Boomfish Wealth Group, LLC
(678) 278-9632
12600 Deerfield Parkway Suite 100
Alpharetta, GA, 30004
U.S.A

You Don’t Need a Time Machine

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In the 1980s classic film, Back to the Future, Marty McFly (played by Michael J. Fox) gets the rare opportunity to see what life was like back in 1955. unnamed (4)Compared to today, it certainly seems like a simpler time. There were no reality TV shows, no Internet, no coffee pods, and the media wasn’t present in every single aspect of our lives, warning us of imminent danger ahead for our kids, for our money, and for our very futures.

There are many people who think, “Why couldn’t I have lived back in simpler times? Why do I have to live waiting for the next big economic crash?” This type of thinking doesn’t do anybody any good. Instead, consider this: You were born and are living in the precise time you are supposed to be living.

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Why NOW is the Time

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Why NOW is the TimeThe tragic passing of talented 46-year-old actor Phillip Seymour Hoffman was a shock to America and to the world. And now the public is privy to his seemingly inadequately executed estate planning.

We can’t truly know if Hoffman intended to pay an unnecessary $15 million in taxes out of a $35 million dollar estate, whittling it down to $20 million. The IRS might like it, but most taxpayers certainly wouldn’t. He also had three children with his partner to whom he was not married. That was also a personal choice, but it cost his partner Marianne O’Donnell millions. If they had been married, the property would have all passed to Ms. O’Donnell tax-free.

The message here is more than a simple tax lesson. The real point is that no one could have expected—his partner, his children, his friends, or his fans—that Hoffman would not live to see his 47th birthday. But one expectation you can have about life expectancy is that you ultimately never know when anyone will die.

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The Real Source of Your Success

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The Real Source of Your SuccessCroatian music teacher Frane Selek is perhaps the world’s luckiest man. He’s been in a train wreck (the train plunged off a cliff into an icy winter river), an airplane crash (all passengers were killed except Selek, who was sucked out of the door on the descent and landed in a haystack), a bus crash, two car explosions (one of which caused flames to pour into the interior of the car), a collision with a city bus while he was crossing the street, and a 300-foot plummet into a rocky ravine (his car burst into flames but he managed to jump out of the window and land on a tree on the side of the cliff). Then in 2003, he won $1 million dollars in the Croatian lottery!

If someone were to ask Selek, “Why you?” an easy response would be, “I’m just lucky I guess.” But instead, Selek feels blessed. He was blessed while so many others were not. Today, he’s given away most of his fortune and moved back into his original modest home, thankful to still be alive and with his wife.

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The World is Watching…

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The World is Watching…Thanks to smart phones with cameras and videos, the paparazzi, and the Internet, there’s not much you can do anymore that isn’t subject to being scrutinized by, well, everyone. Celebrities know this all too well, which makes you wonder how they can ever leave the house at all. But Americans certainly seem to be glad that they do—if only to criticize what celebs are wearing, how they are aging, who they are eating with, and even what they are eating.

Luckily, for most of us, the scrutiny we face is not so extreme. But make no mistake… the world is watching you too—and they want to know if you will do something “worthy” with your wealth. The choices about how to distribute your possessions are only a small part of the issue. Right or wrong, the world has an expectation that you will “DO SOMETHING” with your wealth. This isn’t bad or good. It just… IS.

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Don’t Be Like Shakespeare

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Don’t Be Like ShakespeareStories abound of people’s really odd last requests and bizarre wishes in their Wills:

  • William Shakespeare’s Will included a wish that his wife receive his “second best bed.”
  • Napoleon Bonaparte requested that his hair be shaved and divided up amongst his friends.
  • Playwright George Bernard Shaw left a large portion of his wealth towards funding the creation of a new alphabet.
  • Iowa attorney T.M. Zink left his daughter $5, his wife nothing, and the rest of his money was instructed to be used to build a “womanless library.”

For the rest of us, we’ve got real issues to think about when it comes to our estate and what we will be able to leave our loved ones. In fact, the task of planning can feel so overwhelming that it’s tempting to just avoid it altogether or leave it for someone else to deal with after you’re gone. And here’s the REAL PROBLEM:

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Are You a Victim or a Victor?

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Are You a Victim or a Victor?They say lightning never strikes the same thing twice—but it struck Roy Sullivan a whopping seven times. Roy (now known as the Human Lightening Rod) was a U.S. park ranger in Shenandoah National Park in Virginia, and he holds the Guinness World Record for the most number of times lightning has struck one human being. That is one seriously unlucky guy… or maybe, just maybe, he’s one of the luckiest people around! After all, he did get hit by lightning seven times and actually live to tell the tale.

Are there really people who are lucky or unlucky in life? Or is it something else? There are a lot of people who play the victim when the proverbial lightning strikes in life, in business, and in their financial and estate planning. These are people who some bad things happened to, who got bad advice, or someone steered them wrong. But it’s never their fault, right?

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The Most Important Question

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The Most Important QuestionFor those of you who enjoy the gritty action of the old Dirty Harry films starring Clint Eastwood, there’s one question in this world that’s hard to forget: “Do I feel lucky?”

Well, do you? When it comes to making wealth-planning decisions, it’s hard to feel anything close to lucky. With traditional planning, it may even feel like you are being punished for being affluent! The problem is, there is one REALLY important question that your current advisors just aren’t asking—and it’s a critical one for your money and the future of your legacy: WHAT NOW?

Get used to that question because it’s the most pressing one you can ask about your wealth planning. What do you do now that will lead to even better opportunities awaiting you? What do you do now to make your life significant and remain significant?

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You Are Not a Number

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you are not a numberSci-fi book series and movies franchises are all the rage these days. According to story lines like the ones featured in The Hunger Gamesand Divergent series, one day we’ll all be divided into factions, dressed in the same clothes, doing identical tasks, and given the same medicine, no matter what troubles us.

To me, that sounds an awful lot like the way most wealth advisors treat their clients. As though we’re all on an assembly line, they follow the same plan for every affluent person who walks into their office.

That’s crazy! You’re unique, and you deserve a plan that meets your specific goals. So, it’s time to put your current wealth planning to the test. Does your plan speak to your specific and stated objectives (did your planner even ask what those things are)? And does your plan enable you to live the rest of your days anxiety-free about what happens to your assets?

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Uncover Your Hidden Purpose

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uncover your hidden purposeMac Lewis is not your typical new business owner. He’s chief executive officer and co-founder of FieldSolutions.Working with a network of more than 27,000 independent contractors, the company provides field service technicians to large technology companies throughout North America.

The thing is, Mac started the company when he was 60 years old. He had worked for large tech companies his entire career. But then, around the age when most people are only thinking about retiring, Mac decided, as he puts it, that he “liked being in business better than being on boards.”

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You Have Money… Now Can You Keep It?

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Keeping Your MoneyWhat do Wayne Newton, Mark Twain, and MC Hammer all have in common? They all declared bankruptcy after amassing a great fortune through their trades and talents. Their cautionary tales seem to prove one commonly held belief to be true: 

Making money is not the hardest part—the hardest part is holding on to it.

Now, because you’ve worked hard, been lucky or blessed, and are affluent, you can probably relate to that sentiment. There are plenty of ways to spend money, and there are even more ways to spend money in the supposed pursuit of planning for the future.

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