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Today's Key Question:
Many people - even wealthy people - feel that if they do estate planning (which could, of course, include the purchase of life insurance,) they will somehow jinx their life. See the article from Forbes below.
Have you ever felt that way? If so, we should talk about that.
"6 Ways To Protect Your Foreign Assets In Estate Planning"
From Wealth Advisor:
* As technology, innovation and air travel continue to bring us closer together, more and more people are describing themselves as “citizens of the world.” Along with this newfound global citizenship identity often comes ownership of assets in foreign countries.
"This might just be the end of the office as we know it"
From CNN Business:
* Companies across the country are grappling with what their workspaces are going to look like in a post-pandemic world. But for many employers, another big question is: Do we even need an office?
"How Can I Tell Whether My Business Ideas Are Good or Bad?"
* Rich Vogel, founding partner and CFO of Loeb.nyc believes aspiring founders need to find a balance between catering to consumers during the crisis and making sure their product will still be valuable five years from now. “New entrepreneurs should think about whether they are just starting a business for the problems of today, or whether the product will extend beyond the crisis. They have to understand the long term potential of their business.”
"The Three Reasons People Avoid Estate Planning"
* We found that Covid-19 had a significant impact on Americans' sense of personal readiness, with 65% saying that coronavirus made them realize the importance of sharing important information with family. Around the same amount of people (64%) noted that planning for the future was more important than ever and half (50%) said the pandemic made them realize how unprepared they were for a serious emergency. (You can see the full survey here (pdf).)
Let’s start with people who are superstitious and believe doing this somehow jinxes their life. An example I’ve used for years to combat this type of thinking is to mention why people buy car seats for their kids. I’ve never met a parent who refused to buy a car seat because they thought it would make them more susceptible to an accident. You buy one because you’re being a responsible adult.
Here's a short video from Steve on how you can purchase insurance in these changing times....Watch Here