Estate Planning for Digital Assets

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Bet you never thought about what would happen to your email, Facebook, Twitter, and other digital accounts after your death. Well, here's one more thing to add to your estate planning. Check out Consumer Action's Digital Estate Planning Guide at http://www.consumer-action.org/downloads/english/spring_2015_digital_estate_planning.pdf

Make your money last as long as you do

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While there are a variety of strategies for spending down retirement investments to try to last for a lifetime, the only sure way to accomplish this is through the purchase of single payment life annuities (SPIAs). Lewis Mandell, Ph.D. explains why annuities are ideal for accomplishing this task in his book "What to do when I get stupid: A radically safe approach to a difficult financial era." See: http://lewismandell.com/. At the same time that our ability to make prudent financial decisions declines with age (after peaking at age 53 and really declining after age 70), confidence in our abilities actually increases! This is a scary combination well documented by extensive research. "The two major questions posed in the book ask how we can generate sufficient guaranteed real income to last the rest of our lives, not matter how long we live and what are the best ways to protect our lifetime income against possible irrational decisions of our future selves" (p. 152). This is a MUST READ for everyone approaching or in retirement AND for their children. I've heard too many stories of how elderly parents were taken advantage of by financial professionals with dubious interests, and by outright fraudsters, draining assets meant for heirs and leaving the adult children to support their parents.

How Utah Became a Bizarre, Blissful Epicenter for Get-Rich-Quick Schemes

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Considering multi-level marketing... or just curious as to why Utah County is the epicenter of MLM? Read this fascinating account of a journalist's exploration of Utah MLM. "It’s early May and I’m at a Marriott hotel in Salt Lake City for a conference of Q Sciences, the company that sells EMPowerplus Q96. Here, everyone but me is a salesperson, which means these testimonials are also pitches. Q Sciences is a multi-level marketing company, selling not in stores but through regular people, who earn commission from selling products as well as recruiting others to do the same. This last bit makes multi-level marketing unique—and controversial. Trying to wrap your head around the concept of selling a business opportunity to sell a business opportunity to sell a business opportunity can feel like being lost in a hall of mirrors (after ingesting grainy, off-white powder). It’s profitable: The industry’s biggest players, like Amway, Mary Kay and Herbalife, each bring in upwards of $4 billion per year, according to Direct Selling News, a trade publication. To figure out how much the workers make, head back to the hall of mirrors. Tales of newly-minted millionaires circulate like cash, as do stories of people who’ve lost fatal amounts of it. Money is only part of why one joins, though: Here in the Utah Valley, distributors preach a gospel of mind-body wellness, founded on healthy supplements and spiritual growth. These suburban towns nestled at the foot of the Rockies are the epicenter of a global industry worth $183 billion. Depending on who you ask, this industry is either a bastion of American innovation or a scam of epic proportions, the Giza of pyramid schemes. Meanwhile, facts that might help you decide which one it is—such as whether distributors earn or lose money, and how much—are difficult to pin down." Read "How Utah Became a Bizarre, Blissful Epicenter for Get-Rich-Quick Schemes" by Alice Hines at: http://talkingpointsmemo.com/theslice/mormon-utah-valley-multilevel-marketing-thrive-doterra