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You’re Gonna Die, Part 2

The Grim Reaper
The Grim Reaper (Photo credit: Helico)

You know that, at some point, you’re going to shuffle off of this mortal coil.

You will die.

Hopefully, you’ll have lived your life is such a way that the even won’t be easy for your heirs, but you can do a bit to make the process less painful for them.   Do you want them gutting your house trying to find out if you have a will, or does the idea of a treasure hunt for a life insurance policy make you smile?

Assuming you don’t intend to sit in the afterlife giggling about how difficult you’ve made life for your offspring, the first thing you need to do is find a spot to put your important paperwork.    This should, ideally, be a fireproof safe, which you can get for under $50.  You’re looking for something big enough to hold the things that matter, while being able to withstand a bit of fire, in case the part of “Grim Reaper” is being played by an arsonist.

The next thing you need to do is put your important papers in the safe.  Seriously, this beats both filing your insurance papers in a telephone book stacked in the corner and wrapping an envelope full of cash in a 10 year old newspaper and storing it with your recycling.   It’s also superior to tucking an insurance policy in a coupon mailer and losing it the cracks of a chair.*

Important papers include:

  • Your will
  • Life insurance policies, including accidental death policies
  • Bank account information, but don’t forget to remove these if you close an account
  • Safe deposit box information
  • Car titles and lien releases, if applicable
  • The deed to your house
  • Investment accounts
  • Retirement accounts

Things that are not important papers for your heirs:

  • The last 30 years of your monthly gas bill
  • The last 30 years of your electric bill
  • Home Shopping Network receipts
  • Child support filings for your 33 year old daughter who has 3 kids of her own
  • Coupon mailers
  • Credit card offers
  • 10 year old angry letters to the police department about that guy in the silver car who ran a stop sign in the grocery store parking lot

The final thing you need to do to make this all work is tell someone about it.  Don’t hope somebody will find a book that has “In case of death, my will is here” scrawled inside the cover, buried in your kitchen.  Really.   And if that is your plan, don’t move the will later, without updating the book.

Your homework over the weekend is to gather up your important papers and put them in a box.  Then tell someone about the box.

 

 

 

*I wish I was making this up.

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Saturday Roundup – Side Hustles Rock

Image via Wikipedia

We’re busy cleaning for our party next weekend, followed by spending an evening lying in a coffin in my yard, scaring the crap out of kids and giving them candy.

The best posts of the week:

Right now, I am actively pursuing 4 separate side hustles, 3 of which are generating actual cash.  It’s about $500 a month at the moment, but each of them are growing.  My goal is to hit $1500 a month by spring and have full replacement income within 2 years.  Everybody should have some kind of side income, just as a safety net.

One of my side hustles involves training in a niche with 200 companies competing for about 10,000 one-day students each year.    I could try to compete on price, but that’s an arms race to bargain-basement pricing.  Instead, we compete on value, and as such, we’re on track to bring in several multiples of our share of students this year, with growth projected to go well beyond that next year.

Knowing how much more I enjoy my side projects over my straight job, I want to encourage my kids to develop their own lines of income that will allow them to live the lives they want to live, without being a leech on society.

If they can start to get some of their own income, they can learn the value of the things they own, instead of assuming that everything is free.  I will not spoil my kids.

Finally, a list of the carnivals I’ve participated in:

Actions Have Consequences has been included in the Festival of Frugality.

If I missed anyone, please let me know.   Thanks for including me!

Book Review: Social Nation

I recently had an opportunity to read Social Nation: How to harness the power of Social Media to attract customers, motivate employees & grow your business by Barry Libert.  Heckuva title.

Libert is the the CEO at Mzinga, which is a company that connects other companies–and their customers–using social media to collaborate and communicate.  Social media is, quite simply, using the internet to drive interactive communication.  This includes Twitter, Facebook, and forums.  Sometimes, it’s just discussion, sometimes, it’s sharing user-generated content.

Social Nation “will show you, as an employee, customer or partner, how to use new social technologies, make yourself heard, and produce better products and services.”   It bills itself as a “complete toolbox” for social media.   Does it match the hype? Let’s see.

The book is broken into three sections.

Part 1: The Future of Business is Social

Libert asserts that the future of business is social.   That is obviously true, to a degree. A solid viral marketing campaign can drive more eyeball to a product than a full-page spread in the New York Time or a 30-second spot during Super Bowl halftime.  However, there are a lot–possibly a majority–of business-to-business companies that will gain no value from a social media campaign.   Would a regional supplier with an exclusive distributorship for a top-name line of faucets benefit from being on Twitter?  No.  On the other hand, 17% of our time online is spent on social applications and the fastest growing demographic on Facebook is 35 years old or older.  There is certainly some value to be gained by have a social media presence in some markets.

This section(all of chapter 3!) also contains a link to a test to determine your social media skills.   I haven’t taken the test, mainly because I don’t feel like registering for another site.  This struck me as nothing more than lead generation, which is a shame.  It could be a useful tool.

Part 2: Seven Principles for Building Your Social Nation

This section has seven chapters, containing 7 case studies that detail the 7 principle of social media, as defined by Libert and Mzinga.

The principles include:

  • Let the culture lead the way, as demonstrated by Zappos.com.
  • Involve your fans.  The big takeaway from chapter 8 is that, when you create a community, your job is to facilitate involvement, not to control it.  If you try to run it with an iron fist, it will choke and die.
  • Reward others and you will be rewarded. Apple lets developers keep 70% of the money they make in the app store.  That encourages developers to develop, making everyone more money.   Give.  Karma will take care of the rest.
  • There are 4 other principles, but some are just common sense, and I don’t want to give away the contents of the book.

Part 3: Start Today and Create Your Own Social Nation

aka

Chapter 11: How to Get Started and 10 Pitfalls to Avoid

Section 3 has just one chapter, but it’s a good one.    It explains the difference between followers and fans, the value of each and how to bond with each.   The difference?  Fans are actively involved.   Followers are far more passive.

This section/chapter also goes into some things to avoid, like abandoning a social media strategy too early, failing to market your business, underestimating the power(positive and negative) of a social network.

Is it worth getting the book?

Social Nation bills itself as a complete social media toolbox, but it falls a bit short.   The book tackles social media from a purely strategic point of view, ignoring the tactical concerns.   It’s clearly geared toward helping a company plan its social media strategy from a 10,000 foot perch.   For the people in the trenches, or anyone with a grasp of strategy that’s looking for the details on running a social media campaign, it’s not enough.  That said, if you are trying to plan a social media strategy, or you have no idea where to start, this is a great book for you.   It holds a lot of value, but stops some distance before “complete”.  Definitely worth a read if you are involved is social media planning.

Giveaway

I’m giving away Social Nation.   If you’d like to have a chance to get it, just leave a comment, telling me how you like to see companies use social media.  Fair warning, this is the book I read, so it’s “used”.   I take care of books, so you can’t tell that it’s used.

Publishers, Publicists, and Authors

If you have a book you’d like me to review, please contact me.

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