RIP: A Great One Has Been Lost

A great author, communicator, and estate planning expert has lost his battle with cancer. Scott Fithian, author of Values Based Estate Planning has passed away from cancer at the youthful age of 45. I never knew Scott personally, though I've read his materials (and ironically ordered his book just two weeks ago), but he will be sorely missed in the financial planner community. What follows are a couple pieces about Scott Fithian.

“A Tribute to Scott”
by Jim Stovall

This week, I lost a great friend and colleague. If you consider his age, Scott died about
40 years too soon. If you consider his impact on the world, he filled several lifetimes.
Cancer eventually took his life, but it never took his courage, his dignity, or his concern
for people everywhere. I only knew Scott a few years, but I can truly say of him the best
thing that could be said of anyone: Scott made me a better person. We were in business
together, and each day, through the way he conducted himself, he challenged everyone to
reach for and perform on a higher level.

There are very few things in life that are incontrovertibly true, but without fail and
without exception, we will all leave this world, and there will be friends, colleagues, and
loved ones still behind. The only question before each of us every day is: What is the
legacy we leave behind?

Scott was involved in the financial planning industry. He helped professionals and their
clients manage their assets and their estates. He felt this work was important and pursued
his business with passion; but as important as these financial matters were, Scott often
said, “When we’re gone, money will be the least significant thing we leave behind.”

I know everyone reading this column in a newspaper, a magazine, or online somewhere
around the world, has lost special people in their lives. The only thing we can do as a
lasting tribute to these special people is to take the best characteristics of their essence
and adopt them into our lives as we move ahead. We are the spark that is left behind
from their days here on this earth. Always remember, someday the people you care about
most will be looking back on your life and thinking these same thoughts. Remember, we
are writing our own obituaries, one day at a time.

Scott and I had many great conversations during the last days of his life. I view these
times as priceless treasures that will forever change who I am. Scott and I had a
tremendous advantage in that we knew his days were short. Think of all the people in
your life who mean so much to you. Contact them today. If they live another 50 years,
you’ve planted a great seed. If they pass on today, you’ve generated a priceless memory.
As you go through your day today, live each day as if it were your last. Some day it will
be.

Today’s the day!
Jim Stovall is the president of Narrative Television Network, as well as a
published author of many books including The Ultimate Gift. He is also a
columnist and motivational speaker. He may be reached at 5840 South Memorial
Drive, Suite 312, Tulsa, OK 74145-9082, or by e-mail at JimStovall@aol.com.

Let's all say a little prayer for Scott's Family.

Scott Dauenhauer, CFP, MSFP

Oil prices extend losses, Brent drops below 66 dollars

I thought we were headed for $100 oil?

Roth 401(k)s often beat conventional 401(k) plans

"It's time to stir things up at the office. Thanks to the new pension law, Roth 401(k) plans are no longer slated to disappear in 2011 -- and that means a lot more companies will consider offering these plans. Want a shot at tax-free investment growth? Here's why you should phone up human resources and put in a request for the Roth 401(k)."

A very good arguement by Jonathan Clements on why a Roth 401(k) is a good idea - it basically forces you to save more than you normally would, and on a tax free basis. I think this will be a rising trend. I do like a Roth IRA better than the Roth 401(k), however some people don't qualify for the Roth IRA, or simply will never start one - while they might with their employer.

Scott Dauenhauer, CFP, MSFP

Some firms drop CSA designation

I've been saying this for years. The CSA Designation (Certified Senior Advisor) is just a ploy for insurance agents to sell more Equity Indexed Annuities - it does not provide a deep education into the issues of financial planning for the elderly.

Scott

The Only Radio Money Show You Should Listen Too

Lately I've been experiementing with Podcasting. Podcasting is basically the ability of anyone to create their own internet radio program. I'll be posting podcasts to my new website once I'm finished with it and I'll be commenting on news events and doing educational content, just like I do here on my blog.

In my research on how to do a good podcast (online or downloadable radio show) I found a radio show called "Sound Investing". "Sound Investing" is a weekly radio show/podcast that anyone can download to their computer, ipod, or mp3 and listen to at their leisure. I've listened to a lot of radio shows, everthing from Maverick Investing (give me a break) to Suze Orman ("you go, girlfriend"), yet none of them are really that good. They just don't educate you on what you really need to know about investing, or investing correctly.

"Sound Investing" is hosted by Merriman Capital, a group of Investment Advisors out of Seattle, Washington that I admire and respect. They manage money similar to the way I manage money and thus we have a common bond.

Though I believe my podcasts will be great and you should listen to them as often as you can once I make them available, I also think you should listen to "Sound Investing" as a supplement to what I'll be doing. I don't want to re-invent the wheel and I don't have the resources or the time that Merriman does to produce such an excellence podcast, thus I am recommending to you that you listen to it.

I know what your thinking...Scott, why would I listen to a competitor of yours? Why would you refer to a competitor's show as "The Only Radio Money Show You Should Listen Too"?

The answer is simple, my passion is for people to become educated about investing and financial planning and I can't do it all on my own. When I find honest, respectable, intelligent people who do a great job, I want you to hear what they say, it can only enhance your life and thus my own.

I am not saying that you should move your accounts to Merriman......I'd still like to be your advisor and will work my tail end off to be the best, but do listen to "Sound Investing" every chance you get, you'll not regret it.

Scott Dauenhauer, CFP, MSFP

P.S. Merriman Capital doesn't pay me a dime to promote their webcasts!