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

Lessons From Spiderman

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In their final conversation before his death, Uncle Ben tells his nephew, Peter Parker (Spiderman’s alter ego) that “with great power comes great unnamed (5)responsibility.” Little did Peter know that a few hours later, the same burglar he had let go would end up murdering his beloved uncle.

In today’s society—with the prevalence and importance we place on superheroes—it seems fitting that this lesson comes from a Marvel comic. But it also begs another question: Who are the real superheroes in this life? The answer certainly isn’t mysterious men and women in masks and capes.

The answer is actually… you. Or at least it should be.

Because you are wealthy, you DO have a great responsibility. Those who are capable of helping the less fortunate have a duty to do so—and that usually means with money. You’re in possession of a great deal of resources and you’re responsible for them when you’re here on earth. You can’t take those things with you; but they’re yours to manage while you are here.

You can be a superhero to someone in this life—and it won’t require any leaps from tall buildings.Before you leave this world, you have the opportunity—and the responsibility—to make thoughtful and thorough decisions about where and how your wealth will make an impact and have real purpose.

When was the last time your advisor asked you about your deeper purpose? If the answer is “never” then it’s time to get a new advisor. Good Wealth Planning is about finding a significant life purpose in action.

Wealth is more than money. Don’t just plan for your future, live it right now. Pass it on and share the insights like this that you find valuable.

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QUOTE
“Non nobis solum nati sumus. (Not for ourselves alone are we born.)”

– Cicero

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You Have A Choice!

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Disney World is a regular stop for our family vacations because it always delivers a first-class experience and an abundance of choices.  As a regular visitor we take great advantage of shorter lines, which first timers rarely discover until it is too late to take advantage… Disney’s “Fast Pass”.The “Fast Pass” takes you to the front of the line of your favorite attractions removing the stress of long lines and allows you to do more of what you want in the time you have at Disney.  Taking advantage of the “Fast Pass” is not really a secret, it’s a choice.When I ask people in our conversations about what matters to them most about what they hope their wealth will allow them to accomplish I ask: Are you charitably inclined?

Too often the answer is “no” and at other times the answer is “somewhat”.

The question is not whether you are charitable or not.  The reality is you are or will be charitable with your wealth.  The real question is: Do you want to be charitable voluntarily or involuntarily?

If you don’t choose to make charitable giving part of your wealth plan, Uncle Sam who is already a “member of your family”, will be sure you are – most likely to fund purposes you don’t believe in deeply.

The great news is this: You have a choice.

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To Give Something Now or Not

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For centuries there were families that hung in the balance awaiting the king to choose which heir would be the successor.  All too often the choice of successor was whispered with their dying breath.  When portrayed in today’s movies it makes for great entertainment.

When it comes to your hard-earned wealth do you want to do something that makes for “great entertainment” one day?

A common mistake is to decide now on an inheritance amount to only leave it all at the end of your life.  Why not begin giving it during your lifetime so you can see the effect it has on your beneficiaries?

Not knowing how much you need for yourself, and an inadequate test of how long your wealth will last is usually the cause for not doing something now.  It also requires thorough thinking, asking the right questions, detailed analysis, and time to consider the best options for the benefit of each family member.

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How Much Is Enough…For You?

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This weekend my wife sent me to the store with my 8 year-old son and 5 year-old daughter to get new shoes.  We came home with shoes, kickballs, football, basketball, baseball glove… need I go on.  And my wife in her “sweet southern” way asked me, “How much is enough?”

It is a question that is better answered before going to the store.

There are two extreme answers to the question: “How much is enough for me?”  One is, “I want to consume all I can on myself while I have the chance.”  Some people make that choice.  It’s those people who live by the adage: “You can’t take it with you so might as well…”.

That outlook leads to certain outcomes.  One of them is what I might call “self-implosion as a result of self-consumption.”

Actor Nicolas Cage is a box-office star, Academy Award winner, and earns millions of dollars.  He’s also spent millions – more millions than he has earned.  Here are just a few of the documented items on which he has spend his earnings:

  • $8 million for Mitford Castle in England and $17.5 million for his Bel Air mansion.
  • 9 Rolls-Royces, 30 motorcycles, a mega yacht, and a Gulfstream jet.
  • Dozens of rare and exotic animals.
  • Over $1 million for an Enzo Ferrari – one of only 349 in the world.

The public record in November of 2009 says he owed $6.5 million dollars in unpaid back taxes.  Cage exemplifies one extreme response that says, “It’s never enough for me.”  The other extreme is to give away every penny in life and survive your final years by living on the generosity of others.

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Two Approaches For Keeping Perspective This Holiday Season

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When did you start your Christmas shopping… for the first time it began for many at 4:00 p.m. on Thanksgiving day.  It’s no wonder that keeping perspective is increasingly difficult.

Regardless of your religious beliefs, most people would agree that the holidays are about family and purposefully giving to others.  If you have purpose in your giving, you’ll also discover joy and inner peace, which are two things this season helps us to remember.

You can make giving – both the kind that happens at this holiday season and the kind that happens throughout the year with sound wealth planning – something you think and act on with great focus and purpose as you do with new business opportunities.

The approach you take to generous giving is determined by your bias in giving.  I write about two approaches in my book, The Secret of Wealth With No Regrets – which would make for a great gift this holiday season.

Approach number one is the Rifle Approach, which is giving larger amounts to fewer charities and the Shotgun Approach, which is giving smaller amounts to many charities.

Step one is to decide which approaches matches up with your desires, and decide on the approach together which the significant other person or persons with whom you make decisions about giving.

There is no wrong way choose to be generous… the important thing is that you choose.  In fact, make sure you give as much attention to your wealth distribution as you did to your wealth creation.

Super-charge your opportunities by discussing your giving desires with a specialists who can unlock bigger giving potential than you can even imagine possible now.

Wealth is more than money. Don’t just plan for your future, live it right now.

Pass it on and share the insights like this that you find valuable.

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Black Friday Special Continued:

The Secret of Wealth With No Regrets book signed by Barry H Spencer and personalized – On orders of 5 copies or more.  JUST $99 and includes Shipping and Handling.

ORDER BY TUESDAY, December 16 to guarantee Christmas delivery.  Email your order to [email protected].

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“You see, Mrs. Walker, this is quite an opportunity for me. For the past 50 years or I’ve been getting more and more worried about Christmas.  Seems we’re all so busy trying to beat the other fellow in making things go faster and look shinier and cost less that Christmas and I are sort of getting lost in the shuffle.”

– Kris Kringle, from Miracle on 34th Street

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The Cure for “Affluenza”

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R.G. Le Tourneau, the inventor of large earth-moving equipment, has inspired many, including my wife and me.  His machines represented nearly 70 percent of the large equipment and engineering vehicles used during World War II, and over the course of his life he secured nearly 300 patents.

Early in his career, and before he had accumulated a significant amount of money, he determined to give away 90 percent of his income for the rest of his life.  Ninety percent!  After he became significantly wealthy, he continued to keep only 10 percent of what he made.

Someone once asked Le Tourneau, “How can you be so rich when you give away so much?”

“I shovel it out, and God shovels it back in,” he answered, “and God has a bigger shovel.”

Regardless of your religious belief, there is a profound truth here to consider.  Generosity has the power to help others and even more – to transform your own life.

Generosity is also the cure for the disease of “affluenza”, which is the thinking that there is never enough for yourself.

Wealth is more than money. Don’t just plan for your future, live it right now.

Pass it on and share the insights like this that you find valuable.

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“Income & Estate Tax Reduction: The 5 Simple Strategies To Use Today To Pay Less Income and Estate Taxes and Have More Money To Spend In Retirement”

You may be thinking you’ve done all you can to have as much money as possible and know you, your family and your money are protected… in our special briefing we reveal the biggest mistakes even smart retirees make and how you can avoid them.

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“If you have built castles in the air, your work need not be lost; that is where they should be.  Now put the foundations under them.”

– Henry David Thoreau

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Because It Is Personal…

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At least it should be.

Fred and Millie Cargill had been married forty years. Although they both came from what most would consider to be humble beginnings, their families wanted them to receive an education beyond high school.  There was one problem: Neither family had enough money to fund education.

Despite this, Fred and Millie were able to receive the education they wanted, through the sacrificial giving of others.  The gifts were indeed sacrificial because family members and friends gave gifts came not from their excess, but out of their own poverty.

The Cargill’s felt blessed by this sacrifice and their education opportunities as a result.  So they found an even greater purpose in their giving when it became connected to their personal experience.  They now give scholarships to individuals to receive an education who otherwise would not be able to attend college.  As a result they are experiencing a new found joy in their generosity.

The joy in generosity comes most when it connects to personal experience.  However, all too often decisions to give or not to give are caught up in a “business decision” when it is ultimately a personal decision.

Think for a moment about your own journey.  What is one thing you could give to that touches your life personally?  Something that connects with a personal experience from the past where a person or an organization helped you at a time of need?

And really, you should give as much attention to the distribution of your wealth – in lifetime and  legacy – as you did in building it.

If you don’t decide, it will be decided for you one way or another.  Do it now and you get to experience the joy!

Wealth is more than money. Don’t just plan for your future, live it right now.

Pass it on and share the insights like this that you find valuable.

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LAST CHANCE FOR 2015 TO Take Advantage of our FREE Special Briefing…

“Income & Estate Tax Reduction: The 5 Simple Strategies To Use Today To Pay Less Income and Estate Taxes and Have More Money To Spend In Retirement”

You may be thinking you’ve done all you can to have as much money as possible and know you, your family and your money are protected… at this special briefing we’ll reveal the biggest mistake even smart retirees make and how you can avoid them.

Seats are already going fast… Your Choice on Thursday, November 6: 11:30 am or 5:00 pm.

Click Here To Access This Valuable Information

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“Surplus wealth is a sacred trust, which its possessor is bound to administer in his lifetime for the good of the community.”

– Andrew Carnegie

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To Give Or Not To Give…

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It seems as if the world’s billionaires are in a race to see who can give away their money the fastest. Warren Buffet famously pledged to give away 99 percent of his fortune by the time he and his wife are gone, and the younger generations are following suit.

Twenty-nine-year-old Facebook founder Mark Zuckerberg and his wife Priscilla Chan gave away close to a billion dollars to nonprofits 2013 alone.

Why are they doing it? It’s not out of guilt. They have figured out that the laws of our land require philanthropy and even provide incentives for doing it. Giving can be given voluntary or involuntary.

The laws of this land require you to make a choice. You can proactively choose and its voluntary. Delay or never decide to choose and its involuntary.

The problem is most never get-around to choosing!

In what ways will you choose to give and why? Warren Buffet gave his motivation:

“I don’t have a problem with guilt about money. The way I see it is that my money represents an enormous number of claim checks society. It’s like I have these little pieces of paper that I can turn into consumption. If I wanted to, I could hire 10,000 people to do nothing but paint my picture every day for the rest of my life. And the GDP would go up. But the utility of the product would be zilch, and I would be keeping those 10,000 people from doing AIDS research, or teaching, or nursing. I don’t use very many of those claim checks. There’s nothing material I want very much. And I’m going to give virtually all of those claim checks to charity when my wife and I die.”

Will you be a voluntary or involuntary philanthropist? If you don’t decide to give while you’re alive, the government becomes your primary beneficiary after your death through mandatory taxes – on your estate and even retirement money. One way or another, you will be charitable.

You have a choice. So the question is this: If you knew you could give without detriment on your lifestyle or your children’s inheritance, how would you choose to give?

Wealth is more than money. Don’t just plan for your future, live it right now.

Pass it on and share the insights like this that you find valuable.
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Take Advantage of our FREE Special Briefing…

“Income & Estate Tax Reduction: The 5 Simple Strategies To Use Today To Pay Less Income and Estate Taxes and Have More Money To Spend In Retirement”

You may be thinking you’ve done all you can to have as much money as possible and know you, your family and your money are protected… at this special briefing we’ll reveal the biggest mistake even smart retirees make and how you can avoid them.

Seats are already going fast… Your Choice on Thursday, November 6: 11:30 am or 5:00 pm.

Click Here To Access This Valuable Information
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“The sole purpose of being rich is to give away money.”
– Andrew Carnegie

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Generosity for All Income Levels

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Volunteer | Boomfish Wealth Group, LLCWhether you’re a millionaire or someone living with much less, you can afford to give.

So many people, with wealth and without, want to give but are not sure how to go about it. They want to be generous but worry that being overly generous with others will leave less for their own family.

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6 Financial New Year’s Resolutions to Make

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Financial Resolutions | Boomfish Wealth Group, LLCIt’s that time again: the start of the new year. This means that many of us will be making new year’s resolutions—whether it’s eating healthier, staying in touch with friends and family, or quitting smoking.

You’ve probably made a few of these resolutions. But have you thought about your financial new year’s resolutions? [Read more…]

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