7 Things You Should Never Hear From Your Financial Advisor

High net worth individuals and business owners know a lot about investments, making money, and growing their finances. But I’ll guarantee you something. I’ll guarantee you that no matter how much you know before you set foot in an advisor’s office, you will probably encounter unfamiliar financial jargon and advice. Things will be said that you have no way of validating or judging. If that happens to you and the advisor can’t or won’t clarify, strongly consider finding another advisor. Business owners and high net worth individuals should run from coaches or advisors who use wording or techniques similar to what I’ve listed here. “I […] Read more »

5 Powerful Actions To Transform Your Business, Your Team, and Your Community

The best business books can vastly improve the way we run our organizations. The best books make us not just better leaders, better business owners, and better workers, but also better citizens and people. And so I gladly agreed to write a foreword to the best seller, The Serving Leader, by John Stahl-Wert and Ken Jennings. Stahl-Wert and Jennings propose that the key to business (and community) success is what they call the philosophy of the Serving Leader. Hold onto your hats. This type of leader probably breaks every leadership principle you think you know. The first of the five powerful actions the book proposes […] Read more »

Family Businesses Often Overlook Risks To Family Members

Your family business may be well protected from risks but what about your family members? Could the family business do major damage to the family? Are there risks you can remove or protect against? A new family business study indicates that most family businesses lack a regular risk management process that covers the entire enterprise including risks to the family. A report in the May/June 2015 Family Business magazine on the Crystal & Company and Family Office Metrics study said the study found only 30% of the 159 online survey participants have an enterprise-wide risk management process. This concerns me because some business owners focus […] Read more »

Money Book Gives Insights to High Net Worth Individuals

When people recommend a financial planning book I often cringe. So many financial and investment books provide poor advice. But recently a client asked me to read Tony Robbins’ Money: Master The Game – 7 Simple Steps to Financial Freedom and I’ve found many solid, practical ideas in the book. Business owners and high net worth individuals may feel the same. Yes, the book’s long. I’m only on page 340 of its 627 pages. But here are some reasons why Money: Master The Game may be worth your time. First, I believe in taking financial and investment advice from high net worth individuals who have […] Read more »

6 Small but Impactful Financial Steps for High Net Worth Individuals and Business Owners in 2015

For a moment, put aside the country’s economic prospects. Focus on your own personal financial outlook and that of your own business. We’re already more than a month into 2015. Are you seeing financial improvements? Do you have a solid investment and financial plan for the year? Personally, I think the country’s in an improving economy right now with lots of opportunity for smart business owners and high net worth individuals (HNWI). But financial conditions can change quickly. For you to reach your 2015 business and personal financial goals you need financial insight. Here are six ideas that may give you greater opportunities to grow […] Read more »

High Net Worth Individuals: Best Practices

learn how to maintain wealth

Becoming a high net worth individual (HNWI) is one thing; maintaining that wealth can be quite another. Here are some simple but often overlooked best practices for maintaining wealth.  1. Think why before how Don’t even think about how to grow or maintain your wealth until you understand your goals, comprehend your long-term needs and put your situation in context. Think about your financial “pain points.” How important is it to ease that challenge or pain? How will making a financial move affect your family? Why will making a move make you better off than you are today? 2. Understand how all your finances fit […] Read more »

The Business Owners Financial Checklist

business owners financial checklist

You may feel like April 15, 2015 is light-years away. It’s not. Start preparing for your tax bill and take stock of your business’s financial situation now. Small actions now could prevent the need for bigger, costlier actions later. Here are 10 simple steps business owners can use to improve a business’s tax and financial readiness.   1. Re-evaluate your business entity Many small businesses start out as sole proprietorships or partnerships, but eventually transition to another entity. For example, if your business is not incorporated, you may want to consider incorporating (either as a C Corp, S Corp, or LLC) to shelter you from […] Read more »

Women Retirement Shouldn’t Scare You

Women: Retirement Shouldn’t Scare You

If you read my free eWorkbook, 21 Critical Retirement Questions Answered, you know that retirement can be more challenging for women than for men. In that eWorkbook we talked about how women often earn lower wages than men, work fewer years and tend to live longer. And nearly half of women in the United States don’t have a retirement strategy. All those factors make planning for retirement even more crucial for women. One recent news report even said many women are terrified of retirement. On National Public Radio (NPR), Jennifer Ludden reported that retirement scares women. Many women, according to the report, lack confidence in their […] Read more »

Want to Retire? Make Your Money Work for You

Be honest. Don’t you think that most people spend way too much time and energy worrying about or trying to influence financial matters they can’t control? It’s true.  My advice is to not focus on financial matters you can’t control. Make Your Money Work for You. Focus on the things you can influence and that will make a big difference in your life. For example, you can’t control time, but you can control the time you spend preparing for retirement. You cannot control Social Security, but you can put money aside in a way that can provide a comfortable retirement whether or not Social Security is […] Read more »

Retirement Planning Starting Gate

retirement-planning-starting-gate

What’s the single most important thing you can do to start successful retirement planning? Just get started. As hard to believe as it might be, the single biggest factor in people not achieving a comfortable retirement is that they never make retirement planning a priority. There’s a great list of simple steps you can take to prepare for your retirement. The list is the free download, 21 Critical Retirement Questions Answered. But here’s something you can do first. Sit down with your spouse or significant other and see how many of these 20 statements you both can say “yes” to. Work on resolving any you […] Read more »