“Life is 10% what happens to us and 90% how we react to it.”

– Dennis P. Kimbro

How was Father’s Day around your house? Did Dad feel special? Well, I’ve got some advice from MY Dad here, in a moment–but before I get there, a couple things:

First, thanks for your comments from last week. We are, frankly, honored by our clients. One of the best parts about what we do around here is that we get to speak encouragement into families and business owners who are scared. Losing a job, sales way down–I’ve seen people literally trembling with fear.

In the beginning, I like to simply listen. And understand. This economy has a lot of people scrambling, but my clients aren’t “alone” in this fight.

Because then … I get to remind them that almost EVERY successful business person has “been there”, and that they WILL recover. It can all sound like empty boilerplate–but it’s the cold truth. Donald Trump, Mark Twain, Walt Disney, Larry King…the list is diverse and long of famous business and cultural icons who filed for bankruptcy at some point.

If you’re going through rough times, know that you’re not alone.

That said–we’ve also got plenty of clients who are THRIVING in this environment, and, if that’s you–don’t be complacent about your gains!

Well, as I mentioned above, Father’s Day got me thinking about my Dad. A while back, when I was first starting out in life, he gave me some advice (I know, advice from Dad–what a surprise). But since I spend a lot of time talking about finances here, I thought I’d pass along his advice.

I think you’ll find it useful. Read on…

“Real World” Personal Strategy

Advice From My Dad

My Dad said a lot over the years, giving me some valuable lessons.

I’m attempting here to summarize his thoughts…so call this a paraphrase of Dad’s Life Wisdom:

* The bank is not your financial security. The best credit line available is the one attached to your emergency savings fund. Remember, the borrower is slave to the lender, and you don’t want to be a slave to big banks. Take my word for it!

* Don’t depend on government for making your life easy. In an emergency, don’t be too proud to accept help, but do not make it a way of life.

* You can’t depend on schools to provide your full education. You must self-educate beyond the lessons taught in school. Challenge your educators, and challenge your own thoughts. Read books. Read books contrary to your own opinion, so that you may learn another point of view. Read books on subjects you don’t think you care about and you just may discover your passion.

* Getting rich rarely comes quickly. Building wealth takes time, and a lot of hard work. If you want to be successful in anything, you must work at it for hours every day – sometimes late into the night, and early in the morning. If you are happy with mediocrity, punch the clock after 8 hours, plop down in front of a television and waste valuable time until you fall asleep. Repeat this process until the weekends when you can do even more of the same.

* Be skeptical. Don’t believe anything you read, most things you hear, and even a few things you see with your own eyes. Question everything. Nothing in life is black and white.

And, while we’re on the subject of Dads, let me leave you with one final gift:


Finish the race.

With that, I’ll leave you until next week.

I’m personally dedicated to the success of your family–and to your finances! Can other tax professionals say that?