The Fab 5 – The Foundation You Need to Take You to New Heights

The Fab 5 – The Foundation You Need to Take You to New Heights

When it comes to business, we tend to go solo. We step out on a wing and a prayer and hope for the best. We may take the time to sketch out a business plan. However, we don’t always have a people strategy. This means more than just the people on the team who sell and deliver your products and services. Consider those with the wisdom you need to avoid the “normal” potholes of running a business.

I call them my Fab 5 Board of Advisors. You can call on them for wise counsel when needed. Your investment in these relationships has a positive impact on your company sustainability. Let me introduce you to them.

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The Power of 10

With so much conversation about money and ideas on what and where to put it, do you ever just want to ask the question, can you HELP me?

Then we start talking about it to friends and now as a group, we are all the expert.  Sometimes with everyone acting as the expert sharing what they thought did or didn’t work, has now become more like the old game we played as kids called “Telephone.”  The words passed from ear-to-ear change and ultimately the information is incorrect. We may hear about someone’s unfortunate outcome with an annuity. When the person was actually put into a plan that wasn’t correct for them in the first place. They only know the pain of their particular experience. After hearing all of this you now become mentally paralyzed.  In reality, there are some great annuities that will pay you for the rest of your life and can be transferred to a beneficiary:  Win-Win.

Example: An income of $100,000

How about that saying of putting 10 percent of your money away annually for retirement?  Let’s put away $833 a month for the next ten years.  It almost seems unattainable. First reaction, “Oh my gosh, are you kidding me?”

Now if I say to you, let’s create a plan for ten years based on your income of $100,000 and fund it with $10,000 annually with guarantees that you will not only have growth capped, meaning that there will be a ceiling and a floor so that you never lose principle. Growth is compound and guaranteed; one that will offer you a larger amount to pull from in case of an emergency, will reduce future taxes and pay you a tax-free income for life. WHAT WOULD YOU SAY?

We need multiple streams of income going forward. Are you ready?