Financial planning for middle-income people. Stop the bleeding!

“The most important thing for middle income people to overcome is their concept that, ‘I don’t make enough money to warrant the need for a financial planner.’ I find it’s the opposite. Since you don’t have excessive income, it’s most important to get a handle on what are your expenses, where can they be cut and what can you do to meet your retirement goals.”

Those words are from David Bohannon, a certified financial planner at Consultant’s Corner in Louisville, KY. A self-serving attempt to drum up business? I don’t think so. Why are so many people ready to throw money at Lotto tickets or the hottest stock when a sure-fire way to pile up money is to quit wasting it? Paying for a few financial planning sessions with a good planner might beef-up your bottom line.

CFP James Knaus of LaBrecque, Jackson, Price & Roehl in Troy, Mich., says he, also, doesn’t base financial planning on the size of the assets.

“I base it on the problems or concerns they want to have addressed. I have a no-obligation meeting that probably lasts 30 to 45 minutes to see if we can connect and if there’s something I can do for them. I tell them how long it will take and what I charge. It’s a low-key approach.”

Do your homework

If you decide to see a financial planner, be prepared to do some homework in advance. Knaus asks clients to bring in an approximate balance sheet consisting of assets and liabilities and a cash flow statement. He says most people are able to put them together reasonably quickly if they don’t have them.

“What’s really important for you is to have an idea of what you want to accomplish — goals and priorities,” says Knaus. “I ask an open-ended question and let ’em rip. It’s amazing how much people will divulge. My job is to shut up and listen and take notes.”

David Bohannon says a lot of people may not need to see a financial planner on a routine basis, but they need to sit down with a planner and do a complete financial makeover to get on the right track.[Continue Reading…]

My business is having trouble – Why are things going badly?

It doesn’t matter how big, or successful your business is, a start-up, an established business or even if you rule the market at some point you’re likely to have trouble. Sometimes things can seemingly be running smoothly, with a business being self-sufficient and sustained. However, if things tip in the wrong direction, you could find yourself massively struggling. So, what are the tell-tale signs that things aren’t heading in the right direction?

You don’t understand how well the business is performing

Running a business and working as a director are two different things. Owners can easily get distracted with ongoing projects or other important aspects of the company. Naturally, owners and directors have to delegate jobs within the business, but unless you have accurate knowledge of money coming in and out of the business, the feeling of team chemistry within the business and the view of the general public, it’s unlikely you will genuinely know how well you are really performing.


An owner should know every aspect of their business, including in-depth knowledge of how every aspect of your company works. This will enable you to have a clear understanding of your strategy, what you are looking to achieve and where your business is headed. Without you can lose track of what your business is really about and where it’s headed. Knowing the key statistics of the business is key to its success, without that knowledge, it can be hard to keep track of how well it’s really performing.[Continue Reading…]

Why are Brits so hesitant at switching banks?

They say that Brits are more likely to get divorced than split with their bank. However, why is there little switching? There is even a current account switching service ensuring that direct debits and salary payments are smoothly changed to a new … [Continue reading]

Funding a new business venture

If you are setting up a new business, then you will have many things to sort out. From finding premises to hiring the staff you need and planning your marketing push; your to-do-list will no doubt be lengthy. Of course, this is all part of starting a … [Continue reading]

Why choosing an established trading platform makes sense

Online trading can be a great and lucrative career move for those who make it work. However, there are also risks involved. Whether it’s the inherent risk that the value of your investment goes down as well as up, or the risk that you’ll come across … [Continue reading]

Buying property abroad? Top tips to follow

Buying a property in the UK is a hard-enough task and buying abroad is even harder to manage. From the language barriers that spring up when carrying out a transaction in a non-English speaking nation to the risk that standard property due diligence … [Continue reading]

Portafina Findings on Health Consciousness Could Improve Your Business

Businesses are becoming far more health conscious than they once may have been. This could be because organisations are seeing what implications a healthy workforce could have on the performance of their business. Portafina conducted a survey using … [Continue reading]

8 easy ways to save water in your home

Brexit aside, water seems to be the topic that’s on everybody’s lips at the moment, or more specifically, how to save it. After the hot and arid summer we all “enjoyed” here in the United Kingdom in 2018, awareness around the importance of water and … [Continue reading]

Collecting Football Match programs and How to Profit form it

The popularity of football memorabilia fluctuates over time and at the moment it seems to be popular. However, just picking up random items will not make you a fortune, it is important to know exactly what you need to collect in order to profit the … [Continue reading]