Delegated versus Directed - Oh, So That's Why Charlie.... - a podcast by Fixed Cost Financial

Show NotesBecause we missed a few days this week, this will be an extra episode of Connecting Dots. In this episode, I’ll chat with you about delegated and directed trusts. Moving from what a living trust and the related documents are for estate planning, briefly, we’ll explore the pancake-forced distribution of sudden wealth to stupid people who blow the value of your blood. Strong language and a challenging discussion as I speak about stupid parents who couldn’t save a nickel because everyone burns a hole in the pocket to get out. And we’ll chat about Commission Charlie who wants to be named as the legacy advisor to make crazy high commissions for doing, well, not much of anything. Let’s have coffee and chat, then let’s think about it.Ten people who won the lottery and blew it all1 - 6 NFL players go brokeSports Illustrated recently estimated that 80% of retired NFL players go broke in their first three years out of the League. How is this possible in a sport rolling in revenue with an average salary of almost $2 million a year? 5 Reasons Why 80% Of Retired NFL Players Go BrokeLousy and incompetent investment advice and conflicted financial planningSupporting the posseDivorce, divorce, divorce, divorce, child, child, child, child, child, child, child, child, oops, child, and well, another one.Short-term time horizonNo planning for a second career and a business lifestyleAn overwhelming number of studies and surveys show that the those who receive a life insurance death benefit will quickly blow the money.

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