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

Bo Knows

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My father used to fix everything with a coat hanger and duct tape… at least he tried.  Then after hours of frustration he would call upon a friend to help him fix the problem with the same resources.  Only after tons of lost hours and money did he call in a true professional.By observation I learned to discover and stick with what I’m really good at and hire others who are really good at what I’m not good at doing.

In professional sports can you name a professional athlete who has been successful as a professional in two sports? The first person who comes to my mind is Bo Jackson, superstar pro football and baseball player. After Bo, ‘who knows’?

Now, name a professional athlete who failed to excel as a pro in two sports. The most obvious choice is one of the greatest athletes of all time, Michael Jordan. Basketball was his gift, and it was magical to watch him on the court. But when it came to applying his competitive advantage and skill to baseball, it just didn’t work out as well.

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Gather Ye Rosebuds

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You may remember the movie Dead Poet’s Society, starring the late, great Robin Williams. Williams played English teacher John Keating, and in perhaps the most famous scene, Keating makes an impassioned plea to his class. As he asks the prep school boys to look at a worn, black-and-white photo of men who died many years before them, he says these words:

They’re not that different from you, are they? They believe they’re destined for great things… just like you. Did they wait until it was too late to make from their lives even one iota of what they were capable? Because, you see gentlemen, these boys are now fertilizing daffodils. But if you listen real close, you can hear them whisper their legacy to you… Carpe diem, seize the day boys, make your lives extraordinary.”Robin Williams

A few years ago, a close friend received the horrifying news that his cancer was too aggressive, and that his days were numbered. My friend, who was also a father of two young children, passed away shortly afterwards at only 40 years old. He knew his days were limited, but they were even fewer than he had been told.

All our days are limited, but too many of us need a medical diagnosis to accept that reality. You can learn to live with a sense of destiny and purpose. That way, whether the end is soon or a decade away, you’ll be ready. Live by taking action now.

As Keating said to his class, Carpe Diem. Seize the day.

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.

Find out about the latest advantages of voluntary philanthropy at our next special briefing.

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This One Thing You Must Do

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Boomfish Wealth GroupMy wife and kids will tell you its been a long time since we set aside time for a family vacation… and now the time is finally here.  As you read this email I am successfully unplugged and fully present with my family talking to Mickey, Goofy and the gang!
Disney is filled with so much opportunity that if you want to see the stuff you love, have the memorable experiences you hoped for and take in the best of the moments that can slip by too fast you MUST plan ahead.  Otherwise you miss stuff… the stuff memories are made of that make the investment and the time away worth it all.
Whether at Disney, or in your personal life, or with your wealth, if you “fail to plan, you plan to fail.”
If you “fail to plan” when it comes to your wealth, you aren’t the only one who pays the price. It affects you, your family, their families, and countless others who could benefit from your planned stewardship.
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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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How Much Is Enough… For You?

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Norman Rockwell is one of the painters I had around my house growing up.  The one pictured here is one of his most famous, “Freedom from Want” and depicts a family having all they need.  What strikes me most is that the setting isn’t elaborate. It’s simple, relational, and cheerful.

The ideals this image conveys sets the stage for three critical lifestyle and legacy questions.  These three questions when answered shape what your Norman Rockwell “Freedom from Want” looks like for you.

The first question is: How Much Is Enough for Me?  In other words, how much money do I need to keep for my spouse and me in order to maintain our desired lifestyle?

That may seem like an overly simple question when we are taught that we can have just about anything in this world we want.  For many of you reading this there probably aren’t many things you truly want and don’t have.  If that’s true, that makes this question even more crucial.

When it comes to answering the question, it is probably less than you think.  Most likely, the answer for you is somewhere between the two extremes of never having enough and giving away everything.

Right now, write down an amount of money that you think matches the lifestyle you feel is appropriate for you to live.  To consciously quantify the amount creates the opportunity to do serious planning that accomplishes your heart’s deepest desires in life.

Now take this to the next level by discussing this amount with your spouse.  Did the two numbers match up?  And what did you learn from the conversation that resulted?  Send me a note to let me know what you discovered, [email protected].

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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FREE Retirement Special Briefing…

Income & Estate Tax Reduction

Could you live well and as planned with a 50% cut in retirement income?

Just when you think you’ve done all you can do to position your money to benefit you and your family to fulfill your lifelong vision… there is something new that comes along that changes everything.

Thursday, January 29 at 11:30 a.m. or 5:00 p.m.  Seats are FREE but limited.

Click Here To Access This Valuable Information

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“I try to give to the poor people for love what the rich could get for money.  No, wouldn’t touch a leper for a thousand pounds; yet I willingly cure him for the love of God.”

– Mother Teresa

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Are You Making This Mistake?

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Peter Buffett, the son of Warren Buffett, didn’t become a big-time investor following in his father’s footsteps.  He’s actually a musician and once said, “The silver spoon in the mouth too often become the silver dagger in the back – an ill-considered gift that saps ambition and drains motivation, that deprives a young person of the greatest adventure of finding his or her own way.

The most important gifts of all had nothing to do with money.  These were the gifts of parental love and close community and warm friendship, of inspiring teachers and mentors who took delight in our development.  There were the mysterious gifts of talent and competence, capacity for empathy and hard work.  These gifts were meant to be respected and repaid.”

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My NASCAR Experience

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I recently had the opportunity to ride in and then drive a real NASCAR race car at the Atlanta Motor Speedway.  For the first five laps around the track, I was a passenger with a seasoned race driver.  Being from Detroit, I grew up around cars and fairly comfortable with speed, but this experience was more gripping and thrilling than I imagined.

As we entered each turn, I stiffened.  At speeds up to 150 miles an hour, the car came within inches of hitting the outside wall.  The professional driver just smiled at how impressed I was with what the care could do.

Then it was my turn as the professional driver now sat next to me.  I didn’t drive anywhere near his speed, but in my head was the potential of what I could do.

I share this account to say: The tools for creating a zero-estate tax plan, reducing capital gains, eliminating taxes on retirement money, and even lessening your income taxes, are available.  You don’t have to use any of them.  You can simply get around the track, as I did when I was driving, without maximizing the potential of the engine – your retirement wealth engine.

But is simply getting around track good enough for you?

As we begin this new year, if you want the most benefits, you need a professional.  You do that in much the same way the professional driver showed me how to drive the race car, although I couldn’t do it nearly as well as he could.  Click Here to learn more.

Make 2015 be the year that you find the professional you need to get the most out of this one and only ride you have to make your money count and create the life you’ve always dreamed!

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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FREE Special Briefing…

Income & Estate Tax Reduction

Just when you think you’ve done all you can do to position your money to benefit you and your realization of your lifelong vision… there is something new that comes along that changes everything.

Thursday, January 29 at 11:30 a.m. or 5:00 p.m.  Seats are FREE but limited.

Click Here To Access This Valuable Information

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“I have a lot to learn about NASCAR.  But I’ve learned if you have the right people in the right places doing the right things, you can be successful at whatever you do.”

– Roger Staubach

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The BETTER Way To Learn

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I love watching my eight-year-old and five-year-old play on the play ground.  They run and storm across the jungle gym with little regard for the downside of making a mistake.  When they fall, it hurts – them and me.

They do learn how to approach the challenge differently the next time.

Some say that experience is the best teacher.  Certainly there are certain lessons in life that can only be learned by personal experience.

However, the better teacher is the experience of other people.

This is never more true than when it comes to getting wealth preservation right.

This is one area of life where there are no second chances, and learning from personal experience can lead to too little time to overcome the “bumps of bruises” of falling short.

Unfortunately for my father, and our family, personal experience became our teacher in this critical area of life.  But our experience is NOW the teacher for many families with success who care deeply about getting things right for their family and legacy – far beyond the money.

What is the one thing that could happen to your family and legacy as a results of having wealth that if it did happen, would lead you to have regret?

Go ahead, think it. Now write it down.

Share it with a spouse, a friend, a confidant.  Share it with me.

Send me an email, [email protected].

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 DAY To Order for Christmas Deliver:

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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“If you fail to plan, you plan to fail.”

– Benjamin Franklin

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The One Time It’s Okay to “Give Up”

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Harold Turner held tightly to his business right up to the end. He was afraid to give up any ownership of the thing he’d worked his entire life to build.  When he passed away, the business became a windfall for his oldest daughter, Sally, when she took over both ownership and control.

She didn’t understand how to operate the business or why he did things the way he did (even though she had been working in the business for a number of years)… and it took only three years for the business to no longer exist.

The wise thing to do is to pass on the ownership without giving up control.

There are proven planning tools and techniques that allow you to transfer ownership, and yet retain control as long as you need or want it for your lifestyle and income.  In doing that, you’re also able to train the next generation to be owners in the process.  As you give, they learn.

Giving slowly to the heirs tests their character and ability, and demonstrates your confidence in them.  If the heirs manage the business and themselves well, add to it.

Transferring ownership sooner than later can open up a world of opportunity for you and your heirs. It’s beneficial in helping to eliminate estate taxes and reduce capital gains and income taxes.  Even more beneficial is the potential of what can happen in the relationships you care about most.

Take control of your wealth by making necessary decisions now.  Transfer ownership, but maintain control and accomplish more than you dreamed possible.

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… at this special briefing we’ll reveal the biggest mistake even smart retirees make and how you can avoid them.

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“If everything seems under control, you’re just not going fast enough.”

– Mario Andretti

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The Economy You Control

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In these volatile, uncertain times, there doesn’t seem to be much left for which we have much control.  There are aspects we can’t control such as the attitudes and behaviors of others.  On the other hand, we can control our attitude and how we respond to the events around us.

When it comes to your personal wealth you have more control than you might think.  Control IS first a choice.

You’ll hear the media go on and on about all you can’t control saying, “Oh the economy,” or “If not for the politicians.”

But that is The World at large and Your World – your Personal Economy – can be what you choose it.

Control, in its most positive sense, results from understanding and using programs, solutions and strategies that fit your DESIRES and NEEDS.  Yes, it starts with YOU knowing what YOU want.

If YOU decide what YOU want YOU are on the course to more control and can design the future you DESIRE.  This diminishes the effect of The World at large has on you and results in greater peace of mind and personal freedom.

Do you KNOW what YOU want?  That is the first most critical step.

Start with answering this question: What are THREE things I’d do with my wealth if I knew I could that would not only give me great pleasure, but if I don’t do them would result in great regret?

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… at this special briefing we’ll reveal the biggest mistake even smart retirees make and how you can avoid them.

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“O, it is excellent to have a giant’s strength, but it is tyrannous to use it like a giant.”

– William Shakespeare

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