Legacy Planning - what should happen when you die

 

There was a scene in a film where the villain asks the hero, “tell me how you want to die”

The hero replies, “as an old man”

That’s our wish right we want to die as an old man but when we die is not in our control.

We should definitely try to form good habits and take care of our health but death just happens sometimes and mostly when we are not ready for it

 

Some of my colleagues died due to COVID leaving  young dependent children behind… and that got me thinking

 

 

When we leave our family unexpectedly we have to let them know what they have to do.

There are 2 aspects

1. inheritance of wealth
2. inheritance of memories

 

Since we are in digital age lets speak about the above 2 only from the digital point of view since I feel that’s going to be very difficult.

 

If you have physical document about your investment in a suitcase your family know exactly where to look but with digital investments how many demat account, MF Folios you have .. you may yourself may not know.

 

With ease of paperwork in digital you would have tried zillions of investment products and even though you have placed a nominee in each of the account the nominee needs to know about them then only they can act on it.

 

So please think about this… do you want to create a will or at least print out the consolidated investment statement once a year and keep it somewhere so your family can see. Please plan this and discuss with your family

 

Next comes inheritance of memories, nowadays we don’t take print of our photos and also not even copying it in a cd and its all in some cloud platform say google.

There are ways to make these assets /memories to be transferred to your dear ones on your demise.

Please read this article

https://economictimes.indiatimes.com/wealth/personal-finance-news/how-to-bequeath-your-gmail-facebook-other-digital-accounts-to-your-family-heirs/articleshow/58548246.cms?from=mdr

 

We cannot afford to think about legacy planning at our 60s. Legacy planning is an ongoing process and we have to start very early and keep on updating them as things change over years.

 

Invitation for Mastermind

 I was curious about starting a mastermind and I ended up starting mastermind not with a group but as a one on one sessionss. 

There are many programs for self development, you can join an online class or read a book. But there is something about a peer to peer connect. A Magic that happens in the "we" space. 

There is a customized recipe that we discover with being in a mastermind and I think its a important tool for personal development and it can co-elevate our community

Here is a snippet of what I use for sending invite for mastermind. 

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Hi <name>

I was thinking of starting a mastermind group. You would have heard of a master mind group in some books. Its about few ppl get together and discussing their problems and come up with solution A peer to peer mentoring group. Its also an accountability group. You go to the group and say this is what I want to achieve and the ppl will be your accountability partner and check whether you are making progress.

We are so productive in office since we have some goals for the project and we meet frequently with our peers and boss and give report of the progress and we are held accountable. But we don’t have the same system for personal development.

Very successful ppl are part of some mastermind groups and they usually charge very high amount and it’s a very private group no one speaks about it and its not open to public.

When you look about general friendship calls that ppl have its generally shallow we discuss about politics or movies or something like that and we don’t go deep about our personal aspiration and problems and we don’t say about our goals to anyone and so there is no tracking of the goal and we end up living well below our potential.

 

Anyway ppl in mastermind group should have known each other so I thought why can’t we start with our friends

Are you interested in creating a mastermind group. I cannot think of anyone other than you, me,<friends name> if you think you want to have a mastermind group but don’t want any of these ppl let me know. We can have it between just the 2 of us.

 

We can  discuss about the rules etc . We can have some calls say 30 mins once a week or whenever we want and we need to go very deep and speak about our things openly with trust and be open to being vulnerable and getting feedback.

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For me inspiration for mastermind came from lifebook, mondvalley and books like think and grow rich

10 minute rule - overcome distraction

 Got this idea from the Mindvalley content - Being Indistractable  by Nir Eyal

Distraction is anything that takes away from your traction or planned work. 

Distraction could be useful work but its a distraction since it is not scheduled

If you have no schedule then distraction does not make sense. Distraction should be against a schedule so rule number 1 is schedule your day then only you will know how much you are distracted. 

10 Minute Rule:

If you have an urge for distraction like checking facebook just set a 10 min alarm. You are delaying the urge by 10 minutes. Observe how you feel. Its perfectly ok to go to your urge after 10 mins but most probably will not. 

Character and Success

Ridiculouly terrible people are successful 

Pleasing people are successeeful 

Pleasing people are poor so are terrible people

Pleasing people who are poor are happy so does rich pleasing people 

Conversly terrible people tend to be terrible both rich or poor 

So what is happening here. What is the attitude which we have to keep to be successful it seems you can be successful and rich and still feel terrible and be a grumpy guy. 

There are 2 major themes of energy the way of the light and the way of dark both are powerful. 

The way of light is the satvic way of growing, creating values to others making life better for everyone and by that process generating wealth

The way of dark is about trying to be smart and thinking all other people are dump and trying to extract money from those dump people, getting the last blood of the fellow person, jealousy,  etc

In both ways you can get wealth and similarly in both ways you may end up losing wealth, 

Lets explain the loosing wealth aspect 

You are grumpy jealous and you may end up bumping to a person worse than you (another dark worker) and end up loosing money or the light workers and neutral persons avoid you and seek others (both dark and light workers) leaving you grumpy with poverty

Related to light worker, you have not built a personal ego boundary which can save you. You have no boundary which will result in no personal ambition for material wealth you just want to serve and be happy this will result in both not getting rich and if at all you get rich by some accident you may end up loosing it with this attitude. 

Ego less state or  communion with the universe/ god is a very good state which will recharge you but you need not stay in that state permanently. You have to have an inner sanctity with the communion but have to go back to a good ego state 

If you want to be pleasing or in other words if you want to be a light worker and still create material wealth or for that matter any kinds of wealth like health. You need to develop a healthy good ego which will act as a boundary for your living energy. 

A sense of  Iness is needed for your progress

MindValley All Access - cost saving subscription options

 Mindvalley introduced all access say couple of years ago and have introduced monthly all access few months ago.

The monthly access is $100 per month and the yearly is $599. 

So as you can see if you subscribe for monthly and even if you continue for  6 months the yearly subscription looks cheaper. 

But there are couple other alternative 

You can subscribe in your mobile (google/ iphone) - > and anyway you have access to that subscription even in website

Google gives monthly subscription for $59 per month and Amazon says Rs4999 which is $67 per month

Both the Google and iphone option looks like traditional subscription offer of pay every month  or pay for 10 months and get 2 months free.

As Vishen Lakhani says Mindvalley is not a personal development streaming network. With connections app and live interaction All Access is getting awesome and you should try it out. 

The MindValley customer service people are generous  and kind but I feel they are slow. 

It takes a good amount of time to get response 

And here is the killer if you subscribe to the website monthly access they even allow 15 day refund. 

A 15 day refund for a 30 month subscription is insane but they do that. 

Anyway long story short you have to try the 1 month subscription and decide for yourself if its worth it for you. 

And the monthly subscription from the apps(google/ iphone) does not hurt your pocket 

No Universal Prescription Please

 There is no silver bullet which can solve all the problems. 

Prescription has to be customized. 

Lets take investment as an example someone will say if you are this age  you have put X amount in Equity and Y amount in Debt that could be more of a guideline not a prescription. 

You need to consider the person's financial goal, career stability and many other things like his aptitude for risk etc and give him a customized solution. 

Similarly to spiritual path 

A guru comes and says follow my path and he has a big event having 10k people where he teaches Kriya

After few months how may people will be doing the Kriya and also even if they do it, does that really add vale to their life. 

A guru, let me call him a coach since that seems to be a better term. 

The spiritual coach (or for that matter any coach like finance/ health/ career coach) should first understand his capability to guide and should know the level the disciple is and give a training program at that level and he may have to calibrate the training program based on the progress. 

But if this is not possible, then the aspirant can look for gurus learn from them, also get blessings from them if  he can (since its believed that you need the blessings from Gurus for spiritual progress)

Basically most of the time you may not be able to afford a coach (in many areas of life since they may be costly and you may have to be in a level and then only you can start affording a coach)

So you can be your own coach attend some online classes or workshop and review and reflect and recalibrate. 

May be you meet some gurus in some of your training and after sampling you may decide to go to them for help. 

If they are a good guru they may not give an universal prescription for you, it should be a customized solution. 

Whether the Guru can do that or not is not in your control. 

But you can create your own customized solution and recalibrate. 

Dont surrender to your Guru. 

Your aim is progress and it need not be a blind surrender. 

I bless you have the energy and intellect and grace to find your current customized solution for various aspects for your life. 

With that you can have progress. 

Remember for deliberate practice you need to measure, review, report and reflect 

Themes dont change only the implementation does

Humans have been evolving for a long time and the last couple of centuries saw a drastic change in the lifectyle of people but when you look holistically themes never gets changed only the implementation. 

Humans want to be entertained by stories is a theme  

In nomadic days they lit a fire and gather around and the grand old person narrates story, now we consume stories in movies, audio book etc 

So themes don't change only implementation.