How the Millionaire Mind Works

Here is an interesting item I found on a blog by Robin Bal.

A man walked into a bank in New York City one day and asked for the loan officer. He told the loan officer that he was going to Philippines on business for two weeks and needed to borrow $5,000.

The bank officer told him that the bank would need some form of security for the loan. Then the man handed over the keys to a new Ferrari parked on the street in front of the bank. He produced the title, and everything checked out. The loan officer agreed to accept the car as collateral for the loan.The bank’s president and its officers all enjoyed a good laugh at the guy for using a $250,000 Ferrari as collateral against a $5,000 loan.

An employee of the bank then drove the Ferrari into the bank’s underground garage and parked it there.Two weeks later, the guy returned, repaid the $5,000 and the interest, which came to $15.41.

The loan officer said, “Sir, we are very happy to have had and this transaction has worked out very nicely, but we are a little puzzled. While you were away, we checked you out and found that you are a multi millionaire. What puzzles us is, why would you bother to borrow $5,000?″ The millionaire replied: “Where else in New York City can I park my car for $15.41 and expect it to be there when I return?”

Health Insurance Alert - ACTION ITEM!!!!

Do you have a son or daughter who is off at college in another state? Imagine getting a call from your daughter's roommate indicating that she has just been rushed to the hospital. Your first thought is to grab the first available flight so you can get to the hospital to be at your child's bedside.

Even though your daughter is over the age of 18, she is still covered on your insurance, because she is a full time college student. So, you are not worried about the insurance coverage. You then rush into the hospital to inquire as to your child's status. The hospital clerk politely informs you that she cannot confirm your child's status unless you produce a "Health Care Surrogate" form. This is an authorization form that grants you access to the health care information relating to your child who is actually a legal adult.

You are totally confused. She is a dependent covered on YOUR insurance policy. You are her parents, and besides, she asked you to come to the hospital. After all, she is only a college student.

The health care worker is complying with the provisions of the federally mandated Health Insurance Portability and Accountability Act(HIPAA), instituted in 1996. While most people know this law makes health insurance available to many more people, it also contains a number of privacy provisions which are are unknown to the average person until an emergency such as this arises.

Normally, patients are asked a series of privacy related questions at the time they are admitted to the hospital. However, if there is an emergency or the patient is unconscious or otherwise unable to communicate, then the health care professionals on the scene make a judgment call as to whether any information may be released to third parties.

In this age of endless lawsuits, many institutions err on the side of caution and will not release ANY information without the proper signed authorization forms. While the law was enacted to ensure a greater degree of privacy at the federal level, many states have added their own laws on top of HIPAA thereby adding to the layers. Add in a few additional hospital regulations, and no one can say anything about anyone. Many of the laws are confusing at best.

In many cases, the hospitals are only trying to comply with the law and avoid steep fines and penalties. Suddenly, the law as it is being enforced looks nothing like the intent of the original law.

So, what can you do? Here are some practical steps:

1) Have your child complete a living will. This is a document that would indicate that a person does not want to go on artificial life support.

2) Obtain a durable power of attorney. This document gives another person the power to make financial decisions on behalf of the incapacitated person.

3) Obtain a health care proxy or health care surrogate form so that someone can make health care related decisions on behalf of the person.

4) Make sure all of the papers are signed and notarized. Then scan the information into a PDF file and e-mail it to yourself such that you can access it anywhere in the world.

Hopefully, these suggestions, if followed, will allow you to spend your energy focusing on any immediate emergency rather than filling out endless paperwork. This is probably one of those cases that if you actually take the time to do the paperwork, you will never need it.

Who or What Is An American?

A friend passed on a version of this article to me recently, and it really made me think. With the sixth anniversity of September 11 upon us, I thought it was very appropriate.

WHAT IS AN AMERICAN?

by Peter Ferrara, an Associate Professor of Law

George Mason University School of Law.

September 25, 2001 9:20 a.m.

You probably missed it in the rush of news last week, but there was actually a report that someone in Pakistan had published in a newspaper there an offer of a reward to anyone who killed an American, any American. So I just thought I would write to let them know what an American is, so they would know when they found one.

An American is English…or French, or Italian, Irish, German, Spanish, Polish, Russian or Greek. An American may also be African, Indian, Chinese, Japanese, Australian, Iranian, Asian, or Arab, or Pakistani, or Afghan.

An American is Christian, or he could be Jewish, or Buddhist, or Muslim. In fact, there are more Muslims in America than in Afghanistan. The only difference is that in America they are free to worship as each of them choose.

An American is also free to believe in no religion. For that he will answer only to God, not to the government, or to armed thugs claiming to speak for the government and for God.

An American is from the most prosperous land in the history of the world. The root of that prosperity can be found in the Declaration of Independence, which recognizes the God-given right of each man and woman to the pursuit of happiness.

An American is generous. Americans have helped out just about every other nation in the world in their time of need. When Afghanistan was overrun by the Soviet army 20 years ago, Americans came with arms and supplies to enable the people to win back their country. As of the morning of September 11, Americans had given more than any other nation to the poor in Afghanistan.

An American does not have to obey the mad ravings of ignorant, ungodly cruel, old men. American men will not be fooled into giving up their lives to kill innocent people, so that these foolish old men may hold on to power. American women are free to show their beautiful faces to the world, as each of them choose.

An American is free to criticize his government's officials when they are wrong, in his or her own opinion. Then he is free to replace them, by majority vote.

Americans welcome people from all lands, all cultures, all religions, because they are not afraid. They are not afraid that their history, their religion, their beliefs, will be overrun, or forgotten. That is because they know they are free to hold to their religion, their beliefs, their history, as each of them choose.

And just as Americans welcome all, they enjoy the best that everyone has to bring, from all over the world. The best science, the best technology, the best products, the best books, the best music, the best food, the best athletes.

Americans welcome the best, but they also welcome the least. The nation symbol of America welcomes your tired and your poor, the wretched refuse of your teeming shores, the homeless, tempest tossed.

These in fact are the people who built America. Many of them were working in the twin towers on the morning of September 11, earning a better life for their families.

So you can try to kill an American if you must. Hitler did. So did General Tojo and Stalin and Mao Tse-Tung, and every bloodthirsty tyrant in the history of the world.

But in doing so you would just be killing yourself. Because Americans are not a particular people from a particular place. They are the embodiment of the human spirit of freedom. Everyone who holds to that spirit, everywhere, is an American.

So look around you. You may find more Americans in your land than you thought were there. One day they will rise up and overthrow the old, ignorant, tired tyrants that trouble too many lands. Then those lands too will join the community of free and prosperous nations.

And America will welcome them.