Experiencing the power of the Net
The Advocate, Wednesday July 3, 1996
I can't believe it's been a little over 2 months since I've been ON-LINE! So much has happened. I am using the word "Wow" a lot these
days. I've signed up to a mailing discussion group in our church. It's amazing how I can communicate with people from South Africa,
to California, to Florida, to .. you name it, in a matter of minutes in a forum where we can all see the same messages & then comment, either personally or to the group.
Another discussion groupI am involved with deals with Financial Planning & Mutual Funds. It gives the group a forum to deal with
& discuss financial issues. There is a thread or theme that everyone can comment on. It sets up a brain trust that helps us to discuss issues & bring them to a final conclusive consensus very quickly. This is very efficient, since no one is constrained
by time or space. No more deadlines, schedules or meetings. All can be done in front of your computer screen with your keyboard
and a few clicks of the mouse.
I suppose the most surprising & "Wow" event that has happened is that I have my own Web-Page ON-LINE. It is first edition stuff so far but will prove to be a valuable resource that people in this area can use. All my articles that I have written for the Advocate & Country Routes since January 1993 are available. The Mutual Funds section will be an ongoing construction area. The budget sections should prove to be a valuable and easily accessible area of information. There is an easy calculator that anyone can use to see what-if scenarios of amounts , times & percentages that illustrate the :power of compounding".
Plans are in the works to develop an Estate Planning resource, where people can, at their leisure, use a program that easily lets them
see the affects that taxation can have on their estates and proposed solutions. This area will also be under constant construction to add updates and necessary resources. This can save hundreds, if not thousands of dollars and a lot of time. A typical meeting to set
up an estate plan can cost approximately $200 per hour. By doing a lot of the basic work yourself, many hours can be saved to arrive at a suitable plan. I believe I have found the right experts (ie. estate planning and taxation lawyers, accountants who deal in trust and estate matters, life insurance experts and myself, who will oversee and coordinate the team and provide investment advice.)
I know this area will gain greater significance and importance in the next few years. (See my article "Taxes: Ottawa's Next Winfall" June 96 or contact me for a copy.) As I mentioned in my article, "R U Prepared For The 21st Century?" Dec 95, the information age has begun to blossom. By supplying a resource that quickly and efficiently handles information, wealth can not only be made but more importantly, PRESERVED.
Being able to pass one's estate intact to the next generation will be a greater challenge as government hungrily looks at the potential revenue in this enormous lucrative tax market.
Oh, I almost forgot, My Web-page address is http://www.gbd.com/borrow
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