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End of the Year Planning

Friday, November 26th, 2010

Not only my SRES Realtor clients, but also almost anybody that knows me and my business, know that what I “sell” to the masses is education and planning.  The education takes several forms including my series of monthly seminars that I also record and post to my website, daily blogs, and eblasts to my clients.  The planning aspect usually doesn’t have much activity until the end of the year.  This is that time and I encourage not only my clients and associates, but also their clients to take some time and do some planning.

I encourage people to plan in 3 areas: estate planning, net worth, and life transitions.

My clients know at the end of each year I send a 13 page spreadsheet estate planning package that I made up.  It is free and available to anyone that wants it. There are also commercial versions of this as well. This covers areas of Personal Information, Banking, Real Estate, Investments, Employment or Business, Medical, Insurance, and more.  It organizes and lists vital information.  This acts not only as a checklist for content, but organizes all the information that an administrator would need to settle your estate.  This should be revised periodically and that is why I send it out each year.  Please give it to your clients, explain the importance of organizing, and have them do it. 

With the problems our economy has recently gone through, one would be very prudent to monitor their own financial situation and reevaluate their own financial health.  A net worth statement is a starting place.  This can highlight your own planning for retirement, giving, and daily living.  Again, this should be done periodically.

Lastly, take a cold, hard look at your own life transitions.  I have a method for this that has one looking at life changing events, both planned and unplanned, happy and not so happy.  This forces one to confront their denial.  For example, 4 of the most life changing events we face are retirement, loss of a spouse, not being able to drive anymore, and the need to move.  The process can be painful, but confronting these issues can help later in life and allow people to face the reality of life.  Life coaches, psychiatrists and psychologists can help with this as well. 

I hope I have encouraged you to take some time and do something that will help you, your family, your clients and their families, and others near and dear to you.   Do it for love!