Category Archives: family

How $1,000 Invested at Birth Could Change Everything

 

KidSave’ accounts may be part of a long-term solution to the retirement income problem.

In the presidential debates, we’ve heard more about Donald Trump’s anatomy than what may be the most pressing financial issue directly in front of millions of boomers: Where will they find monthly retirement income that is guaranteed for life?

The retirement industry can talk about almost nothing else, which in hindsight seems a predictable turn. Did we really believe Americans would manage their 401(k) plans well enough to stash away 25 years of post-career financial security? We haven’t come close, and in this sense the 401(k) has been a colossal failure. Now the first wave of pensionless retirees is about to land, and politicians have almostnothing to say on the subject.

One reason is that there are no quick fixes, which is why it may be time to dust off a long-term solution first floated in the 1990s and still championed by one of its architects, Bob Kerrey, the former democratic senator from Nebraska. He would like every child born in the U.S. to receive $1,000 in a “KidSave” account that would compound over 65 years before being tapped. “For most people it’s not income that matters,” says Kerry, now with investment firm Allen & Co. “It’s wealth accumulation.”

In other words, retirement security is less about what you earn and more about how much and how soon you save. Compound growth over seven decades can do a lot of heavy lifting.

Kerrey reiterated his support for what he calls “wealth accounts” last week during a discussion on the financial impact of longevity, hosted by Bank of America Merrill Lynch at the Museum of American Finance in New York. These wealth accounts would be funded at every child’s birth through a government loan, to be repaid when the child enters the workforce some 25 years later.

The initial $1,000 by itself wouldn’t make a huge difference: at 6% a year over 65 years it would produce just $44,145 in tax-deferred savings. But the existence of a wealth account from birth would encourage more saving, Kerrey believes. These accounts would be strictly off limits for 65 years and in his estimation could be enough to guarantee adequate income that will never run out later in life. If parents or grandparents, say, kicked in $20 a month for 20 years the nest egg would swell to more than $240,000 at the child’s retirement.

KidSave accounts enjoyed bipartisan support years ago but stalled amid efforts to boost other types of savings accounts and shore up Social Security. As previously envisioned, the initial deposit might be $2,000, indexed annually for inflation. That alone might produce $250,000 at age 65, Heritage Foundation found in its assessment of the program nearly two decades ago. Another version of the program called for $1,000 at birth and five annual payments of $500, which could generate a nest egg of nearly $140,000.

Why dust off KidSave accounts now? They are a relatively painless way to address a retirement income shortfall in the, yes, distant future. But as the youngest boomers and then Gen Xers retire with virtually no guaranteed income other than Social Security, the shortfall will only grow. Everything is on the table now as policymakers try to fix the retirement income issue via things like expanded Social Security, guaranteed retirement accounts, 401(k) annuities, better home reverse mortgages, and breaking down legal barriers to working longer.

Kerrey noted that without change every American now under age 40 will receive a 25% cut in Social Security benefits at retirement. We need interim steps. But we also need a long-term plan. The candidates have touched on ways to fix Social Security and cut ballooning student debt.

How to Create More Mind-Blowing Moments and Memories

A great article…..

How to Create More Mind-Blowing Moments and Memories

Ask your parents or older loved ones questions……now!

I lost my parents both in 2009.

I wish I had asked them so many things before they died. Simple things like what they were doing when JFK was shot. What they thought about the Civil Rights Movement. What was their first Pirate game like? Steeler game?

Also deeper questions like; advice for facing challenges in life, in business, in relationships. How did they keep going when finances were hard? Did they have a mentor? What did the mentor do or say that helped? Helpful books they read?

Certainly I wanted to hear more about their childhood, life, and family. They told me many stories but I didn’t always listen like I should have…..I would ask them more about my grandparents and relatives…..

I suggest that YOU take time, in the next 30 days, and ask your parents, grandparents, or older loved ones in your life – ask them about life! Do it now!

I didn’t know my parents would die that soon, certainly not within 5 weeks of one another. I also know of other families that ‘lose’ loved ones to Alzheimer’s and other mental challenges where the body is here but the memories are gone.

I hope your loved ones live long and healthy lives.

But I Challenge you to ask them some questions now.

—-

Credit: Brendon Burchard created his own list and that list inspired this list. This list below was created by Mark Evans. Want to give credit to Brendan for the inspiration.

TIP: I recommend that you hire a professional videographer to help you create a high-quality video that will be cherished and watched over and over. If too expensive, maybe get a friend that won’t be as emotional.

You can record this in any of the following ways:

  • Be there in person (I would love to do this but I’d start crying on the first questions. Truthfully not everyone is like this of course.)
  • If you’re far away from this person, call in on a speaker phone and ask the questions while they are being interviewed.
  • Or, have the videographer ask the questions and when they finish recording the answers, they can edit you asking the questions. (This is what I did)

Also, you should always have the person you’re interviewing re ask the question. Example:

YOU: “Where were you born and where did you grow up?”
THEM: “Where was I born and where did I grow up? [and then the answer]

Questions
1. State your name.
2. Tell me the date and year you were born.
3. Where were you born and where did you grow up?
4. Describe what your life was like growing up.
5. Tell me about your parents.
6.What do you remember most about your mother?
7. What do you remember most about your father?
8. How did your parents meet?
9. If they had a message to share with their grandchildren, what would it be?
10. What are your fondest memories of your childhood?
11. What are your fondest memories of your teenage years?
12. Tell me about how you met your spouse. (Where did you meet? How did you meet? How did you know they were the one you wanted to marry?)
13. How would you describe your spouse?
14. Tell me about your career. (How did you choose that career? What made you successful at it?)
15. Tell me about some of the best times in your life.
16. Tell me about some of the most difficult times in your life.
17. What helped you get through the difficult times?
18. What events in your life do you think most shaped your life?
19. How did having children change your life?
20. Tell me about what life was like when you had each child. (Repeat this question for every child the person had.)
21. How would you describe the life you lived?
22. What do you want to be remembered for?
23. What are your fondest memories in life, overall?
24. What are you most proud of in life?
25. If you could go back and do it all over again, what would you do differently?
26. If you could make any change to the world, what would it be?
27. What message would you like to share with your family?
28. What things do you want me to pursue in the future on your behalf to keep your legacy living?

Frey Freyday (Re-tooled): Parents

(Frey Freyday is simply a bunch of inspirational, motivational and other quotes meant to make you think, reflect, smile, even laugh a bit. Hopefully helpful, useful stuff….)

UPDATE: I took time over the holidays to reflect and retool. Hopefully Freydays were missed and hopefully you now welcome the return:

Frey Freyday was actually born out of something I created called “Words To Live By” (WTLB). Going forward, I will now not only share the quotes, as you may be used to receiving, but also a related (WTLB). In 1999, when we had our first daughter, I was contemplating how I would raise my new beautiful child, and I was thinking about how I can best educate her and my other children about values, morals, and other key thoughts about life. School offers education. Religion offers some values and morals. Parents offer most of it, sometimes intentionally, sometimes accidentally.

So I created a (WTLB) book, like a dictionary, which lists things like honesty, love, persistence, etc. with a definition that I created, with my wife’s input. I then turned it into a workbook with one word per page and space below for notes. For years we would discuss with my two daughters and they would draw pictures and make notes in the blank space. I may share some of those images with you. As they got older, they were less inclined to draw and more open to quotes and references from adults, hence where Frey Freyday came from….

I dedicate this first Frey Freyday/Word To Live By to my parents, Jim and Joan………..

par·ent (pâr′ənt, păr′-) -Parents can be any couple (or individual) that gives birth, adopts, acts as a guardian or otherwise raises a child. It takes almost no effort or care to be a father or mother. It takes lots of love, care, and attention to be a Mom or Dad. A parent provides unconditional love, guidance, listening, nurturing, protection, education, support, morals, values, resilience, commitment, leadership, humor, and ideas. Just like the child, the parent learns along the way too, they do their best. One of the hardest things for a parent to do is also the best thing a parent can do (eventually) and that’s give a child the gift of independence and eventually ‘let go’ and have faith in their child.

[Note: children will never really know what the love for a child is like until they are a parent]

——

One of the greatest titles in the world is parent, and one of the biggest blessings in the world is to have parents to call mom and dad. -Jim DeMint

At the end of the day, the most overwhelming key to a child’s success is the positive involvement of parents. -Jane D. Hull


Respect your parents. What they tell you is true. Hard work, dedication and faith will get you anything. Imagination will drive itself. You can get anything you want, but you have to have faith behind all your ideas. Stick to your goals and have an undying faith. -Russell Simmons


How true Daddy’s words were when he said: all children must look after their own upbringing. Parents can only give good advice or put them on the right paths, but the final forming of a person’s character lies in their own hands. -Anne Frank


Children learn to smile from their parents.-Shinichi Suzuki

The child supplies the power but the parents have to do the steering.-Benjamin Spock


We never know the love of a parent till we become parents ourselves.-Henry Ward Beecher


If at first you don’t succeed, blame your parents.-Marcelene Cox

When I was a kid my parents moved a lot, but I always found them.- Rodney Dangerfield

Interview Those You Love (Before They’re Gone)

Several years ago I lost both parents within 5 weeks of each other.

Among other things, I had a bunch of things I always wanted to ask them Things like, where were they when the landed on the moon? When Kennedy was shot? How did you overcome your business challenges? What did you fear most as a parent? How did you overcome your heartattack and get back into the workforce? What would you do differently as a parent?

….and many many more things. I wanted to ask them about their school experience more, other relatives, family details, etc.

Then recently I came upon this, and I wanted to share, I think it is something we never thinks about but we should.….

http://brendonburchard.tumblr.com/post/98560312858/interview-your-loved-ones-before-theyre-gone

From Brendon Burchard….

Full Transcript:

How do you honor people?

If you have loved ones who you’ve lost or you have people in your life right now who you just admire greatly, who are helping you out, who are influencing you in positive ways, how do you honor people?

In our society, especially in the Western culture it’s so much about giving them gifts, pay increases or sending them stuff.

But I actually want to talk about a different way that you can honor people that a lot of people from our audience who know this story always find meaningful. I think it would be so phenomenal an experience for your family members and for you in the future.

Maybe you know the story and maybe you don’t, but in 2009 on Mother’s Day, my dad was diagnosed with acute myeloid leukemia. He’d been a pretty healthy guy, played racquetball and went bowling all the time, played golf and he was happy and healthy. But he woke up on Mother’s Day and he was walking down the hall of the house and my mom saw him drifting a little bit and said, ”What’s wrong with you?” He said, “I’m out of balance and it hurts here on my side.”

They went to the doctor and the doctor said that’s weird your spleen seems to be enlarged and they did a bunch of tests and found out he had acute myeloid leukemia.

It’s the kind of leukemia you definitely don’t want. You don’t want either, but that one is the one that tends to take people’s lives quickly. Dad went through a couple rounds of chemo and unfortunately they weren’t helping. They wanted to put him on a course of the third treatment but it was clear it wasn’t going to work, that would decimate his body, and he made the choice to go home and be at our house with Hospice care until the disease took him.

So, from diagnosis to death we had 59 days with dad and that was it.

I feel very lucky for those times. I had an amazing relationship with my dad as did my family. I love him so much and it was something that’s taken this many years to shoot a video about, because I used to not be able to control any of my emotions and I didn’t speak about it that much on stages for a long time, because it was such a huge emotional toll.

One thing I was happy about that I was able to do during that time is when we knew it was bad and that we might lose him, I happened to be away traveling… I was teaching a seminar to a few hundred people and he called to let me know the second course of chemo hadn’t worked and they didn’t know how long he would have. They were constantly saying, “You have a week left, a week, ten days, three days.” It just took his body so fast because what happens is the stem cells aren’t creating the white cells correctly and the white cells start hampering the body’s ability to function. They’re mutated with leukemia and it takes over your entire body just that fast.

I didn’t know if I would get to see him again or if I could get out there fast enough, so I asked him, “Dad, can I call you and interview you? I want to ask you some questions and record it.” He was in the hospital and just recovering having gone through the chemo and he said sure. I just didn’t know if I would get there fast enough. I called him back and used a free conference calling line, which you can Google and find that allows you to record. I called him and recorded it.

I asked him 30 questions or so about life and I’ve posted the link to those questions [click here to get the interview guide] and I’ve formatted it in a way where you could ask anyone in your life these questions. It’s just about getting to hear them talk about what’s important in their life.

  • What did they learn when they were young in adolescence?
  • How did their mother or father influence them?
  • What did they learn from their parents?
  • What did their grandparents want them to carry on?
  • What do they want you to know after they’re gone?
  • What do they want your brothers or sisters to know after they’re gone?
  • What values do they want to teach?
  • What do they want you to remember when the times are dark?

Just advice from this person that you love.

It was my dad, and he gave unbelievable advice. I would say from everything I own in my life now, this is the most treasured thing I have is this recording of Dad, just him talking about life.

It took me a long time to be able to listen to. If I listen to it, I completely get emotional about it, but at the same time I find it empowering and inspiring and it connects me back to him. It’s meaningful to me, too, because while you’re watching me on video now or listening to me in whatever format, in growing up, my dad, his generation just didn’t have any video. I don’t have that much existing video of my father at all outside a wedding, so this is one of the few remaining recordings I have of him.

It was a two-three hour conversation that really inspired me. One of the things he said in there is the reason I’m shooting this video. I asked him what he wanted his kids to always remember and we were talking a lot about it and he just said a few things, these seven things he was always telling us in some way or another throughout our lives and he was demonstrating. He’d say them, but he kind of strung them together in this thought and I keep returning to it over and over again. His seven legacy statements for us were:

  • Be yourself
  • Be honest
  • Do your best
  • Take care of your family
  • Treat people with respect
  • Be a good citizen
  • Follow your dreams

Those seven things, which were really his values and who he was in so many ways, and he said a lot of amazing things during the interview, but those things I carry with me and I’ve perpetuated over and over. I’d tell his message to all of my audiences. I’ve shared that on a quote card on my Facebook pagebefore and it literally got 40k likes in a week. I don’t know how many times it’s been shared now, but literally hundreds of thousands of times been seen by millions of people and it stunned me.

It reminded me that one of the best ways that we can honor somebody is to carry forth their values but not just to communicate them, not to just live them or have them, but to share with other people.

Maybe you had a grandparent who inspired you and you should tell people about that grandparent and what they told you about life and how to live a good life.

I think there isn’t a lot of conversation, amazingly, in our culture broadly and at an individual level about what it takes to live a good life.

People don’t talk about that as much anymore. Personal growth in terms of an industry seems to be declining, because now people can just get something for any time and everything is so immediate, less people reading books and that genre, less people engaging it seems like.

I’m blessed to have so much of a wave in this area of personal development with this YouTube show being so successful and my Facebook thing taking off and email list exploding over the past couple years. I can share with you that what makes those things meaningful is trying to share meaningful advice with people, meaningful insights and I think you can do that.

I think there have been people who have inspired you and the more you tell their story and tell people explicitly and directly, this is what they taught me the more we carry forth the legacy of those before us for future generations, the more we become standard bearers of what a good life is because if no one’s talking about it and if no one is communicating values as much anymore, we start to lose that.

And I think what’s happened is generation after generation has failed to hold the line of high standards in humanity.

We’re getting more and more lackadaisical with “anything is okay” and celebrating idiots on television, angry people or the smart bitter comment that jabs at somebody versus talking about what it takes to be a good person.

What does it take to live the ideal life? Obviously I’ve dedicated my life to that. This whole thing is about living your charged life. What would that feel like?One of the things to live a fully charged life is to honor the people in your life. I encourage you to interview them and completely steal my interview form and call someone you love and interview them. I think you’ll be surprised at some of the things you’ll learn and some of the tidbits they’ll give you, you can remind yourself. I carry them around in my wallet. I think about these things because they give a guidepost of behavior everyday to live up to, to live into your highest self; to live into those ideals and values.

There are lots of ways to honor someone. If they’re still with you, sometimes it can be as simple as calling them, taking them out to lunch, sitting them down, looking them directly in the eye and saying,

“I just wanted to spend a few minutes with you sharing how you’ve impacted my life. I just want to spend a few minutes with you telling you why you made such a difference for me. I want to share with you the values and maybe you never told me but I just see them in you, there’s something… Your strength and positivity or, your hope or your belief in me. You might not know it but it carried me through days that I didn’t think I could make it through. What you have told me I’m going to carry forth. What you help me do I’m going to help more people do.”

It’s in that perpetuation of goodness that we hold the line of the best that is in humanity, and I encourage you to do that.

It can be as simple as writing a letter to someone and professing to them, this is why I love you, care for you and admire you.

It can be as simple as shooting a video and sending it to them saying, “Hey, I just wanted you to know the impact that you’re making and I’m going to carry it forward.”

The number one way to honor someone is to carry their voice and values forward everyday through your behavior and explicitly through stories and advice and guidance of other people.

I think that’s the ultimate way to honor people, more than the fanfare of a fancy gift or if you have a great employee and giving them a raise, but to really celebrate somebody’s words and their noble character and what they have to share with other people, that is a magical way to make a difference, to perpetuate the goodness in humanity and to celebrate and honor someone who’s made a difference in your life.

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Like this episode? Please share it with others. Let’s inspire others to live a fully charged life. The interview guide referenced in this video can be downloaded free here.

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Feel free to share:

Frey Freyday – Memories

(Frey Freyday is simply a bunch of inspirational, motivational and other quotes meant to make you think, reflect, smile, even laugh a bit. Hopefully helpful, useful stuff..)

Memories are thoughts that arise. They’re not realities. Only when you believe that they are real, then they have the power over you. But when you realize it’s just another thought arising about the past, then you can have a spacious relationship with that thought. The thought no longer has you in its grip.-Eckhart Tolle

The heart of marriage is memories; and if the two of you happen to have the same ones and can savor your reruns, then your marriage is a gift from the gods.-Bill Cosby

Take care of all your memories. For you cannot relive them.-Bob Dylan

You shouldn’t wait for other people to make special things happen. You have to create your own memories.-Heidi Klum

To reminisce with my old friends, a chance to share some memories, and play our songs again.-Ricky Nelson

Memories are the key not to the past, but to the future.-Corrie Ten Boom

Chocolate is the first luxury. It has so many things wrapped up in it: Deliciousness in the moment, childhood memories, and that grin-inducing feeling of getting a reward for being good.-Mariska Hargitay

It’s great to reminisce about good memories of my past. It was enjoyable when it was today. So learning to enjoy today has two benefits: it gives me happiness right now, and it becomes a good memory later.-George Foreman

Memories of my girls are pretty precious. – Jim Frey

Whenever I think of the past, it brings back so many memories.-Steven Wright

I think it would be interesting if old people got anti-Alzheimer’s disease where they slowly began to recover other people’s lost memories.-George Carlin

Survive the Unthinkable,

 

I am always on the lookout for good books.

I try not to ‘over-recommend’ either, but here is a great one….Survive the Unthinkable,

 

…here is some background…..you may know someone in a situation that this may be relevant…..

Violence against women remains one of the most common human rights abuses in the world. Women ages 15 through 44 are more likely to die or be maimed because of male violence than because of cancer, malaria, war, and traffic accidents combined.

Rape and attempted rape are very much silent assassins. Only 16 percent of rape victims actually report an incident to the police, which means that the statistics we have about rape in the United States barely reflect the grim reality. The World Health Organization has found that domestic and sexual violence affects 30 to 60 percent of women in most countries. And the majority of offenses are committed by someone the victim knows or at least recognizes.

Perhaps the most disturbing truth is that the rape perpetrator will probably victimize seven to nine women before he’s jailed.

In our increasingly violent collective, women must often yield to an incessant voice that warns: Be careful where you walk. Be careful where you park. Be careful where you go. Be careful what you wear. Be careful what you say.

The unnerving posture of gender violence is what prompted me to seek out the best self-defense instructor I could find for the women I care about in my life — who just happens to be the author of the book you’re holding in your hands right now.

Tim Larkin’s Survive the Unthinkable relays a message of empowerment, not panic. It’s the key that can unlock your personal power as a woman.

With many things in life, the truth is often nearly 180 degrees from what your imagination might suggest. The principles and methods that Tim Larkin shares in this critical book are perfect examples of this:

  • Women need NOT be vulnerable to attack, and they already have the tools necessary to avoid violence or protect themselves in those rare instances where avoidance isn’t possible.

  • Even the most violent sociopaths are incredibly vulnerable once you know the psychology of what drives their behavior.

  • The people who are most effective at “self-defense” typically have no formal training.

Being able to protect yourself doesn’t require muscle, fancy techniques, or months of practice at the martial arts studio. All that you need to live confidently and joyfully is knowledge and the willingness to apply it.

As a woman, you have people who depend on you — perhaps your partner, children, siblings, friends. Please consider the ability to defend yourself a responsibility, not a luxury, in much the same way that you might exercise, wear your seatbelt, or get regular medical checkups.

This book presents imperative components that ensure peace of mind, which ultimately allows us to find fulfillment in our daily life. The emotional edge my friend Tim Larkin presents helps to create a better life through key adjustments to our perception, psychology, and awareness. You can trust, as I do, that Tim Larkin’s teachings are the most effective, thoroughly tested, and reliable way to ensure your safety, confidence, and self-assurance, which will in turn enable you to effectively cooperate with others, operate at optimal productivity, and get the most enjoyment out of every day of your life.

www.timlarkin.com

Approximately   1.9 million women are physically assaulted annually in the United   States alone. In his New York Times bestselling book Survive the Unthinkable, Tim Larkin empowers women to   understand that surviving a potential attack isn’t about being   physically bigger, faster, or stronger; it’s about knowing how to   self-protect, not self-defend. – See more at: http://www.timlarkin.com/book.php#more

(Foreward by Tony Robbins)

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