This is Gerry Friesen. He and I were partners on the publishing business we sold in 1997. Gerry aggressively retired and became the “Mr. Yes Man.”
“Gerry, want to play golf today?”
“Yes.”
“Gerry, want to go biking to Alaska today?”
“Yes.”
Gerry went traveling. I stayed home and studied happiness and investing.
This morning, Gerry sent me this wonderful photo. He wrote, “With the right background, I look good….“
Gerry is teaching me how to become the “Mr. Yes Man.”
Key is to remove from your life those things you have little control over.
There is no investment strategy you can put “on eternity hold” and bike to Alaska for the summer. But there are elements:
1. Bonds. I like muni bonds because of the horrid taxes in New York.
2. Bond funds. They use a little leverage to juice the returns.
3. High yielders like NLY, ANH and AGNC. Testimony: they’ve held up really well in recent days, compared with “high-flyers” like Google.
4. Cash in bank CDs. You won’t get rich. But you will have peace of mind.
Profitable business. The estate tax is coming back with vengeance. It will probably be 55% next year. To avoid paying their share, rich people buy life insurance. $120,000 a year will give their estate $10 million when they and their wive die. The first two years of premium are almost all commission to the agent selling the policy.
You don’t have to sell too many policies each year to make a seriously handsome living.
Nice scanner. Michael is getting married next weekend. I have to scan baby pictures for a wedding “slide show.”After researching extensively, I bought this fabulous $99 Epson scanner on-line from Best Buy.
It also does PDFs and slides. Click here.
Harry Newton,who envied Gerry his Harleys, so Harry bought a $1,600 “Chinese Vespa.” He managed 287 miles before the mice got it, built their home-sweet-home in it. $400 later, the nest is gone and the scooter works again. 55 MPH downhill and 35 MPH uphill. The gas mileage is to die for.
Harry, in all your down time since you sold your business, you should have gotten your insurance license. That way you could sell yourself the life insurance policies and make the comission yourself. Plan, plan, plan…..
Harry,
That type of beauty in the background that “makes Gerry look good” can only be found in Colorado. Was the picture taken in Colorado?
On life insurance you need an honest broker, some are really bad. They say something in person, and they don't put it in writing otherwise they will be sued. Proper estate management, where you gradually move your assets to a trust and foundation can limit your tax bill to nothing if done properly. The life insurance is an added benefit.