One-Stop Spot

I have recently worked on this task myself and decided to share.  Every household should have a one-stop spot (Drawer, Box, File, Safe) where you can keep a summary of your finances.  Including, but not limited to, all types of insurance, will, mutual fund accounts, mortgage information, tax returns, etc.  I wouldn't recommend adding every single document/statement because that is overkill for what you're trying to accomplish.  This simply needs to be a reference in order to locate the applicable statements and documents.  You will simply need to examine it every six months or so to ensure it is still up-to-date.  This will be crucial should there be an unexpected death in the family.  Your spouse should know where it is and one other family member or close friend should know where it is.  You're family will thank you one day.

I could easily dive in to more specifics but I came across a good article that pretty much sums it all up. If you want more information, check it out here. Let me know if you have any specific questions.

Woodworking Projects (Entertainment Center Catch-Up)

 I've been bad at the one thing I would like to do with this outlet.  Share updates on projects.

If you didn't know, the Rangers made it to the World Series.  We got to go to several home playoff games (quite a few actually...) which included a World Series game!  Anywho, I meant to talk about our experience but have simply forgotten.  So, to sum it up, it was AMAZING. Yes, they didn't win... but simply making it to the World Series and the way they made it (beating the stupid Yankees in triumphant fashion) was more than anyone could ask for.  To see pictures, go to Randy's facebook.  And yes, I'm still a huge Cardinals fan.  But, I'm a huge baseball fan and being a few miles away from the Rangers makes it way too easy to go to games and follow the team.  My favorite past time is listening to the game on the radio while working in the garage on my projects...

I've been promising Randy that I'd build her an entertainment center just the way she wanted it.  I've been into woodworking for years.  My grandpa is a big woodworker and I used to build things at his house all the time.  He's my personal go-to source for woodworking questions.

In the evenings of the summer I would listen to the games and work on the entertainment center.  I won't go into much detail, but I'll put up several pictures so you can get an idea of how it is made.  If you have any questions or want any details, use the comments.  (Note: The pictures were taken with my phone... I don't claim to be a photographer)

 

  

Professional Skepticism

Professional Skepticism - An attitude that includes a questioning mind and critical assessment of evidence.

This post idea came to me after contemplating the implications of a story a buddy told me the other day.  The extremely abbreviated version of the story includes him being kind enough to give a gentleman a ride to a church.  While on this ride, the man buttered him up with lies and sucked my friend in.  Before he knew it, he lost almost ten grand and couldn't do anything about it.  He wasn't held at gun-point and wasn't threatened in any way.  All this to say, even the smartest, bravest, strongest man can be had in the right situation.

In my profession, we are constantly reminded to exercise professional skepticism.  When I first started in public accounting, I was naive and inexperienced (a bad combination).  It didn't take me long to see first-hand the ways a client would (unintentionally) provide insufficient information.  After realizing what was happening, I knew I had to change my practices.  I began taking my time and not leaving the room until I completely understood the situation.  Even to the point of embarrassing myself up front by exposing my lack of knowledge. However, this practice would breed appropriate information and all parties involved would benefit.

I am not a glass half-empty guy.  I don't think big brother is spying on my house.  I do think the government is mishandling my tax dollars, but not to the point where I'm not going to pay.  I don't ignore total strangers, but I don't give people rides.  I do give money/food to the homeless because its between me and my God what I give them, and between them and theirs what they choose to do with it.  However, a little professional skepticism up front can cover a multitude of problems later on.  I don't want to have a friend miss a mortgage payment because they were too naive to realize what was happening.  When in doubt, take your time and think it through.  This practice will breed appropriate outcomes and all parties involved will benefit.
 
Just to keep things real, I've added the following picture for your enjoyment.