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Brought
to you by:
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| McCormick Klessig & Associates
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About Our Firm:
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McCormick-Klessig & Assoc., Ltd. provides individuals, families, small and medium sized businesses with complete coverage of personal and business risks in all product lines: Commercial Personal Life Accidental and Health ( including group products).
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| QUOTES from
the
Masters... |
| On Personal Development |
On Personal Responsibility |
| "Pity
the man who inherits a million dollars and who isn't a millionaire.
Here's
what would be pitiful: If your income grew and you didn't." -- Jim
Rohn
"Dedicate
yourself to continuous personal improvement -- you are your most
precious
resource." -– Brian
Tracy
"No
one limits your growth but you. If you want to earn more, learn
more.
That means you'll work harder for a while; that means you'll work
longer
for a while. But you'll be paid for your extra effort with
enhanced
earnings down the road." -– Tom Hopkins
"Read
books, listen to tapes, attend seminars – they are decades of
wisdom reduced
to invaluable hours." -– Mark Victor
Hansen
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"If
you're proactive, you don't have to wait for circumstances or other
people
to create perspective expanding experiences. You can consciously create
your own." -- Stephen R. Covey
"Don't
become a victim of yourself. Forget about the thief waiting in
the
alley; what about the thief in your mind?" -- Jim
Rohn
"Self-responsibility
is the core quality of the fully mature, fully functioning,
self-actualizing
individual." -– Brian
Tracy
"The
highest manifestation of life consists in this: that a being governs
its
own actions. A thing which is always subject to the direction of
another
is somewhat of a dead thing." -- St.
Thomas Aquinas
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You
may be interested
in what the public probate records of the estates of businessmen,
attorneys,
entertainers, accountants and even a President have to show.
| Name |
Gross
Estate
|
Net
Estate
|
Percent
Shrinkage
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| Franklin D.
Roosevelt |
$
1,940,999
|
$
1,366,132
|
30%
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| Henry J. Kaiser,
Sr. |
$
5,597,772
|
$
3,109,408
|
44%
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| Edwin C. Ernst, CPA |
$
12,642,431
|
$
5,518,319
|
56%
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| Robert S. Kerr (U.S.
Senator) |
$
20,800,000
|
$11,300,000
|
46%
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| A.H. Wiggin (Chairman,
Chase Bank) |
$
20,493,999
|
$
5,646,666
|
72%
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| William E. Boeing |
$
22,386,158
|
$11,796,410
|
47%
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| Rick Nelson |
$
744,357
|
$
506,636
|
32%
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| Elvis Presley |
$
10,165,434
|
$
2,790,799
|
73%
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| Rock Hudson |
$
8,600,000
|
$
3,926,288
|
54%
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| James S. Kemper (Insurance
Executive) |
$
10,948,356
|
$
7,007,560
|
36%
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| Nelson A.
Rockefeller |
$
79,249,475
|
$56,727,628
|
28%
|
| Conrad Hilton |
$199,070,700
|
$93,288,483
|
53%
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| Source:
Public Probate Records |
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If these people,
who had access to the best advice money could buy, were not able to
avoid
the "unwanted heirs"
(federal and state estate taxes and estate administrative costs), it
will
be difficult for the rest of us to avoid estate settlement costs.
Proper advance
planning, however, can minimize the impact of estate settlement costs
on
the value of your estate.
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| MESSAGES
from
the Masters... |
CLEAN
OUT THE CLOSETS OF YOUR LIFE by Patricia Fripp, CSP, CPAE
Clean
out the closets of your life. Have you ever looked at the clothes in
your
closet with a critical eye: the bargain shoes in the wrong color; the
expensive
suit you got on sale that never fit; the "great" shirt that was a gift
from someone you love?
I
had
all of those items in my closet. Then a wardrobe consultant friend came
over and made me clean out the clothes that didn't fit or that no
longer
represented my self-image. It was an exhilarating feeling. Now the
clothes
I wear make me feel and look great, and project the image I like.
Your
clothes closet isn't the only hiding place for negative things in your
life. You have a self-image closet too. Take a serious look at what you
find there. Try cleaning it out. Throw out ideas that no longer fit
your
lifestyle or your experiences.
Clean
your closet of certain old friends as well -- the ones who have become
acquaintances. Too often we spend our energies with people whose
interests
have grown apart from ours.
Clean
the negative people out of your life's closet. Some folks cannot accept
your achievements, insisting it's only a "fluke" when you finally
attain
a great goal. Their own insecurities require them to shoot other people
down. It is time to let them know you are proud of your achievements,
and
then move on to someone who will support you in your endeavors.
Closets
may be hiding places for our outmoded clothes and ideas, but they are
also
where we store the building blocks for our daily lives. Don't let them
get cluttered with outdated ideas.
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office. Thanks!
The purpose
of this newsletter
is to provide information of general interest to our clients, potential
clients and other professionals. The information provided is
general
in nature and should not be considered complete information on any
product
or concept described. For more complete information, please
contact
my office at the phone number above.
Quest Capital Stratagies
25231 Paseo de Alicia, Suite 110
Laguana Hills, CA 92653-4615
(800) 527-9989
Member FINRA and SIPC FINRA is located at www.finra.org.
SIPC is located at www.sipc.org.
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