How Will Your Children Or Grandchildren Spend Their Inheritance?

Have you ever wondered:

How will your children spend their inheritance?

The thought has had to cross your mind before today.

In a minute or so we will get to the startling truth about what people do with their inheritance.

If you think hard, you really do have a good idea what your children would do, don't you?

After all, by watching your kids or your grand kids, you probably have a pretty good idea how they value money.

Are they like you, a frugal saver?

Or are they like your siblings, big spenders even when they don't have it?

If you are like me, you probably want your money to make their life easier in retirement. Especially since they most likely will NOT have a great retirement plan like you did.

I started this report after several conversations with friends of mine, all financial professionals. I asked them outright what they had planned and why?

I actually was not surprised at their candor with me. People like to talk about this subject, although usually with a negative undertone.

I was shocked however at how many of them took the simple shot gun approach to planning. In other words they just planned on leaving the money to their children and even though they know the money would not be spent wisely and they are making no other plans. When asked why, most replied it was too much trouble. This from financial professionals.

Those of them who had a plan, truly thought it out. In addition to planning in detail how and when the children would get the money, this group set up expensive trusts to make sure their wishes would be complied with. Why? Because, like the group that did nothing, this group also thought that their children would mis-manage the money. In effect, waste their parents hard earned money. To this group, this was not acceptable.

That simple fact is that parents, for the most part, feel that their children will not handle their inheritance well. The real difference between families is whether the parent cared or not.

Next there was that small group who had no children. They were as conflicted as the rest. If they left it to siblings or nieces and nephews, they felt it would not be spent wisely too. The other dilemma for them was what would happen if they left it to a charity. Would the money be used wisely? Or is the fact that charities administrators change regularly mean that their lump sum donations value to the charity would depend on who was there to administer it that particular day!

Not a comforting thought. Another non-comforting thought about charities is that for a single day only, youre a hero, after that youre very forgettable. Is this how you see yourself being remembered?

Recently a friend of mine told me how his father-in-law would pull out a video tape of the ceremony for his million dollar gift to a college and make his children watch this tape every Thanksgiving. It seems that that is the only way he could get anyone to care or even remember about his gift. Of course, his children didnt care for the yearly movie or the gift!

Back to children and siblings: If there one thing that you can depend on, its that each child of yours is as different as night and day.

It seems that in most families there is the golden child, who can do no wrong, and then there are the other children. The ones who, well let's just say, are wild cards.

With the golden child you could probably give them a million dollars and they would invest most of it for the future. With the not so golden children its: "let's party".

So what do you do? You could just hand it out and however it gets spent, Oh Well! You could go the route of expensive trusts and try to manage it from the grave. Or you could do half and half, a lump sum for the golden boy and simple trust for the not so golden boy. Of course that reminds me of the Tommy and Dickey Smothers bit where Tommy says "Mom always like you best!".

Lets take a look at the top ways inheritances are spent. But first the startling truth: Although its hard to determine this exactly but more than 85% of those who inherit any money have nothing left within 5 years.

Here are some of the top ways they spend it:

1. Purchase a car. Since most inheritances are not "fortunes" it's easy to justify taking what mom and dad left and spending on that dream car. Perhaps it's that 1969 Corvette that your 42 year old child still covets from their youth. You know the one that they'll buy that needs a little work to make it nice again and of course it never will get that extra work. Or how about your 18 year old grandchild that wants that nifty little two seater that just happens to cost $45,000 and would look terrific on campus in front of the dorm, if they can still afford to go to college. Since most inheritances are between $10,000 and $50,000, cars are the number one way to spend that free money you left.

2. Vacations. Same as cars, a good trip to the Islands is a great way to toast the parents!

3. Bigger homes. For the bigger inheritance, got to have a bigger home. After all the 1800 square feet that Mom and Dad raised the family in isn't good enough for Sally and Johnny. Got to keep up with the Joneses. Just visit any high-end development in America today. You'll see a new swing set in back yards of those 5000 square foot homes occupied by 30 somethings with their 2 brand new SUV's in the driveway next to the baby carriages! Ever wonder how someone so young can live so well?

4. College educations. Finally, some common sense. With college costs as high as they are, some smart parents will be putting Mom and Dads money to good use. (could this be the golden child?).

5. Start a business: Sounds like a good idea until you see how many businesses fail. Of course, if it's that lazy son-in-law who has not been too good at supporting your daughter, he may well talk your daughter into starting a business for him because the manager at the Ford plant just does not understand him.

So here we are back at the beginning again. How do you think your children will spend your money?

Can you say "they'll do just fine" or "they'll just throw it away". Do you care?

Do you need to make new plans for your money? Do you have any ideas what to do? Do you know the alternatives?

Should you sit down and sort through your personal situation with someone who can guide you through the alternatives?

Is this type of planning just too complicated and costly?

There are alternatives that don't cost you anything to set up and while you are alive you still have control of your money. In fact, I know of two annuity products that allow you to set up an account that will pay their inheritance out over a 10 to 25 year period and you dont need a fancy expensive lawyer to set it up or to administer it.

If you feel that you need some help, then call your financial advisor or your attorney. Their a great place to start.

Unrequited Love - Women Who Love Serial Killers and Men on Death Row

January of 2003, a waitress in Germany named Dagmar Polzin saw the picture of a convicted murderer while waiting at a bus stop in Hamburg. The photo was of Bobby Lee Harris, posted by an anti-death penalty group. Bobby Lee of North Carolina was on death row for stabbing his boss to death during a robbery. Polzin was profoundly influenced by the photo of Bobby Lee and fell in love that moment.

Later she said: "It was something in his eyes; there was this remorse, the sadness. I was attracted and knew he was the one." In less than a year Polzin and Harris was engaged and she moved to North Carolina to live with his family. For many who read these words this story is astonishing; but if you saw the picture that Polzin fell in love with it would difficult to understand. Harris may be very charming with qualities of a good husband; but he is no leading man. Right now there are more than one hundred British and German women engaged or married to men on death row in the United States. The desire to love men convicted of murder is not limited to European women alone

Prison romance between Polzin is not an isolated incident. it doesn't matter how extreme or appalling the crime with which the individual is convicted of, there is always a woman willing to stand by her man. The marriage vows "until death do us part" takes on a new and unique meaning when your spouse has a date with the executioner. Yes, it is very difficult for the average person to understand why so many well-educated, intelligent women are drawn to men convicted or murder and sentenced to death or to spend the rest of their lives behind bars.

For example, Scott Peterson recently convicted and sentenced to death for murdering his pregnant wife Laci. It was reported by officials at San Quentin Prison that in just a few hours after Peterson arrived on death row he received a proposal from a woman who wanted to be the next Ms. Peterson. And according to the warden his office received more than three dozen phone calls on Peterson's first day at San Quentin from women pleading for his mailing address.

Several studies have shown that there is no shortage of women who dream of finding a husband on death row and the deadliest criminals get the most proposals. Take Richard Ramirez, the night starker, he murdered at least 14 individuals, robbed, raped, and beaten many more than that. During his trial he declared "hails Satan" and was considered the embodiment of pure evil. Still, dozens of women flocked to his side after he was arrested. And long lines formed outside the prison; letters arrived by the box filled. After courting several women from behind bars he married 40 year old Doreen Lioy, a freelance magazine editor, in 1996.

John Wayne Gacy, for instance, this guy, a convicted murderer, rapist who murdered thirty-three young boys; even he received many love letters from women. And I understand there's a book published with a collection of letters that women sent to him; basically throw themselves at him seeking a relationship with him. John Wayne did have a relationship with a woman who was delusional and in denial who did not believe that he had committed the murders he was convicted of even though he was on death row about to be executed.

Carol Ann Boone moved from Washington State to Florida to be near Ted Bundy, who was convicted of killing over thirty women across the country. Boone and Bundy got married in 1980 and had one child. However, when she became convinced that Bundy was guilty of his crimes she moved away with their child.

These are just a few instances where women go to the extreme to love men, convicted of murder, on death row. Expert, in the field, say that many of these women do not believe that these serial killers are capable of committing the crimes which they are convicted. Expert like Shelia Isenberg says these women are in denial.

Shelia Isenberg the author of, Women Who Love Men Who Kill, did an in dept psychological analysis of women who are drawn to men who had committed violent acts. During her research Isenberg interviewed many of the women themselves, as well as psychologists, social workers, and prison authorities.

From Isenberg's research it's clear that these women are not all outcasts of society, uneducated ghetto residents, or trailer tramps. These women are teachers, nurses, social workers, waitresses, office workers, and housewives. Isenberg stated that many of the women have been victims of abuse and violence themselves. And there are those who know exactly what type of relationship they are getting into; but their capacity for denial, and the overwhelming desire for a safe, idealized, romantic fantasy of love eclipses their better judgment.

Isenberg went on to say that; "this phenomenon involve a complicated series of reasons. The first reason is that if you are in a relationship with a man behind bars for life or a man on death row, then you have a lot of control over the relationship. You can decide when to make the visit, when to accept the phone call, or if you will accept the call, and you are that man's primary link with the outside world. So as you can clearly see it's a very powerful position to be in."

In addition to power and control, women in relationship with men behind bars receive nearly absolute attention from the inmate; with little or no distraction or serious competition. Men in prison have hours of free time to study the women they are involved. These men study the women's vulnerability and personality traits and use this knowledge to manipulate the women to meet their immediate needs and desires. After all, serial killers and murderers were predators in the real world. Why would anyone think that they would change in prison?

Isenberg points out that; "when you have a man with notoriety, like a serial killer, like Ted Bundy, or Richard Ramirez, or the Melendez brothers, or someone like Scott Peterson, there is a different element. Then the women are also attracted to the notoriety and the fame, and this is her 15 minutes of fame."

Final thoughts; the psychopath

There are many theories and speculations why certain women gravitate to men convicted of murder. Some experts say that these women are mentally-retarded. Why would any rational woman find anything appealing about someone who wants to rape you and murder you.

A more pathological scenarios is that women who love men who kill are women who have a background of abuse and getting involved in this type of relationship; is they way of undoing and re-writing the past. This time, however, she is in control and he's behind bars with no means to hurt her. What is certain, however, the psychological motivation of these women are as varied as the women themselves.

The psychological constitution and the personality traits of serial killers and murderers, on the other hand, is no mystery; they are seasoned psychopaths. The psychopath is forever, and they live in a world of their own.

Even Freud, the father of psychoanalysis, had little to say about the psychopath. He did singled-out the psychopath as an exception to the average criminals. Freud said: "Among adult criminals we must no doubt accept those who commit crimes without any sense of guilt, who have either developed no moral inhibitions or who, in their conflict with society, consider themselves justified in their actions as psychopathic."

The psycho-dynamic of the psychopath is defined in this manner; a lack of remorse or shame, poor judgment and failure to learn from experience, egocentricity and incapacity for love, poverty of affective reaction, and loss of insight

Women who seek out serial killers, murders, rapists, and society's rejects should first take into account the personality of the psychopath. The psychopath is a rebel; his rebelliousness is designed to achieve goals satisfactory to him alone; he is incapable of vigorous effort, of any kind, for the sake of others. All his efforts, no matter what shape it takes, represent investments aimed to satisfy his immediate wishes and desires.

Women who seek intimate relationship and marriage with psychopath behind prison walls should be conscious that when he says "I do" he means I do for myself; everything that I do is to meet my immediate needs and desires.

Women should never forget; there are no prince among serial killers and murderers ... only frogs.

http://www.sheilaisenberg.com

Dr. Smith is an experienced psychologist and psychotherapist who consults with individuals and couples as relationship coach; and on all issues that's profoundly private and confidential. For further information please visit my website and send any question(s) you wish me to answer. http://www.insightconsultant.com

Using Barriers to Create Successful Trades

Learning how to identify levels where multiple barriers are can make a trader a good profit. Several types of price barriers are in the Currency trading market. It is common for pairs of currency to reverse direction at these barriers. By learning how to put them together, people who trade are able to create a system of trading with higher probabilities of success. Some barriers have resistances levels, support levels, Fibonacci levels and psychological barriers. Barriers on trend lines and at pivot points can also strengthen our analysis. Now we will look at the different types of barriers common in the Forex market.

Support and Resistance Levels

Resistance and support levels are huge changing points that the market has consistently respected in the past. The more times the market has used them, the stronger they are. Support is identified as the changing point where the buyers took control and the currency pair began to rise. Resistance is any level where the market finished rising and turned down. Resistance and support levels on larger time charts are considered greater than those on little time charts.

Psychological Barriers

Psychological barriers are looked at as huge numbers. Any number with the last numbers of 50 or 00 is a significant barrier. Any numeral with the last numbers of 000 is more significant. You will be flabbergasted at how much a currency pair exhausts itself and changes direction within a few pips of a psychological barrier.

Fibonacci Levels

Fibonacci lines are used often to determine if a point has the potential to reverse. Begin with larger time charts and draw Fibonacci lines on big moves. Drill down and mark all smaller moves. Try to find where the Fibonacci lines, psychological barriers and support and resistance lines agree with one another.

Trend Lines

Draw trend lines to mark all major moves and then go and mark the trends that arent quite as big. If you ever run into trend lines that go in the same direction, mark them. To mark them, put lines along the lowest points of an upward trend and make lines following the tops of a downward trend.

Pivot Points

Most packages for charting include either a calculator or a tool that plots your points where it can pivot. These are levels where the currency pair is likely to turn. Most tools and calculators offer several numbers both below and above the current levels of the currencies you follow.

Making lines to mark the different barriers that we regularly see in the FX market can help us identify the points that a pair will most likely change. Take note of those levels where many barriers agree. This increases the chance of having success while trading. If you have many barriers that connect at a certain point, then it is very significant

To learn more about these barriers and their application on your charts, visit our website and www.lotsofpips.com

JARED PASSEY has worked with hundreds of forex traders, has created several high-probability strategies, trades professionally AND manages a foreign exchange fund. He loves helping traders and holds a free weekly forex analysis trading club. (You may reproduce this entire article on your site only if the above link is left intact.)