According to the Insured Retirement Institute’s 2019 study, 1/3 of employed boomers ages 67-72 postponed retirement. Be sure to help your clients stay on track with their retirement plans. For the full study, go to👉http://ed.gr/bi3fg
So here’s the plan.
We’re going to get married. I’m leaving my job. I’m starting a company. We’re moving across country.
Not quite that easy. Reality was...
The process took several months of planning and thorough discussions. I showed and received input on my business plan. Reviewed how long until I projected I’d be back to a reasonable salary. Analyzed our savings to make sure we wouldn’t be uncomfortable as things ramped up. All of it, together.
Look, I get it. Talking to your significant other about finances can be a challenge. But there is so much more to be gained from having open discussions. And if you’re lucky like me, your significant other is bringing incredible ideas to the table. I’d be a fool not to seek out her input and advice.
Don’t be a fool 😉
A #BusinessBobcat is doing a takeover of @ohiocpas tomorrow (4/26). If your future involves the #accounting profession, follow along for a behind the scenes glimpse. Taking over will be @caseymagdinec, a student in #ohiouniversity ’s Master of Accountancy (MAcc) program where she’s going beyond undergraduate concepts and foundational principals with courses such as “Forensic Accounting and Fraud Examination”, “Data Analysis for Decision Making“, “Advanced #TaxPlanning and Strategy”, and “Advanced Auditing and Assurance Services.” The Ohio Society of CPAs is one of the top state CPA societies in the country and represents 85,000 CPAs and #accounting professionals who are strategic #financialadvisors to Ohio's leading businesses. OSCPA partners with the accounting profession to advance the state of business so #Ohio can enjoy a healthy and sustainable economic environment. OHIO’s Master of #Accountancy is offered in an on-campus, hybrid, and online format to meet the needs of today’s students. The MAcc degree is helping Casey fulfill requirements to sit for the CPA exam. In #athensohio , on-campus and at the undergraduate level, @Ohio.University offers accounting and finance majors, a finance minor, and a #financialplanning certificate. One requirement for taking the #cpaexam is to earn a degree from an accredited college or university with 150 semester hours. Both the @OhioCollegeOfBusiness and its School of Accountancy are AACSB-accredited.
0 573 hours ago
A great example of why I always say it doesn’t matter if you can only start saving and investing even $25. Just get started!
Working on the fundamentals and building a foundation will set you up for success on your drive to financial freedom.
With hard work and expertise your income will increase. Having the habits and systems already in place ensures you will only expedite your pursuit with every raise.
Don’t ignore the fundamentals “until you have money”. Work on the fundamentals now so that you’ll have money faster 💸
A survey of 1100 high school students suggests many are confused about how credit cards work. Are new technologies making it harder for young people to understand what money management is all about? And what can we do about it?
Read more >> https://www.zerbamora.com/2019/04/what-tap-and-go-means-for-young-people.html
Common Retirement Planning Mistakes to Avoid
➖Putting off saving for retirement 👉🏼 Most people procrastinate to some degree, but when it comes to saving for retirement, this is a costly mistake. Many people put off saving for retirement because they want to pay down debt first
Paying off debt is important, but so is saving for retirement. The earlier individuals begin investing, the more time their money has to grow
➖Not sufficient saving for retirement 👉🏼 Many people assume that as long as they’re putting something away for retirement, they’ll be fine. But this fails to plan for inflation and may not end up being enough.
The IRS increased the yearly 401(k) contribution limit to $19,000 for employee elective deferrals in 2019. Annual contribution limits for traditional and Roth individual retirement accounts increased to $6,000
Individuals ages 50 and above can make up to an additional $1,000 in catch-up contributions every year. This is a good way for those in this age group to make up some ground if they haven’t enough saved
➖Saving without an exact goal in mind 👉🏼 Some people are regularly saving for retirement and even making notable gains. However, if they don’t have a plan for how much they’ll actually need when they retire, they could still end up falling short.
Most people imagine a comfortable retirement but never do the math to figure out how much they’ll actually need to make that happen. When planning for retirement, it’s important to consider things like living costs, medical costs, your desired lifestyle, health insurance and other unexpected expenses. Determine an exact goal for your retirement savings in order to achieve it.
The Biggest Mistake Young Professionals Make When Trying To Utilize Social Media To Sell Their Services👇🏼
🚨 ASKING before GIVING 🚨
🤦🏻♂️ Most young professionals use social media as a way to tell people what they do and offer their services
Which isn’t inherently wrong, BUT
🙅🏻♂️ You will RARELY get clients just by talking about what you do
🤑 If you want to get clients through social media, talk about the PROBLEMS you solve and HOW you solve them
💰 Don’t be afraid to “give away the gold” and tell people EXACTLY how to do what you do
When you are completely transparent and willing to give up you “secrets”, people will:
1️⃣ Trust You
2️⃣ View You As An Expert &
3️⃣ Pay You To Do It With/For Them
Because let’s be honest... most people don’t “need” any service based professional.
👉🏼You can invest your own money.
👉🏼You can buy a house without an agent.
👉🏼You can do your own taxes.
👉🏼You can get in shape yourself.
People pay others to tell them how to do it or to do it for them because they want an EXPERT who has DONE IT BEFORE to make it easier for them and so they don’t screw up along the way.
🤷🏻♂️ They know what you do. And they’re not interested in that.
👍🏼 They’re interested in how you can HELP THEM and if they can TRUST YOU.
💥 Starting May 2, I’ll be launching a personal branding group program to coach you through your process and help you achieve what I have:
👉🏼Built my following from 0-15k followers in under 6 months
👉🏼Gain 200-500 followers per day
👉🏼Routinely create videos that get between 30,000 and 300,000 impressions
👉🏼And do it all without spending ANY money on ads
🌎 LINK IN BIO to apply 🌎
It’s no surprise that we love celebrations 🍾 🎊🎉 which is why we’re so excited to celebrate Administrative Assistant Day.
A big thank you to our #Adminteam because of you we definitely cyaan bawl inna life, your hard work and commitment is a true blessing.
#toasttoyou #AdminDay #HolbornSpartans #FinancialAdvisors
There are 3 Main components to restoring your credit. Credit repair companies only help with the 1st one. If you dont add positive reporting accounts and reduce your debt only 1/3 of the job is being done.
Book your CREDIT STRATEGY SESSION ONLY $49. Today if you are tired of paying for credit repair for 6-12months.
Your session includes Credit Analysis, Dispute letters, Reccomended Lines of credit w/Guaranteed Approval, Credit Monitoring for 60days.
For all the young families or parents to be, take a minute to read this.
As a parent we always want what’s best for our children, we want what is best for the family. 👨👩👧👦 The only thing that can provide you a “peace of mind” is financial planning and insurance. ✅
Understand that you need to have that back up plan so that your young family and yourself will be protected from unexpected events.
Our responsibility is to secure a greater future for our children, spouse, parents and even ourselves, with insurance you can definitely achieve that. 🙌🏼 Transfer this risk of Income Protection to an insurance company as your family is too young to carry this risk. 🙏🏼 If you are a client reading this:
Speak to your financial advisor today and read up to self educate;
If you are a financial advisor reading this: please share this with clients who you believe needs to read this… 😊
[4 Financial Tips that every 20s should know earlier. PART 1]
If you have just hit your 20s, congratulations you have just completed your first part of your life. However, Financial planning never stops. Here are 4 TIPS to help you kick start your financial path in the next 20 years. 💯
1. Build up an annuity so you keep getting basic regular income in the event. You do not need to take off from work in the future.
2. Keep money aside (if extra) 💰 for commitments such as school fees and or a more comfortable retirement; we all know for a fact even after suffering a critical illness longevity of life is still an issue; people are living longer even after suffering a critical illness; or would you prefer being a burden on your the children?
3. If investing in a property, do not leverage the property as the liability may be too big to recover from in the event of another mishap and use the rental income to create an annuity. 🏘
4. Update insurance policies for other members of the family as if anything did happen to them; the breadwinner who already suffered a critical illness may not physically be able to handle the multiple responsibilities.
If you are a client reading this:
Speak to your financial advisor today and read up to self educate;
If you are a financial advisor reading this: Please share this to your CLIENTS and COMMENT BELOW what should be in PART 2? 😊
(➡️ WHAT SHOULD YOU DO when a critical illness claim is paid out)
After the person receive the claim, do you think it is the RIGHT decision for them to:
- Buy a new Rolex watch
- Go for a long vacation
- Made a down payment to a new house and took the rest of the money for the property as a mortgage
- Buy a new car
Some might say.. well it is their money and they have the right to choose how and when and where they use the money but
Think about it:
1. The person is surely NOT INSURABLE for an income protection ever again.
2. He did make a capital investment into a property but also took on a BIGGER LIABILITY than his investment.. which can't be insured in the event he has another major critical illness and we all know relapse is a possibility.
3. Purchased luxuries from an advance payment of income which they wouldn't have if they didn't get this pay out. (It was not a bonus from work... but it was treated as a bonus)
A lot of families are UNAWARE of what to do in the event they do get a critical illness pay out in the form of a big lump sum of cash.
If you are a client reading this; have this discussion with your family.
If you are an advisor reading this; SHARE THIS with your CLIENTS as they may not be aware of what to do.
Why not have this discussion with them when they are purchasing an income protection plan; in the event they do they this pay out; what should they do with it?