPENDENCE by Tom Hopkins
Do
you worry about money? I'd bet that at least 90% of people worry
about money. It's a common occurrence. Today people
squabble
about money, mismanage money, families are divided, divorces occur, and
trouble runs amok. Some people believe having money is bad and
having
it only leads you to trouble. I disagree with that. Failure
to handle money properly may lead you to trouble, and money doesn't
really
make you happy, but it does give you the freedom and opportunity to
find
out what will make you happy.
Money
plays a powerful role in our lives today. It influences our
relationship
with our spouse, children and others we associate with. It
influences
our involvement in various activities. And it has an affect on
the
level of stress we experience as well as how we communicate with
others.
We need to get disciplined and learn how to handle this necessary
commodity
well in our lifetime. Controlling our finances is a simple
matter--it's
just hard to do! It takes a lot of discipline to sit down with
all
the paperwork and summarize it all in one place so you can see where
you
stand financially. However if you don't, years may go by and as
you
approach your golden years and start checking into your financial
situation,
you'll wonder where all your money went. Don't procrastinate on
this.
So
where does all the money go? A lot of people find themselves
asking
that question. It's not hard to answer it. We can find out
simply by keeping track of our personal cash outlay for one full
week.
What was our lunch expenditure each day? What product or services
are we committed to right now that we don't really need? Getting
your finances organized may take the assistance of a financial
advisor.
That's okay, but make sure to remain in control and understand the
advice
that is given. Don't waste your time, money and effort on
something
that sounds too good to be true--because if it does, it probably is!
How
does one define financial independence? My definition is: Living
comfortably off the annual income generated by your net worth at a
given
date in time. With this definition, the amount of your
financial
security is up to you. It's the understanding of that amount of
money
that is consistent with all of us. To achieve your chosen level
of
financial security you must first determine what amount of money you
would
be comfortable with on a monthly basis and multiply that by 12 for the
annual amount. Assume an average interest rate of 10% and
multiply
this by your annual amount. Once you have reached this figure,
you
need to have a plan for acquiring it.
Discipline
number one may sound rather trite, but it is true. The first
key
to building financial independence is that you must spend less than you
make. How many people really live within their means?
With
today's credit lines that are available, it is a small
percentage.
Available cash makes you financially prepared. Do this by setting
up emergency savings accounts. Learning to live on less than you
make prepares you for those rainy days that inevitably come along and
relieves
stress.
Discipline
number two I call, "Pay yourself first." To do this, I
suggest
you write a check to yourself every month first. Just like you
write
a check to the electric company and the phone company, I want you to
write
a check to yourself. |
We
don't want to add to your e-mail clutter! If you do not enjoy
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newsletter, just reply to this e-mail and ask to be removed or call my
office. Thanks!
The purpose
of this newsletter
is to provide information of general interest to our clients, potential
clients and other professionals. The information provided is
general
in nature and should not be considered complete information on any
product
or concept described. For more complete information, please
contact
my office at the phone number above.
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