Financial planning and wealth management are deeply personal. There's no one-size fits all approach, as you can see by some of these questions I've gotten recently: 🤔 Do these assets in trust get a step-up in basis? 🤔 I loaned a family member $30,000 at 3% over a 5 year period. The family member has been making payments for 25 months and wants to pay off the loan now. What's the remaining balance? *numbers changed for privacy purposes. 🤔 What should I be doing with excess company cash? 🤔 I've exhausted my securities based line of credit while waiting for a couple houses to sell. What are my options for generating some additional cash? 🤔 How can I most efficiently give to these 2 charities? 🤔 What are my options for paying for future long-term care needs? 🤔 I've got some company stock as part of a new benefits package. What the heck does this all mean? The questions that come up are unique. The reality is there's no one size fits all answer. That's why we get to know our clients deeply and gather a ton of information up front and as we go along. This helps not only answer questions like these but also be proactive in how we help people try to achieve their goals. Holler if we can ever be helpful.
Jason Peck, CFP®, AAMS®’s Post
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What if I told you with a small change to how you bank that you no longer have to be bound to the typical financial model? What if it was possible to pass your money through an account that would pay you dividends on every dollar you make? (even the ones you regularly spend on gas groceries and taxes)? Unlike your savings and checking account, you could garner great returns and without risk. Possible Result? Potential to pay off your mortgage up to 70% faster and increase the amount of money that you are putting away for retirement at the same time !! Start a business. Fund a project. Grow wealth much faster. You can do this too, but your use of checking and savings accounts may be limiting you….Your banker will not teach you this, and your advisor likely wont either. Unleash your potential today, and experience amazing financial transformation. Inquire about our masterclass. Do you trust your advisor enough to get a second opinion? Learn an advanced money handling system that is proven with math. SafeMoneyJason.com Our firm has gathered over 4000 clients in 46 states and in 8 other countries in 12 years. Our strategies have been taught to over 1100 advisors across the US. We teach RE Investors, Family Offices, and Entrepreneurs. We also help non-profits- Ask us how. We can help. Ps- - Follow @Safe Money Solutions, LLC for more content like this. - Follow me- Jason Nightingale If you want to know more about how to WIN at the bank and start pocketing the cash. Tom Hegna Van Mueller Grant Cardone Kurt Roskopf Dan Lok Kirk Stafford Dan Thompson David Riklan Tricia Benn Edwin Edebiri, MBA Hugh Ballou
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Achieving financial stability and growth involves a strategic approach to managing income and expenditure. Here are key principles to follow: Income Should Exceed Expenditure: Ensure that your income is always greater than your expenses to avoid debt and build savings. Passive Income Goal: Strive to have your passive income (earnings from investments, real estate, etc.) exceed your expenditures. This provides financial security and freedom. Five-Bucket System: Allocate your income wisely using the following system: Priority Investments (10%): Invest in high-priority assets or opportunities that yield long-term benefits. Education Investment (10%): Invest in your personal and professional development to enhance your skills and knowledge. Long-Term Savings (10%): Save for future large expenditures such as buying a home, retirement, or other significant financial goals. Enjoyment (10%): Allocate funds for leisure activities and personal enjoyment to maintain a balanced and satisfying lifestyle. Charity (5%): Contribute to charitable causes and give back to the community. Daily Necessities (55%): Use the remaining 55% of your income for daily living expenses, including housing, utilities, groceries, and transportation. By following these principles, you can achieve financial stability, growth, and fulfillment.
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The 70-10-10-10 rule is a method of financial management that proposes a structured way to divide your income into various segments. Here's the breakdown: 70% - Living Expenses: Allocate this part of your income to daily living costs and essentials, such as housing, utilities, food, and transportation. 10% - Savings: Dedicate this portion to savings, providing a safety net for unforeseen expenses or emergencies. 10% - Giving/Charity: Assign this slice for donations to charities, religious institutions, or other noble causes, embodying the spirit of giving and social contribution. 10% - Investments: Use this segment for investments, which Jim Rohn categorizes as "active capital" for profit-generating activities and "passive capital" for earning interest through others' use of your funds. Implementing this rule can lead to effective financial management, covering immediate needs while also contributing to savings, community support, and investment growth. It's a holistic strategy aimed at fostering financial well-being and security. Nonetheless, individual financial situations vary, and adjustments to this rule may be necessary. For tailored financial planning, consulting a financial advisor is recommended.
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Money: A Tool, Not A Goal In today's society, the pursuit of wealth often overshadows the true purpose of money. While financial success is a common aspiration, it's essential to recognise that money should be viewed as a tool rather than an ultimate goal. Understanding this distinction can lead to a more fulfilling and balanced life. Money serves as a means to achieve various objectives, such as providing for basic needs, pursuing education, supporting loved ones, and investing in experiences that enrich our lives. However, when the accumulation of wealth becomes the primary focus, individuals may lose sight of what truly matters. Instead of chasing an arbitrary number in their bank accounts, people should strive to align their financial decisions with their values and aspirations. This involves setting clear financial goals that are rooted in personal fulfillment, rather than societal expectations or materialistic desires. Moreover, viewing money as a tool empowers individuals to make deliberate choices about how they earn, spend, save, and invest. By adopting a mindful approach to financial management, individuals can cultivate a sense of control over their resources and create a path toward long-term security and prosperity. Recognising money as a tool encourages a shift in mindset from consumption to contribution. Rather than solely focusing on accumulating possessions, individuals can leverage their financial resources to make a positive impact on their communities and the world at large. Whether through charitable giving, supporting local businesses, or investing in sustainable practices, money can be a force for good when used responsibly. Finally, reframing our perspective on money as a tool rather than a goal can lead to greater fulfillment and purpose in life. By prioritising values over possessions and using financial resources intentionally, individuals can unlock the true potential of money to enhance their well-being and make a meaningful difference in the world. Epaphras Adelabi
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3 reasons why cashflow optimization and tax minimization are crucial for your financial success: 1. Cashflow Fuels Your Life Cashflow is the bedrock and foundation of financial planning. It enables you to: * Pay your bills and mortgage * Fund your children's education * Travel and take vacations * Make charitable contributions Without optimized cashflow, achieving your goals and living the life you want becomes challenging. 2. Goal-Aligned Systems and Structures To optimize cashflow, you need to set up the right systems and structures that align with your goals. This involves: * Clarifying and creating your goals * Automating your money flow to the right places * Eliminating the need to budget and think about every penny By setting up goal-aligned financial structures, you can ensure that your money is working towards what matters most to you. 3. Maximizing Savings and Minimizing Taxes Cashflow optimization also involves making your money go as far as possible. This includes: * Earning significant interest income on your savings (e.g., 5% in treasury bills) * Understanding your tax situation and minimizing potential tax liabilities * Having the right team and structures in place for timely tax planning and documentation By maximizing your savings and minimizing your taxes, you can amplify the impact of your money on your financial future, your family, and the causes you care about.
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10 biggest financial concerns for affluent investors : 1. **Preservation of Wealth**: Ensuring that wealth is maintained and not eroded by inflation, poor investments, or economic downturns. 2. **Taxation**: Navigating complex tax laws and minimizing tax liabilities through effective planning. 3. **Investment Risks**: Concerns about market volatility, investment strategies, and the potential for loss in their investment portfolios. 4. **Estate Planning**: Ensuring that their wealth is transferred smoothly to heirs while minimizing taxes and legal complications. 5. **Philanthropy**: Deciding how much to give to charity and ensuring that donations are impactful and aligned with personal values. 6. **Privacy and Security**: Protecting personal information and wealth from theft, fraud, or unwanted attention. 7. **Lifestyle Inflation**: Managing the desire for an increasingly luxurious lifestyle without compromising financial stability. 8. **Financial Literacy of Heirs**: Preparing children or heirs to handle wealth responsibly and instilling values around money. 9. **Economic and Political Instability**: Concerns about how global events, political changes, or economic crises might affect their wealth. 10. **Succession Planning for Businesses**: For affluent individuals who own businesses, ensuring a smooth transition and continuity of business operations. These concerns often lead affluent individuals to seek professional advice in wealth management, legal matters, and financial planning.
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The ultra-wealthy don't save their money. Here are 5 things they do instead: 1. They buy cash-flowing assets 2. They unlock bonus depreciation 3. They use leverage to compound 4. They use "good debt" to grow 5. They avoid the secret tax... My goal with social media and LinkedIn is to teach what I wish I knew 10 years ago. As a construction guy in his 20s: • I did it all myself • I traded my time for $ • I had zero leverage It led to a hospital visit where the doc asked me "what would happen if you died?" Massive wake up call. In my 30s, I started building my wealth smarter instead of harder. The first step: Educate yourself on wealth strategies. My most recent guide called "Why the wealthy don't save money" dropped. Free for you to learn: https://lnkd.in/gvU6eAvd
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This is the biggest mistake people make with their money 🚫 Keeping your money idle in a bank account may seem safe, but it's actually making you poorer while enriching the banks. Here's why and what you can do instead: 💡 First, why it's a mistake: ↳ Inflation erodes value: As inflation rises your money loses purchasing power over time. ↳ Opportunity cost: Money in a savings account isn’t working for you. It misses out on potential returns from other investments. Better alternatives to grow your wealth: 1. Invest in entrepreneurial ventures: ↳ Start your own business or invest in promising startups. ↳ Benefits: Potentially high returns and personal growth. 2. Diversify across asset classes: ↳ Real Estate: Invest or raise the capital to invest in debt-free real estate. ↳ Stocks and ETFs: Create a balanced portfolio to benefit from market growth. ↳ Benefits: Spreads risk and increases chances of stable returns. 3. Support business ventures of trusted individuals or do good in the world: ↳ Lend money to friends or family with viable business plans or give the money to charity. ↳ Benefits: Lending can be a charitable act too and while you may not want to earn interest on it, you can figure out a win-win relationship. I would much prefer my money go towards helping someone than sitting in a bank. Key takeaway: Don't let your money sit idle. Put it to work through investments, diversification, and supporting entrepreneurial activities to ensure it grows and works for you.
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Two tips to use in your financial freedom journey. Track your expense and save what's reasonable. Dear friends, your money is an asset that should be monitored with utmost due diligence. Tracking helps you become aware. Awareness is the beginning of problem solving. For this week, keep track of what you spend and what you spend them on. There's a formula for savings that says 30% of what you earn is for your future. As much as possible cultivate the habit of saving 30% towards investment, charity and savings itself. Remember, financial wisdom is the beginning of success. Track your expenses and save reasonably. Do have a beautiful Tuesday.
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Why Investors Walk Away: The Critical Mistake Businesses Make When Raising Funds Over the years, I’ve gone through a lot of fundraising efforts, and one thing I’ve learned is this: investors will walk away the moment they find out their money is going toward old debts. Even if you say part of the funds will go toward working capital, the debt part scares them off. Here’s why: Investors Want Growth, Not Debt: They’re investing in the future of your business, not its past problems. If their money is being used to cover old mistakes, it makes them uncomfortable. It Breaks Trust: When investors feel like their funds won’t be fully used for growth, it’s hard to build trust. Even if you plan to use some of the money for working capital, the idea of paying off debts raises a red flag. It Lowers Your Valuation: Carrying old debts while asking for funds can hurt your company’s value. A messy balance sheet makes it harder to get good terms or a high valuation. What I’ve learned is that the best approach is to clear your debts before fundraising. Investors want to support growth, and a clean balance sheet helps build their confidence in your business. Have you faced challenges raising funds while dealing with old debts? #Fundraising #BusinessFinance #InvestorTrust #FinancialHealth #BusinessGrowth
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