Every now and then when I go to make a trade for a client the mutual fund I recommended will be closed to new investors. This recently happened when I tried to make trades in an account we had just set up for a new client.
When I told him the fund I recommended was closed he asked the logical question: “How come?”
Why do good funds close to new investors? It seems counter-intuitive. Aren’t they in the business of taking in assets and managing money? Why would they turn down an opportunity for new business?
With 28 Olympic medals to his credit and an estimated net worth of over $55 million, Michael Phelps makes cashing in on your athletic talents look easy.
While an Olympic gold medal is a lot to ask for, many parents and student athletes set their sights on more reasonable goals like a Division I college sports scholarship or the coveted “full ride” that covers tuition, fees and other college expenses. Even a scholarship that covers partial tuition can net you $10,000 a year or more in benefits.
With money like that on the table, it’s no surprise that families want to cash in on their students’ athletic talents.
“Hup!”, “Hup!”, “Hup!”
When I was a kid “Coach Jackson” of the Bellevue Swim Club used to shout this mantra from the side of the pool as we swam our races. Hearing this chant was a reminder to hang in there, and draw on the skills and lessons we got from our training.
One of Coach Jackson’s great lessons was that the 3rd lap is always the hardest.
It didn’t matter if you were swimming a 100-yard race (which requires swimming 4 lengths of the pool) or something much longer. That third lap was always the most difficult.
If you own a computer, smart phone or other digital device, your estate plan may be in need of a serious update. Here’s why.
Minnehaha Falls, Minneapolis, MN
My daughter, Laura, and I recently went to Minnehaha Falls to take some pictures and enjoy one of Minneapolis’ most iconic landmarks.
It was an especially warm July day. After hiking for a couple hours we decided to take a break and grab a bite at the Sea Salt Eatery, the popular pavilion-style restaurant known for its great food and long lines.
After standing in line for some time, Laura mentioned that she wasn’t feeling well. I didn’t expect what happened next.