Archive for November, 2009

A couple weeks ago, I wrote how  Katherine Jackson had a surprising “change of heart” by dropping her challenge to the executors for Michael’s estate.  In fact, her husband Joe Jackson was shocked — his lawyer called the move “despicable”.  Well, if this exclusive report from the United Kingdom website News of the World is accurate, we now know why Katherine did so. According to this report (which has been picked up by MSN Entertainment along with other websites), Katherine made the deal because the executors, John Branca and John McClain, had agreed to add a trusted family member as a third executor.  And, even better, this new executor would have veto power over decisions of Branca and McClain.  So who is the trusted family member?  Taj — Tariano Adaryll Jackson, Michael’s 36-year old nephew and Tito Jackson’s son.  He is reportedly very close to Michael’s children and mother, and was Michael’s favorite nephew.  He’ll be able to give the family a voice

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New Michael Jackson Estate Deal Reported

Ladies, it’s time to put ourselves on the list.  With everyone pulling us in every direction and all wanting a part of us, it’s so easy to keep moving our own needs down to the bottom of the list, but let’s think again.   

Recent Trip to Brazil

A few years ago, I was told that I needed both knees replaced.  The doctors wouldn’t do the surgery until I was older (after 50) and quite frankly, I am putting it off as long as possible.  In fact, I hope to avoid it.  I tend to be a workaholic, because I love what I do.  The problem I run into, is that I can put self care on the back burner and that’s probably part of the knee problem.  

When I turned 50, I realize that unless I take action now, having lots of money and poor health is a terrible scenario.  Besides, my husband is five years younger than I am and when he retires, we have plans for lots of travel and golf. 

Over the last two months, I have implented three new smart choices in my life and I’d like to share them with you.  My goal is to lose weight, feel more focused and calm today…and then ensure a more vibrant lifestyle later in my life with Mark.

• I joined a yoga class and am attending classes about three times a week.  I notice that I feel much calmer, more focused and feel lighter on my feet.
• I have created a bedtime ritual(inspired by Contributing Expert, Marci Shimoff’s 10:30 Angel Train) where I journal before bed to clear my mind, listen to music, read and stay away from the TV and computer after 9 pm at night.  I am sleeping so much better and waking up a lot earlier.
• I am drinking lots of filtered water with lemon during the day.  Here is the formula for how much water you should drink:  weight divided by two and add a zero.  TIP:  If you weigh 150#, then you want to drink 70 oz of water daily!  Many times when we feel hungry, it could just be dehydration. 

When we get ready to retire some day, having all the money in the world won’t mean a thing if we don’t have our health, right?  By taking these three simple actions, I find I am more affective at work, and happier and more active at home with my family at night.  Plus the yoga class is amazing…my goal is to go five times week. 

What steps are you taking today to live happy, wealthy and healthy?  I’d like to know!  Thanks!

Watch Andrew and Danielle’s interview with Forbes’ John Dobosz! Hear first hand from the authors what happened to the affairs of Jimi Hendrix, Steve McNair, Michael Jackson, Heath Ledger, and Sonny Bono.

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Forbes Interviews Andrew and Danielle!

My husband, Mark and me at our home in Panama

What are you doing to create your millionaire lifestyle? Well, if your goal is not a millionaire lifestyle, what about a million dollar investment portfolio?

Do you know that having $1 million in the bank at age 65 will only generate about $770 per week? That’s right, because that’s all you’ll be able to pull out if you want to ensure that your nest egg lasts for at least 30 years. This doesn’t sound much like a millionaire lifestyle does it?

If you are 50 years old and want to have $1 million saved by the time you are 65, you would need to save about $35,000 per year and earn 10% a year too! The story’s not that bad if your 40…about $10,000 a year at 10%. Even if you can save the money, who is earning 10% consistently anymore?

What’s the solution? I believe creating livetime passive business income doing what you love. It can be something that you start now and develop over the next 10 years, or it could be something that you jump into right away full time. I was working as a financial planner back in 2003 when I came up with my perfect passive income model. My dream was to create a community and program where I could help women learn how to create smart life and financial choices with an army of smart women.

It’s funny how things evolve when you have a goal and a dream and you keep focusing on it. What happened next for me was that I began to sponsor events through my new company, Smart Women’s Coaching. Even though I still ran my financial planning practice full time, I began to focus energy and time on this new venture. I saw that there was a need for it and I began to create a community of support and advisors.

By 2007, I decided to retire and focus 100% of my time on Smart Women’s Coaching and two years later, today…we are launching a new online community called the Smart Women’s Cafe. It’s a membership site where women can learn, grow and connect and features live coaching, teleseminars, an online library, and an amazing team of Contributing Experts who co promote and create joint ventures.

It’s been a lot of work and I have learned so much. I had no idea how different creating a “start up” business would be versus my financial planning “franchise” with Ameriprise Financial. When I started with Ameriprise Financial (formerly American Express Financial Services, formerly IDS) over 20 years ago, I paid a fee and purchased a franchise. This meant everything I needed to run and market my business had been thought out, systematized and branded. All I needed was an office and a computer.

If you are thinking about starting a business — and many women are — then be sure to do your homework. There are several things you will want to do if you are starting from scratch. Watch for my future posts, as I share with you my Secrets for Creating Lifetime Passive Income while Following Your Passion.

If your are serious and would like to get started right away identifying your Perfect Business Model and Strategy, then visit the Smart Women’s Cafe and pick up The Way to Wealth, by Brian Tracy ($100 value) and your free video training on Twitter by Lou Bortone…then take a free 30 day test drive and get started right away!

Also, for free live teleclasses this week on creating a Millionaire Lifestyle, visit our Calendar of Events!

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Create Your Millionaire Lifestyle

The new book “Trial & Heirs: Famous Fortune Fights!” is now shipping! Loading Quotes…

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Now Available!

The 15% pre-sale discount will end on December 1st at midnight (eastern). Visit this page to get your discount code

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Shipping December 1st!

It’s been widely reported across various websites in the last couple days that Farrah Fawcett’s will has been revealed and it “shockingly” disinherited her longtime ex-boyfriend Ryan O’Neal (father to her son, Redmond).  These reports are wrong on several levels. First, the document was her Trust, not her will.  You can read it here , courtesy of Radaronline.com.  This is an important distinction.  Wills are public records and must always be filed in probate to be effective, which allows anyone interested to read them.  Trusts, on the other hand, are private documents, normally kept out of court and the public eye. As I wrote in this article this past July, the contents of Fawcett’s Trust were leaked by an anonymous “source” then, and now the whole trust document has been revealed.  This is unusual.  Normally that is one of the primary reasons why trusts are used, to keep affairs private (and out of probate court).

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Farrah Fawcett’s Trust provides a good lesson

Glenn E. “Bo” Schembechler, Jr., is one of the most respected names in the history of college football.  And, no, I’m not saying that just because I graduated from the University of Michigan (twice).  He built one of the most successful football programs around, and it excelled for decades. Coach Bo died of heart disease on November 17, 2006, at age 77.  He was survived by his second wife, Kathryn, his son, Glenn III, and two children of his beloved first wife, Millie, whom Bo had adopted (a third adopted son died before him).

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Bo Schembechler’s son sues his stepmom over trust

The Michael Jackson Estate has been the subject of regular court hearings as Katherine Jackson battled for control over the last several months.  She routinely objected to the decisions of the co-executors John Branca and John McClain.  Recently, she hired a new attorney with the promise of taking the case in a new direction, as I discussed in this recent article about the Michael Jackson case . Her case took a new direction, all right.  She decided to drop her claim.  That’s right, she stopped fighting and agreed to let the executors run the show without her. Surprised?  I was.  And I was far from the only one.  Here’s what a lawyer in the case said about Katherine Jackson’s change of heart, according to CNN: “She has now reneged on her obligation to her family.”  This same lawyer then said that it was “one of the most despicable displays” he’d ever seen in court.  He even accused Katherine of colluding with the estate executors in a “secret deal”

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Katherine Jackson’s shocking change of heart

As I described in this article from February 2009 , the trustees of the Leona Helmsley charitable trust asked the probate court in New York for permission to donate primarily to charities that helped people rather than dogs, despite some language in the trust that suggested she wanted her billions to benefits animal charities.  Specifically, the trust had a Mission Statement that included, as its first purpose “the provision of the care for dogs”.  But it also gave the trustees discretion to benefit charities as they saw fit.  This is a very important decisions for many charities (not to mention the people or animals they help) because we’re talking about several billion dollars.  This August, several different animal charities, including the Humane Society and American Society for Prevention of Cruelty to Animals, launched a legal challenge to the judge’s ruling to force the trustees to support animal charities.  Reportedly, the trustees so far have donated very little to help dogs. There was a big question whether these charities even had proper “standing” to bring this action (meaning whether or not they had the legal ability to challenge the judge’s ruling even though they were not named beneficiaries).  So far, their challenge has been allowed to proceed.

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Leona Helmsley charity battle rages on