Three Quotes From Henry Ford About Overcoming Failure

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Henry Ford had a lot of spunk. His famous quote, “Sir, you can have a Ford in any color you want, as long as it is black” is a great little encapsulation of his attitude towards business and life. Perhaps my favorite thing about him is that he embraced failure, but rejected the kind of negative attitudes that largely accompany failure.

When it comes to investing, I am not particularly interested in owning the kinds of companies that will be growing the fastest in good times. Rather, I am interested in owning the kinds of companies that will still be churning out profits without much of a hitch in an environment similar to The Great Recession economy of 2008-2009.

That kind of attitude is something I picked up from my dad when I was little. Anytime we would watch the postgame conference of the athletes after a sporting event, my … Read the rest of this article!

The Disadvantage of Joint Spousal Wills

In traditional nuclear families especially, both spouses often have a desire to draft joint wills that give everything to their surviving spouse and then an equal distribution to their children. This gives rise to the intuitive question: Is it wise to draft a single will instrument that is on behalf of two separate persons, such as a husband and wife?

While a joint will is legal in most states, it is almost never wise to do so.

There are three primary reasons why spouses should not execute a joint will:

The first is that it could be regarded as a “contractual will”, complicating efforts to make changes after one of the spouses dies. Ordinarily, the great discretionary power in having a will is that you may change it at any time so long as you are alive, of sound mind, and elect to do so. In some states that adopt Read the rest of this article!