Does Your Business Need A Buy-Sell Agreement?

Entrepreneurs are generally good at one thing when they start their business and that’s generating top line revenue.  Once they create enough top line revenue then they begin to think about how to drive bottom line profitability in their business.  As the equity value of the company grows, most owners never consider some very important planning items because they believe they are invincible.  What happens if my business partner(s) get divorced? What if they die?  What if they become disabled?  Do I want to be working with my partners kids or spouse?   One of the key considerations for most business owners is whether or not to get a buy-sell agreement and get key person insurance. A buy-sell agreement is a legal contract that provides for the sale of an owner’s stake in a business at a ‘trigger’ event.  The sale of an owner’s interest could actually trigger for many reasons including retirement, death, disability, divorce, bankruptcy, or even a conflict ...

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Five Ways To Save Money On Pet Costs

As the millennial generation grows up (people born 1981-1996), many couples are actually substituting the idea of having children with have pets as the cental focus of their family.   According to the American Veterinary Medical Association (AMVA), the 2012 Pet Ownership & Demographics Sourcebook showed that almost 40% of households in American had a pet dog.  Cats were at 31% falling in seconds place and a litany of other animals were further down on the list.   It turns out that if you ask most people what they think the cost to own a dog will be during its lifetime they gave an answer of $6,000.  However, the range actually falls between $27,000 and $42,000 in actuality over the course of ten years.  Of course children are more expensive, but here are five ways you could save money if you have a pet. Schedule Regular Checkups – We know that it is always better to be proactive versus reactive when it ...

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Why Universal Basic Income Won’t Work

After I listened to this short clip on the Wall Street Journal’s website over the weekend, I felt compelled to write a short article around Universal Basic Income because I think it is a topic that you will see bandied about a lot more over the next five to ten years.  http://on.wsj.com/2tZbLPp Chris Hughes who is the cofounder of Facebook, is one of the driving forces behind this movement along with Bill Gates and other tech giants who are strong proponents of Universal Basic Income (UBI). In his interview you can watch from the link I shared, Mr. Hughes says, “I think that something fundamentally in the economy has changed to create these winner take all markets, where a small number of hardworking people do very well, and nine out of 10 others are  also hardworking don’t enjoy the same opportunities.”  Mr. Hughes, I am sure they taught this at Harvard as standard course requirement but it is something called ...

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The Importance Of Risk Management In Trading

Most successful traders use risk management as part of their trading strategy. This is as much down to the importance of protecting gains as limiting losses. There are numerous ways in which you can protect your trades against unexpected market moves. This article covers the basics of risk management in trading, especially when you are using forms of leveraged trading such as spread betting and contracts for difference (CFDs). What is leveraged trading? Leveraged (also known as margined) trading gives you a larger exposure to the market. This means that you are able to open a trade by putting down just a fraction of the full value of the trade you are looking to place. Leverage allows you to use a small amount of capital to control a larger sum of an asset. Leverage is a great way to gain exposure to the market. Your potential for profit can go up when the market moves in your favour. It is ...

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Five Ways To Save Money On Spring Break

With Spring Break right around the corner, families across America are thinking about vacations to staycations wondering how to fit this into their family budget.  If you aren’t careful, Spring Break could cost you upwards of $5,000 or more depending on how far of a getaway you plan for your family.  There are a number of ways to save money along the way, and if you plan appropriately you can even save money on your trip. What’s In Your Wallet – We walk around all year with our Contanza size wallet full of cards we don’t use at all. Before you spend a nickel on Spring Break, see if you have a AAA card, an AARP card, a Student ID (if a student is with you), or some other discount card that can offer you savings at local venues, rent-a-cars, or restaurants.  In addition, double check what your credit card may offer from lower cost Uber rides to savings at ...

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Bank branches for the digital age: Regions Bank opens 2 innovative locations in Atlanta metro area

Technology is making our lives easier in so many ways. Today, we can access more information, communicate more quickly and cost-effectively, and work more efficiently than ever before. In financial services, innovations are bringing greater convenience, increased transparency and improved security – not only to financial transactions themselves but also to customers’ interactions with their banks. Regions Bank is embracing these changes and is preparing to unveil two new bank branches in the Atlanta metro area. The new branches feature cutting-edge technology combined with a high level of personalized service – all aimed at allowing you to focus more on life and worry less about money. New Regions locations The newest Regions branches are opening at Parkside West in Marietta and Stilesboro Oaks in Acworth, bringing the total of Regions branches in the Atlanta area to 35. In the new branches, you’ll see an improved design and learn how technology can simplify your banking experience. The innovative branches will also ...

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How To Use LinkedIn To Make More Money

Most of our articles strictly talk about personal finance, but I thought it would be cool to teach you about how to use the Social Media platform LinkedIn to help you make more money either with your career or your business. Many business owners and individuals that I help at Hyperchat Social (Try Hyperchat Today) often ask about how to generate leads or get a pay raise at work. We know that lead generation is the end all be all problem for most business owners or individuals trying to grow their income.  What’s surprising is how many business owners don’t take advantage of free leads that may be right under your nose because you just didn’t realize how to get those leads. Since the beginning of 2017, LinkedIn decided to completely overhaul their platform and interface with LinkedIn users.  It shouldn’t come as a surprise to you that LinkedIn is feverishly trying to figure out how to create more recurring ...

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Four Moves To Make Before Interest Rates Go Up

It’s been roughly a decade since the housing collapse in the United States, and if you haven’t checked as of late the homes and buildings are going up in your neighborhood like a 2007 party.  Part of the main reason for the boom over the past decade was the loosening of the monetary policy keeping long term borrowing rates next to nothing. Those of you who locked in 30-year mortgages between 3% and 4% should thank your lucky stars because we may not see those rates again for another 20 years or more.  Now that the United States has hit record low unemployment and corporations across America are making record profits, the Fed is now beginning to tighten the monetary policy.   Mortgage rates were between 4.5% and 4.6% for a 30 year mortgage during the week of February 25th, 2018 (source: bankrate.com) So, what four smart money moves can you make as the Fed tightens up the money supply? Cut ...

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