Connecting Dots

NOTES

1. What is 3M

2. Meaningful Discussions - Clients

3. Focus, Aware, Ignore

4. Like, Good, Profitable, Control

5. Minting Millionaire, Mature, and Monumental Mindsets

6. Rational and irrational

7. Emotions deeply affect us

8. Emotions dominate some more than others

9. Confirmation bias

10. Looking for validation of existing actions, beliefs, and events

11. Soothe the ego

12. Seeing what we want to see

13. Our moods often govern actions

14. Disconnected from reality

15. Thinking before reacting, the big pause button not a reset button; no resent if you don't do it

16. What is really happening versus what are we feeling

17. Random and chaos cannot exist, people need meaning and order; seeking order at all cost - lockstep mentality

18. Emotions cloud our vision

19. Thaler, Financial Behavioralism, Nobel Prize, We've known this for 40 years

20. Rational investors versus irrational investors

21. Never make a decision under the cloud of strong emotions

22. Deliberative process

23. Imagine and consider all possible consequences

24. Everyone thinks they are rational

25. Rationality is not a born trait, rather it is learned over time, acquired, and needs instruction, training, and practice

26. Think for yourself rather than reacting to what others give you

27. Emotions narrow the mind

28. A wide range of options exist, evaluate the strategie

29. Focus, Aware, Ignore

30. Like, Good, Profitable, Control

31. Minting Millionaire, Mature, and Monumental Mindsets

32. Rational and irrational

Anger triggered by a prior, unrelated experience that, from an objective perspective, should not influence our current judgments or decisions can make us unreceptive to what others have to say. In related research, Scott Wiltermuth of the University of Southern California and Larissa Tiedens of Stanford University found that anger triggered by something unrelated to the decision at hand also affects how we evaluate others’ ideas. irrelevant emotions triggered by a completely unrelated event can take us off track. The next time you drink a bitter cup of coffee or have an argument with a loved one, pause to consider how your emotional reactions could linger as you enter into important task or weigh a complex decision.

LINKS

How to stop your emotions from clouding your financial judgement

Don’t Let Emotions Screw Up Your Decisions

Monday - Questions

Submit you questions by visiting FixedCostFinancial.com and use the blue Intercom button.

Tuesday - SWAT - Sudden Wealth Awareness Training

Today’s discussion is about the importance of a stand-by irrevocable trust for life insurance benefits for the protection of children and preventing the spendthrift from blowing, or the stranger from getting it.

Sports

Entertainment

Inheritance

Litigation

Lottery

401(k), 403(b). 457. Deferred Comp, or Lump Sum Pension Distribution

Life Insurance Settlement

Wednesday - Business

You are a lifestyle business where business is a lifestyle

Thursday - 3M

Minting Millionaire Mindsets

Minting Mature Mindsets

Minting Monumental Mindsets

Friday - Current

Looking at people, places, and events from the past week with a critical eye on connecting dots.

Saturday - Deep Dive

Sunday - Shows & Movies

LINKS

Tips for Using Trusts to Protect Life Insurance Proceeds and Secure Support after the Dissolution of a Marriage

How to keep spendthrift heirs from blowing their inheritance

NOTES

You’re dead.

Many buy life insurance because they feel they need to.

No need, not love, no money, no sale.

Yeah, yeah, yeah, just get it over with.

But think about the bucket of dollars that will drop in someone’s lap.

Take a lot more time with the beneficiary designation, and don’t hesitate to consult with a true fiduciary-based advisor.

You’ll also need a competent lawyer to draft documents.

Don’t do this yourself or let a hack do it for you; the hack is committing a crime and it’s know and the unlicensed practice of law.

Monday - Questions

- Four questions from listeners

- Mutual funds or ETFs?

- Why do you hate financial planners and financial planning?

- Broker, Dealer, Advisor, Registered Representative, Investment Advisor Representative - There’s a huge difference

- My guy says his AUM is a fee and it’s the same as FCF’s fixed cost investing. I want to become a client, what should i do? He says we’re on the same side of the table.

Tuesday - SWAT

- Sudden Wealth Awareness Training

- Sports, Entertainment, Inheritance, Litigation, Lottery

Wednesday - Business

- You are a lifestyle business where business is a lifestyle

Thursday - 3M

- Minting Millionaire Mindsets

- Minting Mature Mindsets

- Minting Monumental Mindsets

Friday - Current

- Looking at people, places, and events from the past week with a critical eye on connecting dots.

Saturday - Deep Dive

-

Sunday - Shows & Movies

LINKS

Slide rule

Abacus

Dinkytown.net

Confessions Of A Former Financial Advisor: 5 Things I Didn't Tell My Clients

The envelope system

What is a fiduciary?

What you need to know about financial planners

NOTES

A financial advisor who makes a living through commissions has a strong financial incentive to include life insurance, as some insurance companies pay rather well for selling their products.

From the Financial Industry Regulatory Association website: “Financial planners can come from a variety of backgrounds and offer a variety of services. They could be brokers or investment advisers, insurance agents or practicing accountants—or they may have no financial credentials at all. Some will examine your entire financial picture and help you develop a detailed plan for achieving your financial goals. Others, however, will recommend only the products they sell, which may give you a limited range of choices.” The American consumer deserves better, and it begins by making sure that words have consistent meanings.

Pending.

JPMorgan shareholders approve executive pay, fewer votes than last year - Reuters

Executive Compensation Is Out Of Control. What Now? - Forbes

Abigail Disney says NO to Bob Iger’s $65,000,000.00 Compensation - CBS News

Five Keys to Effective Executive Compensation - Chief Executive

Executive Compensation - AFL-CIO Paywatch

CEO compensation has gone completely haywire - Seeking Alpha

Live Nation CEO Michael Rapino Paid $70,615,760.00 - Digital Music News

Live Nation $41,000,000.00 Net Loss in Q1 2018 - YourEDM

Bill Clinton Created This Terrible Corporate Loophole - The New Republic

The Epic Loophole - 1992 Manifesto “Putting People First” Didn’t Work - The Agenda

CEO-to-Worker Compensation Ratio - Fortune Magazine

Give Mutual Fund Investors a Voice in Shareholder Proxy Voting - MarketWatch

Shareholder Voting in the United States: Trends and Statistics on the 2015-2018 Proxy Season - Harvard Law

Retail Shareholders Not Voting, And It’s An Issue - Forbes

Vince McMahon sells $272M in stock to fund XFL - FoxBusiness

XFL Website - XFL

XFL Code of Conduct - XFL

NFL Player Arrest Records - USA Today

80% Of Retired NFL Players Go Broke - Forbes

Show Notes:

Screenwriting and video production for children age 11+

YouTube Gamecasting and Video Production

STEAM ACTIVITY: VIDEO PRODUCTION FOR KIDS

TEACHING VIDEO PRODUCTION IN SCHOOLS: KIDS & VIDEO MAKING GO TOGETHER LIKE PEANUT BUTTER & JELLY!

A Manual for Child-Created Video Production for Use by Classroom Teachers

Helping your children make videos - If your children love moviemaking, here are some tips for helping them develop their production skills and storytelling abilities. Moviemaking is almost always a team effort, and it can be very rewarding to team up with your kids on a project. If you already have decent video production skills, you can be a teacher and a helper. If you're a novice, making a movie is an opportunity for you and your child to learn together and from each other.

Digital Video Production: Start a YouTube Channel

Parents concerned about YouTube debate whether to let their children have their own channels; some forbid it, others send them to summer camp - These camps bring up a debate raging in many households: whether to allow children to post videos on YouTube. It gets at perhaps the biggest question of parenting in a digital age, which is how much leeway to give children in this fast-changing frontier while also protecting them—from themselves as much as from others. While many parents won’t even entertain the idea of allowing their children to be on YouTube, in part because it could invite bullying or predators, others view the medium as a creative outlet that can teach their children life skills, such as planning, storytelling and composure.

Film + Photography Summer Camps - Experience digital filmmaking or learn professional photography and Photoshop® techniques with hands-on, in-class and field-based instruction. Photography students discover how to capture images, create vibrant and professional digital photos, understand color theory, and discover the masters of modern art. Film students will be immersed in the entire production process, from screenwriting and storyboarding to shooting, editing and post-production.

2019 Minecraft for YouTube Camps in Philadelphia PA, Main Line PA, Lower Gwynedd PA, Cherry Hill NJ, Princeton NJ, Montclair NJ, NYC Manhattan, Long Island NY, Wilmington DE, Washington DC, Towson MD, St. Louis MO & Los Angeles CA!

SUMMER CAMP - HEY, WHAT'S UP YOUTUBERS?! DIGITAL VIDEO PRODUCTION

YouTube Stars – Summer Camp – June 24-28, 2019

How should we teach our kids to use digital media?

Kids & Tech: Tips for Parents in the Digital Age

Teaching Kids to Be Smart About Social Media

How Should We Teach Our Kids to Use Digital Media?

Teaching Children Responsible Use of Technology

Teaching Kids How To Use Social Media Responsibly

- Trust beneficiary designations for IRAs; the conduit and accumulation trust. Protecting your wealth at death from the spendthrift.

- Mind mapping and mindnodes

- Stock sectors and how they are doing.

- Stupid question from Quora - skipped.

- Family history, Sir Truesdell.

- Advantages of income streams when retired

Show Notes

Breaking Bad - Business discussion with shows or movies - 888-629-7864

Group conversation

Financial news using emotional language

Ad based commentary

Some say everything is falling and others say it’s clear sailing

Blacklisting numerous sources

Investment principles do not change but you change

Long-term and inflation are based on you, not the national economy

Higher inflation when retired due to greater needs that cost money

Cash and near-term cash - Call if you want our withdrawal principles 888-629-7864

The envelope system and our Investment Silos

Do what you like, are good and profitable at, and can control

Do not FIRE - Financial Independent Retire Early - Do not do recess during retirement

Have fun throughout life

Nations go to war over money, never forget that

Focus, Aware, Ignore

Baby Boomers - Birth Rates - Oh oh - Those Damn Televisions

https://www.forbes.com/sites/rickferri/2011/09/06/the-great-age-wave-ruse/#6d82435f6da6

Grandpa’s velcro sneakers

Podiatrist vs. Pedicurist: Where to Go for Senior Foot Care

Excessive CEO Compensation

CEO compensation surged in 2017

Investors Doubled Their Stock Market Losses in 2018 By Making This Costly Mistake. Here's How to Avoid It

How to help seniors who are hoarders

Pros and cons of independent living facilities

Medical cost disclosure

Liquid Real Estate - Call 888-629-7864 - A “Hands-On and On-Demand” discussion about how to avoid being locked into residential real estate. Don’t delay, do it now.

Boss Frames

A passenger on a Southwest Airlines flight from Sacramento to Los Angeles was reportedly removed from the plane after he made a joke