What is Your Money Mode?

You work hard for your money. You have plans and dreams for now and for your future. Sometimes we are so busy generating revenue that we do not think about how we can preserve it or use it to ensure we have a solid financial future. Let’s look at your money mode. 

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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?

 

Financial Abundance

abundanceThis is a question that I love. It evokes many thoughts from the incredibly greedy to the thoughtful giving. When we put ourselves in a state of need we can block the greatness that can create abundance.

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Wealth or Finances?

I recently asked a woman about her wealth accumulation plans. She was completely unenrolled in the topic. When I asked her why she replied,” I am not wealthy nor will I ever be!”  I asked her “ How do you feel about your finances?” She completely opened up.

Does the word WEALTH frighten you? If so why?

thinking

I see WEALTH as an abundance in every area of life. We do gravitate to assume it only means the state of being rich; material prosperity.

Houses of wealth can be be found in your Health,Financial, Family or Love areas as an example.

 

I heard something today and it was mind blowing by Van Mueller. Did you know that our country has 323 million people in it and 162 million of them are on benefits, We have 50 million retirees and we had more workers in the year 2000 then there are right now! We are over $19.4 Trillion in debt and it will take EIGHT GENERATIONS to fix this.

 

Why do people get paid on Friday and by Monday morning they are BROKE? What is that thinking or lack of thinking?

 

If you saved one million dollars for your retirement today at 5% growth would you feel set for life?

Let’s look .

After taxes (apx 30%) You would have about $35,000 in annual income. Just about $3,000 in monthly income! If you were accustomed to making $8,000 monthly could you actually live on less than half of that? Let me answer for you. NO.
Back to the woman I started speaking about. She got it! Wealth is positive, Finance is positive. She needed  a conversation that no one would have with her. You have untapped options and I can help. Why not have financial quality in your life. It’s not about putting your money at RISK, It’s about making sure it’s not volatile!

The Bank Account Most Women Entrepreneurs Are Neglecting

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We only have so much time, money, and energy. The problem I see with many women entrepreneurs is that most of those precious resources are used to get more clients and grow their bank account through investing in sales, marketing, and social media courses and coaches, while way less of those resources are used on the health side – taking care of their bodies through proper nutrition, hydration, sleep, mental rest, and physical activity.

On a daily basis, I work with women in midlife who have been taking care of everyone else most of their lives and they reach their fifties and wonder what happened to their bodies, when and how did they gain all this weight?

The answer is usually because while taking care of other’s needs, they have putting their own needs on the backburner for far too long.

I find the same being true for most women entrepreneurs, especially in midlife. Many that I meet have worked a corporate job for 30 years and hated it. When they hit midlife, they wanted to start a business and do something they really love – something that will make a difference in people’s lives.

While I love this change of career and newfound purpose, what I often see is the same thing happening – they use their new career to help others, while neglecting to take proper care of their own selves.

Do we women entrepreneurs need to spend our time, money, and energy learning how to build our businesses using marketing, sales, and social media? Absolutely! We need to know these things in order to build our businesses, right? But, the key question is, “At what cost?”

When was the last time you invested your time, money, and energy in a wellness coach?

A wellness coach, like myself, takes a holistic approach to helping you create lifestyle changes such as work/life balance, decreasing stress, increasing the quality of your sleep and nutrition, and most importantly, what this healthy lifestyle leads to is a longer life, which means doing your thing and serving your people for many, many more years, which leads to more money in your bank account.

What I’m suggesting is not that you stop investing in business courses and coaches, but that that you look ahead and use your wisdom to invest in the next 30+ years of your life.

Health must be at the top of your list, especially as a women entrepreneur. While money can buy a lot of things, it cannot buy you your health back. Your health must be earned over time and the time to start is always right now.

If you continued on today, business as usual, what would your health look like in 30 years?

Can you make a few small investments in your health bank account that will compound over time?

Trust that investing your time, money, and energy in your health and self-care will pay you the biggest interest over time.

There are two great ways to start:

  1. Download my free guide – “5 Steps to Becoming a Healthy, Wealthy, and Wise Woman Entrepreneur in Your 50s” here: http://www.transformationwellnessforwomen.com/healthy-wealthy-wise/
  2. Join my free Facebook group – “Healthy, Wealthy, and Wise Women Entrepreneurs in Midlife with Kim Acedo” here: https://www.facebook.com/groups/healthywealthyandwisewomenentrepreneurs/

Remember, serve your people, but also serve yourself. Over time, you will find that both your money bank account as well as your health bank account will overflow. Isn’t that what you want for you? And isn’t that what you want for your clients?

Be the change. Set the example. Inspire your clients through your healthy way of life.

 

 

 

Tips to Show Your Bookkeeper You Love Them Part 1

office-620822_1280I recently read as blog post by Melanie Power who is the Director – Power Finance and Head of Bookkeeping at the online bookkeeping software company, Xero. In her article, she discussed 6 tips on how to work well with your bookkeeper and let them know you appreciate them. Here is what she had to say:

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The Money Tree

Lu Casillas Article 4 Image money treeHypothetically, what if you could have your own money tree? What dreams and desires would it feed? Could it give you more freedom? Perhaps more things. When I asked ten women this question, it was interesting to hear many say they wanted more THINGS, like purses, cars and clothing. Only a small percentage was thinking long-term.

Long-term thinking is crucial today. Does that sound boring? What’s not being addressed is lowering your future taxes and limiting volatility, making sure that if you become ill, you will have the funds to protect your family and/or received treatments deserved without losing your hard-earned money.

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Are You Having This Conversation?

Girlfriend are youAre you thinking about your money? Or, is it a thought that passes like a ship in the night? In speaking with women there is one common theme with regard to their money. Never Enough! Why? Today women make more money than ever.

If we’re making it we need to preserve it. Why is dropping 3% – 6% into a tax deferred plan or investing in volatile plans thought to be the end all? Do you know where your money is being put to grow or even what deferred taxes could potentially be in the future? How about your old 401k plans from past jobs? They are volatile when sitting.

If we look at the DOW over a 16 –  year span here is what the growth was.

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The Need To Make Money 24/7

passive money

Why the need to make money 24/7? There is a misconception that the root of all evil is money.

In reality, money creates options and freedom;

the option to make choices when life hands you the unexpected and the freedom to afford it.

Do you feel excited or stressed when I say, “make money 24/7?”

I would hope it’s excited. If not, let’s look at making a shift. We’re definitely busy sometimes working full time  in and out of the home. However, the key in today’s society is building an income that pays you even when you’re not working.

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Your Money Mindset

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I would say enrolling people in the conversation of “their money”  is the most challenging part of what I do.

Let’s look at a few things we can do to change your mindset about money starting with the already, always conversation that so many of us generally can or say about the future.

  1. I don’t have enough money.
  2. I will never be able to retire because I work paycheck- to- paycheck.
  3. I have a retirement plan.
  4. I am young (Gen Y & Gen X) therefore; I have plenty of time.
  5. I am too old to make what I do count, (Baby Boomer) so why start now?
  6. I make money and I can’t take it with me so I am spending it all.

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