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What Does Aretha Franklin, Prince, and Abraham Lincoln All Have in Common?

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What Does Aretha Franklin, Prince, and Abraham Lincoln All Have in Common?

Another Famous Celebrity Dies Without a Will

When legendary singer Aretha Franklin died of advanced pancreatic cancer at age 76, she did not have a will or trust, according to documents filed in Oakland County Probate Court. And now the $80 million estate of the intensely private Queen of Soul is about to become very public – and possibly very taxing for her heirs.

"The decedent died intestate and after exercising reasonable diligence, I am unaware of any unrevoked testamentary instrument relating to property located in this state as defined under the law,” the form reads.

Aretha’s lawyer of nearly 30 years told the Detroit Free Press that he was constantly asking her to do a trust, but she just never got around to doing it.

"I was after her for a number of years to do a trust," Los Angeles attorney Don Wilson told the Detroit Free Press. "It would have expedited things and kept them out of probate and kept things private."

Wills Are for Everyone

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5 Principles That Will Sharpen Your Skills as an Investor

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5 Principles That Will Sharpen Your Skills as an Investor

Have you ever embarked on a home improvement project? …One perhaps that you are confident in completing, but unfamiliar with the details. A “how to” clip is usually available on YouTube, but there isn’t a practical way to reach out with follow-up questions. What you may need is guidance from a caring individual.

This is where your local home improvement store comes into play. I usually have good luck with Home Depot. The employees not only know their craft exceedingly well but are excited to share their ideas.  I'm always impressed with the greeter at our local store who welcomes guests and can direct them to the exact aisle of the item(s) that they're there to purchase. You can see it in their body language and the sparkle in their eyes when they explain the nuances of a project. Plus, they are happy to share any problems you might encounter and how to sidestep pitfalls.

They are, in one word, educators. What they have taught me and what I’ve learned through various projects in life is a fairly simple concept: “Experience isn’t the best teacher–someone else’s experience is.”

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How to Save Money Fast

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How to Save Money Fast

Check out the recent article from GoBankingRates.com on June 4, 2018 written by Gabrielle Olya where we were quoted on How to Save Money Fast: 3 Ways to Save $1K in a Month

To save money fast, start by challenging yourself to save $1,000 in a month. Shifting your focus to saving for a 30-day period can help you make saving an everyday priority, and can set you on the right track to build up a healthy emergency fund or retirement nest egg.

Here are three ways to save money quickly.

In order to save money fast, you’ll need to follow three basic rules. Here are the three ways you can save $1,000 in a month:

Index Funds, Mutual Funds, & ETF's

Index Funds, Mutual Funds, & ETF's

There is a common misconception that mutual funds, index funds and ETFs are all the same type of investment vehicles. And while there are similarities, there are also some significant differences for investors to know about. Let’s explore.

Active vs. Passive

Investors can select from two main investment strategies: active and passive portfolio management. Active portfolio management is exactly how it sounds: the portfolio manager(s) focuses on outperforming an index by “actively” making buy/sell decisions, adjusting asset allocation ranges and employing other portfolio management techniques.

Passive portfolio management on the other hand simply aims to replicate an index – not to outperform and not to underperform – but rather replicate. Therefore, there is no portfolio manager making buy/sell decisions.

Mutual funds are either active or passive – if passive, then they are called index funds. ETFs can also be considered either passive or active.

"Sell in May and Go Away?"

"Sell in May and Go Away?"

One of the oldest stock market strategies is to “Sell in May and Go Away.” But what does this phrase mean?  Is there any supporting reason for selling stocks in May and leaving the market?  What are the risks?

The Strategy

“Sell in May and go away” is a well-known trading adage that counsels investors to sell their stocks in May to avoid a seasonal decline in the stock market.  An investor selling his or her stocks in May would then buy stocks again in November because the November through April period shows significantly stronger growth in the market than the other half of the year.  However, this seasonal strategy flies in the face of the buy-and-hold strategy of investors like Warren Buffett, the wildly successful “Oracle of Omaha.”