Poet Robert Browning said “less is more.” As we work toward our financial goals, we should stay focused on less things.
Many humans, like me, have a tendency to make things more complex than necessary. As we work toward financial goals, let’s keep things simple and let’s start with avoiding “unforced errors.” Read Full Article
Archives for October 2016
The Important Succession Questions Around Whether or Not it’s Worth it
Have you ever asked yourself life’s most important question, “what is the point to what I am doing?” Or maybe it’s more like, “why am I am doing what I am doing?” For our farm clients at Dunncreek Advisors, it’s a valid question that runs through the minds of every farm owner that walks through our doors. Honestly, have you thought about what your purpose is? Many of our clients come in and tell us that they are working hard and building something that will hopefully bless their next generation. However, is building up your farm truly going to bless others? Is it your true purpose? Dunncreek Advisors can help to be a third party resource when important decisions like your farm legacy come into play, regardless of your purpose. Read Full Article
The Important Succession Questions Around Whether or Not it’s Worth itRead More
When Was the Last Time You Reviewed Your Life Insurance?
Lots of folks have life insurance. Often they got it a long time ago. Mostly they think that it’s handled and they don’t need to think about it. But, often, they are wrong. A quick check is worth the trouble.
If you got “hit by a grain cart” tomorrow and were gone, what happens to your family? If you have life insurance, everything would be fine, right? But, what if that insurance has your first wife listed as the beneficiary?
It may seem far-fetched, but beneficiary errors are quite common. And they are just one thing to check in a routine insurance update. Read Full Article
When Was the Last Time You Reviewed Your Life Insurance?Read More
Importance of a Trusted Legacy Planning Advisor
Death is not easy. Sure, a passing that is expected is a little bit easier to swallow than one that suddenly occurs, but either way you can be left heartbroken. When financial stress around a legacy plan adds to the stress during this time, families have been broken apart when they should be holding each other close. If you are adamant that this type of situation doesn’t happen to your family, it is important to go ahead and focus on getting your surrounding family in line with your legacy plan. Read Full Article
Should You Provide A Gift to Your Tenant From an Estate Plan?
If the land that you own has had a consistent tenant year after year performing operations such as farm work or running a business, chances are that you probably have a close relationship. When reviewing your estate plan, the question becomes whether or not you should include a monetary gift to your tenant. Whether it is a few thousand dollars or a few hundred thousand dollars, this is a decision that should be thoroughly thought through. Working with a financial expert that specializes in estate planning is your best bet to ensure that all parties involved are treated well. A financial advisor can walk through the goals that you have in place for your estate plan and help to make sure that those goals are achieved. Read Full Article
Should You Provide A Gift to Your Tenant From an Estate Plan?Read More
Are You Making One of These 6 Retirement Errors?
It might surprise you the mistakes that can derail your retirement plan.
Retirement planning can be a tricky area to navigate because it involves hundreds of rules, and violating them can result in unnecessary taxes and penalties. It’s no surprise that many retirees have made costly errors in their golden years. It’s just another reminder about the benefits of an independent, fee-only, fiduciary financial planner. Read Full Article