Bobby Bonilla Day
Happy Bobby Bonilla Day!
Every July 1st until 2035, former MLB star Bobby Bonilla receives an annual payment of $1.19 million dollars from the New York Mets. He hasn’t played a game since 2001.
He was owed a $5.9 million buyout in 1999. He and his agent offered a deal. The Mets could defer payments until 2011 with 8% interest, then make 25 annual payments through 2035. In total Bonilla will receive nearly $30 million.
Perspectives on Recent Market Changes
There are many personal or business financial planning options to consider when the markets plunge, but it’s important not to make knee-jerk reactions that could affect your portfolio later on. We are here to help! Listen to my video below about various financial topics to help our current and future clients.
Planning & Responsibility
It’s supposed to be hard, if it wasn’t hard, everyone would do it. The hard is what makes it great. – Jimmy Dugan, a League of the Own
Many of you know that I spent the first 5 years of my career as a teacher and coach. My first job was a junior high coach in a district east of Austin. In addition to our junior high responsibilities, we assisted the high school with scouting and game film on Friday night and Saturdays.
Planning & Responsibility
The wicked stomach flu that has been going around hit our house hard this past month. I’ve been the only one to escape its wrath.
For the week that Anne was out of commission, I got a trial by fire in what she does on a daily basis. Without her, the wheels fell off the tracks quickly. One day I made three trips to the school. Once you do that, there really isn’t much else you can get done. Another day was a trip to the ER, two trips to school, and soccer practice.
Personal Financial Responsibility
This is a repeat of my inaugural letter last year. We’ve had a many new subscribers so I thought I’d share this to celebrate the start of baseball season.
Clearly defining the purpose helped Moneyball redefine baseball.
Financial Review - Spring Cleaning Our Finances
Spring Break is this week. I thought it would a good opportunity to review this letter from last Spring:
My wife is pretty ruthless about throwing things out during the year. Our kid’s toys accumulate. Our storage closets accumulate. It’s hard to keep up.
The same happens in our finances. Over time we tend to accumulate monthly payments, different types of accounts, and financial products. But how often do we grab a metaphorical garbage bag and get ruthless with our finances?
Personal Financial Planning
We recently hosted a market update for our clients. It turned out to be a timely discussion on the state of the markets.
We went through examples of a few market downturns. They’re usually short lived, are normal, and it is rewarding to have a long-term outlook on our investments.
Business Succession Planning
This has been making its way around LinkedIn lately. Bravo to whomever put together this profile. (I’ll give anyone born before 1972 the opportunity to google this.) Now that we’re on the same page, why is a financial advisor writing you about Tommy Boy?
Big Tom nearly cost his posterity everything he built because of poor estate and business planning.
Financial Responsibility
Over Christmas break, Cora and Drew were looking to earn some money on their own. Cora wanted to repay a friend’s kindness by taking her out for a cupcake and juice. Drew has his eye on a Batman toy.
We had recently read the Tuttle Twins series, about twins that learn life lessons about economics, entrepreneurship, and the law.