TIP 1 Incentive Trusts
Providing cash incentives to promote good behavior is not a new idea. However, the concept is being utilized in more inventive ways on a personal level recently. This article elaborates on a couple of new programs where one might lose a cash incentive for not meeting a deadline. A person might opt-in to this contract on their own, and have the proceeds go to a charity of their choice based on the incentive they want to create. Another program, Healthywager.com, allows you to bet your own money against them to reach a weight loss goal, having your own money at risk as part of your incentive structure.
In the trust world, including cash incentives or conditions on trust distributions is also not a new concept. Rewards can be utilized to promote good behavior on a grander scale, from home ownership to the cessation of opioid use. If you are worried about how to create a lasting legacy for heirs, let us know. We would be pleased to share our expertise. Incentive Trusts
TIP 2 Inflation Concerns
Inflation concerns are rising, as we are accosted by higher costs in our daily lives. We need to protect our purchasing power. For younger people, the answer may lie in adding skills that place them in demand and allow for more earning power. For older people that need to rely on accumulated earlier earnings, one should consider what types of investments could help hedge against inflation so their saving’s purchasing power doesn’t erode.
TIP 3 Most Expensive Car Ever Sold
We’ve heard that used car prices are on the rise recently, but what about collectible car prices? They may be on the rise too, as this recent 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé sale by Sotheby’s auction house demonstrates. Not only did this car sell for a whopping 135 million euros, but that price exceeded the previous high by 90 million euros, meaning that the high-price record tripled overnight. They even created a fun video of the auction event.
According to the press release, the proceeds are being donated to create a “Mercedes-Benz Fund” that will provide educational and research scholarships in the areas of environmental science and decarbonization for young people.
TIP 4 Request For Referrals
Have you ever needed a service, but didn’t know where to start looking? You turn to google and find endless generic listings that don’t relate to your situation. You become fatigued, and put it off until another day, then another, then another. You tell your friends and family, and then one friend says, why don’t you try contacting these folks – I’ve had a good experience with them. That friend has just become your hero for the day, month, year, as long as you keep getting good service from that provider.
You could be that hero, and we could be that provider. We are excited for the opportunity to connect, introduce ourselves, and demonstrate the value we create. Regardless of their situation or how they decide to proceed, we’ll provide helpful information and ensure that they are glad they took the time to see us.