Die Broke - 01/09/98
by Stephen M. Pollan
This file describes some of what was said by the author of this book when he
appeared on the first half of Oprah on 01/09/98.
Near the beginning of the show, Oprah said her lawyers recently told her that
for every $1.00 you leave to someone when you die, your estate pays $1.25 to
process the transaction.
If you are in a financial position to do so, the author recommends that you
consider doing good things for family and friends while you are alive and your
actions can be appreciated. Show your kindness, concern and love now and not
try to use it for points in Heaven.
Some of the points brought up;
- Take care of your kids now, hear the thanks now, help people now.
- What good will it do your kids when you die and they are left your estate
at the age of 50 or 60, when they could better enjoy it NOW? And appreciate
your love and kindness NOW, not when you are dead and can't experience or
witness their appreciation.
- The main focus is to 'Do it now!'
- For those expecting or counting on an inheritance, don't expect anything
from an inheritance. Many times, the bills left at the death eat the
- Live and enjoy your life and your family now, change your life now. Live
for today. (sounds like the fable of the ant and the grasshopper)
- A comment was made that the 50% inheritance tax laws have changed.
- Do what you can do, as hard as you can do it and you will be all right.
- Pay cash and quit today, then rehire as a 'free agent'. You will have an
entirely new perspective and a new attitude on your job.
- We work for a 'stream of income' to improve the quality of our lives, that
is all that is important. Do the job at hand well, but always keep an eye out
for a better 'stream of income' that will make your life better.
- Develop a bifocal perspective, where you are doing a great job for the
company you currently work for, but you are also always looking for a better
paying position. Companies today have 'serial employees' who come and go,
rather than the security promises of the past.
- Leisure kills. Many people save all their lives for retirement. By then,
they are often weak, tire easily or have physical ailments such as bad vision,
difficulty in walking, etc.. yet have all kinds of money in the bank and many
regrets what they COULD have done when they were healthier and in better
condition to appreciate it. Often, when people retire, they spend the first
few months relaxing, then lose interest in life and die.
- Having no purpose in life kills. Keep busy, work, get involved, keep
stimulating and reinventing yourself.
- if you have it to give, help your children now.
- Help them do the important things now, such as getting a car, buying a
house, getting an education.
- Pass on your love and support now. Show your children your love by
helping them while you are alive and can also take pleasure in their joy of
- It is NOT a rule to wait for death before helping your family.
- Pass it on now, china, heirlooms, silverware, things your children would
appreciate and value, let them have mere possessions to enjoy now, while
everyone is alive and able to share life.
Note from Jerry
I saw a recent movie called 'Wishmaster'. It was about an evil djinn (genie)
who granted wishes. Each time a person made a wish in the djinn's presence,
it was granted without the person realizing that if they accepted the wish,
they lost their soul to the djinn.
One of the people was an art dealer who helped to appraise an artifact in the
presence of the djinn. As they sat there and talked, the djinn manipulated
the conversation so that the dealer casually wished for a million dollars.
The scene cut away to an airport, showing an elderly woman buying an insurance
contract before boarding the plane to visit her beloved son, whom she had not
seen in many years. The plane crashed, the mother was killed and the
insurance paid off one million dollars.
My mother is now 72 and this sardonic scene touched me. Do what you can for
people you love or care about NOW, while THEY are alive, while YOU are alive,
show them you care. We all won't always be here so don't miss these