Building Systems or Fighting Fires

on November 15, 2018 |By Jarrod Musick | Business Owners
Every business owner has found themselves fighting a financial fire in their business or personal life, and sometimes both at the same time. You are not alone, we have all been there. It doesn’t mean that you did a bad job anticipating for it, it means that there was a system problem somewhere within your business model. The good news is that there are ways to build systems and automate most of the implementation so you can focus on growing your business and not fighting fires. It's less stressful and way more enjoyable. And let's face it, we could all use less stress these days.  
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How to Choose a Charity

on November 05, 2018 |By Amy Bertle | Other
Everyone wants to maximize their donations, but we've all heard horror stories of fraudulent charities. How do we know which charities are legitimate and which will help maximize your donation dollars? Some organizations tackle the due diligence, so you don’t have to. Some of the major watchdogs over charities are The Better Business Bureau’s (BBB) Wise Giving Alliance, Charity Navigator, CharityWatch, and GiveWell.  
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Hitting the Bullseye

on November 05, 2018 |By Steve Musick | Retirement Planning
Part of our work as asset managers is to generate sufficient cash flow for regular income.   A long-time client came in for a review last week, and we carefully reviewed her prior year income and expenses. She had managed her cash flows really well - right in line with her budget forecast for the year. Her Destiny Capital portfolio was specifically designed to distribute an exact amount of cash to her from her investments. We send this portfolio income to her bank account as an automatic quarterly deposit. Having an income target such as this allows us to construct the optimum investment portfolio in order to “Hit the Bullseye”. When we do this, her actual financial performance improves.  Having this bullseye allows us to position her total portfolio to function optimally and operate efficiently with only minor changes along the way. It keeps the majority of her capital invested to continue working for her. As a part of each review, we always ask what the next year looks like. In this case, she said "Well, I am thinking about doing something big next year with my kids and grandkids. I want to go see Mickey and Minnie with them in Orlando." She shot me the rough cost of the trip in addition to her standard annual budget. We adjusted her portfolio to make the new quarterly distributions and set aside the Disney trip money she would need for next summer. This is planning!  
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Are You Prepared for a Business Transition?

on October 18, 2018 |By Jarrod Musick | Business Owners
At some point, we all need to transition the businesses we have built. That day may come in a year or in forty years. It could be in pieces over time or all at once, but it will come. Have you thought about what is going to happen when that day comes for your business? Most business equity transitions happen during our lifetimes. So, for now, I will focus on those and leave the transfers that occur at our death for another time. Of the types that happen during our lifetime, there are external transitions and internal transitions.  
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How Credit Scores Work

on October 18, 2018 |By Amy Bertle | Other
We have all heard about a credit score. But what is it, how does it work, and how can you improve your credit score? A credit score is a way for a lender to determine how likely a person is to pay back loans. It is used as a way to compare potential borrowers and to evaluate how much a bank can trust a borrower with their money. A high credit score tells the lender a person has a history of using credit wisely and pays back what he/she has been loaned. A low credit score shows the lender the opposite.  
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