Business Owners, You Need This Crucial Trait to Grow a Successful Business
A big part of running a business is having a sense of your own strengths and weaknesses. Often times, and yes I’m guilty of this, we play the blame game for our failures. Personal growth and by extension the growth of your business depends on you taking accountability for mistakes within your control and not sweating outside forces beyond your control. That’s where real business success starts.
Does your financial advisor help you invest & nothing else? Here's why that's a problem
The financial plan is the mechanism through which you not only gain a clearer sense of the path you’re heading down with six key pillars: cash flow, taxes, saving & investing, debt, insurance, and trust & estate planning. With a sense of your path and assumptions around a range of future returns, your plan can give you the confidence you need when markets are compelling you to make emotional decisions to sell your stocks at the wrong time.
How to Replace Income When Injured or Sick: 5 Key Points on Disability Insurance
top 5 things to know about disability insurance.
Liquidity: A Business Owner's Most Important Money Decision
All planning starts with the fundamentals and at the top of that list is liquidity. You do NOT want to be a forced seller of assets when you need cash.
Your Investment Portfolio as a Role Player in Your Business
Many business owners I speak to don’t think about their business in light of their entire household balance sheet. All industries come with their own set of risks and opportunities and when managed in isolation from the owner’s investment portfolio (your brokerage accounts, private real estate, venture capital investing, and retirement accounts), you could be exposed to way too much risk or not enough. Your portfolio and your business all play key roles to help you reach your life goals across time.
Considering Paying Yourself an Owner Salary? 5 Hidden Benefits Why You Should
Taking salary as the owner of your business may feel a bit indulgent but its quite the opposite. It should be a necessity once your cash flow and profits support a consistent owner salary. In today’s video, I want to highlight some benefits to taking an owner salary that you may not be aware of.
Is Your Business Growing But You're Afraid to Pay Yourself? Do these 4 Things
Setting a salary for your work as the founder can feel self-indulgent. It shoudn’t! As long as your planning and cash flow support it, not only should you feel good about it, your business depends on you taking a salary. Four benefits of paying yourself a salary as the owner..
This Undeniable Fact Will Force You To Reconsider Your 100% US Stock Allocation
What the rise in price of chocolate and drop in price of eggs can tell you about investing in different economies here in the US and abroad.
Home Country Bias: Should Your National Pride Dictate Your Investing Decisions?
Why home country bias is generally a bad idea for your investment portfolio.
S-Corp Owner? Ignoring this = missed tax savings & increase audit risk
The most important metrics to review in June and July in order to inform your cash flow, cash reserve, investment portfolio, retirement savings and tax planning for the rest of the year.
Don't Wait Until December to Review These 3 Things
What financial planning items can you review in July to free up more bandwidth for key end-of-year decisions? Debt, estate planning and insurance.
Why Mid-Year Plan Reviews: What's Trending?
The most important metrics to review in June and July in order to inform your cash flow, cash reserve, investment portfolio, retirement savings and tax planning for the rest of the year.
Work from home as a sole proprietor? Make sure you are capturing these home office deductions!
A primer on home office deductions as a sole proprietor. How to calculate home office deductions and which calculation should you use?
Struggling with high interest debt? Reframe Debt as a Return
Debt is typically perceived as an obligation rather than a return on investment. The interest rate you are paying on a loan should be viewed in parallel with the opportunities available in other assets. Have a sub 3% mortgage when the current 30 year fixed rates are at 6%?? Keep it and pay it down slowly! Have a 20% rate on your credit card balance? Pay that balance down as soon as possible. You aren’t getting a 20% return on average from ANY risk asset.
5 Financing Alternatives to Merchant Cash Advances
The best outcomes when it comes to financing ultimately stem from optionality. The more options you have to either finance growth or get yourself out of a cash flow pickle, the better positioned your business will be. Here are five financing alternatives to those toxic merchant cash advances.
Should you get a Merchant Cash Advance? 6 Reasons Why MCAs are a BAD IDEA
Merchant cash advances (MCAs) are a tantalizing form of financing. They’re quick and easy to apply for. But what’s quick and easy in the world of financing usually comes with a laundry list of caveats and red flags. Beware of MCAs!
Applying for a mortgage as a business owner? Make it less awful with these tips
Applying for a mortgage as a business owner? Your business is humming but your bank is giving you pushback. These tips can help make the mortgage loan application process smoother and boost your chances of getting an attractive rate.
Should You Spend on Things or Experiences?
Paying for experiences instead of things is all the rage right now. You could be missing out on some wonderful life experiences but ignoring all things. Use this 3 part test to make smarter purchases when buying tangible products.
The Paradox of Insurance: You Buy It & Hope You Never Use It
We buy insurance in the hopes we never have to use it. That kind of investment will turn your brain into a pretzel. It doesn’t make sense. But trust me, you need it. Insurance will save you from the very worst situations.