In the past I’ve written about two words that need to be eliminated from the English language. For those of you who may have forgotten or even (heaven forbid) not read that post, the words are but and should.
I now have another word that keeps popping up and I want you to just stop saying it or even thinking about it. That word is overwhelmed.
You’re not overwhelmed….you’re something else.
Trust is a funny topic. Not in the ha ha sense, but in one where we all have different opinions about it.
For some people trust should come unconditionally and for others trust comes because others have earned it. I tend to be in the second school and believe that trust is earned and often re-earned over a period of time.
Let’s start with what builds trust.
Here’s something that will happen to you……. you’re going to experience chaos in your life. You might not want it to happen and that’s just the point - chaos is part of life, especially when you get a dose of the transitions.
It could be a death in the family, a divorce, a change in your job situation or business situation. All of them will make you believe your life has been turned upside down.
Here are some easy things you can do to help with a transition you could be going through:
Stop and breathe.
Investing is a personal activity. There is no “best” choice. There’s only the choice that’s right for you.
If you decide that an investment/wealth/financial planner is right for you then you’re going to want to interview them just like you were hiring to come to work for you. The truth is, you are.
Do you like this person?
Investment advisors, hiring investment advisors
Well there’s even more than taxes that you need to know about when it’s time to sell your business. Too often I hear financial planners make presentations about a business owner client and it isn’t very accurate.
First know the value of your business.
business sale taxes
I had a client who had an interesting dilemma. He had a general manager in his company who was doing a truly terrible job. At the same time this owner had allowed this manager to stick around for 7 years while he continually cleaned up the manager’s messes.
On top of the manager doing a lousy job both the owner and the general manager hated each other. I know, hate is a really strong word, but in this case it’s the right one.
I hope this isn’t the case in your business or life. At the same time this story might provide a warning for you.
The owner didn’t want to admit his mistake.
I truly hope the answer to that question is a rousing no! Not that it’s a bad thing to work for others, it’s just that you’ve spent years working for yourself.
You’ve spent all of that time giving orders and now you’re considering taking orders from someone else? To me that surely sounds like a recipe for disaster.
financial planning for business owners
When it comes to wealth management we often focus on financial wealth. It’s rare that we take a step back and think about all of the things that we should be grateful for.
Here’s my list. I’m hoping that you take a minute and email me here with your list.
I don’t mean planning for how many children you’re going to have, where you live or how you spend your time together. I’m talking about planning for your financial future, hopefully with a competent financial planner.
Don’t let your planner be a car salesman.
The unfortunate answer I often hear and see is no. Our generation just hasn’t done a great job of saving for life after work.
All is not lost. If you haven’t saved enough for retirement here are some things that you might want to think about: