C-Suite Network™

Menu
Search
Close this search box.

Category: Advice

Categories
Advice Capital Entrepreneurship Growth Investing Personal Development Real Estate Skills Strategy Wealth

Smart Passive Income is a Dangerous Myth: Why You Shouldn’t Fall for It

 

 

Introduction:

Are you tired of working hard for your money? Do you dream of living a life of luxury without lifting a finger? If so, you may have fallen for the myth of smart passive income. In this article, I will argue that the idea of passive income is not only misleading but also dangerous. Contrary to popular belief, there is no easy way to make money, and those who claim otherwise are either lying or ignorant. So, buckle up and get ready to have your world turned upside down.

 

The Fallacy of Passive Income: Why It’s Not Real

Smart passive income is a term that has been thrown around a lot in recent years. It suggests that you can make money without doing anything or very little work. The truth is, there is no such thing as passive income. Even if you’re making money from investments, you still need to put in the effort to make informed decisions, and even then, there are risks involved. If you want to make money, you need to put in the effort.

 

The Risks of Passive Income: Why It’s Dangerous

Not only is the idea of passive income misleading, but it’s also dangerous. Many people have fallen for the promise of easy money and ended up losing their life savings. Investing in stocks, real estate, or any other form of passive income carries significant risks. The idea that you can make money without doing anything is a fallacy, and those who believe it are setting themselves up for failure.

 

Passive Income Requires More Work Than You Think

Passive income is often sold as an easy way to make money, but the reality is much different. Whether it’s creating an online course, writing an e-book, or investing in stocks, all forms of passive income require a lot of hard work upfront. Even after you’ve put in the effort, there’s no guarantee of success. The idea that you can make money without doing any work is a fantasy.

 

 

The Reality of Passive Income: Why It’s a Myth

The idea of passive income is a myth perpetuated by those who want to sell you something. The truth is, there’s no easy way to make money. Whether it’s through investing, creating a business, or working a 9-5 job, all forms of income require effort. Those who claim otherwise are either lying or trying to sell you something. Don’t fall for the myth of passive income.

 

The Limits of Passive Income: Why It’s Not Sustainable

Even if you’re lucky enough to make money from passive income, it’s not sustainable in the long run. Markets change, investments fluctuate, and businesses fail. The idea that you can make money without putting in any effort is not only a fallacy but also a dangerous one. If you want to make money, you need to be willing to put in the effort.

 

The Importance of Active Income: Why It’s Necessary

In conclusion, there’s no easy way to make money. Unless you’re born from it…

The idea of passive income is a myth perpetuated by those who want to sell you something. If you want to make money, you need to be willing to put in the effort. Active income is the only real income.

Whether it’s through creating a business, investing in your education, or working a 9-5 job, all forms of income require effort. The key is to find something you’re passionate about and work hard to achieve your goals. Don’t fall for the myth of smart passive income. It’s a dangerous and misleading idea that will only lead to disappointment and failure.

 

Conclusion:

The idea of smart passive income is a dangerous myth that should be debunked. While it’s tempting to believe that you can make money without doing anything, the reality is much different. Making money requires effort, hard work, and sometimes a little bit of luck. There’s no shortcut to success, and those who claim otherwise are either lying or ignorant. If you want to make money, you need to be willing to put in the effort.

Active income is the only real income, and it’s the key to achieving financial freedom and success. So, don’t fall for the myth of smart passive income. Instead, focus on finding something you’re passionate about and work hard to achieve your goals.

For more information visit tylerhayzlett.com

Categories
Advice Marketing Negotiating

Is Your Small Business Ready to Franchise? . . . A Checklist of Basic Considerations

Many owners of small to medium-sized businesses dream of turning their companies into franchises, and with good reason. Becoming a franchise could let your company expand rapidly into new regions, become a nationally recognized brand, increase your bottom line, and offer other meaningful returns.

But the reality is, not all companies are ready to transition and become franchises. Another reality is that a number of companies try to become franchises but fail in that attempt because they are not prepared.

With that said, what are some of the basic assets you should have in place before you try to franchise your business? Here is a checklist for you to review.

Do you have the following?

  • A proven business model – You should have a proven business model – preferably one that has been successful in multiple locations. If you do, you have a business model that can be replicated in different markets.
  • Strong profits and financial stability – If your company is not performing strongly, don’t expect a franchise structure to cure that problem. Your company should have a strong financial track record with positive cash flow and a healthy balance sheet. This will provide potential franchisees with confidence that they will succeed.
  • Brand recognition – A well differentiated brand is a big consideration. A strong brand is essential for a successful franchise system. Your company should have established brand recognition that can continue to expand.
  • A well-defined customer base – Do you know who your customers are and why they buy from you? If you don’t, you will have a difficult time supporting your franchises as they attract new customers and repeat business.
  • Excellent training – Work with a training development company and create excellent training programs before you start to sell franchises. When prospective franchise owners see that you will train them in all aspects of running your franchise, they will have greater confidence because they will see you are invested in their success.
  • Committed leadership and management teams – The company should have strong leaders who are committed to the success of the franchise system. These executives should have a clear vision for the future of the company and the franchise system.

And Remember, You Can’t Do It All!

Yes, you built your business, and nobody knows it as well as you do. But please be modest enough to accept the fact that you might not personally have all the knowledge that your new franchise will need to succeed. I would encourage you to bring in a franchise consultant – if not permanently, for at least long enough to get your new franchise off to a strong start. And build a top franchise management team that brings you all the legal, business, accounting, supply chain, marketing, and technology knowledge you need to be stronger than your competitors in the marketplace.

Getting the expertise you need can make your franchise a stunning success on the franchising landscape.

Evan Hackel, Entrepreneur, Author, Speaker, Podcaster

As author, speaker and Evan Hackel has been instrumental in launching more than 20 businesses and has managed a portfolio of brands with systemwide sales of more than $5 billion. He is the creator of Ingaged Leadership, is author of the book Ingaging Leadership Meets the Younger Generation and is a thought leader in the fields of leadership and success.

Evan is the CEO of Ingage Consulting, Delta Payment Systems, and an advisor to The Learning Network (formerly Tortal Training). Reach Evan at ehackel@ingage.net, 781-820 7609 or visit www.evanhackelspeaks.com

Categories
Advice Branding Entrepreneurship Growth IT Marketing Operations Sales Training Strategy Technology

Revolutionize Your Marketing Strategy: The Top Email Marketing Software platforms of the Year

 

 

As a business, email marketing is an essential tool to reach out to prospects, build relationships, and generate leads. With numerous email marketing platforms available, it can be challenging to determine which one is best suited for your business.

In this article, we will discuss the top email marketing platforms for B2B businesses.

 

What is B2B Email Marketing?

B2B email marketing is the process of sending promotional messages via email to businesses or individuals who work in businesses. The goal of B2B email marketing is to create awareness, generate leads, and build relationships with prospects that may eventually convert into customers.

 

Why is Email Marketing Important for B2B Businesses?

Email marketing is a cost-effective way to reach out to prospects, build relationships, and generate leads. It is estimated that for every $1 spent on email marketing, businesses can expect an average return of $42. This makes email marketing a crucial tool for B2B businesses looking to grow their customer base.

 

Top Email Marketing Platforms for B2B Businesses

Here are the top email marketing platforms for B2B businesses:

1. HubSpot

HubSpot is a popular inbound marketing platform that offers a suite of tools for email marketing, CRM, social media, and content management. With its easy-to-use drag-and-drop email builder, HubSpot allows you to create personalized emails that resonate with your audience. It also provides robust analytics that can help you measure the effectiveness of your email campaigns.

 

2. Mailchimp

Mailchimp is a cloud-based email marketing platform that allows you to create, send, and track email campaigns. With its user-friendly interface, Mailchimp makes it easy to design and send professional-looking emails. It also offers features such as A/B testing, segmentation, and automation that can help you optimize your email campaigns.

 

3. Constant Contact

Constant Contact is an email marketing platform that provides a wide range of features such as email templates, list management, and reporting. With its easy-to-use interface, Constant Contact allows you to create and send professional-looking emails that are tailored to your audience. It also provides robust analytics that can help you track the success of your email campaigns.

 

4. Campaign Monitor

Campaign Monitor is an email marketing platform that offers a variety of features such as drag-and-drop email builder, automation, and segmentation. With its customizable templates and responsive design, Campaign Monitor allows you to create emails that look great on any device. It also provides detailed analytics that can help you measure the effectiveness of your email campaigns.

 

5. Sendinblue

Sendinblue is a cloud-based email marketing platform that offers features such as email design, list management, and automation. With its intuitive interface, Sendinblue allows you to create and send professional-looking emails that are tailored to your audience. It also provides detailed analytics that can help you track the success of your email campaigns.

 

6. Pardot

Pardot is a marketing automation platform that offers a suite of tools for email marketing, lead management, and analytics. With its drag-and-drop email builder and automation features, Pardot allows you to create personalized emails that resonate with your audience. It also provides robust analytics that can help you measure the effectiveness of your email campaigns.

 

7. Marketo

Marketo is a marketing automation platform that provides a variety of features such as email marketing, lead management, and analytics. With its drag-and-drop email builder and automation features, Marketo allows you to create personalized emails that are tailored to your audience. It also provides robust analytics that can help you track the success of your email campaigns.

 

8. ActiveCampaign

ActiveCampaign is a cloud software platform for small-to-mid-sized businesses and is based in Chicago, Illinois. The company offers software for customer experience automation, which combines the transactional email, email marketing, marketing automation, sales automation, and CRM categories

For more information visit tylerhayzlett.com

Categories
Advice Leadership Networking

The Motivation Show meets Gianni Russo who played Carlo Rizzo in The Godfather

Gianni Russo is a colorful character in real life as well as in the numerous movie roles he played.  Best known for his role as Carlo Rizzi in the original 1972 film The Godfather, Russo sat down with me for a chat about his tell-all book Hollywood Godfather: My Life in the Movies and the Mob which describes in vivid detail his dual life in the movies and in the real life mob as a mafia associate.   Wait til you hear about some of the incredible people he palled around with including some of the infamous ladies he was…well…let’s just say he was associated with. 

When asked what it is what like growing up and how did he get involved with the mob, Gianni says he grew up on Mulberry Street in Little Italy and in 1949, he became bedridden and quarantined with polio for five years. Who was Gianni’s nurse in his ward at Bellevue?  Carlo Gambino’s niece he says!   Destiny?    His primary source of entertainment and distraction from his distressed and depressed state was a transistor radio. When he turned on the radio, he discovered Frank Sinatra was born the same day.   He says Sinatra became his mentor and singing teacher.   Gianni met a guy Sinatra knew by the name of Frank Costello (not to be confused with Lou Costello), the infamous mob boss of the Luciano crime family.   Gianni used to sell ballpoint pens in front of the Sherry Netherland hotel and Costello would go there every morning for a shoe shine.   “He gave me some money, some words of advice…and never took a pen (I’d hate to think where that pen may have eventually ended up if he did).  I stuck with Costello til the day he died in 1973.”  Right behind Gianni as we spoke on Zoom was a dining room table that can seat 16 people.  As a different kind of wise guy that I am, I quipped about “if only that table could talk,” oh what interesting tales it can tell.   Gianni found that amusing and said jokingly “I would be indicted again.”   Oops.   I asked Gianni to further elaborate on what exactly a Mafia Associate actually entailed.  “That’s why I never got locked up. Carlo Gambino and Costello made sure that I was only a messenger.”    He said he was even registered as a bona fide messenger and courier registered with Lloyd’s of London…pretty clever if you ask me.    

What about this famous code of silence and why did wise guys start signing like canaries, I ask?  The new RICO laws (The Racketeer Influenced and Corrupt Organizations Act) enacted in 1970 changed everything.  “The feds were allowed to take all of the assets you acquired while being in the mob.  Omerta went out the window.  Everybody became singing canaries.  That’s why these guys started flipping.” 

What were the rules that Gianni knew to live by to keep Frank Costello on his good side?   “Don’t lie to me.  Be on Time.  Talk to Nobody.”   In the late 1990’s, I once flew Don Miguel Ruiz, the author of “The Four Agreements” to New York to promote his mega bestselling book.  With these new rules, I can now write a new book destined to be a bestseller called “The Three Agreements: A Mafia Guide to Not Getting Rubbed Out”…bada boom! 

At the age of 25, Gianni came out of nowhere and was cast in the original Godfather movie as Sonny Corleone’s brother-in-law.   How did he feel about getting that plum role?    “I am making a couple of thousand dollars a week already.  I just wanted to do it for ego.”   Gianni says that after 45 minutes of rehearsal one day, Brando tells Coppola he has to rethink the part.  Gianni puts his arm around Brando and says dead seriously “You get me fired, I will suck on your heart.  You will bleed out here right now.”  Brando’s reaction?  Gianni says Brando told him “That was brilliant!”    To Gianni’s amusement, he says Brando “thought I was acting.”    I ask Gianni who is the most interesting person he worked with in his film career.    “Brando!  He was so generous.”

Then there’s the famous nightclub Gianni owned in Sin City, and the night where he shot and killed in self-defense, unknowingly, a henchman of notorious Columbian drug lord Pablo Escobar and had to survive the hit that was put out on him.   Perhaps the most remarkable revelation among many, was his relationship with Marilyn Monroe.   What became of his dalliance with Hollywood’s most glamorous starlet of the day?  You will have to listen to my podcast to find out in an ending that even Hollywood couldn’t come up with!

You can listen to the Gianni Russo interview on The Motivation Show C-Suite Network Radio https://c-suitenetwork.com/radio/shows/the-motivation-show/ or any podcast listening platform     To contact Eli, email motivatea2z@gmail.com.

Categories
Advice Branding Entrepreneurship Growth Marketing Skills

Why Traditional Marketing is Dead: The Case for Contrarian Marketing

 

 

Introduction:

In today’s digital age, businesses are obsessed with online marketing and social media. But what if I told you that this approach is outdated and ineffective?

For over 15 years, I have been a marketer and I can confidently say that the traditional approach to marketing is dead. Instead, I propose a contrarian approach to marketing that goes against the grain and is rooted in authenticity, individuality, and innovation.

In this article, I will outline why contrarian marketing is the future and why businesses should embrace it.

 

The Problem with Following the Crowd: Don’t be a Lemming

Traditional marketing follows a herd mentality where everyone is copying the same strategies and tactics. But how can you stand out when you’re doing the same thing as everyone else? Instead, contrarian marketing means standing out from the crowd and doing something different. Be the person who stands up and takes a risk. The most successful businesses have always been those who dared to do something different.

 

The Power of Authenticity: Be Yourself

In the age of social media, authenticity is everything. People are tired of seeing the same polished, fake content. Contrarian marketing means being true to yourself and your brand. Share your story, your struggles, and your successes. This is what sets you apart and builds a loyal following.

 

The Importance of Individuality: Don’t Be a Clone

Contrarian marketing means embracing your unique identity and not trying to fit into someone else’s mold. It means being true to your brand and your vision. This is what sets you apart and makes you stand out in a crowded market.

 

Innovation is Key: Don’t Fear Failure

Contrarian marketing means taking risks and embracing failure. It means trying new things and pushing the boundaries. Innovation is what drives success and sets you apart from your competitors. Don’t be afraid to try new things, even if they might not work out. Every failure is a learning opportunity.

 

Building a Loyal Following: Fans, Not Customers

Contrarian marketing means building a community around your brand. It means creating fans, not just customers. People want to feel like they’re part of something bigger than themselves. By building a loyal following, you create a group of people who will advocate for your brand and spread the word.

 

The Future is Contrarian: Embrace the Future

Contrarian marketing is the future. With the rise of social media and the internet, traditional marketing is becoming less effective. Consumers are becoming more savvy and are tired of being sold to. Contrarian marketing means embracing the future and adapting to new technologies and trends.

 

Conclusion:

In conclusion, contrarian marketing is the way of the future. It means standing out from the crowd, being true to yourself, embracing innovation, building a loyal following, and adapting to new trends. Traditional marketing is dead, and businesses that don’t embrace contrarian marketing risk being left behind.

So, take a risk, be authentic, and embrace the future of marketing.

For more information visit tylerhayzlett.com

Categories
Advice Best Practices Branding Entrepreneurship Growth Marketing Networking Personal Development Skills

The Power of Personal Branding: How to Build a Strong Online Presence

 

 

 

Introduction:

In today’s digital age, building a strong online presence is critical for individuals and businesses alike. One of the most effective ways to do this is through personal branding. Personal branding is the process of creating a unique identity and image for oneself in the eyes of others, whether it’s online or offline. It involves showcasing one’s strengths, expertise, and values to build a strong reputation and attract opportunities. In this blog post, we’ll explore the power of personal branding and how you can build a strong online presence.

 

Define Your Personal Brand

Before you start building your personal brand, it’s important to define who you are and what you want to be known for. Begin by identifying your unique strengths, skills, and values. Ask yourself questions such as: What sets me apart from others? What do I want to achieve in my career or personal life? What are my core values?

Once you’ve identified your unique attributes, it’s time to create a personal brand statement. This statement should capture the essence of who you are and what you stand for. It should be short, memorable, and easy to understand. Use your personal brand statement as a guide when creating your online presence.

When creating your online presence, make sure to use consistent branding across all platforms. This includes using the same profile picture, bio, and visual elements such as color schemes and fonts. Consistency is key when it comes to personal branding.

 

Create a Strong Online Presence

Now that you’ve defined your personal brand, it’s time to create a strong online presence. This involves using social media platforms, blogs, and websites to showcase your expertise and build your reputation.

Start by choosing the social media platforms that are most relevant to your personal brand. For example, if you’re a photographer, you might want to focus on Instagram and Pinterest. If you’re a business professional, LinkedIn might be the platform for you.

When creating your social media profiles, make sure to optimize them for search engines. This includes using keywords related to your personal brand in your bio and posts. Use high-quality visuals that reflect your personal brand and engage with your audience regularly.

Blogging is another effective way to build your personal brand. By sharing your knowledge and expertise, you can establish yourself as an authority in your industry. Use your personal brand statement as a guide when creating blog content. Make sure to promote your blog on social media to reach a wider audience.

Finally, consider creating a personal website. This is a great way to showcase your portfolio, share your story, and connect with potential clients or employers. Make sure your website is easy to navigate, visually appealing, and optimized for search engines.

 

Engage with Your Audience

Engaging with your audience is crucial when it comes to building a strong online presence. This involves responding to comments, asking for feedback, and creating a sense of community around your personal brand.

Make sure to respond to comments and messages promptly. This shows that you value your audience and are interested in their feedback. Ask for feedback and incorporate it into your personal brand strategy.

Creating a sense of community around your personal brand can be achieved through various means. Consider starting a Facebook group or hosting a Twitter chat related to your industry. This allows you to connect with like-minded individuals and establish yourself as a thought leader in your field.

 

Conclusion:

Personal branding is a powerful tool for building a strong online presence. By defining your personal brand, creating a strong online presence, and engaging with your audience, you can establish yourself as an authority in your industry and attract opportunities. Remember to be authentic, consistent, and engaged to build a personal brand that truly reflects who you are.

For more information visit tylerhayzlett.com

Categories
Accounting Advice Capital Entrepreneurship Growth Investing Strategy Wealth

Bootstrapping for Beginners: How to Build Your Business with Sweat Equity

 

Introduction

If you’re starting a business, chances are you’ve heard about the term bootstrapping. In simple terms, it means building a business without external funding. Instead, you rely on your own resources, hard work, and creativity. It’s a challenging but rewarding way to build a business, and in this article, we’re going to explore how you can do it too.

 

What is bootstrapping?

Bootstrapping means starting and growing your business with minimal external support or investment. Instead, you rely on your own resources, skills, and sweat equity. It’s a popular approach for many entrepreneurs who want to keep control of their business and avoid the constraints that come with external funding.

Bootstrapping can take many forms. You might start small and build up your business over time. You might launch a product or service and reinvest your profits to grow your business. Or you might leverage your network and community to get the resources you need. Whatever approach you choose, the key is to be resourceful, creative, and persistent.

The Benefits of Bootstrapping

There are several benefits of bootstrapping your business. First, you retain full control over your business. You don’t have to answer to investors or partners, and you can make decisions based on what’s best for your business and your customers.

Second, bootstrapping forces you to be more resourceful and creative. When you don’t have a lot of money to spend, you have to find innovative ways to get things done. This can lead to more efficient and effective business processes, as well as unique products and services.

Finally, bootstrapping can lead to a more sustainable and profitable business. When you rely on your own resources, you’re more mindful of how you spend your money and time. You’re less likely to overspend or waste resources, which can lead to a more sustainable business in the long run.

 

How to Bootstrap Your Business

Bootstrapping requires a lot of hard work, dedication, and creativity. But if you’re up for the challenge, here are some tips to help you get started:

1. Start Small

When you’re starting a business with limited resources, it’s important to start small. Don’t try to do everything at once. Instead, focus on one product or service and make it the best it can be. This will allow you to build a strong foundation for your business and generate revenue to reinvest in growth.

2. Prioritize Your Spending

When you’re bootstrapping, every dollar counts. It’s important to prioritize your spending and focus on what’s essential for your business. Invest in things that will help you generate revenue, such as marketing and product development, and cut back on non-essential expenses.

3. Leverage Your Network

Your network can be a valuable resource when you’re bootstrapping. Reach out to friends, family, and colleagues for help and support. You might be surprised at how willing people are to lend a hand or make an introduction.

4. Focus on Customer Acquisition

When you’re bootstrapping, it’s important to focus on customer acquisition. You need to generate revenue to reinvest in your business and grow. Focus on building a strong customer base and delivering a great product or service. Word of mouth can be a powerful marketing tool, so make sure you’re delivering value to your customers.

5. Embrace Sweat Equity

Bootstrapping requires a lot of hard work and dedication. You might have to work long hours, take on multiple roles, and make sacrifices. But if you’re willing to put in the effort, the rewards can be significant. Embrace sweat equity and

 

Conclusion

Bootstrapping can be an effective way for entrepreneurs to start and grow their businesses without external funding. By using personal savings, revenue generated by the business, and available credit, entrepreneurs can maintain full control over their ventures, save costs, and focus on generating revenue. Successful bootstrapping requires careful planning, hard work, and creativity. Entrepreneurs should create a detailed business plan, prioritize marketing and sales efforts, and use technology to their advantage. By following these tips, entrepreneurs can bootstrap their way to success.

For more information visit tylerhayzlett.com

Categories
Advice Best Practices Personal Development Strategy

My Kids Love Video Games — Should I Be Concerned?

Dear Katherine: My Kids Love Video Games — Should I Be Concerned? 

Dear Katherine,

My kids love playing video games. They seem to take genuine pleasure in this activity, and while they’re occupied, I have a chance to do household chores and enjoy a little time to myself.

I know there are better hobbies out there—but if they like gaming and it gives me a bit of space, is that so wrong? Am I making a parenting mistake by letting them play?

Sincerely,

Guilty As Charged

Hey there, Guilty As Charged,

First of all, you have nothing to feel guilty about here! Check your shame at the door. We’re all human.

Gaming—and screen-time in general—is a sore spot in many parent-child relationships. It’s hard to imagine eliminating these activities because, as you said, your kids enjoy playing video games, and you enjoy having some space. Not to mention that screen-time has become an undeniable part of children’s social lives.

But of course, “too much” of anything can be a problem.

So what constitutes “too much” in terms of gaming? The answer: It depends.

Rest assured that you probably don’t have to put an end to your kids’ gaming. This kind of hobby can have a place in a healthy, well-rounded child’s life. The issue is when it becomes an addiction.

I did a webinar with Cam Adair (founder of Game Quitters, the world’s largest support platform), who once struggled with video game addiction. He dropped out of school, lied to his parents about having a job, and eventually experienced suicidal ideation. At the height of his problem, he was gaming 16 hours a day.

We talked about how one of the risk factors for full-fledged gaming addiction is using video games as a coping mechanism or a means of escape. The amount of time someone spends gaming matters much less than why they’re gaming in the first place.

Here’s a good litmus test: If your child is gaming and you ask them to stop—for dinner, homework, or something else—are they capable of easily walking away? If so, there may not be cause for concern.

If they have trouble walking away, there may not be cause for concern either.  If they are in the middle of getting to that next level at the very moment you call for them, they may just need a few more minutes! 

It’s also important to take a holistic view of your kids’ lives outside of gaming.

Are they doing well in school?

Do they have nice friends?

Are they generally kind and happy?

Do they get proper exercise and nutrition?

The answers to those questions will help you determine if playing video games is a solution for another problem—or just another activity that brings your children joy.  

If you are concerned, Game Quitters—Cam’s game addiction support community—is an excellent resource. But first, start a conversation with your kids about their gaming habits. Good old-fashioned quality time and better parent-child communication may be enough to keep them from entering unhealthy territory.

Tell your child that you want to spend time together as a family, and be sure to plan activities that excite them. Steer clear of using power and control because that is guaranteed to activate the 3Rs (retaliation, rebellion and resistance) and generate a resentment flow.

I hope this response gave you some peace of mind, Guilty As Charged. Your kids’ love for video games is likely healthy and normal.

Love and Blessings, 

Katherine

P.S.: Do you have a gut feeling that your kid’s gaming obsession is an escape from other unmet needs? Watch our free webinar and take a deeper dive to understand how to get rid of retaliation, rebellion and resistance here.

Categories
Advice Leadership Wealth Women In Business

Secure Your Retirement: The Importance of ‘Dementia Insurance’ for Retirees

Retirement is supposed to be a time of relaxation and enjoyment, but for many retirees, it can be a source of stress and anxiety. One of the biggest challenges for retirees is managing thier finances. With traditional pension plans becoming less common, many retirees must rely on their own savings, such as their 401(k) plan, to finance their retirement. And while the accumulation phase of saving for retirement can be difficult, it’s nothing compared to the challenges retirees face during the distribution phase.  

As retirees begin to withdraw money from their savings to pay for their expenses, they must also contend with the possibility of cognitive decline. According to recent studies, over half of people in their 80s suffer from dementia or cognitive impairment without dementia. This can make managing finances a daunting task, leaving retirees vulnerable to financial fraud and mishandling of funds.  

Fortunately, there is a solution: ‘dementia insurance.’ This concept, proposed by Harvard economist David Laibson, refers to the use of annuities to help protect retirees from poor financial decisions associated with dementia. An annuity is a financial product that provides a stream of income in exchange for a lump sum payment. By purchasing an annuity early in retirement, retirees can transform their savings into a stream of lifetime income, which can help simplify financial decision-making and protect against fraud.  

The cheapest way to purchase the best annuity is to delay claiming Social Security benefits. For those with modest 401(k) balances, the ideal strategy may be to work as long as possible, then use 401(k) assets to pay for living expenses to delay claiming an extra two or three years. The Social Security annuity is indexed for inflation, which is a feature that is hard to find in the private market.  

While the idea of purchasing an annuity may seem daunting, it’s important to remember that it can provide peace of mind and security during retirement. With the specter of cognitive decline looming, it’s crucial for retirees to plan ahead and take steps to protect their financial future. By considering the purchase of an annuity, retirees can enjoy their golden years with confidence and security. So, don’t wait any longer – start exploring your options for ‘dementia insurance’ today!  

For more Healthy Money Tips Listen to our PodCast  “Money 911” Subscribe to my Youtube channel youtube.com/@healthymoneyhappylife Sign up for a Financial Fitness Strategy Session at Meet with Kris Miller – Financial Fitness Strategy Sessions Go to my website  healthymoneyhappylife.com Email me at Kris@HealthyMoneyHappyLIfe.com Call me at (951) 926-4158

Categories
Advice Wealth Women In Business

From Illness to Financial Stability: How to Secure Your Future and Protect Your Health

Don’t let illness cripple your financial stability! We all know that health is wealth, but have you ever considered that wealth is also health? When illness strikes, it can be a devastating blow to your finances, leaving you with huge medical bills and a looming sense of financial insecurity. However, with some proper planning and smart investments, you can prevent illness from turning your financial life into a catastrophe.

The first step to financial preparedness for illness is to make a financial plan. You need to evaluate your current assets and estimate your future expenses, taking into account any disability-related costs. A professional financial advisor can help you create a plan that will ensure financial stability for you and your family.

One of the best ways to protect yourself financially during illness is to invest in disability and life insurance. These investments will provide a safety net for you and your family when you need it most. Another smart investment strategy is to have at least 6 months’ worth of income saved in a liquid form, as a security blanket in case of emergency.

Sharing financial information with your partner or spouse is also crucial, especially if you are the sole breadwinner in your family. You should also check your employer’s disability plan and be informed about worker’s compensation, as they can be instrumental in maintaining your financial stability in times of illness.

Investments and financial portfolios should be evaluated on a regular basis, and debt should be avoided as much as possible. Luxuries such as home appliances and cars should be purchased only if you can afford them, and long-term investments should be made with the guidance of a financial advisor.

Ultimately, consolidating all financial information in one place and making the right investments is the key to ensuring financial stability during times of illness. Don’t wait until it’s too late – start planning today to prevent illness from turning your financial life into a catastrophe.

For more Healthy Money Tips Listen to our PodCast  “Money 911” Subscribe to my Youtube channel youtube.com/@healthymoneyhappylife

Sign up for a Financial Fitness Strategy Session at Meet with Kris Miller – Financial Fitness Strategy Sessions

Go to my website https://healthymoneyhappylife.com

Email me at Kris@HealthyMoneyHappyLIfe.com

Call me at (951) 926-4158