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January 13, 2014

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I fully agree with every one of the recommendations.

The only item that I don't have is "Life insurance". I used to hve term life insurance when I was young, working & raising children etc., but now that we are 79 and 80 respectively and have a very large net worth I feel that it is no longer necessary.

By far the worst mistake of all is #7.
Fortunately we grew up in a very different era from today. When we were growing up in England we didn't know of a single person that had ever been divorced, in fact, the word wasn't part of our vocabulary back then. However times have changed and all three of our children have gone through divorces.

Sometimes I feel that all the progress that has been made in so many areas has come with a high price and had a very negative impact upon young people where marriage, loyality, and fidelity are concerned.

I can't agree with you more on the "buying too much house" mistake. A lot of people today think they need a McMansion and then can only afford to furnish half of it.

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