The Wilmington morning star., 1947-10-18
Babson Urges
More PlanniiO.
BY ROGER W. RApSo.

EUREKA, Kansas. ON
Ito those who are 0e'o5e
about the financial out IIou0At
want to say that only as |
families adopt Careful ll''s
planning will our nation tslats
its ''booms and busts n 'eaes
words, for every addition, U .'as'
lily providing for the fut,'r. LAM
"booms'' will be less dsr.A
Gus; and the "depressionrse1' ss,
be less severe. l feel yery WI
tain about this. Co.
We give too much tro.
business and too little ,t,e b
children. A busy executive oN
almost no time to tbink;ns.9s
the future which is to be- a y
essential part to his later, y
development. Also think ~
farmer or businessman v.ba a
been pouring all his profits -, ra'
into the farm or bushes, '' :
sells out and finds himself NJ NJ
a grand bank balance h,. WIG
income until he puts his ma %
to work. He has to sit , Sa
and do some very serjons t S9Si
ing. His entire future dep ppr%
on it. PeAQ'
Then there is the widow, ,,,
responsibilities LETT M T@
shoulders for which she nN
prepared. How best in = ss ll
time can she get basic kD Dru'
edge of the essentials in AVN
agement of her affairs? The '' OIL
swer is to read such books ',
her local banker viii rso,. d
mend or attend such a co1Isa,
as I and my friends b,s'
opened at the "Center of t W.
U. S." ~'
Then there is the mod,
man, whose prime Interests w.,
far removed from the finsro %'
world. His success in his ,,s
fession is largely due to his m.
sided interest in it. But he Mn.
into a problem. He must taxi
little pause, in order To N,
serve what he has accumulata
and arrange his affairs tn gmi
advantage. A short course ,
estate planning is what h,
needs. These doctors are a.
ways checking up" Others BIN
seldom take time to check Il,
themselves physically Or finsp
cially.
If you are a beneficiary Of,
trust, you may have all N.
confidence in the world in n,
men who are handling thipg
but it is my advice that yr
also get enough investmn
training so that you can lnte,
ligently watch them. Trust ben.
eficiaries who often consult with
their trustees get the best sery.
ice. Trustees usually are vgv
glad to discuss such matters i
they feel you understand what
you are discussing, Books and
classes exist to help people get
such training.
Lawyers are often made Gus.
todians of estates and get very
well paid for such work, How
much time are such busy men
giving to the study OF invest
ments? Lawyers want their doc
tors and dentists to attend SUM-
mer classes to keep up to date
Lawyers should be fair to then
trusting clients and give the fl
nancial side of their training
continuous postgraduate study
Lawyers are SO pressed with
detailed work which they mus
do, that they seldom take tint
to present new thoughts to thel
clients. Busy lawyers are no.
good statesmen of their Owl
wares. They seem to hesitate K
suggest to clients that they re
wise their wills, form trusts and
plan their estates intelllgerty
Yet, these things are far mort
important for the clients tanll
lies than the detailed legal Wols
upon which their time IS moSll
spent. -
1 have just visited the whea
country where farmers ar
reaping much wealth. They ar
getting more money than they
ever dreamed of, but have n n
knowledge of what to do WIN
it. AS a result, this central Wss'
is now infested with "get-flcn
quick promoters. They a.
trying to get away from III
farmers their hard earned mon
Continued On Page SIN