Don’t Spend Summer in Hot Water

 Everyone slips up from time to time. It’s human nature.

 

But some mishaps are easier to make up for than others. A misstep in your financial decision making can have significant and far-reaching ramifications, which is why it’s generally a good idea to run your ideas by an objective professional to avoid regrets in the future.

 

Some recent headline-makers provide good reminders about the benefits of fully thinking through ideas before acting on them.

 

Anyone can say the wrong thing, but if it happens when you’re in the spotlight, as Donald Trump was when he announced his candidacy for presidency -- that’s tricky business.

 

His comments about illegal immigrants from Mexico caused a firestorm of media attention, with interesting repercussions.

 

Detractors have been swift in both criticizing the billionaire mogul, and in some cases, even cutting business ties with him. Conservative supporters have defended his comments, but many remain silent for fear of further disengaging the Latin voting community.

 

And still others defend his right to free speech. Yes, it’s a right, but is it always a good idea?

 

[CLICK HERE to read, “Transcript: Donald Trump announces his presidential candidacy,” from CBS News, June 16, 2015.]

 

[CLICK HERE to read the article, “Macy’s just dumped Donald Trump merchandise,” from Fortune, July 1, 2015.]

 

[CLICK HERE to read the article, “And Now, What Mexico Thinks of Donald Trump,” from The New York Times, July 2, 2015.]

 

Historically, we’ve seen many high-profile leaders and celebrities commit gaffes. Some paid the price and eventually recovered to varying degrees, like Martha Stewart after serving jail time for obstruction of justice. Others have suffered immeasurably.

 

[CLICK HERE to read the article, “Martha Stewart’s Prison Time Actually Helped Her Business,” from Time, Oct. 8, 2014.]

 

[CLICK HERE to read the article, “How Martha Stewart lost her $2 billion empire,” from The Washington Post, June 29, 2015.]

 

[CLICK HERE to read the article, “Brian Williams will leave ‘NBC Nightly News’ and join MSNBC,” from The L.A. Times, June 18, 2015.]

 

How much can our own words and actions hurt us? When it comes to personal relationships, the repercussions can be long lasting. According to relationship experts, using phrases referencing “you always,” “you never” or “you’re being too sensitive” can be irreversibly damaging.

 

On the other hand, taking responsibility for your words and actions and offering a heartfelt apology can go a long way.

 

[CLICK HERE to read the article, “The 10 Most Dangerous Phrases in a Relationship,” from The Huffington Post, May 13, 2015.]

 

[CLICK HERE to read the article, “Benedict Cumberbatch and the Right Way to Apologize,” from The Atlantic, Jan. 27, 2015.]

 

[CLICK HERE to read the article, “Abby Wambach apologizes for referee criticism, will likely avoid suspension,” from USA Today, Jun. 24, 2015.]

 

When it comes to finances, if you’d like help determining your moves for the future, please give us a call.

 

We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives.

 

The information contained in this material is provided by third parties and has been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions.

 

If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference.

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