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Small business owners spend so much money on marketing their businesses, but the most powerful way to grow a business is through referrals. John Barron has a powerful plan to help you develop referrals which is why I have invited him back onto the Solopreneur Money podcast.  If you listened to episode 50 you heard John talk about the sales continuum and you learned how to implement an effective process that turns leads into paying clients. Today John is here to teach you how to grow your business through the referral engine. The referral engine is an ingenious plan that utilizes the way we naturally refer people to businesses.  You know the best clients come from referrals, so make sure to press play to hear how to increase your customer base by creating a referral system.  You will want to hear this episode if you are interested in... When to ask for a referral [2:32] 3 reasons someone wouldn't refer people to you [5:28] Referral engine success stories [13:39]  The money questions [17:01]  When should you ask for a referral? Business owners often wonder when the best time to ask a customer for a referral is. The answer is never. You might be shaking your head in surprise. Never? Well then, how are you supposed to get new clients? Just because you shouldn't directly ask for referrals doesn't mean you shouldn't go out of your way to encourage people to recommend your business; it means you should understand the referral relationship. Why we shouldn't ask clients for referrals If asking clients for a referral feels weird and uncomfortable that's because it is weird and uncomfortable! And it's weird and uncomfortable because of the nature of referrals. You don't want to put yourself or someone else through the awkwardness of directly asking for a referral. That doesn't mean that people don't enjoy referring their friends and family members to fabulous companies; everyone loves to recommend a fantastic company to a friend. However, it is important to understand that people don't recommend businesses to their friends to help the business; they do it to help their friends. To understand how the referral engine works it is important to understand why someone wouldn't refer potential clients to a business. 3 reasons someone wouldn't refer potential clients to your business People often don't recognize an opportunity for you. They don't know your target market. People don't know how to talk about you; they may not know why you are so great at what you do. They don't know all the services that you provide. There is a risk that comes with referring someone to a business. The referrer puts their reputation on the line.  How to get these obstacles out of the way The first two obstacles to overcome are educational. You can overcome these by simply educating your network about what you do and who you serve. One way to do that is by writing a letter--not an email, a physical letter. Listen in to hear what you should include in this letter. You'll be blown away by how simple this plan is. It is easy to implement and effective.  Every person you meet is either a potential client or a potential referral. Learn how to utilize your network to get your referral engine started.  Resources & People Mentioned Episode 50 - Sales Continuum Connect with John Barron Apollo Coaching John Barron on LinkedIn Email: apollocc.jpb@gmail.com Connect With Gabe Nelson www.GabeNelsonFinancial.com/contact FREE Downloadable Resources at https://www.gabenelsonfinancial.com/resources/ EMAIL: Gabe (at) GabeNelsonFinancial.com Follow Gabe on LinkedIn Follow Gabe on Twitter: @GabeNelsonCFP Follow Gabe on Facebook Follow Gabe on Instagram: @GabeNelsonCFP Subscribe to Solopreneur Money Audio Production and Show notes by PODCAST FAST TRACK https://www.podcastfasttrack.com

I received a phone call this week from a listener that I thought was absolutely crucial to share with my listeners. She had gone to a retirement seminar that I gave over 10 years ago. She didn't take my advice then and regrets it now. Why? Almost 11 years later, she's almost 76 and is looking for a part-time job to cover her expenses. What did I share in that seminar? Listen to this episode of the Retirement Made Easy podcast to find out!  You will want to hear this episode if you are interested in... [0:39] Check out the FREE resources on my website! [3:23] How to avoid being a Walmart greeter in retirement [11:15] What can we learn from this listener's situation? You must factor in how long you'll live This wonderful lady I spoke with had been retired for a year when she attended my workshop about retirement planning. The big thing that people don't realize is that the average age of the American retiree is 62. Imagine a 62-year-old non-smoking couple. How long will they live once they retire? Research shows that their joint life expectancy is 30 years. I pointed out in my seminar that you have to look at the past. What were prices like 30 years ago in1991? You need to understand that you're not going to be retired for only 5–10 years but more like three decades.  You need to be aware that the cost of living will always increase, even in retirement. While you're still working, income increases, promotions, etc. allow you to keep up with the cost of living. You may not even notice that the cost of auto insurance, cell phone bills, groceries, stamps, etc. is rising. When you retire, it's a whole different ball game. You are on a fixed income that will likely never increase. Your expenses will never be fixed for the rest of your life. Why you have to prepare for cost of living increases This Gal didn't realize she was setting herself up for failure. Her husband had a fixed $1,800 a month pension that didn't have a cost of living adjustment. The cost of living and inflation wasn't being factored in—and she wasn't prepared for it. Her property taxes are 80% higher than they were 10 years ago. Every item on her entire budget is far higher than they were. Now that he's passed, she only has her social security and his pension.  Even worse, she had invested her 401k very conservatively and it's grown very little (2% a year). Inflation has eaten away her fixed income. To offset inflation, she's drawn more and more from the 401k, which is now only growing at 0.1% of interest. She's having to draw 9% to supplement her lifestyle. Her account is shrinking by 8.75% per year. In 11.5 years, it will be completely depleted. She's applied for a job as a Walmart greeter to help cover her living expenses. Cost of living increases = the silent killer of retirement If you don't pay attention to where your money is going, how much you're spending, and the increasing costs of living you will be in trouble down the road. Nothing is scarier than being in your mid-70s and realizing you'll run out of money. What if you have to go back to work? How long will you have to go back to work? Can you cut expenses in your monthly spending? This listener has cut everything possible, short of groceries. Where did she make her fatal mistake? She should have invested her money so that it could exceed the cost of living. If the cost of living increases 3–4% a year on average, she would need to invest her savings so it's growing at a return of at least 3–4% to keep up. It would be even better if it was growing by 5–7%. If you want to make sure that you don't run out of money in retirement, you need to have a plan. I recommend that you start by listening to The Retirement Bucket Strategy, outlined in episode #24. Then you need to build a plan that keeps up with the cost of living. 30 years from now your expenses will be much higher. We will likely never see prices decline or flatline.  Resources & People Mentioned Episode #6: The Retirement Story Everyone Needs to Hear Episode #24: The Retirement Bucket Strategy  Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

The last big crash where the year ended down was 2008, with the market ending down 38%. Before 2008, 2000–2002 were three years where the market was down in the double-digits. If you retire at age 62 like the average person, you're expected to live another 30 years! That is 30 years where you will likely experience a market crash.  So what should you do when you experience a market crash during retirement? Do you jump out of the market and make your portfolio conservative until the coast is clear? Or do you wait out the storm? I answer this listener's question in this episode of Retirement Made Easy. You will want to hear this episode if you are interested in... [0:41] Answering Keith's question:  [2:50] Find out how to get a free Yeti Tumbler! [4:42] Step #1: Create and reference your retirement plan [8:33] Step #2: Use the bucket strategy for retirement planning  [12:10] Step #3: Stress-test your retirement plan [14:26] The biggest mistake that people make in a downturn Step #1: Create and reference your retirement plan If your goal is to retire at age 62 or 65, we must assume that you'll live 30+ years. You will experience a setback in the market. It's like taking a road trip from New York to LA. If you're traveling that far, the odds of hitting road construction are pretty high. So you must plan ahead and ask yourself, “What will I do if…?” Tom Hanks plays Captain Sully in the movie, “Sully.” He was flying a plane when two birds hit the engines. Both engines went out. The first thing he did was ask the co-pilot, “Give me the QR.” It's a manual that they reference in case of emergencies. Together, they determined they had to land the aircraft in the Hudson River. All 155 passengers survived because they had a plan in case of emergencies.  That's why we make a retirement plan for our clients. If the market crashes, you have a plan in place that will direct your steps through the crisis. How we set up someone‘s portfolio is based on the assumption that there will be a large market downturn at any time.  Step #2: Use the bucket strategy for retirement planning  If you've listened to previous episodes, you know I'm an advocate for the bucket strategy. To give you a quick recap, your portfolio should consist of three different buckets: Emergency fund: This should have 6–24 months of living expenses inside of it. This is short-term money that can't be risked in the stock market. This will help bail you out when you're hit with an unexpected expense. A tax-efficient retirement income: Bucket #2 provides the most tax-efficient income from your portfolio. This can include Roth IRAs, 401ks, or a brokerage account depending on the mix that makes sense for you. This is what you live on month-to-month. Your long-term growth-oriented bucket: We know the cost of living will continue to rise. Prices on groceries, gas, etc. rose significantly in the first half of 2021. It's rumored that the SSA will give their largest cost-of-living adjustment raises, effective 1/1/2022. This bucket is geared toward growth that will help you keep up with the cost of living. Each bucket has a different job. During a market crash, you could reduce some of the income in bucket #2 temporarily. You can do Roth conversions while the market is down.  Step #3: Stress-test your retirement plan You should stress-test your retirement plan to determine how a 30% or 40% drop in the market would impact your portfolio. Would your plan crumble? If you plan for these scenarios ahead of time, you are prepared for a market crash. The only thing you don't know is how long it will last. But we can look at historical crashes to gauge how long we need to plan for. You can't retire thinking you'll never experience a market downturn—or that you can keep doing the same thing. A lot of people retired in 1999. Let's say they had $1 million invested in the S&P 500 and were taking out $50,000 a year. The market was down the following three years. Then they experienced a large crash in 2008. This person would've run out of money by 2016 with 14+ years of retirement left. You can't let this happen to you. What is the biggest mistake that people make in a downturn? What is the worst thing you can do? Listen to the whole episode to learn THE best ways to handle a market downturn. Resources & People Mentioned Episode #24: The Retirement Bucket Strategy Social Security Administration Connect With Gregg Gonzalez Email at: Gregg@RetireSTL.com  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Does the thought of creating content for your business give you a headache? Many of us can't stand the thought of sitting down and producing content even though we know it will help our business grow. That's why I've invited Kris Hughes, a content strategist for solopreneurs, onto the Solopreneur Money show today.  Kris helps small business owners lower their customer acquisition costs, tell their brand story, and win back their content strategy. He's here to teach us how to tackle content strategy, overcome roadblocks, and gain traction to ensure that all that hard work will pay off in the end. Press play now so that you don't miss out on another day of content marketing.  You will want to hear this episode if you are interested in... Kris's story [3:22] What caused his transition [6:45] Biggest lessons learned from building his business [9:40] Mastering your content strategy in 30 min a day [11:22] The biggest roadblocks [15:25]  What is Clubhouse [16:33] What does it take to get traction [20:53] Finding your voice [25:52] The money questions [29:01] Landing that first client is the hardest part of starting a business After years of writing and working for others, 15 months ago Kris Hughes decided to strike out on his own and create a business helping solopreneurs learn from his expertise as a content creator.  Kris believes that the hardest part about starting his company was landing that first client. Kris isn't a natural salesman, so direct selling and outreach were tricky for him to get used to. He prefers creating organic content and expanding his network naturally which is why he teaches content marketing to other solopreneurs. What Kris has learned from building his business  There is a learning curve that comes with building a business and Kris has discovered a few takeaways after his first year out on his own. The first one is to make sure that to have a foundational client to provide a baseline income and gain traction as the business grows.  Another lesson Kris has learned is how to say no. Solopreneurs have a tendency to say yes to every client that comes along as they build their business, but not every client is a good fit. His advice is: if you recognize that someone may not be your ideal client, then just say no. He thinks it's important to think about the return on investment of your time. Ask yourself if this client is really worth your time.  Overcoming the obstacles to creating content Kris works with all kinds of clients and what he has seen is that most solopreneurs wear many hats. Solopreneurs are the CEO, CTO, CFO, COO and so much more in their company. Most of the time they feel like there's just no way they can create effective content on top of everything else that they do.  He has a few solutions to this problem. The first is to delegate. Rather than creating content on your own, you could hire someone else to do it. There are many spaces where you can find freelance writers to help create fantastic content so that you can concentrate on running your business. Contracting a freelance writer can help you publish consistent content and create a voice for your business. Listen in to hear where the best places and worst places to find freelance writers are. Another way is to dedicate 30 minutes per day to create the content that would best serve your business. Choosing the type of content depends on your business, your niche, and your personality. Once you find out what kind of content you want to create then keep at it. Content creation will not show results overnight. Just like your money, content creation creates compounding returns over time.  Kris provides us with so much information in this episode. You won't want to miss his tips on how to get started, how you can delegate, and how you can find your company's voice. Resources & People Mentioned Episode 20 - How to Take the Stress Out of Firing a Client ClubhouseGuide.com Gumroad Connect with Kris Hughes KrisHughes.com Leap Frog Collective Kris Hughes on LinkedIn @Kris_Hughes on Twitter @KrisHughes on Clubhouse Connect With Gabe Nelson www.GabeNelsonFinancial.com/contact FREE Downloadable Resources at https://www.gabenelsonfinancial.com/resources/ EMAIL: Gabe (at) GabeNelsonFinancial.com Follow Gabe on LinkedIn Follow Gabe on Twitter: @GabeNelsonCFP Follow Gabe on Facebook Follow Gabe on Instagram: @GabeNelsonCFP Subscribe to Solopreneur Money Audio Production and Show notes by PODCAST FAST TRACK https://www.podcastfasttrack.com

If you are like most people, you have spent the year running like crazy without looking back. On this episode of Solopreneur Money, I encourage you to stop and think about where you have been and where you are going. At the time of this recording, it is July, and that means it's a fantastic time to complete a mid-year review of your life and business. Listen in to discover a system that you can follow to complete a mid-annual review so that you can take stock of where you are and where you are going.  You will want to hear this episode if you are interested in... Your vision for your life and your business [2:12] Living the life you set out for yourself [6:20] Meeting your business goals [7:35] Checking in with your financial plan [10:52] Changes you can make to get you closer to your vision [14:53] 6 areas to review to stay on track to meet your goals There are 6 areas of your life that are important to review to ensure that you are on track to meet your goals. Consider each of these areas when completing your mid-year vision review.  Vision - Start with the end in mind. Where do you want things to go from here? Do you have a vision for your life and business? If so, then now is a great time to revisit it. If you haven't written it down, now is the time to start. I read my vision daily. This helps me stay on track to work toward my goals. I use this vision as a compass to guide me. Listen in to hear what you need to consider when creating your vision.  Life - Are you living the life you set out to at the beginning of the year? Are you taking the vacations you want? Are you working the hours you want? Are you spending enough time with your family? There are so many components to a happy life. Take a moment to consider each aspect. Think about the small changes you could make to optimize your life.  Business - Are you on track to meet your business goals? If not, why? Consider your expenses, profits, staffing, and systems. What do you need to change to meet those goals? What one thing should you focus on over the next 6 months to help you reach your goals? Remember, always begin with the end in mind.  Financial plan - How is your cash flow in your business and personal life? Has anything changed over the past 6 months? Have you made any large purchases? Have you paid off any debts or accrued any new debts? Do you have 6 months of emergency savings set aside? Are you on track to fund your retirement? There are many considerations to ensure that your financial plan is well-rounded. Listen in to hear them all.  Changes - What changes need to be made over the next 6 months? Layout your next steps.  Take action - Time to get started on the second half of the year. Put your plan into action and focus on one thing at a time to ensure that you stay on track to meet your goals.  Are you creating the life you really want? Schedule a time to meet with yourself every 6 months to work on this mid-annual review. When you do, be sure to listen to this episode again so that you don't miss a thing. I created this solopreneur podcast so that you could master your finances to create the life you want. If you think I have been helping with that, please leave a 5-star review on your favorite podcast app.  Resources & People Mentioned Episode 40 - Estate Planning for Solopreneurs Connect With Gabe Nelson www.GabeNelsonFinancial.com/contact FREE Downloadable Resources at https://www.gabenelsonfinancial.com/resources/ EMAIL: Gabe (at) GabeNelsonFinancial.com Follow Gabe on LinkedIn Follow Gabe on Twitter: @GabeNelsonCFP Follow Gabe on Facebook Follow Gabe on Instagram: @GabeNelsonCFP Subscribe to Solopreneur Money Audio Production and Show notes by PODCAST FAST TRACK https://www.podcastfasttrack.com

Are you a super saver? If so, you may feel like you are doing a lot of the right things to save for retirement, but you are not sure where to go next. Check out our Youtube channel for a short video recap: https://www.youtube.com/channel/UCw9vXJ3JyO-pHEcQ1p9O-Lw In this episode of Financial Symmetry, we explore the different ways to save for retirement outside of your 401K. You'll learn what each type of account is used for, how you should save in each one, when is the best time to save, and how to withdraw. Let's explore the various ways that you can save for retirement.  Retirement investment vehicles If you have been maxing out your 401K, you are ready to move onto the next step in retirement savings, but with so many different types of accounts to choose from, it can be hard to know which one to choose. All you have to do is learn about them to choose from the different investment vehicles. To make the various types of accounts more memorable, we are equating these investment vehicles to actual vehicles. Listen in to hear how to use the right set of wheels to drive you to retirement.  The health savings account  The health savings account can be compared to a Jeep Wrangler. Like the Jeep Wrangler, the health savings account has a specific purpose, but it also has added benefits. The purpose of a health savings account is to be used for medical expenses, however, it also has a triple tax advantage. You must be enrolled in a high deductible health insurance plan to qualify for a health savings account, but if you can use one, this is a fantastic way to save and invest for future healthcare expenses.  The backdoor Roth  The backdoor Roth is the Rolls Royce of retirement savings. Like the Rolls Royce, the backdoor Roth is unique and specifically designed for high-income earners. A regular Roth IRA maxes out at $6000 per year. With the Roth and the backdoor Roth, you will save so much in taxes that it will offset any fees that you incur.  The mega backdoor Roth The mega backdoor Roth can be compared to the Koenigsegg Gemera. Similar to the Koenigsegg Gemera, you may not have heard of the mega backdoor Roth. You'll need to buckle up to drive both of these vehicles because the mega backdoor Roth will turbocharge your retirement savings. The mega backdoor Roth allows you to contribute an extra $35,000 in a Roth. You won't see any tax savings upfront, but you will see it in retirement since this is a tax-deferred account. This account will provide a huge impact on your long-term saving for retirement. If you want to take your savings to the next level, check out the mega backdoor Roth. The brokerage account Many people don't even consider this account a retirement savings account, but like the trusty Honda Accord, a common brokerage account can be just as dependable. You can use a brokerage account like a super-charged savings account. Yes, there are more tax-efficient accounts, but the benefit of a brokerage account is that there are no restrictions which gives you more flexibility. If you feel restricted by the other retirement accounts, you may want to consider saving for retirement in a brokerage account.  You won't want to miss our last comparison, the DeLorean. Listen in to hear which type of account we compared to this unique car. Which investment vehicle sounds right for you?  Outline of This Episode [2:13] The health savings account [5:22] Backdoor Roth [9:05] Mega backdoor Roth [13:45] Brokerage account [17:27] The 529 account [20:08] The progress principle Resources & People Mentioned Episode 47 - Why Do I Need an HSA? Episode 91 - The Mega Backdoor Roth Tax Loss Harvesting in Bear Markets Cars with suicide doors The DeLorean Koenigsegg Gemera Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/  Connect on Twitter @csmithraleigh @TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts  Stitcher  Google Play

Have you ever been on your way to an epic summer road trip and then all of a sudden you come upon a roadblock? That can ruin the excitement you feel for the upcoming trip. This can happen in retirement as well. In retirement, you may confront roadblocks on your journey and if you don’t know how to maneuver around them it can leave you feeling stuck.  On this episode of Financial Symmetry, Allison Berger joins me to discuss 3 not so obvious retirement roadblocks that you may encounter along your retirement journey. We want to be your GPS so that if you experience them you can find your way around them without too much hassle.  Sequence of return risk  Your first years of retirement are so important when it comes to investment returns. Sequence of return risk is when you have several years of bad returns at the beginning of retirement when you are starting to withdraw your money. There is no way to control your market returns, but there are ways to mitigate this risk.  To combat sequence of return risk, you’ll need to maintain a balanced portfolio the way you maintain a balanced diet. Use the financial food groups! In retirement, you can no longer subsist solely on financial junk food (stocks). You’ll want to make sure that you have a healthy serving of vegetables (bonds and cash) thrown into the mix.  After maintaining a growth mindset in the accumulation stage of life by using mainly stocks, you may be hesitant to reduce your risk load in retirement. However, having a balanced portfolio can ensure that you won’t be forced to sell when prices are down.  Inflation You want to ensure that your money will be worth something in retirement, but inflation reduces purchasing power over time. We can visualize how inflation works by thinking about what the price of milk was 20 years ago. Inflation not only impacts the prices of goods but also impacts your retirement income. Even with the cost of living adjustments, your Social Security may not have the same buying power in 20 years.  Inflation is also known as the silent assassin. It is most dangerous for those who are overly cautious. To fight inflation you’ll need to make sure that there is some growth in your portfolio. You’ll need to take on some risk.  Unforeseen tax bombs  It is important to understand how different events can impact your taxes. The best way to combat unforeseen tax bombs is through multi-year tax planning. Most people are used to tax planning one year at a time, but retirement offers an opportunity to plan ahead. You can reduce your lifetime tax burden by thoughtful planning. Create your retirement road map If you put together a financial plan for retirement you’ll have a road map for the years ahead. In retirement, you’ll want to become flexible and look for opportunities. This is part of what we do with our clients. If you are interested in using us as your GPS to help you through those retirement roadblocks then check out our website and click Learn More. Outline of This Episode [3:07] Sequence of return risk can ruin your retirement [9:45] Inflation is the silent killer of retirements [14:14] Unforeseen tax bombs can derail your tax strategy [20:47] Today’s progress principle Resources & People Mentioned Episode 89 - Sequence of Return Risk Kitces article Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/  Connect on Twitter @csmithraleigh @TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts  Stitcher  Google Play

What are you investing for? Many say higher or better returns--but higher or better than what? What do those higher returns make possible for you?  Video recap: https://www.youtube.com/watch?v=tKC2ulw3cz8 To have a successful investment experience you need to have a plan in place. Mike Eklund joins me once again on this episode of Financial Symmetry to discuss our 3 step investing process. This process creates the guideposts for all Financial Symmetry clients. Listen in to learn why failing to plan means you are planning to fail.  Why do you need a plan? Have you ever thought about why you are investing in the first place? Before creating your investment plan you’ll want to set your goals. This way you can understand what kind of returns you need in order to achieve your goals.  We are all often guilty of the lottery mindset--that mindset that thinks if we could choose that one next big thing then we would be set. All we needed to do was buy Apple in 2000, or Tesla in 2012, or Bitcoin at $1000. But the reality is, successful investing requires a plan. Your investment plan can help you understand when to buy and sell or increase or reduce risk in your portfolio.  Our 3 step process At Financial Symmetry, we use a 3 step process to help our clients achieve their financial goals. Determine when you need the money. Will you need it sooner or later? When you need the money determines the amount of risk you can take. The longer you own stock the more the risk diminishes, so as investors, we are short-term pessimists and long-term optimists.  Have a plan in place. Having a plan means that you won’t have to react to market events. This is why the rules-based process is so important. Think about what you can control and implement the plan by using low-cost, high-quality investments. Whether you use index funds or active funds doesn't matter as much as how you plan.  Monitor your investment plan so that you can stay invested. Take advantage of opportunistic rebalancing and buy and sell based on your target percentage. Many people leave out this step but it is just as important as the other two steps.  5 things you can expect as a Financial Symmetry client You may be wondering what we at Financial Symmetry offer to our clients. Our clients can expect these 5 things from us. Our focus is to help you achieve your goals. We focus on long-term success over short-term results.  Clients can review their investments on a daily basis in the Client Center.  We know that communication is important, so we make sure to answer your questions. We understand that it's your money we are working with. We provide years of experience and do extensive research on all our investments.  We all invest in the same way as our clients. We can help you reach your goals What is your investment plan? Do you have a rules-based process? Investing is a lot like fitness. Everyone wants to start, but it can be hard to keep up. We can be your financial personal trainer and help you stay on track to reach your goals. We can make investing easier for you. If you don’t have the knowledge, experience, and interest to do this all on your own we can help. Outline of This Episode Why are you investing in the first place? [3:40] We follow a rules-based process [6:02] Monitor your investment plan [15:32] 5 things to expect as a Financial Symmetry client [18:21] The progress principle [23:25] Resources & People Mentioned Episode 118  Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/  Connect on Twitter @csmithraleigh @TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts  Stitcher  Google Play

Have you been on the fence about hiring a financial advisor? This indecisiveness can cost you. This episode will help you decide whether hiring a financial advisor is right for you. You’ll learn the 5 C’s that you can expect when hiring a financial advisor. Press play to find out what you should expect from your financial advisor. 4 reasons you may be looking for a financial advisor Have you been considering hiring a financial advisor? If so, then you may be seeking assistance in one of several areas.  Competence - You are looking for someone who knows more than you and is an expert in their field. Coaching - You may know quite a bit, but knowing and doing are 2 different things. A financial advisor can be like a personal trainer and give you the push you need to get things done.  Convenience -A financial advisor can do what you don’t have time for.  Continuity - You may want someone to help you coordinate with others for family or legacy planning.  Do any of these reasons seem familiar to you? Keep listening to hear what a financial planner can do to help you. What to expect from a financial advisor Collaboration - Your financial advisor will co-create a plan that serves you and helps you reach your financial goals. This should be a collaborative process between the two of you. In your first meeting, you can expect to be asked a lot of questions so that they can learn about you and your goals. You want your financial advisor to lead with a planning focused approach. If you receive a sales pitch instead, this should raise a red flag. Credentials - Many people are surprised to learn that you don’t have to have any qualifications to be a financial advisor. However, you may see a bit of an alphabet soup after a financial advisor’s name. It is important to understand what these letters mean. Are they real credentials or simply sales designations? Look for the gold standard CFP certification. CFA and CPA are two other certifications that may be relevant to your situation. Communication - You can expect regular communication from your financial advisor. They may set up a communication calendar with you to help you set expectations in communication. This regular communication will help you stay updated. Your advisor may also reach out to discuss tax opportunities, set goals, and to review progress. Listen in to hear what red flags you should look out for in your advisor communications. Compounding value - Are you better off after you pay your advisor than you would have been otherwise? This can be hard to quantify and may take a bit of introspection. Look at your return on life as well as the quantitative parts. Consider your investment returns, rebalancing, and tax deferral. If you think that your advisor is providing a free service then make sure to look for the hidden costs in your portfolio. A fee-only financial advisor discloses their costs upfront so that there are no surprises. If you are looking for a fee-only financial advisor you can find out more about our services at FinancialSymmetry.com. Outline of This Episode The 4 reasons you may be looking for a financial advisor [2:57] What to expect from a financial advisor [4:19] Your financial advisor should communicate with you regularly [14:51]  Is your financial advisor adding value to your life? [18:51] The progress principle [24:01] Resources & People Mentioned Episode 63 - Financial Acronymology, Decoded Episode 108 - What the CARES Act Means for You Episode 133 - Tax Planning with the New American Rescue Plan Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/  Connect on Twitter @csmithraleigh @TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts  Stitcher  Google Play

What would you do with an extra $80,000? I have a client that was trying to figure out exactly that. He had an extremely successful year and even doubled his revenue from 2019 to 2020. When he realized how successful his business had been that year he called me up and asked me to partner with his CPA to figure out how he could save on taxes. Listen in to hear his story and learn how careful planning could save you money.  You will want to hear this episode if you are interested in... Learning from 3 tax planning scenarios [1:22] How investing in your business could save you money [7:40] Your A-Team can help you come up with a plan The story I share in this episode is a lesson in planning. It also demonstrates the importance of having your A-team in place and ensuring that they communicate with each other. If you aren’t sure what an A-team is and how it is important to your business, check out episode 15.  Working with my client and his CPA we discovered the best ways for him to save on his tax bill. Not only were we able to do that, but we were able to do much more. Listen in to hear just how much more we could do! 3 tax scenarios  The CPA and I came up with 3 scenarios that we presented to our client. The options were: do nothing and leave everything the same as in previous years, do a bit of planning and save money, or he could do a lot of planning and save even more money.  Listen to this story to discover how he ended up with a new 4-wheeler, a new SUV, a fully funded retirement account, and cash on hand to tackle business expenses in the coming year.  Plan so that your extra money won’t be a burden Having leftover money is an awesome problem to have, but if you don’t plan how to use the money it could end up weighing you down. This is why it is so important to plan what to do with it -- especially when your business is successful.  Having an A-team in place and orchestrating their communication is what led us to come up with a plan so that he could explore a range of options. We were able to present him with these choices so that he could make the decision that was best for him and his business.  Do you have your A-team in place?  I love planning and helping my clients find ways to save money on taxes. Today you’ve heard an example of what I can do to help my clients. Are you ready to partner with a financial advisor? Do you think I have what it takes to be on your A-Team? If so, head on over to GabeNelsonFinancial.com and click start here. Let’s schedule a meeting to see if we’re a good match for each other.  Resources & People Mentioned Episode 15 - How to Find an A-Team to Help Your Business Thrive Connect With Gabe Nelson www.GabeNelsonFinancial.com/contact FREE Downloadable Resources at https://www.gabenelsonfinancial.com/resources/ EMAIL: Gabe (at) GabeNelsonFinancial.com Follow Gabe on LinkedIn Follow Gabe on Twitter: @GabeNelsonCFP Follow Gabe on Facebook Subscribe to Solopreneur Money Audio Production and Show notes by PODCAST FAST TRACK https://www.podcastfasttrack.com

There are many solopreneurs out there that think they are doing well but still cannot afford to scale and grow their business. Why? Lack of profitability.  In this episode of Solopreneur Money, I will show you exactly how you can price your services for value and profitability. You became a solopreneur to create a life you love. Learn how to ensure you are pricing your services correctly so that you can build the life of your dreams. You will want to hear this episode if you are interested in... Making sure your business is not a job [1:22] An example of profitability [5:36] Finding a guide to profitability [7:13] Is your business profitable? You didn’t quit your day job just to start another job, did you? As a solopreneur, you have the opportunity to take your business to the next level, but only if it is profitable.  Oftentimes, solopreneurs start their businesses as consultants. Many of these people left their day jobs to strike out on their own, but instead of charging what their old company did for their work, they decide to slash their prices to beat the competition. Sometimes they only charge half (or less than half) of what their old company did. What they don’t realize is that their business will never become profitable using this model.  Successful businesses use the ⅓ rule When you charge a low amount for your services you are only accounting for the job part of your business. You are failing to account for the business part. You must consider your expenses, salary, and profit if you want to create a successful business.  Successful businesses use the ⅓ rule. Of your total revenue, ⅓ should go to profit, ⅓ to payroll, and ⅓ to overhead. You can learn more about using the ⅓ rule by listening to episode 16. Understand proper pricing for your business To create a profitable business you need to have an understanding of how to price your services. To do this, examine your expenses and your goals to get a clear understanding of the true cost it takes to run your business. Think about your profit, overhead, and payroll. Price your services for value but also so that you can make money and grow your business. Ultimately, you are a solopreneur not to have a job, but to create the life of your dreams. Check out my FREE guide to profitability To help you understand how to properly price your services I have created this guide to profitability. Check it out to help ensure that you price your services for value and profitability. My goal is to help you discover how you can create a successful business so that you can live the life that you truly want.  Resources & People Mentioned Episode 16 - Take Action to Tackle Your Business Expenses How to Properly Price Your Services guide Connect With Gabe Nelson www.GabeNelsonFinancial.com/contact FREE Downloadable Resources at https://www.gabenelsonfinancial.com/resources/ EMAIL: Gabe (at) GabeNelsonFinancial.com Follow Gabe on LinkedIn Follow Gabe on Twitter: @GabeNelsonCFP Follow Gabe on Facebook Subscribe to Solopreneur Money Audio Production and Show notes by PODCAST FAST TRACK https://www.podcastfasttrack.com

Have you been offered an early retirement package? Video recap: https://youtu.be/jpIfdhYVx6Y Early retirement packages are on the rise. Companies are often looking for ways to cut costs and one way to do that is to give highly compensated employees an incentive to ease into retirement. Usually, these packages offer a one-time payment and sometimes they come with a period of additional healthcare coverage.  If you are offered an early retirement package many questions will arise. Is this a good deal? Is the package negotiable? What will I do about health insurance? And, of course, should I take it?  On this episode, Mike and I will give you the tools to create a framework to think about the questions that early retirement packages bring. Listen in to learn how to weigh this huge decision.  How does this early retirement package affect your long-term financial plan? Before you consider anything else you need to think about how this package fits into your long-term financial plan. Receiving a lump sum can give you a lottery mindset, so you’ll need to consider what is most important to you. How would this package fit into the bigger picture of retirement? This is a good time to ask a professional for help. If you are working with a financial advisor, you’ll definitely want to ask their opinion. A financial advisor can help you spot risks and opportunities that you may not have otherwise seen. Mike has some questions you may not have asked yourself about this early retirement package, so make sure you listen in to hear all the questions.  What about insurance? The main reason that many people decline an early retirement package is due to insurance. You may want to see if health insurance is a negotiable part of the package. Sometimes the company will offer to pay for your health insurance for a certain period of time.  You can also check into COBRA coverage which will guarantee you 18 months of health insurance coverage under your old plan--just be prepared for a bit of sticker shock.  Another way to cover your health insurance is to check into the ACA healthcare exchange. Be sure to weigh all of your healthcare options before signing the deal.  How will this influence your tax picture down the road?  So many tax opportunities pop up with an early retirement package. You’ll want to consider all the ways that you can save on taxes if you do decide to accept it. Do you have a health savings account? If so, make sure to max it out. Have you maxed out your 401K for the year? What about your company stock? If you are under 59 ½, where will your income come from? When do you plan on taking Social Security? Now is the time to plan how to build your ultimate retirement withdrawal strategy.  Ask yourself: what’s next? Will you be able to transition into retirement successfully? The answer to this may be dependent upon whether you are retiring from something or to something. This is why it is important to consider what’s next.  Will you relax on a beach somewhere, find another job, become a consultant, or try your hand at entrepreneurship? An early retirement package can bring about myriad choices, but you need to make sure that you are financially prepared to accept them.  Outline of This Episode [3:15] How does this decision affect your long term financial plan? [8:02] Health insurance often makes or breaks this offer [10:02] How will this influence your tax picture down the road?  [15:04] Ask yourself: what’s next? [17:43] Alternate scenarios [18:40] The progress principle Resources & People Mentioned Episode 91 - The Mega-Backdoor Roth Starting Over in Your 50s Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh@TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts Stitcher Google Play  

What are mutual funds? Why would you want to buy them? How can you buy them? These are just a few of the questions I’m going to answer in—drumroll please—a whole series about mutual funds. In this episode of Making Finance Fun, I’ll cover the mutual fund fundamentals: what they are, their history, why they were created, and more. If you’re interested in investing in mutual funds, do not miss this series! Outline of This Episode [3:11] What are mutual funds? [8:52] The history of mutual funds [11:02] Why mutual funds were created [15:13] The lowdown on modern Mutual Funds What are mutual funds?  According to Fidelity, Mutual Funds are “Investment strategies that allow you to pool your money together with other investors to purchase a collection of stocks, bonds, or other securities that might be difficult to recreate on your own.” It’s often referred to as a portfolio. The decisions to buy or sell funds are made by managers. It’s a gigantic pot of investments that someone manages that you can purchase. Why would you want to do this?  I don’t know how many publicly traded stocks are out there—but there are a lot. Trying to own a chunk to get a diversified portfolio is difficult. Even deciding what qualifies as “diversified” is difficult. Then you have to manage that portfolio. That’s a lot of time and mental energy. Mutual funds are a one-stop-shop for stocks, bonds, and other types of investments. You can buy one investment that does the work for you.  Think of your mutual fund as a public pool with lifeguards monitoring the pool. The people swimming in the pool are your investments. The lifeguards are the mutual fund portfolio managers. They watch over the investments and decide what to buy and sell.  What is their common purpose? And what is a prospectus? Listen to learn more! The history of mutual funds The first mutual fund was invented in 1924 and is still around today: the Massachusetts Investors Trust. It’s a stock mutual fund with 71 holdings in it (things like Microsoft, Google, Medtronic, J.P. Morgan, Apple, etc.) that includes a broad range of investments. It’s 26% technology, 18% healthcare companies, 11% communication, and 10% financials with a few other smaller categories. There are just under $6 billion in the fund with 3 portfolio managers.  WHY were mutual funds created? There are a few different reasons mutual funds were created:  It’s an easy way to diversify your investments in one fell swoop. You can get everything you’re interested in buying in one order. It’s convenient.  They offer professional management. They’re the lifeguards at the pool. They have access to resources and research to make decisions on what to buy, hold, or sell. You unload the decision-making to someone else. A mutual fund offers liquidity and convenience. It’s easy to buy and sell online. I haven’t heard of anyone who couldn’t sell their mutual funds.  What Modern Mutual Funds look like As of right now, there are approximately 7,945 mutual funds to choose from in the United States alone. The total investment in mutual funds in the US is over $21 trillion (as of the end of 2019). To put that into perspective, the entire US economy is somewhere around $20 trillion. There’s more money sitting in mutual funds than the US economy. It’s mind-boggling.  What can a mutual fund look like? There are stock mutual funds, bond mutual funds, real estate mutual funds, alternative investment funds, sector mutual funds (i.e. technology or consumer staples), and much more. There’s probably a mutual fund for any sector you can think of.  Should you buy mutual funds? How do you choose a mutual fund? Which one is best for you? What are the common fees? To learn more, listen to the whole episode. You can also learn more by subscribing and follow along through this special series on mutual fund fundamentals.  Resources & People Mentioned Episode #31: Choosing Between Mutual Funds And ETFs Number of mutual funds in the United States What are Mutual Funds? Massachusetts Investors Trust Total net assets of US-based mutual funds Connect With Rockie Website On Twitter: @AnxiousAdvisor On LinkedIn Subscribe to the show on the app of your choice Show notes by PODCAST FAST TRACK https://www.podcastfasttrack.com

Every 4 years it happens: an election comes along and threatens everything. Or so it seems. Video recap: https://youtu.be/7SkvyKEXH6s Regardless of how you feel about the candidates, we’re here to discourage you from making fear-based financial moves. Learn how to overcome your emotions so that you don’t derail your careful long-term investment strategy.  The media won’t help you achieve your financial goals It’s hard to get away from the drama of the election coverage. It’s everywhere you look: on the TV, in the newspapers, and even from the notifications on your phone. This kind of round the clock, in your face news coverage can heighten your anxiety about the state of the world and even make you worry about your investments. It is important to remember that the media is not there to help you. Its goal is to sell advertising, not to help you achieve your financial goals.  While 2016 may seem like a distant memory, many investors were concerned at the time that a Trump victory would surely tank the stock market.  We fielded a lot of calls leading up to the 2016 election discussing if a more conservative approach should be taken, at least until we had more certainty. While Trump’s victory was a surprise to many 4 years ago, it certainly was not devastating for the stock market.  In fact, the S&P 500 with dividends returned 21.83% in the following calendar year of 2017.  Investors who moved into cash to await more clarity would have swiftly regretted their decision.  Check out the chart linked below which shows annualized returns for each president dating back to 1969 with the red and blue bars depicting results for Republicans and Democrats. www.financialsymmetry.com/how-should-i-position-my-portfolio-before-the-election How to stay focused on long-term financial results during an election year Staying focused on your long-term financial goals can be a challenge when the short-term seems so uncertain. People often feel tempted to time the market when the world feels up in the air. It’s important to remember that the market is influenced by many other events, not solely the election. So even if it seems that the election is the only thing going on, you need to stay focused on your long-term financial goals, stick with your investment plan, and avoid market timing. Focus on the facts to help you through uncertainty One way to help you stay focused on your long-term financial goals is by looking at the facts. If you were thinking that this might be a good year to sit out the stock market, you may want to think again. On average, the stock market return in an election year is 11%, which is well above average. Another surprising fact is that it doesn’t matter to your portfolio who is in the White House. There is actually no correlation between stock market performance and which party leads the country. Listen in to find out which two presidents saw the same economic growth during their first three years in the Oval Office, the answer will surprise you. Focus on what you can control In investing, there are many factors that are beyond your control. However, that does not mean that your entire financial life is uncontrollable. Actually, the factors that you can control have a lot more to do with your financial success than which investments you choose. Think about all you can control: your cash flow, when you need money, when you stop earning income, what your income sources in retirement will be, how you pay for healthcare, and your estate planning. These controllables are much more important to your financial well being. Outline of This Episode [1:42] We go through this emotional roller coaster every 4 years [7:35] Sometimes the best thing to do is nothing [10:24] Have an investment plan and stick with it [13:14] Focus on what you can control [14:44] Today’s progress principle Resources & People Mentioned Episode 118 Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh@TeamFSINC Follow Financial Symmetry on Facebook

2020 has been a year of change. The pandemic has given people an opportunity to rethink their lives and many have been rethinking their career. Video recap: https://youtu.be/0RCME_Y8bdI Whether you are one of the millions of people that have been forced into a job change or whether you are considering a professional pivot on your own, there is a lot to think about when changing jobs. On this episode, Grayson Blazek and I will walk you through all the considerations when taking on a new job. If you are rethinking your career listen in to hear how you can take advantage of your human capital.  Think about the total compensation not just the salary Often when we consider a job offer there is only one number we look at. But there is more to a job than the base salary; it is important to consider the total compensation. The base salary helps you plan your monthly expenses but understanding the bonus and stock compensation is also important.  When thinking about the bonus structure of a potential job you’ll want to consider the target. Ask what the confidence in that target is. You’ll also need to understand how the bonus incentive works. How often does it payout? Is the bonus based on your personal performance or on the performance of the team? Some other financial considerations are the stock options and the sign-on bonus. That hiring bonus can be enticing, but don’t let it cloud your judgment. Remember a hiring bonus is only a one-time payment.  Consider the benefits package When comparing job offers you’ll also want to compare the benefits package. Make sure to request an employee benefits brochure if they haven’t given you one. The benefits package is often seen as secondary to the financial compensation but those benefits can add a lot of value to your life. First of all, you’ll want to consider the healthcare plan. Does the company offer one? How does it compare with your current plan? How much of the plan is covered by the employer? Do they offer an HSA? Healthcare isn’t the only benefit to consider. What about life insurance and disability? Does the company offer a student loan repayment program? How about a fitness membership. Consider the entire benefits package and how it could add value to your life.  What is the retirement plan like? In addition to the health benefits and salary, you’ll also want to investigate the retirement plan that comes with this new position. Do they offer a 401K? Will they match your contribution? What are the plan costs? What about vesting, will you actually realize that vesting period? Do they offer other ways to save for retirement? Your human capital is one of the biggest assets you have and the way you spend it will greatly impact your financial future. So when considering a job transition, there is much more to think about than the base salary. Tune in to this episode to discover all the details you need to consider when evaluating a job change. Outline of This Episode [2:50] Think about the total compensation not just the salary [8:30] What is included in the benefits package? [13:42] What is the retirement plan like? [20:22] Does the position include an employee stock purchase plan? [24:31] What about the flexibility factor? [27:54] Consider all your details Resources & People Mentioned Episode 97 - How to Make Decisions About Your Equity Compensation Plans Episode 47 - Why Do I Need an HSA? Episode 91 - Your Retirement Secret Weapon Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh@TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts Stitcher Google Play

Today we're taking a deep dive to explore the retirement changes within this landmark piece of legislation. On this episode, you’ll learn what CRD’s are, who are qualified individuals, and how to note CARES Act withdrawals on your tax return. Join us to hear about financial opportunities that you may not have considered. Short Youtube video recap: https://youtu.be/2QjSpi3op_U What is the purpose of the CARES Act? The CARES Act was recently passed to help Americans get through this difficult time that has been filled with job losses, furloughs, lay-offs, and the mandatory closing of workplaces. The goal of the new law was to make it easier for citizens to access their money during these stresses. The CARES Act makes retirement account withdraws easier and more accessible without the standard early withdrawal penalties. What are Coronavirus Related Distributions (CRD’s)? Coronavirus related distributions or CRD’s allow for qualified individuals to take up to $100,000 from their retirement accounts during the period of January 2020 to January 2021. This withdrawal for qualified individuals is taxable but you can pay the taxes on these withdrawals over a period of 3 years. It’s easy to remember what the CRD’s offer by thinking of the 3 R’s.  Relief - The CARES Act offers relief from the standard 10% penalty when you pull money from an IRA or 401K. Repay - You can repay the withdrawals over a 3 year period.  Regimented - The taxes from these withdrawals are regimented and can be paid over a 3 year period.  Who are qualified individuals? The CRD’s are only available to qualified individuals, but who exactly can qualify for these withdrawals? You can qualify if you or your spouse has been diagnosed with COVID-19 or if you have experienced a loss of income during this time. You may have experienced a job loss, a reduction of hours, or an inability to work due to lack of child care. If you do qualify for a CRD you’ll want to examine all of your options before you make this choice. Make sure to work with a professional to see if this is the best choice for you.  This year you do not have to take an RMD The government doesn’t want to force you to sell your stocks at lower prices, so for 2020 RMD’s will not be required for anyone. If you have already taken your RMD for the year you can even pay it back. Listen in to learn how. Instead of taking your RMD, you may want to consider doing a Roth conversion.  Outline of This Episode [1:27] $100,000 withdrawal for qualified individuals [4:46] Examples of how to use your withdrawals [5:55] Who are qualified individuals? [8:00] This year you do not have to take an RMD [13:10] Make sure to note the CRD on your tax return Resources & People Mentioned Episode 108 Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh@TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts Stitcher Google Play

Have you ever heard about penny stocks? Are you wondering what they are and if you should be getting in on that action? We’re covering everything about penny stocks in this episode of Wealth by Design, so buckle up. Warning: we do not shy away from our opinions about penny stocks in this episode!   WHAT YOU’LL LEARN [01:20] What is a penny stock? [03:01] How Dustin was introduced to penny stocks [06:10] The reality of Dustin’s dot com story [08:19] Common misconceptions with penny stocks [09:54] The type of investment strategy you should have [10:34] Why penny stocks exist [12:10] All about pump and dump scams (yes, like in The Wolf of Wall Street) [14:22] Our final verdict on penny stocks   What Are Penny Stocks? Penny stocks, as their name implies, are stocks that trade for less than $5 per share. You’ll find lots of penny stocks that cost less than a dollar or even less than a penny. Of course, that’s part of their appeal. These cheap stocks seem attractive when compared to companies that trade at much higher amounts. But you may have heard people (or “influencers”) talking about how they’re making money fast on penny stocks and you may be wondering if you need to get in on the scheme. We’re here to talk you down. The Draw of Penny Stocks In this episode, we mentioned the “viral” factor when it comes to penny stocks. It might seem like everyone around you is talking about a specific penny stock and making money on it. Eventually, you start to feel the pressure. Should you become a ground floor investor? Will you hit it big with this underdog company? It’s natural to feel that adrenaline rush when you think you may have discovered a “diamond in the rough,” as we described it. But we’re going to play devil’s advocate for a moment and bring you back to reality. A good long-term investment strategy should never make you feel pressured into buying anything. Investing should never feel like a potential lottery win. You want an investment strategy that’s stable and disciplined, not one that’s volatile and hard to research. That’s what penny stocks are, however, and those are huge red flags. If you hear your friends, coworkers, or acquaintances talking about “the next big thing” in stocks, be wary: it might be a pump and dump scam. (You may have heard of pump and dumps in 2013, thanks to The Wolf of Wall Street movie based on the real-life Wolf of Wall Street, Jordan Belfort.) Be on the lookout for penny stocks that seem like they’re on fire at the moment. That’s a pretty good sign that they’ll burn out quickly, and that they’re actually worthless.  How Penny Stocks Actually Work We hear you wondering: “If penny stocks are so unpredictable, why does anyone even invest in them?” We’ve already talked about why people might take a chance on penny stocks: the FOMO, the rush of adrenaline, and the desire to feel like you’re a ground floor investor in an underdog company. Now let’s look at the company side of things. Penny stocks are not arbitrary. They may be companies that have failed and are now actually worth pennies. Companies that have failed but still have some type of worth tied up in their business, like tons of land, for example. On the other hand, companies may start out as penny stocks, which can be even worse!  Companies who start out as penny stocks can manipulate their price purposefully to skirt regulation. Penny stocks are called “over-the-counter stocks” since they don’t trade on a regulated exchange, like the Nasdaq or New York Stock Exchange. Instead, they’re traded in an OTC exchange. And when you’re dealing with companies who manipulate prices and skirt regulation, it’s the Wild West out there, as Dustin put it. It’s a lawless place that you should avoid. Our Final Verdict on Penny Stocks Technically, we’re not allowed to give specific investing advice. But we made an exception for this topic. How do we feel about penny stocks? DON’T. BUY. THEM. You’ll hear us get pretty emphatic about this in the episode.  Buying penny stocks is the opposite of the kind of investing strategy we want you to have! We want you to have a diversified, disciplined, long-term investing strategy. You won’t find that with penny stocks. Just don’t do it, folks.  This material is for general information only and is not intended to provide specific advice or recommendations for any individual.   Resources & People Mentioned Episode 104: The Laws of Human Nature  The true story behind The Wolf of Wall Street One of our many resources: A blueprint guide to wealth The Toujours Planning Quiz — Are we a good fit for your financial planning needs?

Will your retirement regrets list be full of "I wish I would have...?" What if you could use regrets of other retirees to change or improve your current course? Short Youtube Recap here: https://youtu.be/CiGxXeem2yI Listening to the wisdom of those that have gone before you, can help you avoid their big mistakes and take advantage of financial opportunities you may have missed. In our role as financial advisors, we have the unique opportunity of hearing a long list of retirement regrets. In listening to their perspectives, we gain an understanding of the path they took and the things they wish they could have done to prepare for retirement. In this episode of the Financial Symmetry podcast with Chad Smith and Allison Berger, we break down the top retirement regrets that investors typically experience. Listen in so you can learn from others and ensure that you don’t make the same mistakes they did. 9 Avoidable Retirement Regrets I wish I had a detailed retirement plan. 3 out of 4 baby boomers don’t have a detailed retirement plan. Without a retirement plan, it makes it hard to anticipate what may come next. You'll need to consider those big purchases, how often will you buy cars, and if you are going to move. Life can feel much more uncertain in retirement, without the dependability of a steady income you’ve relied on your entire working life. Without a plan, opportunities could be passing you by each year. I wish I hadn’t planned to work so long. There are many people who plan to work until age 70, but due to unforeseen issues, they had to stop working before they were ready. Some had to stop due to family illness, layoffs, or forced early retirement. Whatever the reason, running what-if scenarios could leave you more prepared to face the unknown risks that are lurking. I wish I would have started saving in a tax-free account earlier. An often overlooked strategy while saving, is your lifetime tax rate. By focusing on tax-free savings, it creates flexibility for future retirement withdrawals. There are many that think they can’t take advantage of a Roth IRA due to having a high income, but there are options. Back-door Roths, after-tax 401k savings and HSA's all offer other opportunities. We've included past detailed episodes on all three in the links below. I wish I didn’t have such a big house. Many people become enamored with the idea of a mansion. So much that they sacrifice saving in retirement accounts. More expensive homes require more expensive upkeep. The social pressures in higher priced neighborhoods cause extra lifestyle creep. Years pass, and you realize savings isn't where you thought it would be. Once reaching retirement, downsizing becomes the new trend but moving is often delayed due to frustrations of moving and decluttering their homes. I wish I hadn’t worried so much about market drops. The idea that you could lose half of your savings is scary. There is always a reason you should not invest, but inflation is the silent killer that awaits you, if you don't. Finding the appropriate risk is vital to helping you sleep at night. Research shows a tremendous difference when missing the best days in the market. So while timing market drops is tempting, a buy and hold strategy with appropriate percentages of risk is your best bet. I wish I hadn’t counted on rental income. Be careful about counting on rental real estate if that is your plan. Assure you are factoring in all expenses to your calculation with forecasting returns on rental real estate. Appreciation rates will suffer, if proper maintenance is not kept up on properties. This could affect the long-term health of your financial plan. I wish I would have invested more in friendships. Think intentionally about how you will spend your time in retirement. Many people end up socially isolated in retirement. Retiring to something vs. from something can add to happiness levels and improve your odds of a successful retirement with less regret. I wish I hadn’t taken Social Security so early. Delaying Social Security can be a benefit in multiple ways. An alarming amount of people (57%) take Social Security before their full retirement age. This decreases the amount they could receive and provides more tax flexibility. Less guaranteed income, provides for more IRA/401k withdrawals at lower tax rates potentially.  If you are married, you might also consider the survivor benefit element. Listen in to hear details of the benefits of delaying your Social Security. I wish I had had more experiences. Many wish they had traveled more while they were healthy or while their kids were still at home. Too many look back with the regret of waiting to late to travel. Outline of This Episode [3:07] I wish I would have had a detailed plan earlier [5:06] I wish I hadn’t planned to work so long [7:07] I wish I would have started saving in a tax-free account earlier [10:30] I wish I didn’t have such a big house [12:47] I wish I hadn’t worried so much about market drops [17:45] I wish I hadn’t counted on rental income [20:33] I wish I would have invested more in friendships [22:45] I wish I hadn’t taken Social Security so early [26:00] I wish I had had more experiences Resources & People Mentioned Episode 47 - Why do I need an HSA? Episode 101 - The Social Security Tax Bubble Episode 22 - Don’t Fail in Retirement Episode 36 - Money Can Buy Happiness Episode 91 - Your Retirement Secret Weapon: After Tax 401k Article - High Earners Can Still Save in a Back-door Roth IRA Nerdwallet - How to have a "no regrets" retirement BOOK - The New Retirement Mentality by Mitch Anthony Book - Your Retirement Quest by Alan Spector BOOK - Happy Money by Elizabeth Dunn The Financial Symmetry Podcast is an original podcast from Financial Symmetry in Raleigh, NC. To learn more about the show or the past 104 episodes, visit https://www.financialsymmetry.com/retirement-podcast/. Connect with us here: Allison Berger on Twitter @AbergerCFP Chad Smith on Twitter @csmithraleigh@TeamFSINC Follow Financial Symmetry on Facebook Subscribe to this Podcast: Apple Podcasts Stitcher Google Play  

Are you in the Social Security tax bubble? Tax rules are complicated enough, and Social Security benefits during retirement years add another layer of complexity. Watch corresponding Youtube video here: https://www.youtube.com/watch?v=0RnQY0NxhSM&t=39s Your Social Security income can cause your actual tax rate to be much higher than expected. Not understanding how and when Social Security benefits are taxed can lead to an unpleasant surprise when Uncle Sam comes calling. You’ll also learn why multi-year tax planning is so important in retirement.  How should you decide when to take Social Security? If you are approaching age 62 you may be considering when to take Social Security. It can be tempting to take that low hanging fruit as soon as possible. But we often recommend that you delay taking your Social Security benefit for as long as you can. If you don’t take Social Security early then you need to think about how you’ll make enough money to cover the costs of your lifestyle. Do you have IRA’s, 401K’s, or even an old-fashioned pension? When planning your retirement income you’ll also want to think ahead to age 70 ½ when you’ll have to take the required minimum distribution or RMD. Have you decided when to take your Social Security benefit?  Social Security tax bubble or tax torpedo? Your Social Security benefit can be taxed like any other income source. But there is a way to determine if and how your benefit will be taxed. You can use a special calculation that is determined by the IRS. To do this, add up your taxable income and add half of your projected benefit. If it is over a certain threshold then it will be taxed. You’ll need to be careful when determining your income since tax rates increase slowly and then suddenly jump from 22% to 41%. You don’t want those taxes to torpedo your retirement planning. Listen in to find out how to plan ahead. It pays to plan ahead Sure, you want to pay the lowest amount in taxes each year, but retirement tax planning is a bit more complicated. You’ll want to consider your lifetime tax bill. You don’t want to pay 0% in taxes this year only to be stuck with a 24% tax bill next year. You’ll want to have a comprehensive retirement plan which considers when to take out more money for those big-ticket items that will inevitably come up. With a little bit of planning, you can spread your tax burden out over multiple years. You also need to consider that your 60’s provide you with a unique opportunity to name the income that you won’t have in your 70’s. Discover why your 60’s may be the most important tax planning decade by listening to Will Holt’s tax expertise.  Understand all the tax opportunities and risks that are out there There are plenty of risks involved with retirement tax planning but there are also lots of opportunities to save on taxes as well. One tax opportunity you shouldn’t miss is topping out your tax bracket with Roth conversions to help minimize your RMD once you turn 70 ½.  If you are planning to retire early the Affordable Care Act could throw you another curveball. It is important to understand the income levels needed to qualify for the subsidies available. There is a lot to consider when in retirement tax planning.  Financial Symmetry is a Raleigh Financial Advisor. Proudly serving clients by providing financial planning to the Triangle residents of North Carolina for 20 years. Outline of This Episode [1:27] When should you take Social Security? [4:12] A brief overview of the Social Security tax bubble [9:00] Why you should not only consider this year’s tax bracket [13:22] Can you change your mind when to take Social Security? [15:44] Why would someone take Social Security early? [17:32] What are other considerations? Resources & People Mentioned Episode 99 Connect with Will Holt Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh@TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts Stitcher Google Play

Who you gonna call? Retirement Mythbusters! Short Youtube recap here: https://bit.ly/2R0QJcA Visit Full Article Here: https://wp.me/p6NrVS-3g5 Not as catchy as Ghostbusters, we know, but these retirement myths can be much more hazardous to your long-term financial health. Many of us have certain beliefs, internet rumors or family hearsay that are passed down about retirement rules of thumb. But believing in these stories could be detrimental to the long-term success of your retirement. On this episode, we do our best Mythbusters imitation (of Discovery Channel fame) to bust these common retirement myths. Listen in to hear why you may want to challenge conventional thinking, and discover what it could cost you to continue to buy in to the hype.  8 common retirement myths I’m not going to live that long. So many people don’t think they will live until age 90. But the truth is, men who are 65 today have a 20% chance of living until 90 and women have a 33% chance. Couples have a 48% chance of one of them making it to age 90. You need to make sure your money will last as long as you do. Does your financial plan cover you until age 90? I’ll work until age 65. The actual median retirement age is 62. Many people plan to work longer, but they are forced into retirement early. Some people try out a second act. Whenever you do choose to retire, be sure that you are retiring to something, not away from something. Do you have big plans for your retirement?  Social Security will run out. Some people use this myth as an excuse to claim their Social Security benefit early. But claiming Social Security below your retirement age greatly reduces your lifetime benefit. If you delay until age 70 will result in an 8% increase per year! Once I reach X amount of money I can retire. The reality is that everyone’s situation is different. There is no magic number! There is so much more to retirement planning. What magic retirement number did you have in mind? Paying the lowest amount of tax is always best. Are you trying to be too tax efficient? Think about optimizing your tax situation rather than minimizing your taxes. Consider working with a financial planner and an accountant to help you consider long-term tax planning.  When I retire my investments should be conservative. This isn’t always the case. People are living longer than ever so you may need your investment portfolio to last you 30 or 40 years. There is actually a bigger risk of being too conservative rather than risky.  I need to pay off my mortgage now. A mortgage is the cheapest money you can get in a loan. So not paying it off and investing the difference actually makes more sense financially. But for some people paying off their mortgage provides them with peace of mind. Which camp do you fall into? Would you prefer the peace of mind that a paid-for house provides? Retirement spending is the same throughout retirement. Retirement planning is more complicated than you think. Your spending in retirement changes throughout the years. In the first 5 years of retirement, people spend a huge amount of money. You may spend it on travel, fixing up your home, eating out, or whatever it is that interests you. You finally have the time to spend all the wealth that you have built. Then spending slows down as you do. Unfortunately, retirement spending tends to increase the older you get, but this time it’s on medical expenses. Have you planned to spend the same amount each year in retirement? Financial Symmetry is a Raleigh Financial Advisor. Proudly serving clients in the Triangle of North Carolina for 20 years. Outline of This Episode [2:47] I’m not going to live that long [5:30] I’ll work until age 65 [9:22] Social Security will run out [13:12] I can retire after I have $1 million saved [15:10] Paying the lowest amount of tax is best [18:00] When I retire my investments should be conservative [21:00] I need to pay off my mortgage now [23:55] Retirement planning is more complicated than you think  Resources & People Mentioned Episode 52 BOOK - The New Retire-Mentality by Mitch Anthony BOOK - Your Retirement Quest by Alan Spector and Keith Lawrence Article – Starting Over in your 50’s – What to do when you’re laid off Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh@TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts Spotify  Google Podcasts

A specific lead nurturing strategy results in a bigger audience, which equates to more revenue. Nurturing your audience never stops. You have to build automation and processes to succeed in the eCommerce world. But don’t make the mistake of coming up with a complex system. When a complex system breaks, it’s difficult to figure out how to fix it. Some of the best systems are very simple. Listen to this episode to find out the strategies I’ve used to grow my audience and my business. Find out the best equation that results in higher revenue When you’re nurturing an audience, you’re trying to build goodwill and community. There’s a specific equation I like to use to explain how this works best: audience X goodwill X number of offers = revenue The size of an audience is the community you’ve built. The goodwill is the bond you’ve made with that audience. We all buy from people who we know, like, and trust. How much do they know, like, and trust you? With making offers, you don’t want too little or too much. The result is the amount of revenue you make from those three factors combined. Use this equation to help you remember the importance of building your audience and goodwill. You won’t be disappointed when you watch your revenue increase.  Why Q4 is the time to capitalize and build your audience Right now is the time to build up your audience and goodwill. It’s easier in the fourth quarter because the price of getting that audience is going up. You don’t want to have to pay premium prices to reach them. That’s why it’s vital to focus on the relationships you already have. People are already in the shopping mode so start now. Listen to this episode to help you define your unique selling proposition that will not only build your audience but boost your sales.  Define your lead nurturing strategy to build community I recently heard a speaker who did a good job building community. His methods are a good strategy for you to follow and implement. He told stories and used humor. He also “baked in” his propositions. This is KEY. Don’t forget to first define your five propositions: Unique selling proposition Unique value proposition Unique experience proposition Unique safety proposition Unique irresistible offer You MUST define these and use them every chance you get. In this episode, I tell you detailed steps on how to do this. Don’t miss out on this great opportunity. How to get the most out of what you already have Start with what you already have. If you only have ten emails - treat them like gold. When you have a small customer list, it’s easy to call each one or write them a personal note. This is the momentum you need to propel your business forward. Let me show you how to get the most traction when you start to build your audience. In this episode, I give step-by-step strategies on how you can make the most out of what you already have. Outline of This Episode [1:28] Don’t miss out on opportunities to grow your eCommerce business [4:47] Find out why this fourth quarter is the prime time to build your audience [7:44] What’s the best strategy to build community? [11:32] How to get the most out of what you already have [14:22] Why reaching your problem-aware audience is key Resources & People Mentioned Episode 78 - Unlock The Secret To Success With Customer Follow Up Connect With Bryan Bowman Bryan’s website: https://www.ecomunderground.com/ On Facebook

You’ve heard us talk about housing. You’ve heard us talk about transportation. Now, we’re talking about life. Not like the heavy “What is life?” stuff… just the money side of it. Do you know how much you spend on “life,” i.e. dining out, clothing, Netflix and chill sessions, vacations, etc.? Do you ever wonder if you should really be spending that much money on yourself? You’re not alone. That’s why, on this episode of Worth It, we’re talking about the “life” category of your spending: how much you should be spending… and how much you should be saving.    WHAT YOU’LL LEARN [00:41] What is included in the “life” category of your expenses [03:41] Why it’s so easy to spend more as you earn more  [05:20 The concept of business longevity  [06:42] What’s happening in our generation when it comes to saving/spending [07:36] What the Law of Attraction has to do with your finances [09:18] How abundance and scarcity mindset affects your “life” spending [10:23] The risk of “abundance mindset” as it relates to overspending [12:13] Whether you have a “wealth mindset” or a “money mindset” [12:51] Why wealth-minded people aren’t afraid of running out of money  [13:52] How to create a wealth mindset [15:02] What the BULB process is  [15:14] How much you can spend (after saving)   THE IMPORTANCE OF LIVING WITHIN YOUR MEANS Before we dive into how much you should be spending on “life,” we want to talk about what’s actually driving you to spend. As successful biz owners and entrepreneurs, we know you’re #killingit, but that can also mean you’re tempted to get it while the gettin’ is good. That means more trips, more shopping sprees, and more “Sure, I’ll loan you that money for your startup!” All of that is great, and has its place… but only if you’re saving and investing what you need to create long-term wealth and stability. That’s why the first thing we talk about in this episode is considering your relationship with spending now so that you can have wealth in the future. Are you saving (and giving) 25% of your income? Do you have a Backup Life Bank like we talked about in Episode 63?   Remember: Your Backup Life Bank is 25x your minimum income requirement. If you need to make $80,000 a year to get by, you’ll need about $2 million in your BULB.   Of course, we’re not saying you have to set aside 25% of your income AND have $2 million in the bank before you can have any fun. We’re just saying the amount of money you can reasonably spend on “life” is subject to how much you’re really setting aside. Once you’ve started saving a quarter of your income and are working toward your BULB, what you spend on life is up to you (within your means, of course). That’s why we also talked about your mindset… because that really affects how much you’re spending and saving. Plus it’s, like, totally #adulting.   How to create a wealth mindset As adults, we have to do a few things we’re not super excited about. Like floss every night and clean the kitchen. We also have to spend money on things that don’t “spark joy,” as Marie Kondo says. So no, we can’t just spend all our money on avocado toast and Teslas. We also need to consider our future, our businesses, and what we’ll do if things don’t always go as well as they’re going right now. That’s why we talk a lot about mindset on this episode. Because, once you have the saving thing down, you can spend as much as you (reasonably) want. But how do you know you’re spending on “life” in the right ways? You spend in alignment with your values, visions, and goals for your life and money.  Sounds easier said than done, right? In this episode, we talk about how to embrace a wealth mindset (rather than a spending mindset) and even offer one of our tools to help you get there. Use our Vision Worksheet to figure out if your life’s expenses align with your true values, visions, and goals — and to get clear on what you want your money to do for you, so you’re not spending in areas that make you go “Why the heck did I buy that?!”   A FINAL NOTE This episode isn’t about telling you what you can and cannot spend your money on. However, we are firm believers that you should be spending well within your means. If you’re not reaching that 25% savings goal, nor have you started your BULB, those should be goals of yours before you start spending more of your hard-earned cash. Until then, live within your means and really think about what’s important to you. Sure that trip or designer bag sounds great now, but is it really more important than security and wealth in the future? If you’re wondering how much you should be saving, spending, or putting in your “backup life bank,” this is the episode for you. And if you’re wondering how to manage the money so you can spend, save, and do all the things, you can always contact Toujours Planning to see if our financial planning services are a good fit for you.   This material is for general information only and is not intended to provide specific advice or recommendations for any individual.   RESOURCES & PEOPLE MENTIONED Episode 63: Self-Employment + Retirement: Work-Optional Lifestyles Vision Worksheet inside our Resource Vault The Toujours Planning Quiz — are we a good fit for your financial planning needs?   CONNECT WITH DANIELLE AND DUSTIN Ask Your Questions On Facebook On Twitter

Are you able to identify your limiting beliefs? Our limiting beliefs are part of our identity. I’m not a morning person. I’m not athletic. These are some examples of the ways that our limiting beliefs can hinder our transformation. In this episode, we’ll walk you through some common limiting beliefs and how they can hold you back from transforming your life. If you haven’t listened to episodes 38 and 39, you’ll want to refer back to these. They don’t need to be listened to in any order, but they do have pertinent information to help you understand how limiting beliefs affect you and the stories you tell yourself. Discover how to identify your limiting beliefs Outline of This Episode [4:52] What are limiting beliefs? [6:59] Some common limiting beliefs [9:22] What are Justin’s limiting beliefs? [12:12] Overcoming your limiting beliefs gives you confidence [21:55] Is the all or nothing mentality holding you back? [32:11] Notice that your limiting beliefs drive your habits Who do you identify as?  I’m not a morning person. I’m not athletic. I work out daily. I can’t get everything done. We all identify as some type of person. This identity can really affect us when we try to make changes in our lives. Your limiting beliefs could be holding you back from your transformation in more ways than you know. 8 years ago I would never have worked out while on vacation, but now I am consistent about my workouts because I am a person who works out. I move my body every day. Are your limiting beliefs holding you back from achieving your goals? How do limiting beliefs work? So many people think that the results they achieve (or don’t achieve) have nothing to do with their limiting beliefs. But our limiting beliefs dictate how we think. They control the thoughts that we have. Your thoughts elicit feelings and create chemical reactions in your body. Your feelings then fuel your actions (or inactions). And your actions dictate your results. Then your results come around again and reinforce your beliefs. This is a cycle of beliefs - thoughts - feelings - actions - results. The results we see in our lives are because of the beliefs that we have. How have your limiting beliefs held you back from achieving the results you want in the past? Identify your limiting beliefs What kind of limiting beliefs do you have? There are many common limiting beliefs surrounding fitness and health. Here are a few examples: Working out is hard Losing weight is hard I don’t like healthy food I’m not a morning person Going to bed early limits ‘me time’ I can’t have fun without alcohol I’m not athletic Everyone in my family is overweight The first step in overcoming your limiting beliefs is to identify them. What are your limiting beliefs when it comes to health, exercise and fitness? Think about how your limiting beliefs drive your habits.  Overcoming your limiting beliefs gives you confidence Have you ever overcome a big obstacle? How did you feel afterward? Once you overcome a limiting belief then you know that you can do great things. It gives you the confidence to strive for more. When Justin set out to become a bodybuilder he had a lot stacked against him. He didn’t have the genetics or physique to become successful. But he made the decision to do it and got it done. He didn’t waver. His success in this has led him to become successful in other areas. What are your successes? Resources & People Mentioned Episode 38 - Limiting beliefs part 1 Episode 39 - The stories we tell ourselves Connect With Justin & Janell http://TheTransformationClub.fitness Subscribe to The Transformation Show onApple Podcasts, Stitcher, Spotify, Google Podcasts

The stories we tell ourselves can either positively impact our goals or be very detrimental to our well-being. We all tell ourselves stories to help explain things that happen in our lives. But we tend to wrap our limiting beliefs up in those stories. The truth is you can create negative stories or positive ones based on your perspective or your limiting beliefs. The stories we create are often based on our past experiences. These stories are so powerful that they can even impact our physiology. This is a great episode to listen to after episode 38 on limiting beliefs. After you listen to that one, give this one a go, to discover how your limiting beliefs are affecting the stories you tell yourself.  Outline of This Episode [2:22] The stories we tell ourselves impact our physiology [7:28] Your brain doesn’t know the difference between something imagined and something that has actually happened [9:31] Are you telling yourself a story or a fact? [16:55] You still need to process loss [22:57] Are you telling yourself this story as a way to process emotion? [27:05] What can you do to change your stories Identify your limiting beliefs  Our limiting beliefs are wrapped up in the stories we tell ourselves. And before you can move forward and change your stories, you need to identify your limiting beliefs. Then analyze how those limiting beliefs are impacting your stories. Instead of changing your story right away think about why you are telling yourself this story. The things you focus your energy on can become a problem if you let them. This is why we need to shut the light out on the negative stories so that we can give fuel to more positive stories.  Is it fact or fiction? The stories we tell ourselves can be quite deceiving and it can be hard to discern whether something is fact or just a story. Try to detach yourself from the situation to find out. Details are facts. For example, you lost 11 lbs and your friend lost 30. That’s a fact. You weren’t focused enough and she has an easier life. That’s a story. Practice detachment and learn to recognize the facts and separate them from the story. Use the facts to move forward. You can reframe that story to celebrate your accomplishments to make it easier to visualize the future.  How much energy are you putting into your stories?  The average person spends hours each day creating stories which lead them into a suffering state. Your negative stories can lead you to feeling disempowered, unmotivated and generally stuck in your limiting beliefs. We all waste time, energy, and emotion by spinning negative stories. Your negative stories could be a way for you to process emotions. Think about how you could better spend your time. Do you think you spin stories based on your emotional experiences?  What can you do to reframe your stories? Now that you know how to identify your stories and the way your limiting beliefs play a role it’s time to take action. The first thing you can do to change the stories you tell is to identify them as stories, not facts. Keep listening to podcasts and books to help you with your limiting beliefs. You can also talk to friends or a mentor to help you work these stories out. If you don’t have a friend or mentor to talk to (or even if you do) try reflection and journaling. When you write down these stories be sure to tear them up or burn them. This act of symbolism will help you move forward beyond your limiting beliefs. What will you do today to change your stories? Resources & People Mentioned Episode 38 on limiting beliefs BOOK - Stop Doing That Sh*t by Gary Bishop BOOK - Breaking the Habit of Being Yourself by Dr. Joe Dispenza Connect With Justin & Janell http://TheTransformationClub.fitness Subscribe to The Transformation Show onApple Podcasts, Stitcher, Spotify, Google Podcasts

Listen to this episode to learn conversion rate optimization tools you can implement today. Using these will greatly impact your eCommerce business. Each of these tools goes back to a key principle I use in my eCom intensive. You must focus on four main levers to move your business forward. The key is to get rid of distractions and direct your attention to these essentials: Getting leads Getting customers Maximizing average order value (AOV) Maximizing frequency of purchase Increase sales and scale your business by directing your attention to these elements. It doesn’t matter what storefront you’re using, implement these simple things and watch your conversions skyrocket. I list a handful of things. But be sure to listen to this episode for more ideas and details. Why it’s vital to have a frequently asked questions page One of the things you can do inside your store is to have a frequently asked questions tab or section. It doesn’t matter where you put it. You can place it front and center in the main menu or as part of your footer. I like to put it in both places. One obvious reason you want this page is to answer your shoppers’ questions. But it’s also a way to handle objections to the sale. Before you build a store, drive traffic, or market your product, you must figure out your buyers. What motivates them and what are their objections to the sale? Frequently asked questions is an opportunity to address those things. When you know what their objections are, you can handle them before they become too big. This is a critical step in order for them to convert. Start a blog to build content strategy and bond with your prospects   Another crucial point is something I talked about in Episode 24. It was about education-based selling and how important it is. That is what a blog is for. It becomes part of your content strategy. It’s also a place to build relationships. There are so many people in the market selling products. It’s difficult to know if they’re legitimate or if the product is something they need. A blog is useful for having a conversation with your shoppers. It lets them know what you’re about, that you are aligned with them, and you understand where they’re coming from. That's the place you can use your education-based selling. Find out what products are selling best  Another key element is knowing who your best sellers are and knowing your numbers. Understanding the data is what sets eCommerce apart. You’re in the arithmetic business. In Episode 3, I talked about some key metrics you need to know. One primary thing is knowing what products are selling best. You must simplify the shopping process. Consumers shouldn’t be forced to search around for the best selling products. Make yours easy to find and easy to buy.  How you can increase awareness of your product by highlighting your propositions In Episode 2, I discuss propositions and how you can use them to show consumers why they should choose your business over others. Take every opportunity to highlight your propositions. Once you’ve defined them, they become your compass. No matter what you’re doing - creating a page, a listing, an ad; or even when you’re giving a refund - at every touch point, your propositions provide guidance. When giving a refund, it’s an opportunity for you to show buyers they’re safe to do business with you. It’s a chance to show your values. After they’ve returned the product and had a good experience with you, they’ll talk about it. That’s good for business.  Understand the importance of keeping everything congruent in your ads Another good thing for a business is consistency. When a shopper clicks on your ad, is your landing page congruent with it? If colors are different or the topic changes, people think something isn’t quite right and they’ll hit the back button. It’s the same thing in your storefront. Keep everything congruent - the feel, the colors. Make it a seamless experience all the way through. If you start mixing it up, it makes people nervous because it’s not consistent. We all like consistency and you need to take advantage of that. Make sure you watch out for inconsistencies because it can increase bounce rates and kill conversions. Outline of This Episode [1:14] Propel your eCommerce business forward by using these four levers [2:26] Why it’s vital to have a frequently-asked-questions page [4:28] Start conversations with your prospects by using a blog [5:12] You must know who the best sellers in your market  [6:45] Increase awareness of your product - highlight your propositions [8:13] Don’t kill conversions - keep everything congruent in your ads  Resources & People Mentioned Episode 2 - The 2nd Deadly eCommerce Marketing Sin: Using a Price Point, not Propositions Episode 3 - The 3rd Deadly eCommerce Marketing Sin: Not Knowing Your Marketing Math Episode 24 - These 3 Strategies for Education-Based Marketing Will Drive Engagement ecomunderground.com/casestudy - How to Amazon-proof your business Connect With Bryan Bowman Bryan’s website: https://www.ecomunderground.com/ On Facebook

Often in social conversations, it’s not uncommon to hear us say, “That reminds me of a scene in the movie…” to emphasize a point. Movies have a powerful way of presenting memorable situations where real life decisions and money intersect. Given the financial lens we view the world through, these financial themes jump off the screen to us. So in today’s episode, we put on our movie critic hats and have some fun discussing lessons we’ve spotted in films that we all can learn from. Some are obvious but in others, you have to dig a bit deeper. Allison Berger joins us in this fun-filled episode to discover financial influences in the best and worst that Hollywood has to offer. Financial references from the best and worst Hollywood films Many times, the large financial outcomes in life are a result of a lot of little decisions along the way in emotionally-charged environments. The circumstances range from pressure-filled decisions amidst a tragedy to pre-conceived notions of long-held family belief systems around money. Some can seem more cliche, like always have a plan B or pay attention to the small print, but paying attention to the emotions that lead to these moments can provide the most intriguing insights. Other messages reinforce strong values that help position you for long-term success, like the benefit of hard work and having an open mind. Here’s a summary of the movies we discussed: Gone Girl – This is an intense 2014 thriller with loads of money themes. The movie begins during the 2008 financial crisis and the featured couple loses their jobs. A twisted and circuitous journey ensues from there. Money themes: This couple could benefit from better financial communication. Strangely, a financial advisor wasn’t around to help (wink, wink). Separately, she keeps all her money in a money belt after she goes on the run. This is a terrible idea! It’s no wonder her money gets stolen as you should never keep all of your money in one place, even when on the run. Finally, do your best to set yourself up so you are not forced to rely on someone else financially. Edge of Tomorrow – Tom Cruise stars in this 2014 Sci-Fi film. He plays a public relations guy thrown into the battle who gets stuck in a time loop. Financial lessons: You may not see a financial theme here but we can’t help but think about what we might do financially if we could do yesterday over again with the knowledge that we have today. There are so many uncertainties when dealing with investing which is why balance is so important. When you have a process to help you deal with all the options that are out there. We all have 20/20 hindsight but this movie can be a great thought exercise. What would you learn from today? Would you invest more? Spend differently? Or maybe create an automatic savings plan to make sure you’re saving? Crazy Rich Asians– This 2018 film is rich with money themes. It is basically set in a rich fantasyland in Singapore. Financial themes: Money alone will not make you happy, it’s the experiences money buys that can provide lasting happiness. Related, it’s dangerous to have your identity attached to money. Communicating openly with your partner about finances can prevent larger emotional disagreements along the line. Even further, the pressure of misplaced expectations around money can be problematic between spouses. This is why it’s important to choose your spouse wisely as research shows in The Next Millionaire Next Door. Miracle – This is a family-friendly 2004 Disney movie. Miracle is the story of an Olympic hockey team before Olympians were allowed to be professionals in their fields. Money lessons: The movie shows the value of hard work without money attached. At the end of the film, it showed what each character’s career was after their hockey career. This movie holds powerful lessons to show kids not to rely on one thing, especially a sport, to provide income for the rest of their lives. Be sure and listen to the rest for the our takeaways from 3 other movies, including one in Allison’s favorite classic series of movies. Resources & People Mentioned Episode 84 Episode 80 Book – The Next Millionaire Next Door Connect with Allison Berger Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh@TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts Stitcher Google Play

When many people think about changing their eating habits they often forget to consider their total nutrition. A lot of people focus on taking things out of their diet when they should actually think about putting things into their diet. When you think about adding things to your diet you begin to think in terms of abundance rather than lack. How have you been thinking about your total nutrition? Do you think about adding or subtracting things from your diet? Listen to this episode to hear what you can add to your diet to ensure that you are getting everything you need to live a healthy life. Outline of This Episode [1:22] Water is so important! [5:29] Eat protein with every meal [10:41] Eat non-starchy vegetables [19:02] Replace unhealthy fats with healthy fats [23:12] Time your carbs [25:45] Eat whole foods [32:06] Drink zero-calorie beverages 7 habits you can remember to ensure total nutrition Drink more water. Yes, we know we talk about this a lot, but it’s because drinking enough water is so important! Make sure to drink half your body weight in ounces of water each day. You’ll want to add even more if you have been eating things you wouldn’t normally eat. You can add lemon, frozen berries, or cucumber to change the taste. What do you like to add to your water to ensure you drink enough? Eat protein with every meal. Did you know that most women need 100 grams of protein a day and most men need 160 grams of protein? A portion of protein equals about a palm-size of meat. If you have trouble getting enough protein then consider using whey protein isolate in your protein shakes. Eat non-starchy vegetables with every meal. First, let’s define what a is a non-starchy vegetable is. Basically, it’s any vegetable besides winter squashes. And sorry but, peas, corn, and potatoes (these are carbs) are also not included. Non-starchy vegetables are nutritional powerhouses that contain many micronutrients. One way to cheat is to sneak veggies into your diet by adding spinach to your shakes. If you still are having a hard time eating enough vegetables, find ways to replace vegetables for carbs. Eat healthy fats with each meal. Healthy fats include coconut oil, olive oil, ghee, bacon grease, and avocado. Try not to use canola or vegetable oils when cooking. Remember you’re not trying to add fat, just switch to healthier oils. It’s easy to overdo it on the healthy fats by adding too many nuts or avocados to a salad. What do your salads look like? Time your carbohydrates. It’s best to eat carbs post workout and before sleep. Timing this can be tricky, so figure out what works best for you. If fat loss is your goal then be aware of how many carbohydrates you’re getting as well as the timing of them. If you slip up don’t worry, just make a different choice at the next meal. Where are you getting your carbohydrates? Are they coming from quinoa or wild rice? Or are they baked goods? Make you’re eating complex carbs from whole sources rather than simple carbohydrates from baked goods or packaged foods. Eat a wide variety of whole foods. A good rule of thumb is don’t eat things that come in a package. Another rule is, can you pronounce and read the ingredients? If your grandmother wouldn’t recognize it as food then don’t eat it. Eat things that will go bad in a reasonable amount of time Drink zero-calorie beverages (but not diet soda!). Sodas, alcohol, juices, and those fancy coffees are all full of calories and have little or no nutritional value. Try adding supplements, lemon, cucumber, or berries to your water and skip the empty calories and excess sugar. Think of total nutrition in terms of abundance rather than deprivation When you change your mindset about your diet you start thinking in terms of abundance rather than focusing on what you can’t have. Once you start replacing the junk with healthier options you will ensure total nutrition and start to look and feel better. How have you been changing your diet? Resources & People Mentioned Episode 28 on Managing your minimums Connect With Justin & Janell http://TheTransformationClub.fitness Subscribe to The Transformation Show onApple Podcasts, Stitcher, Spotify, Google Podcasts

Subscribe to Modern Marketing Engine Apple Podcasts |Stitcher |Google Play | Google Podcasts Vengreso recently published an original report titled The State of Digital Selling with LinkedIn in 2019. We surveyed 862 B2B sales reps across five industries: professional services, technology, manufacturing, healthcare, and financial services to assess their digital selling skills. The sales reps were asked 10 multiple-choice questions about how they use LinkedIn in their sales activities to assess how their use of LinkedIn impacts their digital selling results. Tune into today’s episode as Bernie and his guest Kurt Shaver, Co-founder and CSO at Vengreso, summarize the key findings that are published in the 20-page report. Get the full report on the Vengreso website or at stateofdigitalselling.com. Don’t miss out on the full report’s finding to understand how reps are being effective in digital selling through LinkedIn. How Has LinkedIn Impacted Digital Selling? One of the key takeaways from The State of Digital Selling with LinkedIn in 2019 report is that LinkedIn has been severely under-utilized by sales and marketing professionals. Despite being the largest publicly available B2B database in the world, the number of professionals using the platform for sales engagement is disappointing. LinkedIn is a comprehensive tool sales professionals should use to find, engage, connect with, and foster relationships with potential customers. The scope and depth of information housed in the LinkedIn platform are enough to keep most sales professionals’ digital Rolodex full of prime prospects for years. It has already revolutionized digital selling among those sales and marketing teams who use it appropriately. Your LinkedIn Profile Is More Than A Resume Most LinkedIn users recognize the platform as a way to present a professional face to the business world. However, beyond uploading a professional picture and completing the resume portion of the bio, most salespeople fail to optimize their profiles. Sales professionals need to move beyond using LinkedIn solely as a resume and instead focus on presenting a profile written through the eyes of their target customer. The report shows that most sales professionals are unaware that LinkedIn allows you to upload a variety of media files to include documents, PDFs, videos, and reports. The backbone of digital selling is creating and maintaining credibility with your target customer. The percentage of salespeople using LinkedIn to repurpose existing content and spread new content is surprisingly low considering the power such information has in generating trust. Are Your Connections Referring You Business? It’s true that the quality of your connections is more important than the quantity, but approximately half of the sales professionals surveyed had fewer than 500 connections. The salespeople who generate the most revenue are those with the biggest network. Having a net of just anyone is not effective, but when you focus on connecting with large numbers of people in your area of focus, you enhance your ability to sell more effectively and consistently. When you have a large network, you have more people from whom to gain referrals. However, the number of individuals in sales who are not using their network for referrals is astounding. 93 percent of those surveyed in The State of Digital Selling with LinkedIn in 2019 report have not or are not sure if they have ever asked for a referral from their connections. Considering the networking opportunities on LinkedIn, this is a huge area of improvement needed by sales professionals. Why Aren’t Sales Professionals Using The Advanced Search Feature? Not only are sales professionals not using their connections often enough to generate referrals and leads, but they are also not using the Advanced Search feature within LinkedIn. Perhaps most salespeople are unaware that this feature exists since 40 percent of those surveyed indicated they have never used the Advanced Search tool. This feature provides sales professionals the ability to create and save searches to find people they want to connect with and create Search Alerts that notify the user of new contacts matching the search criteria. Those who know how to use the Advanced Search feature are more effective at prospecting on LinkedIn. Bernie and Kurt closed this episode with an invitation to get the full report to read key insights on how to use the findings gained from this survey. To get the full 20-page report just go to www.stateofdigitalselling.com. Featured on This Episode Kurt on LinkedIn Kurt on Twitter: @KurtShaver Outline of This Episode [1:04] Bernie introduces today’s guest Kurt Shaver, CSO, and co-founder of Vengreso [2:16] Bernie reveals the purpose behind The State of Digital Selling with LinkedIn in 2019 report and how the data was obtained. [3:40] Which version of LinkedIn are most sales teams using? [5:34] The version doesn’t matter so much as the training supplied to the reps. [6:33] How does the profile picture affect the efficacy of the profile as a whole? [9:03] Media takes your LinkedIn profile from a digital resume to a digital resource. [14:19] What the number of LinkedIn connections say about profile optimization? [17:01] Referrals through LinkedIn are tremendously underutilized. [18:55] LinkedIn’s least used resource? The Advanced Search feature. [21:08] How often are individual reps sharing content with their LinkedIn network? [25:28] Better sales calls are made when the sales rep does research. [26:29] Are salespeople using personal video messages in their digital selling tactics? [30:04] What does your LinkedIn SSI score say about your LinkedIn profile? [31:56] Download the report at stateofdigitalselling.com for additional insights. [32:35] Kurt’s final thoughts on the insights gained from The State of Digital Selling with LinkedIn in 2019 report. Resources & People Mentioned Episode 217 of The Modern Marketing Engine Podcast: The 4 Digital Selling Skills of the Successful Modern Seller Episode 242 of the MME Podcast: How Marketing & Sales Contribute To Digital Transformation At CenturyLink Episode 230 of the SBE Podcast: The Influential Role of Content in Sales Enablement Bill McDermott, CEO of SAP Eric Yuan, CEO and founder of Zoom Video Communications Episode 246 of the MME Podcast: The Career Journey of the Modern CMO Episode 251 of the MME Podcast: 3 Ways to Ensure Marketing And Sales Produce Measurable Results The Selling With Social Podcast with Vengreso CEO, Mario Martinez, Jr Connect With Bernie and Modern Marketing Engine https://www.Facebook.com/modernmarketingengine/ https://www.linkedin.com/in/bernieborges/ https://twitter.com/bernieborges https://instagram.com/bernieborges https://Twitter.com/MMEnginePodcast   Subscribe to Modern Marketing Engine Apple Podcasts |Stitcher |Google Play | Google Podcasts There are TWO WAYS you can listen to this podcast. You can click the PLAYER BUTTON at the top of this page… or, you can listen from your mobile device’s podcast player through the podcast subscription links above.  

Nobody likes to talk about the 2 certainties of life: death and taxes. So much so that we delay important decisions on how to deal with our assets for our heirs. On this episode, Cameron Hendricks and Grayson Blazek join in to discuss specifics on how to handle accounts and property, filing taxes and how to better prepare for passing on your estate to your loved ones. Find out how to handle all of this now to save your loved ones added stress during a difficult time. Ensure that your loved ones are prepared to understand your financial life To ensure that others are prepared for your own passing, make sure that your loved ones understand your financial life as a whole. This will make your passing a much smoother process. It is important to ensure your will is readily available and is up to date. Another way to be prepared is to have your assets properly titled. It's also important to periodically check all of your accounts’ beneficiaries to ensure that you have the right beneficiaries named and that you don’t have too many. The more information that you provide up front will really help along the way. How to help your loved ones prepare for your passing Taxes can be confusing enough, but doing the taxes of for the deceased is even more challenging. This is why it is so important to ensure that your loved ones have all the information that they need to prepare your final tax return during this time. Before making someone an executor of your estate it is important to talk to them and give them all of the information that they may need. This will make sure that everything transitions as smoothly as possible. If you are the executor of the estate make sure that you know where all of these income sources are. The more information that you provide up front will really help along the way. How to prepare taxes for the deceased Preparing taxes for the deceased isn’t as complicated as you may think. A person that has passed is called the decedent. Whether you are the surviving spouse or the child of a parent that has recently passed someone will need to work through a couple of tax returns for the decedent. You will have to fill out the final 1040. It is similar to every other tax return that you have filled out. You can continue to file as married filing jointly if you don’t remarry within the year and you will include any income received. The second form you may encounter is the estate income tax return. The last tax form you may need is the gift tax return. Listen to this episode to hear Cameron Hendricks and Grayson Blazek provide their expertise on preparing taxes for the deceased. What are some common financial questions people ask about death? There is a myth that people think everything is going to be taxed upon death, but that is untrue. Life insurance is not taxed and 401K’s and IRA’s will not be taxed in the way you think. When passing wealth to your heirs think about whether they are ready to be heirs. You can set up a testamentary trust and create rules around the trust to prepare your heirs for receiving an inheritance. You want to make sure to have an estate plan. The default estate plan will certainly not be what you actually want. Remember, you won’t be around to clarify your wishes so make sure you clearly state your intentions. Outline of This Episode [2:47] Ensure that your loved ones are prepared to understand your financial life [7:17] What kind of income tax return will you need? [18:28] The estate income tax return [21:48] How to handle the 709 [26:58] What are the common questions people ask? Resources & People Mentioned Episode 57 Connect with Grayson Blazek Connect with Cameron Hendricks Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh@TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts Stitcher Google Play

You know you need to change your self-talk. The words you tell yourself have the power over your transformation. On this episode of The Transformation Show, you will see just how much negative self-talk affects the way you think, which affects the way you feel, which affects who you are. Not only do your words impact you but they impact those around you too. Listen to this episode to discover how to change your self-talk and ultimately change your life. Outline of This Episode [2:52] You don’t need to apologize for every little thing [7:36] Your brain doesn’t know the difference between something that has happened and something you have visualized happening [10:11] You can rethink the way things have happened in the past [19:36] Become aware of your self-talk to begin to change it [21:56] What is your language around food Stop apologizing I’m sorry I’m late. I’m sorry I didn’t get back to you sooner. I’m sorry I couldn’t come. We all do this (especially women!). It’s time to stop apologizing. And I don’t mean for important things. Of course, you should apologize if you genuinely hurt someone. Stop apologizing for trivial things. Whether you like it or not, words matter, what you tell others impacts you. Instead of apologizing you can say thank you. Thanks for waiting. Thanks for your patience. Thanks for inviting me. Use your words to make a positive impact rather than a self-deprecating one. I believe vs. I have decided You may think that there is not much of a difference between these two statements but there is a huge difference. I believe is a positive statement. It sounds really good but it's really just hoping. When you say I believe, then there is room for doubt. When you say I have decided, then it’s a done deal. If there is the slightest doubt then that doubt can creep in and sabotage your transformation. I’ve decided means there is no room for doubt. Think about it as if it has already happened. Your brain won’t know the difference. It’s amazing how the brain works. It doesn’t know the difference between something that has already happened and something that you have visualized happening. It's too hard… If you tell yourself it's too hard it will be too hard. It’s that simple. Analyze your thinking. What are you telling yourself? What are you telling others? What are you telling your children? Your beliefs are decisions when you say something is too hard you are saying you aren’t going to do it. Try replacing your language. Replace with I have to with I get to or even I choose to. Instead of saying you are trying to get out of debt replace that with you are creating abundance. It’s not I’m going to lose weight, instead, try I will create a healthier body. There are so many ways to change your self-talk. Listen to this episode to hear how you can change your self-talk and transform your life. What language do you use to describe food? We often try to label our food as good or bad. But the truth is food is neither good or bad. Food can either contribute to health or diminish health. When eating healthier foods we often create ‘cheat days’ or ‘treats’. But you haven’t been depriving yourself so don’t talk like you have. Eating something out of the ordinary isn’t bad and you shouldn’t tell yourself such. Instead, think of it as a The more you become aware of your self-talk the easier it is to begin to change it. It’s not easy but once you recognize it as negative self-talk you’ll realize how to turn it around. Resources & People Mentioned Episode 25 BOOK - Playing Big by Tara Mohr BOOK - Girl, Stop Apologizing by Rachel Hollis BOOK - Breaking the Habit of Being Yourself by Dr. Joe Dispenza Brene Brown Connect With Justin & Janell http://TheTransformationClub.fitness Subscribe to The Transformation Show on Apple Podcasts, Stitcher, or TuneIn

My birthday recently passed and to celebrate my 44 years on earth I decided to reflect on 4 life lessons that have helped me transform my life. (44 lessons seemed like a bit too much!) After some thought, I came up with these 4. These realizations have helped me make the most out of life. Listen in to hear which life lessons have been instrumental in my life transformation. Outline of This Episode [2:22] You have to put yourself first [5:39] What are the top 4 things he does to take care of himself? [10:39] You become your environment [15:42] The things most important to you will show up in your calendar [18:22] Life is a choice [24:20] One more thing to think about You have to put yourself first Ask any flight attendant and they will tell you when the air masks drop down you have to put yours on first before you can help anyone around you. We understand this in an emergency, but often forget this important lesson in our everyday lives. For your own well-being, you have to learn to take care of you. I began to learn this lesson early on in life. As the top trainer in the country for Lifetime Fitness, I realized, ironically, that I was out of shape. And when I started my own business I realized that there would be no calling in sick. I knew that if I wanted to be successful in my business I had better take care of myself first. The better you care for yourself the more successful you will be at whatever it is that you do. To help take care of myself these 4 things have helped me immensely: My morning routine - I did a whole episode on this. If you haven’t heard it you can find it here. Consistently working out Excellent nutrition - I’ve been gluten free for 6 years and I eat nothing with added sugar An early bedtime - I’m usually in bed at 9. Sleep is a crucial part of self-care. You become your environment You may have heard the saying that you are the average of the 5 people that you spend the most time with. But I like this one better: you become your environment. It’s more comprehensive. This includes your home and office. Look around you is your space a mess? Are the people you spend time with dragging you down? One of the most important keys to improving my life was joining a mastermind. This elevated my state of being. By putting myself in the right environment I was able to up my game. The things most important to you will show up on your calendar and on your bank statement If you make something a priority you will find the time and money for it. Take a look at your expenses. Where are you spending your time, money, and energy? When you say I can’t afford it or I don’t have time what you are really saying is that something is not a priority to you. Instead of saying that, own up to it and say I choose not to. If you want to change your life you have to change your priorities. Think about your own calendar and bank statement, what do they say about you? Do they show what is truly important to you? Life is a choice You get to choose how you feel and what you do in your life. Results come from your actions or from inaction. The actions that you take are fueled by your emotions. And your emotions are sparked by your thoughts. Your thoughts come from your beliefs. And your beliefs help you make your decisions. Ultimately you choose your beliefs, your thoughts, and your emotions. Only you are responsible for your results. Even the best of us get distracted and forget but it’s important to remember that everything you do is a choice. Try to have a constant reminder that your life is a choice. Resources & People Mentioned Episode 12 Healthy Morning Routine BOOK - Profit First by Mike Michalowicz Connect With Justin & Janell http://TheTransformationClub.fitness Subscribe to The Transformation Show on Apple Podcasts, Stitcher, or TuneIn

What is holding you back from transforming your life? On this episode, we are focusing on misery. They say that misery loves company. We want to teach you how to break free from the chains of those that surround you and strive for more. You’ll learn what creates misery, why those you love may be keeping you in misery, and how to focus on what you really want. Listen to this episode to learn how to keep misery from holding you back from your goals. Outline of This Episode [2:22] Misery loves company [7:44] What creates misery? [12:11] Misery also comes from focusing on what you don’t have [15:26] What happens when you focus on what you do want? [21:29] Focus on what you have by practicing gratitude Misery loves company Is your environment causing you misery? Are you trying to transform your life only to find that those around you are holding you back? Often when you try to escape your current situation the crowd around you will try to pull you back down. It’s important to realize that the only people that are holding you back are the others in the pit around you. They want you to stay in their zone of comfort. Others who you are striving to be more like will not criticize you for trying to achieve what they already have. The entrepreneur will not criticize you for starting a business. The fit person won’t criticize you for going to the gym. The wealthy person admires you trying to build your own wealth. What creates misery? Misery has 3 root causes that are holding you back. Misery comes when you focus on what you don’t want. Don’t focus on what you don’t want in your life. When you focus on what you don’t want you will actually see more of that thing in your life. Misery comes when you focus on what you don’t have. We often focus on what others have that we don’t. Comparison is the thief of joy. It robs you of every bit of positivity. Misery comes when you focus on what you don’t like. Do you find yourself complaining a lot? Everyone needs to vent sometimes, but it is important to recognize that's what you are doing and that it is bringing you down. What happens when you focus on what you do want? If you find yourself focusing too much on what you don’t want instead find what you are grateful for. When you focus on what you are grateful for more of that goodness will come your way. It is often much easier for people to focus on what they don’t want than to try and figure out exactly what they do want. Once you know what you don’t want, try flipping it around and striving for the opposite. Find clarity in what you do want. For instance, if you are worried about your debt rather than focusing on not wanting the debt in your life try to focus on building wealth instead. Are your negative habits holding you back? We all complain sometimes and we can get into a funk and wallow in our own misery. Instead of complaining day in and day out give yourself a time limit. Allow yourself to blow off steam for a day and then move forward. If you find yourself fearful, envious or complaining think about how you can change your habits. We all have these subtle and automatic habits. You won’t be able to change them overnight but the more you are aware of your negative habits the more you will be able to recognize them and change them. Don’t allow your miserable habits to keep holding you back any longer. Resources & People Mentioned Episode 22 Episode 21 Connect With Justin & Janell http://TheTransformationClub.fitness Subscribe to The Transformation Show on Apple Podcasts, Stitcher, or TuneIn

You've just sold your business. Or maybe you received an inheritance. Making decisions on how to handle the lump sum proceeds can be paralyzing. We all have that fear of making a mistake with the money and when the stakes are high, the fear is heightened. You might be wondering how wise it is to invest a big chunk of money with the markets near all time highs. When dealing with a lump sum, there is more to consider than just investment decisions. Listen to this episode to hear about the things you may not have thought about when considering your lump sum investment options. You have 3 options when you come into a large sum of money You may have received an inheritance, sold a business, or received stock options or restricted stock. However you received the money, there are really only three things you can do with it. You can spend it, pay down debt, or invest it. In fact, spending a portion of your newfound wealth to treat yourself is a good first step. Then take a step back and analyze your new financial picture. How have your goals changed? Is retirement now just around the corner? How will you need to invest to accomplish your new objectives? Many people are quick to want to pay off all debt. But first analyze the kind of debt you have before rushing to pay it all off. Paying off credit card debt is generally a good idea, but you might want to rethink paying off your mortgage. Before you make any decisions on what to do with the money you should take some time and consider all of your options carefully. Analyze the tax implications When receiving a lump sum of money, it is important to estimate the tax burden that comes with it. You don’t want to spend all of the money and then discover that you owe a large amount in taxes. No one likes to pay penalties so it is important to do some tax planning first. Take a comprehensive view of your tax strategies with a professional to help you consider all the options. There are many strategies you can consider to help ease the tax burden. A donor-advised fund is a great choice for the charitably inclined. Are their retirement accounts (SEP-IRA, 401k, Roth IRA, HSA's)  you haven't been maxing prior to the lump sum? Could front-loading a 529 account be right for you? What's your plan for health insurance and how will the premium tax credit affect you? You also want to consider the timing to ensure that your strategies are used in the same calendar year that you receive the lump sum. What are some lump sum investment options? We would all love to have a crystal ball to tell us the perfect time and place to invest our money. Instead, we ask questions like, should you invest it all at once? Should you invest in small increments over time? Or do what too many people do, and don’t do anything. Vanguard had an article which analyzed these lump sum investment options from a historical perspective. It turned out that about two-thirds of the time it was better to invest all at once. But, if you were prone to sell if experiencing a big loss in first few months, then investing over the next year may be best. Bottom line was that if you wait too long, you could end up regretting it. We all have that fear of making a mistake, but that fear of missing out in a rising market compounds the difficulty of long-term decision making. Understand that your decisions won’t be perfect but at the end of the day, it's all about the big picture. Think about your investment strategy. What assets make the most sense for your goals? Implementing a customized strategy for your specific desires will give you the comfort of being able to sleep at night, knowing you have a plan in place. Outline of This Episode [3:27] What are your options if you come into a large sum of money? [7:53] Analyze the tax implications [10:55] How to invest the lump sum [16:08] Update your estate documents [20:05] What is your cash flow? Resources & People Mentioned Episode 24 Episode 59 - Tax Solutions for Charitable Giving Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh@TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts Stitcher Google Play

An expectation gap is when our expectations don’t meet reality. This is a common problem when someone envisions their transformation. We all begin our transformation with big hopes. Often the beginning goes well, but when progress begins to slow many people become disheartened. On this episode of The Transformation Show, we discuss how your expectations fit the reality of transforming your life. You’ll learn how hormones and chemical reactions in your body affect how you feel and ultimately how they can play a role in the progress of your transformation. Outline of This Episode [4:22] How does sugar affect your body? [6:15] What do sports have to do with my weight loss journey? [8:35] How do expectations affect your experience? [16:25] What is more important to your transformation? [19:44] There is no end destination, find the joy in the journey What do sports have to do with my transformation? Americans enjoy high scoring games. We find low scoring games to be a bit boring. One reason for this is dopamine. Dopamine is known as the feel-good hormone. Dopamine actually controls the way you feel and gives you pleasure. If you aren’t eating the right amount of protein and are lacking in micronutrients then your body isn’t making enough dopamine. One way for your body to create dopamine is by eating sugar and carbohydrates. This releases dopamine and will bring pleasure. Another way to create dopamine is by watching exciting sports, shopping, or by that mini-high you get through social media. When you begin your weight loss journey or any kind of transformation in your life you are excited in the beginning. This helps you to jumpstart your transformation. Each small win that you achieve brings on the rush of dopamine. But over time that rush of dopamine dissipates even if you experience a win. This happens when your transformation slows. You only hit the gym 2 or 3 times a week instead of every day. You begin to add unhealthy foods back into your diet. Part of our jobs as coaches is to encourage you at this point. We’re here to remind you that every step forward, no matter how small, is an exciting part of your transformation even if your body isn’t giving you that high. How does the expectation gap affect your transformation? Often our expectations don’t meet up with reality. Take for instance the Super Bowl, everyone thought that it would be a high scoring game. So it was that much more disappointing when it turned out to be low scoring. It was a bit anti-climactic. Ask yourself what your expectation is of your transformation. Is it realistic? If there is a big expectation gap this can cause your transformation to fail. What is more important to your transformation? What do you think is more important, numbers on a scale or the way you feel? So many people get frustrated when the numbers on the scale don’t move. They quickly discount the fact that they feel better, have more energy, their clothes fit better, and they are generally happier. Isn’t that the whole point? So think about it. Are you undergoing this transformation to watch numbers move on a measuring device, or are you trying to make your life better? What are your expectations for this journey in transformation? Find the joy in the journey There is a gestation period for your goals that you don’t know. Nobody knows how long it will take them to achieve the transformation that they want. The thing is it could take years. You must learn to enjoy the journey. The journey is the destination. In our instantaneous world, it can be hard to understand that real change takes time. Understand how your body works and that you will hit plateaus. Embrace the fact that your 4-6-8 week program to lose weight is really just a jump start to a long-term transformation. Resources & People Mentioned Episode 13 BOOK - Think and Grow Rich by Napoleon Hill Connect With Justin & Janell http://TheTransformationClub.fitness Subscribe to The Transformation Show on Apple Podcasts, Stitcher, or TuneIn

Our listeners and clients often ask: Is now a good time to invest? Or what should I invest in? We give feedback on both these questions in our 2019 Investment Outlook episode. Be sure to check out the show notes for this episode in particular as we provide detailed charts to help demonstrate our discussion. If you are curious as to whether now is the time to jump into the stock market, what role bonds play in your portfolio, or what the experts say about the future of the markets then you'll want to listen to this episode. 2008 Review After logging strong returns in 2017, global equity markets delivered negative returns in US dollar terms in 2018.  Common news stories in 2018 included reports on global economic growth, corporate earnings, record low unemployment in the US, the implementation of Brexit, US trade wars, and a flattening US Treasury yield curve.  Many are still wondering why should we invest overseas given returns in the US have been so strong?  Investors should remember that non-US stocks help provide valuable diversification benefits, and that recent performance is not a reliable indicator of future returns.  It is worth noting that if we look at the past 20 years going back to 1999, US equity markets have only outperformed in 10 of those years—the same expected by chance. We can examine the potential opportunity cost associated with failing to diversify globally by reflecting on the period in global markets from 2000­-2009, commonly known as the “lost decade” among US investors. While the S&P 500 recorded its worst ever 10-year cumulative total return of –9.1%, the MSCI World ex USA Index returned 17.5%, and the MSCI Emerging Markets Index returned 154.3%. In periods such as this, investors were rewarded for holding a globally diversified portfolio. Stocks Are there risks today to invest in the stock market?  Yes.  Have their been risks in the past?  Yes.  Through all these risks the global stock market has gone from $1 to $59 from 1970 to 2017 History has found certain periods have resulted in higher returns than others.  Part of this can be explained by starting valuation.  Valuation is one of the best indicators of long-term returns (i.e. 10 years), but it is a horrible short-term timing strategy.  One popular valuation metric we’ve discussed in the past is the cyclically-adjusted price-to-earnings (CAPE) ratio.  Instead of dividing price by the past 12 months of earnings, the CAPE ratio divides price by the average inflation-adjusted earnings of the past ten years.  The idea is to smooth out the good and bad years created by the business cycle. Is the CAPE Ratio a good predictor of future returns?  According to a study by Research Affiliates titled CAPE Fear:  Why CAPE Naysayers are Wrong, starting CAPE Ratio has between a 48% to 91% correlation to future 10-year returns across 12 countries.  So yes, starting valuations do matter over the subsequent 10-year period. In addition, below Exhibit 4 is the average future 10-year real return based on starting US CAPE Ratio. As of December 31, 2018, below are the current CAPE ratios of the major equity markets: US Stock Market = 29 MSCI EAFE (int’l developed) = 15.5 MSCI Emerging = 12.5 Source:  https://interactive.researchaffiliates.com/asset-allocation#!/?currency=USD&expanded=tertiary&group=core&model=ER&models=ER&scale=LINEAR&terms=REAL&tertiary=shiller-pe-cape-ratio-box&type=Equities As noted in our recent blog, Crystal Balls and CAPE, when one market (US or foreign) was trading at a material premium (such as today), the other market stock market outperformed over the subsequent 10-year period. What is the purpose of bonds in your portfolio? Our belief is that high quality bonds in your portfolio provide the following benefits: Balance – diversification from equities Safety – capital preservation Income – interest payments Bond returns are largely driven by the term and credit quality of a bond.  Long-term bonds experience bigger price movements for a given change in interest rates.  Investor are expected to be compensated for taking that extra risk as a result.  The same can be said for lower credit quality bonds such as high yield bonds.  As the current time the spreads – the gap between the yield on credit and Treasuries – have remained narrow by historical standards.  For bond investors, that means the compensation for taking on credit risk is relatively low, and the upside from here could be quite limited. Future returns of bonds are highly correlated to the starting yield. Therefore, as of 12/31/2018 the yield on the Barclays U.S. Aggregate Index was approximately 3.28% which is depicted in the exhibit below.  Therefore, over the next 7-10 years investors can expect returns similar to starting yield levels. Overall, bond yields have increased over the last couple years, but remain low compared to historical levels. How about Cash? The Federal Reserve raised rates four times in 2018 and nine total adjustments over the past four years.  The benchmark interest rate is in a range of 2.25% to 2.5%.  The benefit of this is many investors have seen higher returns from their bank accounts but borrowing costs have also increased.  What will the Federal Reserve do next?  I have no idea, but below are the current market/Fed expectations as of December 31, 2018.  You’ll notice the Federal Reserve and market is not expecting material rate increases from this point forward. Summary  To summarize, with low returns expected for US stocks and bonds many investors allocated primarily to US stocks will be disappointed with returns over the next ten years.  As a result, individuals may need to either work longer or spend less than expected to reach their financial goals. For current savers a market decline should be viewed positively as it allows them to buy stocks at cheaper prices.  For existing or soon-to-be-retirees it is important to understand your risk capacity and risk tolerance and adjust your asset allocation accordingly.  You’ll need equity for long-term growth, but it is important to have high-quality bonds for current spending. What can you do about potential lower returns?  First, focus on what you can control (spending, taxes, estate planning, etc.) and your long-term financial plan.  If you don’t have a financial plan in place, it’s the perfect time to contact a fee-only financial planner such as Financial Symmetry.  Second, implement a long-term, disciplined investment strategy.  And no, buying the mutual fund/ETF/stock that has done the best over the last three years is not a strategy.  If you don’t have a disciplined strategy or want to learn more about our process click here to download our white paper. Outline of This Episode [1:37] Is now a good time to invest in the stock market? [4:41] How do you evaluate when the best time to invest is? [12:22] What is the purpose of bonds in your portfolio? [16:53] What is the role of cash in a portfolio? [18:20] What do the experts say? [20:35] How do you prepare for lower returns? Resources & People Mentioned Episode 24 Blog Post - Crystal Balls and CAPE Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh@TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts Stitcher Google Play

Have you heard of the phrase progress, not perfection? That is the focus of today’s episode of The Transformation Show. Many of you may have gotten the impression that we feel that setting goals for the New Year are a bad thing. This isn’t true! We think that goal setting is a great idea any time. The difference between resolutions and goal setting is that resolutions are a fix and goal setting is about self-improvement. Think about what you are trying to do, are you trying to fix a problem or improve yourself? If you are trying to improve yourself, we are going to show you why you should strive for progress, not perfection. Outline of This Episode [4:22] What is your normal? [10:35] How am I making progress? [14:45] Perfection is an excuse to not get the job done [17:58] When a good habit becomes the norm then the old habit feels abnormal [21:43] How do you measure progress? What is your normal? Is eating healthy food, working out 3-4 times a week, practicing gratitude, drinking half your weight in water your norm? Or maybe your normal is eating junk food, sitting most of the day, drinking sugary sodas, and feeling low on energy? Both of these are normal for some people. Your normal is the current condition you are in. Goal setting is attempting to create a new normal for yourself. If you aren’t working out 2-3 times per week that is your normal. What are your behaviors and routines and how are you trying to change them? Are you trying to create a new normal for yourself? How are you making progress? Progress is not always a linear progression. You may not get better every week. Some weeks you will lose weight and some weeks you’ll gain. Some weeks you’ll hit the gym every day and some you won’t. Listen to episode 10 about the gap and the gain to help you understand how to measure your progress and have compassion for yourself. If you are interested in making progress toward your goal you can follow these 4 steps: Identify the habit you want to work on Practice Have self-compassion when you slip up Hop back on the wagon and repeat What are you doing to make progress toward your goal? Perfection is an excuse to not get the job done--strive for progress, not perfection Stop using perfection as an excuse for not doing the job. You have to release yourself from the perfection mindset to achieve your goals. Once you see that perfection is actually a negative thing you’ll see that perfection is holding you back from achieving your goals. You have to work at something a long time before it will become perfect. If you are worried about perfection then you’ll never get going in the first place. This is why seeing progress, not perfection is so important. Perfection doesn’t happen overnight, and sometimes it never happens! How do you measure progress? So if perfection is not the goal then how do you measure progress? You need to measure the progress of your goals on many different levels, not in just one specific area. You may be making progress but the way that you are measuring isn’t showing how far you have come. If you are trying to make a physical change in your body don’t just look at the scale or how your clothes are fitting. Ask yourself instead, how do you feel? How is your energy level? How is your mood? These deeper questions show the real progress. Resources & People Mentioned Episode 10: The Gap and the Gain BOOK - Better Than Before by Gretchen Rubin Connect With Justin & Janell http://TheTransformationClub.fitness Subscribe to The Transformation Show on Apple Podcasts, Stitcher, or TuneIn

Subscribe to Social Business Engine Apple Podcasts |Stitcher |Google Play | Google Podcasts Every organization needs to increase lead generation. This episode highlights an incredibly creative way one B2B company increased lead generation. What did they use? An ink and paper coloring book for compliance professionals. Bernie’s guest is Sean Freidlin. Sean is currently Senior Product Marketing Manager at Hanzo. But, when this episode was recorded, Sean was Director of Proposition Marketing at SAI Global- the company whose content marketing campaign is highlighted in this conversation. In his role with SAI Global, Sean was instrumental in many key campaigns. He spearheaded the creation of "Compliance Officer Day", "Corporate Compliance and Culture Cards," AND….the subject of this episode, "The Compliance Coloring Book." You heard that right…The Compliance Coloring Book! In this episode, Sean explains how the idea to create a coloring book for chief compliance officers was born, why it was such a big hit, and how it became a great lead generation tool. You’ll be inspired by this modern marketing approach. It combines a little old school marketing with a digital approach. The end result was a very successful lead gen marketing campaign. Good Lead Generation Depends On Targeting The Right Need Content marketing aims to provide valuable resources that a target market can use to solve problems. The team at SAI Global understood that their target market - Chief Compliance Officers - deal with an immense level of stress day to day. What could they do to help increase quality of life by reducing stress for those individuals? One of their surveys provided the answer: When asked what they do to relieve stress, many of their respondents said they liked to draw or color. That got the team thinking… should they create an adult coloring book around the topic of compliance? This conversation reveals why they decided it was a good idea, what they did to make it happen, the unexpected response they got as a result. You’ll love the ROI. The Right Marketing Mix Generated Leads That Were Unexpected Since the SAI Global team was providing a piece of content for their audience that was hard-copy rather than digital, they weren’t sure if digital means of marketing would be effective. But they discovered that the right mix drove the campaign far beyond what they expected. They used a combination of email that included drip campaigns and social media promotions. In particular, LinkedIn pulse articles performed very well. To their surprise, word of mouth and social out-performed everything else. They received 500 requests for the coloring book within the first week. And though they targeted the U.S. market, there was great international interest. Within 2 months they received requests for the coloring book from 61 different countries. The outcome? The Compliance Coloring Book generated a tremendous number of leads at a very low cost. At only $2 per lead, even with printing and shipping, anyone would call it “successful.” You can hear the entire story on this episode. A Lead Gen Tool That Brought New Life To A Difficult Topic Even though the Compliance Coloring Book was a great tool for generating leads, there was a negative side. Some voiced concerns that the coloring book made the issue of compliance seem too light-hearted. Sean and Bernie feel that sort of response was a good sign. It indicates that they stirred up conversation and created buzz in a way that drew attention to compliance, rather than detract from it. The positive feedback made it clear that the coloring book was helpful to compliance departments. It enabled them to educate about compliance in new ways that made the stodgy, boring stereotype less of a barrier to those in the student role. Unexpected Results: Parent/Child Relationships Were Strengthened The SAI Global team began their campaign based on the premise that a coloring book would be a quality of life tool. Stress-relief through the use of the book was a primary intention. But there was another life-improvement benefit that came from the coloring book. Many compliance professionals completed the pages in the coloring book with their children. This sparked conversations about what the parent actually did at work. Children were able to see the importance of what mommy or daddy did all day. Parents were able to share an important part of their lives with their children. In the end, the SAI Global team achieved their end-goal - quality of life improvement for the Chief Compliance Officer - in a way they never anticipated along with lead generation. Listen to this podcast conversation to hear the entire story. Featured on This Episode Hanzo - Where Sean is currently serving as Senior Product Manager SAI Global Get your own copy of the 1st and 2nd coloring books Try the interactive coloring book experience here Sean on LinkedIn: https://www.linkedin.com/in/seanfreidlin/ Outline of This Episode [0:41] Shawn’s expertise regarding compliance as lead generation [3:28] Factors behind why Shawn combined old-school and new marketing approaches [9:01] Why a compliance coloring book for compliance education? [12:10] Modern marketing tactics used to get the book into the hands of the right people [17:21] Feedback and response: unexpected input and outcomes [24:24] Key lessons and takeaways: Zig when others zag and discover how to be sticky [26:58] How the sales team is using the coloring book resource Resources & People Mentioned Episode 228 with Paul Johns The Selling With Social Podcast with Vengreso CEO, Mario Martinez, Jr Connect With Bernie and Social Business Engine https://www.facebook.com/socialbusinessengine/ https://www.linkedin.com/in/bernieborges/ https://twitter.com/bernieborges https://instagram.com/bernieborges https://twitter.com/sbengine   Subscribe to Social Business Engine Apple Podcasts |Stitcher |Google Play | Google Podcasts There are TWO WAYS you can listen to this podcast. You can click the PLAYER BUTTON at the top of this page… or, you can listen from your mobile device’s podcast player through the podcast subscription links above. This podcast originally appeared on Social Business Engine

2018 gave us a December to remember, with the S&P 500 index losing 9% for the month, locking in the worst December performance since 1931. From peak to the most recent bottom, the S&P 500 has fallen more than 20%, marking the first bear market since 2008-09. Now the bear market is here, are you prepared to deal with it? This most recent drop has given us all a scare. Does the drop have you worried?  Did you prepare for the bear market beforehand? Preparing for stock market drops prior to experiencing one, helps you digest results when it occurs. It doesn't change the fact that disciplined investing is difficult. And while you'll never be excited about stock market declines, you can be prepared.  On this episode, we clue you in on the tricks for surviving a bear market. You’ll learn what a bear market is, the questions people typically ask when the markets drop, how to prepare for a bear market, and how to recognize a bargain when you see one. The markets are always changing, are you ready for what’s ahead? Listen to this episode to help you weather the storms that bear markets bring. What do people ask when the markets drop? In long and strong bull markets, overconfidence is plentiful as positive returns inflate our perception of our investing skill-sets. But when the markets drop, we are quick to question our investment strategy. People ask themselves: Should I be doing something different? Should I be buying? Should I be selling? Should I buy cryptocurrency or gold? We feel the need to act when we see our nest egg evaporating. The biggest question people ask is: what do I need to do to preserve my money? If you feel like you need to sell and go to cash then you could be taking to much risk. Risk tolerance can be thrown out the window when things are going well. It’s when things go south, you learn your true risk tolerance levels. A poor decision in a bear market can often take years or even decades to recover from. Listen to this episode to help you learn how to make the right decisions in a bear market. What is a bear market? A bear market occurs when there’s a drop of 20% in a particular stock market. This differs from a recession which is declared after there are 2 consecutive quarters of negative GDP. Many people think there must be a recession to have a bear market, but not every bear market results in a recession. However, they do tend to work together. There’s about a 50/50 chance of having a bear market coincide with a recession. As painful, as bear markets can feel, they do happen much quicker than bull markets. The average length of your typical bear market is 1.4 years, contrasted with an average bull market at 4.5 years. How can you prepare for a bear market? Bear markets can be scary to watch and unfortunately, the news channels cover them constantly. People pay more attention to bear markets since they are sensationalized by the news media. The most important thing to remember is to follow your strategy. If you feel like you need to get out immediately and go to cash then you are likely taking too much risk. Unfortunately, we can’t follow our intellect and instinct when it comes to investing. Our instincts influence us to stop the bleeding and sell stocks to hold more cash. The problem with that strategy is big up days occur very close to big down days. So when volatility spikes, your time in the market matters than trying to time the market. How do you recognize a bargain? The silver lining of a bear market, is the buying opportunity they create. For many investors that are steadily saving in their investment accounts, bear markets present bargains for higher long-term returns. But how do you know the best time to invest more in stock? How do you ensure that you are not buying too early?  Studies show the best strategy is to invest a lump sum upon receiving, as your average long-term returns are higher with stocks vs. other alternatives. Our emotions tell a different story. Catching a falling knife is a risky game.  This is where personal circumstances matter most. What does your future income, spending and savings rates look like? When will you need your savings? Answering questions like these gives you a head start on the best choices for your life. Because “knowing” what will happen in the short-term is a fool’s game. Understanding the historical context can help, if it gives you the confidence to begin and stay invested through potential worsening conditions. Warren Buffet once said, “widespread fear is your friend as an investor because it serves up bargain purchases. Personal fear is your enemy and it will also be unwarranted.” Outline of This Episode [2:27] What do people ask when the markets drop? [5:48] What is a bear market in stocks? [10:22] How can you prepare for a bear market? [16:10] How do you recognize a bargain? [20:36] 5 Points to remember in a bear market Resources & People Mentioned Episode 71 – How to Ignore the Stock Market Noise Article – Burned by Bubbles Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh@TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts  Stitcher  Google Play

Welcome to Financial Symmetry, the podcast to help you discover financial opportunities that you may be missing as well as to warn you about many financial mistakes that you can make. We are here to help you improve your life through finances. Finances are so complicated which is why we are here to help you answer questions about your daily financial life. We are here to give helpful hints and education rather than financial advice. On this episode, we discuss our top 4 most popular podcasts of 2018. Listen to this episode to hear what our top 4 most popular podcasts were, as well as many of our favorite podcasts. Our most popular podcasts are quite diverse Our 4th most popular podcast aired relatively recently and we discussed why you should bother diversifying your portfolio with international stocks. On that episode, we highlighted why the U.S. has done so well and why you would want to have a mediocre portfolio by mixing it up with international stocks. We discussed the risks of investing internationally as well as our tendency toward home country bias. Episode 67 discussed the long-term benefits and how they can shine through our short-sighted viewpoints. Have you listened to the Why Bother Diversifying episode? What investment decision process should you implement? Episode 52 was the 3rd most popular podcast of 2018. The markets had just dropped when this one aired which makes everyone nervous. It’s important to remember that the markets frequently fluctuate. We often forget the rough times in the financial world which is why it is so important to have an investment plan. An investment plan isn’t there for the easy times when all is well, it’s there to help you through the hard times. That episode mentioned how to get through the emotional part of investing. We love to give you a glimpse behind the curtain so to speak so that you can see our own details and strategy that we use here at Financial Symmetry. Do you have a financial plan in place? 5 Easy ways to improve your financial decisions I’m glad this was the 2nd most popular episode in 2018. It discussed how we often act against our own best judgment. We tend to place more value in small rewards now rather than larger rewards in the future. This episode included easy steps that anyone can implement to improve their financial situation. We talked about small wins, automation, accountability, and how to have a bigger awareness of spending. Check out episode 60 to find out how to improve your financial decisions. The top episode took us by surprise We were surprised by the number one episode of 2018. Episode 61 was our most downloaded episode. This one aired in June and discussed how to plan a more enjoyable vacation. We love encouraging experiences over things. Experiences create lasting memories and things are easily forgotten. Check out episode 61 if you are planning your next vacation. Find out which episode didn’t make it into the final 4 as well as which podcasts we really enjoy listening to on this episode of Financial Symmetry. Outline of This Episode [3:27] What are our top 4 podcasts of 2018? [4:42] Why bother diversifying with international stocks [7:04] What investment decision process should you implement [10:25] 5 Easy ways to improve your financial decisions [15:20] Planning a more enjoyable summer vacation [17:58] What is the one that didn’t make it [19:28] Some other podcasts you might enjoy Resources & People Mentioned Episode 67 - Why Bother Diversifying Episode 52 - What Investment Decision Process Should You Implement? Episode 60 - 5 Easy Ways to Improve Your Financial Decisions Episode 61 - Planning a More Enjoyable Vacation Episode 62 - The Tumultuous Journey of Bitcoin and How Cryptocurrencies Work Psychology of Persuasion Podcast with Robert Cialdini Serial Podcast Planet Money Podcast Money for the Rest of Us Podcast - Why Health Insurance is a Mess No Laying Up Podcast (a golf podcast) What’s Good Podcast About the Beastie Boys Bill Simmons Podcast BOOK - Atomic Habits by James Clear BOOK - Happy Money by Elizabeth Dunn BOOK - Influence by Robert Cialdini Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh@TeamFSINC Follow Financial Symmetry on Facebook

Working moms face a difficult balance. People often feel that most women have a choice whether to work outside the home, but the reality is, 65% of families need both parents to work. Women in the workforce is a family issue, not simply a women’s issue, so this episode is useful for more than just women. Allison and Grace join us again to dive into the topics of gender bias, women in the workforce, and they provide helpful strategies and resources to help anyone that is struggling with how to balance it all. Women face both internal and external gender bias Studies have found that as women achieve more success in the workplace they lose their likeability. This can make it a challenge for women who want to chase success. Even directly out of college women seem to start out behind men as they begin their careers. Only 7% of women negotiate their first salary whereas 57% of men do. Men are often rewarded for their drive and ambition while those same traits in women are considered self-serving and greedy. In Sheryl Sandberg’s book Lean In, she gives useful advice on how to make the most of your career and motherhood. Discover how to overcome your own gender bias on this episode of Financial Symmetry. What is truly essential to you? Working moms aren’t the only ones that seek the perfect work-life balance. But is work-life balance a myth? One way to bring more balance into your life is to consider what is truly essential to you. Once you give yourself permission to stop trying to do it all then you can make your highest contribution to the things that really matter. The book Essentialism by Greg McKeown inspires readers to prioritize what they really need. This book can help you reconsider what is essential in your life. How can you reconsider what is important to you? Listen to this episode to hear more about this book and other resources for working moms. How do successful women spend their time? Some people seem to be so great at managing their time. What Laura Vanderkam discovered is that when you focus on what matters to you then you will make time for what you want. She emphasizes that time is elastic and you can stretch it to get what you need out of life if you prioritize what is important to you. We are all given the same amount of time in a week, it’s how we use our time that counts. Successful women get paid for the quality of work that they do, not the hours that they put in. How do you prioritize your schedule and make time for what you really want? Discover resources for working moms As you come back to work after having a child your life changes immensely while that of your husband doesn’t change much at all. Even though men often take time off of work, they are not faced with the same kinds of difficult decisions that women face. When returning to work you have to consider how much you will miss your kids when you go back. You have to decide whether you should you stop your career and stay at home or continue to work. Those that normally cheer you on now question all of your decisions. Listen to this episode of Financial Symmetry to find some fantastic resources for working moms. Outline of This Episode [3:49] There are gender biases both internally and externally [12:45] What is essential to you? [17:12] How do you strike a balance with your spouse? [23:50] Can you achieve more by doing less? [30:10] How do successful women make the most of their time? Resources & People Mentioned Episode 51: Financial Savvy for Women BOOK - Lean In by Sheryl Sandberg BOOK - My Mother My Mentor by Pamela Lenehan-- for the guilt complex BOOK - Bossy Pants by Tina Fey -- for comic relief BOOK - Essentialism by Greg McKeown BOOK - Getting to 50-50 by Sharon Meers TV SHOW - Big Little Lies BOOK - Porn For Womenby Susan Anderson -- for comic relief BOOK - Drop the Ball by Tiffany Dufu BOOK - I Know How She Does Itby Laura Vanderkam TED TALK -Laura Vanderkam How to Gain Control of Your Free Time Connect with Grace and Allison Email Grace Kvantas Email Allison Berger Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh@TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts Stitcher Google Play

As the holidays near, visions of new tax savings dance in our heads.  But knowing how to spot them is what really matters. With all the new tax law changes, Will Holt joins us again to guide you through seven tax opportunities you can take advantage of before year-end. Some of these tips can save you thousands of dollars, so listen in to see how you they may benefit your personal situation. 7 Tax Opportunities to Take Advantage Of 1. Tax Harvesting (Loss or Gain) – This hasn’t changed with the new tax law, but depending on your tax bracket, that percentage of tax you pay may have. If you’re facing a significant amount of capital gains or expect large capital gain distributions, with the rough October performance, you may want to consider tax loss harvesting. This allows you to offset some of those gains and even go a step further, by using $3,000 of net losses against your income. It may seem counterintuitive to sell at a loss, but it could be an opportunity to offset high taxes. If you are in the new 12% federal tax bracket and lower, realizing more gains could be an opportunity instead, as these could be realized at 0%. But knowing your tax rate and all expected income is required. Discuss with a professional to know for sure. 2. Max Retirement Contributions – Understanding how close you are to the max of your retirement accounts, could present extra tax-advantaged savings at the end of the year. Maxing your 401K contribution is the first place to check. If you get a big year-end bonus, this could be a good trigger. Don’t forget your HSA, as this account provides a triple threat of tax savings (tax deduction, tax deferral, tax-free withdrawals). 3. Convert a Roth IRA? – Doing a Roth conversion can help you stay in your tax bracket by moving an IRA into a Roth. With the new lower tax rates, this could be an opportunity to lower the inevitable tax you were going to pay on this savings. Additionally, you will be taking money out of a tax-deferred account and moving it into a tax-free account. This is a good option for early retirees with large taxable accounts. But you’ll need to be more precise going forward, as the opportunity to recharacterize if you overshoot is gone. 4. Bunching Charitable Contributions – The new tax law has increased the standard deduction for individuals to $12,000 and for married couples from $12,000 to $24,000. This means around 90% of people will now be taking the standard deduction according to the Tax Policy Center. If you forecast your itemized deductions could be higher than the standard amount, consider bunching your charitable contributions into 2-year bundles. One way to do that is by using a bunching tool called a donor-advised fund.  The donor-advised fund allows for more flexibility in taking the deduction now, but still allowing for spreading contributions throughout the year. For more information about donor-advised funds, refer to episode 59 for more details. 5. Look at a Qualified Charitable Distribution Early in the Year – One of the opportunities, that hasn’t changed but is getting more attention, is the QCD or qualified charitable distribution. To enjoy this opportunity you are required to be age 70.5 and older as you can designate a portion of your required annual distribution directly to a charity. This takes some precision and should be targeted for earlier in the year when the RMD still needs to be taken as it must come directly out of an IRA and go directly to the charity of your choice. 6. 20% Deduction for Qualified Business Income – If you are a small business owner or entrepreneur the qualified business income deduction will be of interest. What’s come to be called the QBI deduction, or 199A deduction, is used for any business that is not a C corporation. If you have self-employed income or are an S Corporation, you can receive a deduction of 20% on your profit. However, there are income limitations. After you listen to this tip you’ll want to sit down with your tax professional and plan your taxes. We wrote a more detailed article on potential savings with QBI here. 7. Watch the Tax Torpedos – To truly understand your own tax planning, you have to watch specific income thresholds. We refer to these as tax torpedos. For example, if receiving a premium tax credit for health insurance, you could lose your entire subsidy if you surpass the income limitations by even $1. These are set according to the amount of family members (up to 4). A great example of why tax planning matters throughout the year as well. We discuss other important income thresholds dealing with the medicare premium surcharges, child tax credit cutoffs, and roth IRA limits. As you prepare for the holiday season, make sure you take a second look at your tax planning. By watching out for these financial opportunities, you could end up saving yourself thousands of dollars in taxes. It’s important to have a multi-year tax strategy and always consider the big picture, not just what is happening now.  Being financially smart means considering all aspects of your financial life.  This time of  year, that begins with looking for ways take advantage of new tax laws for your personal situation. Outline of This Episode [2:47] Tax loss harvesting [6:51] Retirement accounts tax savings [9:00] The Roth conversion [12:09] The new tax law increased the standard deduction [15:36] Qualified charitable distribution [19:43] The qualified business income deduction [22:37] Specific thresholds to look out for Resources & People Mentioned Episode 59 Tax Solutions for Charitable Giving Episode 63 – QCD’s Qualified Business Income Flowchart Connect with Will Holt wholt@financialsymmetry.com Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh@TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts  Stitcher  Google Play Podcasts Stitcher Google Play

Topics We Cover On This Episode [3:49] Shawn breaks down the background of Dr.Joe Pojman [6:45] Why Dr. Joe loves the 40 Days for Life Podcast [8:50] Dr. Joe debunks a few Pro-Life movement stereotypes [11:39] How Dr. Joe successfully lobbied for Pro-Life legislation during a Pro-Abortion Administration [15:39] How the legislative side of the Pro-Life movement impacts the Pro-Life movement as a whole [18:17] All the ways in which the current political climate affects Pro-Life legislation [21:14] How the spotlight of Pro-Life legislation hurts the abortion industry [26:43] What America would look like if Roe v. Wade is overturned [28:48] What motivates Dr. Joe to persevere in the effort to end abortion It doesn’t take a rocket scientist to see that abortion is ending the life of an innocent child. However, that’s exactly what Texas has leading its effort to end abortion through Pro-Life legislation. Dr. Joe Pojman is a former NASA aerospace engineer who founded and is the executive director of the Texas Alliance for Life which is a non-profit organization committed to lobbying for laws that protect the sanctity of human life. On this episode of the 40 Days for Life Podcast Shawn and Steve sit down with Dr. Joe to discuss the impact of Pro-Life legislation on the state of Texas and our nation as well as the legal landscape of the road to end abortion. Dr. Joe Pojman is breaking stereotypes in the Pro-Life movement There seems to be an invisible line dividing those who lobby for Pro-Life legislation and those who pray outside of abortion facilities and run pregnancy centers. Both sides have very different functions in the fight for life, but they both serve the same goal: to save lives and end abortion. So much so that while Dr. Joe spends most of his time on the legal side of things he also tries to make it out to a 40 Days for Life campaign any chance he gets. Hear how what’s happening at prayer vigils all across the country is inspiring those who labor to change abortion laws on this episode of the 40 Days for Life Podcast. Incredible progress for Pro-Life legislation was made even with a Pro-Abortion administration It’s no secret that Barack Obama was one of the most Pro-Abortion presidents in American history. Despite that fact, much progress was made in the realm of Pro-Life legislation even during his presidency. The reason is that most of these laws are passed at a state level thanks to grassroots support from organizations like the Texas Alliance for Life. Listen to this episode of the 40 Days for Life Podcast to get an inside look at how Pro-Life lobbyists are still taking ground no matter the political climate. Pro-Life legislation forces people to see hard truths about abortion The place where Planned Parenthood and the abortion industry thrives the most is the dark. Pro-Life legislation is so powerful because it shines a light on the atrocities of what really happens at abortion facilities. Even the smallest steps towards progress help stir up the conversation and expose the real agenda behind abortion. Hear all the ways Pro-Life legislation and the abortion debate are opening eyes on both sides of the aisle during this week’s episode of the 40 Days for Life Podcast. The day is coming when Roe v. Wade will be overturned It may be along time before it’s realized, but we are experiencing the beginning of the end of abortion. Planned Parenthood can’t keep up with efforts like the 40 Days for Life campaign because they spend most of their time and resources trying to combat Pro-Life legislation in courtrooms and capitals. We also can’t ignore that for the first time ever there are potentially five Pro-Life votes sitting on the bench of the United States Supreme Court. Dr. Joe gives his insight on the necessary legal steps to see an end to abortion during this week’s episode of the 40 Days for Life Podcast. Resources & People Mentioned Episode #17 with Heather Gardner Email us at movie@40daysforlife.com to learn how you can host a theater for the UnPlanned movie free of charge The Beginning of the End of Abortion - Pick up your copy on Amazon and leave a review! Connect With Dr. Joe Pojman Dr. Joe on Twitter Texas Alliance for Life on Twitter and on the web Connect With 40 Days For Life www.40DaysForLife.com On Facebook On Twitter Email Sign Up App Tweets You Can Use to Spread the Word It doesn’t take a rocket scientist to see that #Abortion is ending the life of an innocent child. However that’s exactly who is helping lead #ProLife legislation efforts in Texas. Listen to the latest #40DaysforLifePodcast interview with @joepojma! #PrayforLife @joepojman is breaking down stereotypes in the #ProLife movement. Hear how what’s happening at prayer vigils all across the country is inspiring those who labor to change #Abortion laws on this week’s episode of the #40DaysForLifePodcast. #PrayforLife #Abortion Incredible progress for #ProLife legislation was made even during the #ProAbortion @BarackObama administration. Learn how on this week’s episode of the #40DaysforLifePodcast. #PrayforLife #Abortion #ProLife legislation forces people to see hard truths about #Abortion. Hear all the ways these laws are opening eyes on both sides of the aisle during this week’s episode of the #40DaysforLifePodcast. #PrayforLife #Abortion The day is coming when #RoeVWade will be overturned. @joepojma gives his insight on the necessary legal steps to see an end to #Abortion on this week’s episode of the #40DaysforLifePodcast. #ProLife #PrayforLife   Subscribe to The 40 Days For Life Podcast on Apple Podcasts & Google Play

  Men’s style can be confusing these days with skinny jeans and bow ties being all the rage. But dressing for success is as important as ever. Ensuring that your wardrobe lasts more than just a season and that you look great for every occasion doesn’t have to be a burden. If you look at clothing through an investment lens and remember 3 easy tips you can create a signature look that will stand the test of time. Are you ready to discover 3 ways that you can make an investment in yourself through your wardrobe? Listen to this episode of Worth It to hear how you can turn your closet into an investment in yourself. Here’s What You’ll Learn [2:45] It’s hard to dress right these days [6:52] Think of clothing through an investment lens [9:10] Clothing should show your ideal you [16:35] Fit matters [18:16] Buy high quality and low quantity [25:29] Buy timeless clothing Your clothing choices should show your ideal self They say that you should dress for success, but what exactly does that mean? You have to think about who you want to be. Knowing who your ideal self is will help you find your style. How do the most successful dress in your field of expertise? There are great ideas all around you to help you create the style that is just right for you. You can also look to characters in movies and on tv to help you find your look. Clothes that fit correctly go a long way to creating the ideal look. If it doesn’t fit well, get rid of it! Women have known for years how to create a wardrobe that makes them look their best, it’s time that men catch up. Listen to this episode to hear how to choose the right clothes to show your ideal self. Buy high-quality pieces that last If you are thinking of clothing through an investment lens then spending extra money on high-quality pieces that will last for generations then price takes on a whole new meaning. Yes, you will spend more money at the outset but the beautiful thing about buying quality pieces is that you don’t have to buy a lot. Quality means so much more than quantity. Men only need a few pairs of shoes, belts, and other accessories that will stand the test of time. There are great ways that you can save money on your favorite brands, find out how on this episode of Worth It. Buy timeless clothing If you’ve seen the tv show Mad Men then you know that quality clothing never goes out of style. Well-fitting suits, jeans, chinos, and blazers are pieces of classic fashion that have stood the test of time. Did your grandfather have a wardrobe piece that was handed down to you, or have you ever discovered a classic thrift store find? These are examples of clothing that stands the test of time. You can look current without being trendy by including timeless staples in your wardrobe. One way to think about a clothing purchase is to ask yourself if you could still wear the item when you are 50, 60, or even 70 years old. Be current instead of being trendy By mixing and matching high quality, timeless pieces that fit well you can create a wardrobe that shows your true self. It may seem like a lot of money when you are purchasing them, but an investment in yourself is always worth it. Remember that quality made clothing and accessories are built to last many years, unlike trendy low-quality items that are only made to last a season or two. When you see a piece that speaks to you, trust your gut and go for it and wear your clothing with love. Find out the best ways to invest in yourself through your wardrobe on this episode of Worth It. Resources & People Mentioned Episode 28 MOVIE - Hitch The Art of Manliness Saddleback Leather Allen Edmonds Shoes Lacoste J Crew Connect With Danielle and Dustin Ask your questions! On Facebook On Twitter Connect with Dustin on Twitter: @DRGranger

Successful Fashion Designer podcast celebrates ONE YEAR

Do you know what the number one most avoided financial subject is? On this episode of The Financial Symmetry Podcast, we are diving deep into estate planning where you'll learn why it is so avoided and why you really shouldn't avoid it. Cameron Hendricks joins us on the show today to help us navigate this touchy subject. Estate planning is easy to forget to do and so many people end up putting it off so that it is actually the most avoided subject when it comes to financial planning. If you don’t have a proper estate plan you need to be sure to listen to this episode as Cameron lays out many of the possibilities that could happen if you have no will in place. Why have an estate plan? What is the purpose of an estate plan? The purpose is to look out for your family and loved ones. You want to make sure that the people you want to receive your inheritance actually receive it. This also simplifies matters for your beneficiaries. It reduces family conflicts and confusion during an already emotional time. Because of this emotional roller coaster, planning your estate can be very challenging, but it's arguably one of the most expensive financial mistakes you can make. What happens to your estate if you have no will in place? Cameron Hendricks joins us to walk us through different scenarios so that we can understand what happens to our estates if we don't even have a simple will in place. You may be at a time of life where you don’t have any dependents and so you may think that it doesn’t matter if you have a will in place. Would you like to leave your money to the state? If so, then there’s no need to do anything, but if you want to have any say in where you’re money will go when you are gone then you need to have proper beneficiaries named. Listen to this episode to hear what could happen to your money after you are gone. When is the most important time in life to have a will in place? Many people that have families still avoid proper planning of their estate. The reasons are usually emotional. No one wants to think about what will happen to their children when they pass. If you are a stepparent, you probably haven’t thought about what might happen to your estate regarding your stepchildren if you haven't planned your estate properly. You’ll definitely need to hear this episode if you are the parent of a blended family. Make sure you don’t miss this episode on estate planning so that you can understand all the ramifications of improper estate planning. Family conflicts are the biggest threat to estate planning No one wants to think about what life will be like after they are gone. Making decisions about what happens after your passing is emotional and not much fun. Estate planning is one of those difficult tasks that we just have to get done for the sake of our families. After a loved one’s passing many families experience rough times. Family relationships are already challenging enough. Don’t let your lack of estate planning make them worse. Listen to this episode to hear how important it is to properly plan your estate no matter what stage of life you’re in. Outline of This Episode [3:18] Estate planning is usually the number one thing that people haven’t done yet [4:19] Why have an estate plan? [9:00] Unmarried individual with no children [12:25] Married couple with no children [15:45] Married couple with children [21:11] Blended families [24:06] No spouse, no children, no parents Resources & People Mentioned Episode 11 - What Happens to Prince’s Estate? Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh@TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts Stitcher Google Play

On this episode of Financial Symmetry, we’re getting you ready for tax time! We've been helping clients check their taxes for many years and we know that there are two types of people that file their tax returns. The optimists try and get their taxes done as quickly as possible and probably have already filed their taxes. Those of you that are pessimists are waiting until the last minute and probably haven’t filed yet. If you fall into the latter category then you will definitely want to listen to this episode before you file your taxes. On this episode, we cover the top ten tax return filing mistakes. Remember, the IRS will never send you money that you missed on your tax return. Make sure you listen to this episode to avoid these common tax return mistakes. What can you do to become more organized in your tax returns? Many times people make tax return mistakes simply because they are disorganized. They misplace paperwork and often do not have all the data at hand to complete their 1040 correctly. One thing you can do to avoid making costly mistakes on your tax return is to keep a file handy where you can put all of your tax documents for the coming year. That way as you receive documents throughout the year you can just place them into the file and have them ready when it is time to prepare your taxes. Getting your tax documents organized is one way to avoid tax return mistakes. Listen to this episode to hear other ways to avoid making mistakes on your taxes this year. Do you have a checklist to keep track of new tax rules and help to avoid tax return mistakes? Having a checklist can help you become organized and avoid costly tax return mistakes. This can help you not to overlook anything. Without a checklist, you may forget to enter correct data or follow up on new tax rules. Some capital gains rules have changed and the custodian of your accounts does not have to keep track of all of the costs. These new changes could lead to costly mistakes. Listen to this episode to hear how these changes could affect you and your tax return. If you are looking to avoid costly tax return mistakes you will want to hear the best ways to avoid them! What should small business owners be doing to avoid tax return mistakes? Are you a small business owner? Do you do any side work that involves a 1099? If so, that means you are! When you begin your small business or even if you simply have a couple of side gigs to bring in extra income then you need to pay attention to all the rules for filing your 1099 so that you can complete your tax return correctly and save money. Knowing what is taxable income and what isn’t is important and can save you thousands of dollars on your tax return. Listen to this episode of Financial Symmetry to hear about all the ways you can save money by avoiding these tax return mistakes. Did you know that credits are more important than deductions? Many people think that finding deductions is the best way to save money on their tax returns, but that is not the case. Finding relevant tax credits is actually more important than finding deductions. You need to understand all the credits that apply to you and your family to make the most out of your tax return. If you have a college student you may be making a big mistake when filing your tax return. On this episode of Financial Symmetry, we discuss the top ten most common tax return mistakes that we see on our clients’ taxes. If you want to get the most out of your tax return, you’ll want to listen in. Outline of This Episode [1:11] What are the two types of people that file tax returns? [3:44] What can you do to become more organized? [5:00] Do you have new dependents this tax year? [6:58] Capital gains rules have changed! [9:31] Your 1099R may not be taxable, here’s why [11:32] Why is it so important to keep good records? [14:55] What should small business owners be doing? [16:30] What can you be doing for your non-working spouse? [19:05] So many people miss this credit! Resources & People Mentioned Episode 47 - Why Do I Need an HSA? Episode 41 - How to Pick the Best Retirement Plan for Your Small business The College Episodes: Episode 17, Episode 18, Episode 39 Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/ Connect on Twitter @csmithraleigh@TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts Stitcher Google Play

On this episode of Boost Your Sales and Lifestyle I share with you 4 business practices that I use which can allow you to create a life you love. The work that you do translates directly into the life that you want to lead. The 4 business practices that I share in this episode allow busy entrepreneurs to delegate better, cultivate consistent cash flow, and plan. If this sounds like something you want for your business, then listen in so that I can share with you the 4 business practices that can help you create your dream life. How can an annual meeting help motivate your whole team? Each year I have a meeting with my essential team members. During this annual event, we toast the year that has passed and set goals and expectations for the year ahead. This annual meeting is a fun event that we all look forward to. This allows all of us on my team to keep our eye on the goals ahead and stay focused. We focus on intention and goals to ensure we are creating the business and the life we really want. Listen to this episode to hear how having a yearly team meeting can help you focus on your business goals and achieve the results you want. Plan your calendar and plan your dreams I create my yearly personal and marketing calendar in November to get a jump start on the new year. I make sure to lay out the groundwork and input the big things first. These include the kids' calendar, personal vacations, and personal development, as well as family trips. Next, come the essentials for my company; my irresistible offers, big launches, and live training events. This calendar is like a roadmap that allows me to plan the year ahead. Think about what your most significant income generators are and how you can get them planned out in advance. Listen to the full episode to hear what and how you should be planning your year to bring about success in your business and your life. Plan ahead when you will be out of the office Do you plan ahead for times when you will be out of the office? Have you ever come back from a trip to find that you have to work twice as hard to get back on track? Planning ahead to prepare for the week you come back as well as the week that you will be gone can give you an amazing gift of time and organization. Listen to this episode to hear the strategies that I use to plan when I will be out of the office. These tips come from experience and have saved me from those terrible days back when I had to work twice as hard to get back on track. Manifesting magic Envision what you want from your life and put it down in writing! Many people write their dreams out in notebooks, some use vision boards, and some people even use mind movies. (Think - vision board for the 21st century!). Turning your dreams into reality can’t happen without a detailed plan. By writing out your dreams you can manifest them and turn them into your new reality. Listen to the tips I give on this episode of Boost Your Sales and Lifestyle to hear how you can turn your dreams into reality. Episode Highlights [1:38] Mission-driven entrepreneurs want to make a difference [2:59] The annual team meeting [5:39] The yearly calendar [12:48] Layer your calendar with partner promotions [16:12] How do you plan for being out of the office [20:08] Manifesting magic Resources & People Mentioned Episode 45 - The Team Meeting Irresistible Offer Blueprint Speak to Sell Live Bootcamp My Facebook live on Manifesting Let’s Connect! INSTAGRAM: https://www.instagram.com/lisasasevich FACEBOOK: https://www.facebook.com/lisasasevich TWITTER: https://twitter.com/lisasasevich http://www.boostyoursalesshow.com

On this episode of Boost Your Sales and Lifestyle I share with you 4 business practices that I use which can allow you to create a life you love. The work that you do translates directly into the life that you want to lead. The 4 business practices that I share in this episode allow busy entrepreneurs to delegate better, cultivate consistent cash flow, and plan. If this sounds like something you want for your business, then listen in so that I can share with you the 4 business practices that can help you create your dream life. How can an annual meeting help motivate your whole team? Each year I have a meeting with my essential team members. During this annual event, we toast the year that has passed and set goals and expectations for the year ahead. This annual meeting is a fun event that we all look forward to. This allows all of us on my team to keep our eye on the goals ahead and stay focused. We focus on intention and goals to ensure we are creating the business and the life we really want. Listen to this episode to hear how having a yearly team meeting can help you focus on your business goals and achieve the results you want. Plan your calendar and plan your dreams I create my yearly personal and marketing calendar in November to get a jump start on the new year. I make sure to lay out the groundwork and input the big things first. These include the kids' calendar, personal vacations, and personal development, as well as family trips. Next, come the essentials for my company; my irresistible offers, big launches, and live training events. This calendar is like a roadmap that allows me to plan the year ahead. Think about what your most significant income generators are and how you can get them planned out in advance. Listen to the full episode to hear what and how you should be planning your year to bring about success in your business and your life. Plan ahead when you will be out of the office Do you plan ahead for times when you will be out of the office? Have you ever come back from a trip to find that you have to work twice as hard to get back on track? Planning ahead to prepare for the week you come back as well as the week that you will be gone can give you an amazing gift of time and organization. Listen to this episode to hear the strategies that I use to plan when I will be out of the office. These tips come from experience and have saved me from those terrible days back when I had to work twice as hard to get back on track.  Manifesting magic Envision what you want from your life and put it down in writing! Many people write their dreams out in notebooks, some use vision boards, and some people even use mind movies. (Think - vision board for the 21st century!). Turning your dreams into reality can’t happen without a detailed plan. By writing out your dreams you can manifest them and turn them into your new reality. Listen to the tips I give on this episode of Boost Your Sales and Lifestyle to hear how you can turn your dreams into reality. Episode Highlights  [1:38] Mission-driven entrepreneurs want to make a difference [2:59] The annual team meeting [5:39] The yearly calendar [12:48] Layer your calendar with partner promotions [16:12] How do you plan for being out of the office [20:08] Manifesting magic Resources & People Mentioned Episode 45 - The Team Meeting Irresistible Offer Blueprint Speak to Sell Live Bootcamp My Facebook live on Manifesting Let’s Connect! INSTAGRAM: https://www.instagram.com/lisasasevich FACEBOOK: https://www.facebook.com/lisasasevich TWITTER: https://twitter.com/lisasasevich http://www.boostyoursalesshow.com