Attorneys face 5 main financial challenges: 1) lack of time to manage finances due to long work hours, 2) disorganized finances from many opportunities and inconsistent income, 3) misunderstanding of appropriate investment risk, 4) difficulty balancing career and personal life, 5) complexity of retirement planning. A financial advisor familiar with attorneys' challenges can help by coordinating finances, implementing rational investments, reducing taxes, managing risks, and preparing for career transitions and retirement.
Everyone wants to be more financially secure, but don't know the basics of how to get there. This presentation is a roadmap with seven simple rules for financial success. It is part of a series of seminars offered by Saunders Learning Group on personal money management. You can now view the presentation here, order the Family Financial Freedom book from any of the ebook sites for iPhone, iPad, Kindle, Nook, Kobo reader etc. contact me at floyd.saunders@yahoo.com for a copy of the presentation or more information on how to get seminar materials.
This is an abbreviated version of Carl Sheeler's Pulse blog on Linkedin, 'What is your risk vs. opportunity optics?' The purpose of this material on Optics and the presentation about the 'Business Owner Paradox are inter-related.
Michael Schwartz outlines 11 common retirement planning mistakes and provides advice on how to avoid them. The key mistakes include failing to have a proper retirement plan, having improper asset allocation, failing to calculate taxes, and failing to plan for healthcare costs. Schwartz urges readers to evaluate whether they have planned for these issues and offers to discuss how to turn potential mistakes into future strengths. He provides more detail on the first two mistakes of failing to plan and having improper asset allocation, emphasizing the importance of developing a comprehensive retirement plan and properly diversifying investments across different asset classes.
This document discusses becoming a financial advisor. It outlines the rewards and challenges of the career, what to expect in the process, and whether it is the right career path. Key points include helping clients achieve financial goals, the multi-year training process, challenges such as prospecting and rejection, and ongoing company support through training and coaching. The document suggests this career may be a good fit for those with integrity, a desire to help others, strong listening and relationship building skills.
Cash, Connections and Chemistry - Angel investment in early stage technology ...Dave Litwiller
This document discusses actions that entrepreneurs and angel investors can take to build a successful partnership during early stage technology ventures.
For entrepreneurs, key actions include delivering a concise initial pitch, outlining a two to four month roadmap, responding quickly after meetings, focusing fully on term sheet negotiations, planning for different liquidity scenarios, and being open to sharing decision-making.
For angel investors, important contributions involve providing guidance over time, acting as a sounding board, leveraging their network, helping scenario plan, and sourcing interest for exits. Taking these steps can help qualify the relationship and increase the chances of investment success.
. A true financial advisor should be a well-educated, credentialed, experienced, financial professional who works on behalf of his clients as disputed to serving the interests of a financial institution
Everyone wants to be more financially secure, but don't know the basics of how to get there. This presentation is a roadmap with seven simple rules for financial success. It is part of a series of seminars offered by Saunders Learning Group on personal money management. You can now view the presentation here, order the Family Financial Freedom book from any of the ebook sites for iPhone, iPad, Kindle, Nook, Kobo reader etc. contact me at floyd.saunders@yahoo.com for a copy of the presentation or more information on how to get seminar materials.
This is an abbreviated version of Carl Sheeler's Pulse blog on Linkedin, 'What is your risk vs. opportunity optics?' The purpose of this material on Optics and the presentation about the 'Business Owner Paradox are inter-related.
Michael Schwartz outlines 11 common retirement planning mistakes and provides advice on how to avoid them. The key mistakes include failing to have a proper retirement plan, having improper asset allocation, failing to calculate taxes, and failing to plan for healthcare costs. Schwartz urges readers to evaluate whether they have planned for these issues and offers to discuss how to turn potential mistakes into future strengths. He provides more detail on the first two mistakes of failing to plan and having improper asset allocation, emphasizing the importance of developing a comprehensive retirement plan and properly diversifying investments across different asset classes.
This document discusses becoming a financial advisor. It outlines the rewards and challenges of the career, what to expect in the process, and whether it is the right career path. Key points include helping clients achieve financial goals, the multi-year training process, challenges such as prospecting and rejection, and ongoing company support through training and coaching. The document suggests this career may be a good fit for those with integrity, a desire to help others, strong listening and relationship building skills.
Cash, Connections and Chemistry - Angel investment in early stage technology ...Dave Litwiller
This document discusses actions that entrepreneurs and angel investors can take to build a successful partnership during early stage technology ventures.
For entrepreneurs, key actions include delivering a concise initial pitch, outlining a two to four month roadmap, responding quickly after meetings, focusing fully on term sheet negotiations, planning for different liquidity scenarios, and being open to sharing decision-making.
For angel investors, important contributions involve providing guidance over time, acting as a sounding board, leveraging their network, helping scenario plan, and sourcing interest for exits. Taking these steps can help qualify the relationship and increase the chances of investment success.
. A true financial advisor should be a well-educated, credentialed, experienced, financial professional who works on behalf of his clients as disputed to serving the interests of a financial institution
The document discusses four main areas of risk for small businesses: providing for employees and executives, protecting the business, transferring ownership of the business, and planning for personal financial independence. It provides strategies for managing risks in each of these areas, such as setting up retirement plans, buying key person insurance, implementing succession plans, and separating business and personal finances. The document also gives five tips for small business owners to get started with protection strategies, such as surveying employees and seeking professional guidance.
Independent Fund Directors - Hedge Fund GovernanceBell Rock Group
This guide provides a summary of the attributes to look for when appointing directors to the board of investment funds. It also raises a number of questions to ask when deciding on board composition for a hedge fund. Hedge fund governance should be an area of focus by investors as it is important that those tasked with overseeing the activities of the fund structure are suitably qualified, experienced and add real value to the board of the investment fund.
- Two new reports advise retirees to invest less in stocks and more in annuities, with one report recommending just 5-25% in stocks to minimize risk of running out of money.
- The GAO report also recommends annuities to avoid outliving savings, as well as delaying social security, working longer, investing wisely, and withdrawing no more than 3-6% annually in retirement.
- While annuities protect against outliving savings, experts say more education is needed to help people understand retirement savings needs and goals before focusing on products.
What's it like to work with The Independent Financial Group? Founding Principal Jim Lorenzen talks about how IFG may be different from other wealth management advisory firms.
This document provides an overview of 17 potential funding sources for ventures and startups. It discusses each source under the headings of pros and cons. The sources range from self-funding using personal savings to various forms of debt, equity investments from angel investors or accelerators, government grants, crowdfunding, and pre-sales. The document aims to help entrepreneurs understand their options for financing a new business idea and consider how the benefits and drawbacks of each source might apply to their unique situation and venture goals.
This document provides an overview of venture capital firms and investing. It discusses Impression Ventures, including their focus areas and typical deal sizes. It then covers various aspects of VC investing such as structures, business models, economics, and factors that can impact returns. Specifically, it outlines typical limited partnership agreements and general partner/management company roles. It also explains how VCs generate management fees and carried interest. Additionally, it discusses targets for venture capital returns, historical performance data, and challenges to achieving high returns given the power law distribution of outcomes. Finally, it notes some alternative VC models such as deal-by-deal funds and evergreen funds.
This document provides an overview of HawsGoodwin Investment Management's wealth management process and philosophy. It discusses the benefits of a disciplined, globally diversified approach that incorporates asset allocation, rebalancing, tax management strategies, and minimizing behavioral biases. The goal is to help clients preserve their lifestyle in changing markets by avoiding unnecessary risks and losses through an ongoing process of wealth planning, estate planning, investment planning, and portfolio monitoring.
This document provides seven steps to financial wellness and managing money-related stress. It discusses how financial problems can negatively impact health, and outlines major causes of financial stress like job loss fears and debt. It recommends prioritizing savings over spending, creating a budget, planning for life events, seeking advice, participating in employer benefits, and choosing investments that don't cause anxiety. Regular exercise, a healthy diet, and deep breathing can help cope with financial stress-related health issues.
This document discusses capitalization tables, which outline company ownership and financing. It notes that capitalization tables show who owns what percentage of a company and how much they invested. The document stresses the importance of determining ownership structure and creating detailed long-term financial projections to understand capital needs. It outlines common rounds of financing like founders', accelerators, friends and family, angels, and VC rounds, and how they allocate ownership percentages.
John Kendall of Independent Financial Advisers Lighthouse Financial Advice Limited provides financial advice to clients. He has 30 years of experience in large companies advising at board level. His financial planning process involves understanding a client's circumstances and goals, assessing their financial situation, developing recommendations, implementing plans, and providing regular reviews. He advises on areas like retirement planning, estate planning, business ownership, and taxation to help clients ensure they have sufficient funds.
C24 Fraud In The Workplace (3 Mock Trials)Pw Carey
The document discusses fraud in the workplace and provides information about fraud trials and whistleblowers. It discusses Cressey's fraud triad of perceived unshareable need, opportunity, and rationalization. It provides steps in a trial process and discusses mistakes whistleblowers commonly make. The rest of the document appears to be mock trial materials, including opening statements, witness testimony, and details about a $128 million settlement in a case between the GSA and NetApp regarding undisclosed discounts.
This document summarizes equity financing options for businesses. It discusses that equity financing involves selling stock, membership, or partnership interests in exchange for cash or property. The benefits are that there is no fixed repayment date, funds can be used flexibly, and no assets are tied up as collateral. However, the costs are dilution of ownership and control, as well as having to consider minority owner interests. Equity financing may be better for growth businesses, those with few assets for loans, or those with inconsistent revenues for debt payments.
The NMS Exchange For Endwments and Foundations 2013 Keith Dixson
The document discusses several topics:
1) Implementing a risk factor framework for institutional investors to allocate risk budgets across factors rather than asset classes.
2) Governance being the centerpiece of sustainable value creation, with institutional investors needing to focus on long-term goals and align interests between managers and investments.
3) An article questioning if alpha is the best measure of hedge fund performance and whether opportunity cost may be a better gauge.
This document summarizes an advisory board meeting to create an investor-driven agenda. It thanks the advisory board members for their time and input. It then provides an agenda for the two-day meeting, which includes panels on the global economy, the state of the hedge fund industry, best practices for risk management, and achieving non-correlated returns. The agenda also lists the panelists and moderators for each session.
The document discusses various options for raising capital to fund startup growth, including equity financing, debt financing, bootstrapping, government grants and loans, angels, venture capital firms, strategic investors, and debt investors. It provides an overview of the advantages and disadvantages of each approach, as well as examples of financing sources available in Arkansas, such as the Fund for Arkansas' Future angel fund.
St. Bonaventure Friday Financial Forum September 26, 2014Kevin Wenke
$500 x 2 people x 52 weeks = $52,000 per year in premiums
Commission on first year premiums is 50-100% = $26,000 - $52,000
Commission on renewal premiums is 10-20% = $5,200 - $10,400 per year
Total potential first year earnings = $26,000 - $52,000
Total potential renewal earnings = $5,200 - $10,400
So total potential earnings in year 1 is $26,000 - $52,000
Total potential earnings each year after is $5,200 - $10,400
The document discusses trust deed investing as an alternative investment approach. It provides an overview of trust deed financing, including that it involves direct lending secured by real estate. It then gives examples of how financial planners have used trust deed investments to enhance fixed income portfolios, diversify equity-heavy portfolios, and help fund healthcare costs and longer lifespans in retirement planning.
This document provides an overview of financial planning services to help clients achieve their goals. It discusses the importance of addressing financial comfort, retirement planning, taxes, family needs, education, and legacy building. It then outlines a comprehensive wealth advisory process that includes discovery of client goals, analysis of their financial situation, development of a customized plan, implementation with a team of experts, and ongoing monitoring. The goal is to help clients gain confidence and security in their financial future by staying disciplined and focused on long-term objectives, rather than being swayed by short-term emotions in the markets.
The document discusses various financial concepts related to investing, saving, and wealth management. It defines the differences between saving and investing, with saving focusing on short-term goals and emergencies while investing aims for long-term growth. It also covers risk management strategies like diversification and dollar cost averaging. Additional topics include cash management, tax planning, credit management, home ownership, retirement planning, and considerations for further education. The document provides information to help readers make informed financial decisions.
The document discusses four main areas of risk for small businesses: providing for employees and executives, protecting the business, transferring ownership of the business, and planning for personal financial independence. It provides strategies for managing risks in each of these areas, such as setting up retirement plans, buying key person insurance, implementing succession plans, and separating business and personal finances. The document also gives five tips for small business owners to get started with protection strategies, such as surveying employees and seeking professional guidance.
Independent Fund Directors - Hedge Fund GovernanceBell Rock Group
This guide provides a summary of the attributes to look for when appointing directors to the board of investment funds. It also raises a number of questions to ask when deciding on board composition for a hedge fund. Hedge fund governance should be an area of focus by investors as it is important that those tasked with overseeing the activities of the fund structure are suitably qualified, experienced and add real value to the board of the investment fund.
- Two new reports advise retirees to invest less in stocks and more in annuities, with one report recommending just 5-25% in stocks to minimize risk of running out of money.
- The GAO report also recommends annuities to avoid outliving savings, as well as delaying social security, working longer, investing wisely, and withdrawing no more than 3-6% annually in retirement.
- While annuities protect against outliving savings, experts say more education is needed to help people understand retirement savings needs and goals before focusing on products.
What's it like to work with The Independent Financial Group? Founding Principal Jim Lorenzen talks about how IFG may be different from other wealth management advisory firms.
This document provides an overview of 17 potential funding sources for ventures and startups. It discusses each source under the headings of pros and cons. The sources range from self-funding using personal savings to various forms of debt, equity investments from angel investors or accelerators, government grants, crowdfunding, and pre-sales. The document aims to help entrepreneurs understand their options for financing a new business idea and consider how the benefits and drawbacks of each source might apply to their unique situation and venture goals.
This document provides an overview of venture capital firms and investing. It discusses Impression Ventures, including their focus areas and typical deal sizes. It then covers various aspects of VC investing such as structures, business models, economics, and factors that can impact returns. Specifically, it outlines typical limited partnership agreements and general partner/management company roles. It also explains how VCs generate management fees and carried interest. Additionally, it discusses targets for venture capital returns, historical performance data, and challenges to achieving high returns given the power law distribution of outcomes. Finally, it notes some alternative VC models such as deal-by-deal funds and evergreen funds.
This document provides an overview of HawsGoodwin Investment Management's wealth management process and philosophy. It discusses the benefits of a disciplined, globally diversified approach that incorporates asset allocation, rebalancing, tax management strategies, and minimizing behavioral biases. The goal is to help clients preserve their lifestyle in changing markets by avoiding unnecessary risks and losses through an ongoing process of wealth planning, estate planning, investment planning, and portfolio monitoring.
This document provides seven steps to financial wellness and managing money-related stress. It discusses how financial problems can negatively impact health, and outlines major causes of financial stress like job loss fears and debt. It recommends prioritizing savings over spending, creating a budget, planning for life events, seeking advice, participating in employer benefits, and choosing investments that don't cause anxiety. Regular exercise, a healthy diet, and deep breathing can help cope with financial stress-related health issues.
This document discusses capitalization tables, which outline company ownership and financing. It notes that capitalization tables show who owns what percentage of a company and how much they invested. The document stresses the importance of determining ownership structure and creating detailed long-term financial projections to understand capital needs. It outlines common rounds of financing like founders', accelerators, friends and family, angels, and VC rounds, and how they allocate ownership percentages.
John Kendall of Independent Financial Advisers Lighthouse Financial Advice Limited provides financial advice to clients. He has 30 years of experience in large companies advising at board level. His financial planning process involves understanding a client's circumstances and goals, assessing their financial situation, developing recommendations, implementing plans, and providing regular reviews. He advises on areas like retirement planning, estate planning, business ownership, and taxation to help clients ensure they have sufficient funds.
C24 Fraud In The Workplace (3 Mock Trials)Pw Carey
The document discusses fraud in the workplace and provides information about fraud trials and whistleblowers. It discusses Cressey's fraud triad of perceived unshareable need, opportunity, and rationalization. It provides steps in a trial process and discusses mistakes whistleblowers commonly make. The rest of the document appears to be mock trial materials, including opening statements, witness testimony, and details about a $128 million settlement in a case between the GSA and NetApp regarding undisclosed discounts.
This document summarizes equity financing options for businesses. It discusses that equity financing involves selling stock, membership, or partnership interests in exchange for cash or property. The benefits are that there is no fixed repayment date, funds can be used flexibly, and no assets are tied up as collateral. However, the costs are dilution of ownership and control, as well as having to consider minority owner interests. Equity financing may be better for growth businesses, those with few assets for loans, or those with inconsistent revenues for debt payments.
The NMS Exchange For Endwments and Foundations 2013 Keith Dixson
The document discusses several topics:
1) Implementing a risk factor framework for institutional investors to allocate risk budgets across factors rather than asset classes.
2) Governance being the centerpiece of sustainable value creation, with institutional investors needing to focus on long-term goals and align interests between managers and investments.
3) An article questioning if alpha is the best measure of hedge fund performance and whether opportunity cost may be a better gauge.
This document summarizes an advisory board meeting to create an investor-driven agenda. It thanks the advisory board members for their time and input. It then provides an agenda for the two-day meeting, which includes panels on the global economy, the state of the hedge fund industry, best practices for risk management, and achieving non-correlated returns. The agenda also lists the panelists and moderators for each session.
The document discusses various options for raising capital to fund startup growth, including equity financing, debt financing, bootstrapping, government grants and loans, angels, venture capital firms, strategic investors, and debt investors. It provides an overview of the advantages and disadvantages of each approach, as well as examples of financing sources available in Arkansas, such as the Fund for Arkansas' Future angel fund.
St. Bonaventure Friday Financial Forum September 26, 2014Kevin Wenke
$500 x 2 people x 52 weeks = $52,000 per year in premiums
Commission on first year premiums is 50-100% = $26,000 - $52,000
Commission on renewal premiums is 10-20% = $5,200 - $10,400 per year
Total potential first year earnings = $26,000 - $52,000
Total potential renewal earnings = $5,200 - $10,400
So total potential earnings in year 1 is $26,000 - $52,000
Total potential earnings each year after is $5,200 - $10,400
The document discusses trust deed investing as an alternative investment approach. It provides an overview of trust deed financing, including that it involves direct lending secured by real estate. It then gives examples of how financial planners have used trust deed investments to enhance fixed income portfolios, diversify equity-heavy portfolios, and help fund healthcare costs and longer lifespans in retirement planning.
This document provides an overview of financial planning services to help clients achieve their goals. It discusses the importance of addressing financial comfort, retirement planning, taxes, family needs, education, and legacy building. It then outlines a comprehensive wealth advisory process that includes discovery of client goals, analysis of their financial situation, development of a customized plan, implementation with a team of experts, and ongoing monitoring. The goal is to help clients gain confidence and security in their financial future by staying disciplined and focused on long-term objectives, rather than being swayed by short-term emotions in the markets.
The document discusses various financial concepts related to investing, saving, and wealth management. It defines the differences between saving and investing, with saving focusing on short-term goals and emergencies while investing aims for long-term growth. It also covers risk management strategies like diversification and dollar cost averaging. Additional topics include cash management, tax planning, credit management, home ownership, retirement planning, and considerations for further education. The document provides information to help readers make informed financial decisions.
If this book were a fairy tale, perhaps it would have a happier en.docxwilcockiris
If this book were a fairy tale, perhaps it would have a happier ending. The unfortunate fact is that the individual investor has few, if any, attractive investment alternatives. Investing, it should be clear by now, is a full-time job. Given the vast amount of information available for review and analysis and the complexity of the investment task, a part-time or sporadic effort by an individual investor has little chance of achieving long-term success. It is not necessary, or even desirable, to be a professional investor, but a significant, ongoing commitment of time is a prerequisite. Individuals who cannot devote substantial time to their own investment activities have three alternatives: mutual funds, discretionary stockbrokers, or money managers.
Mutual Funds
Mutual funds are, in theory, an attractive alternative for the individual investor, combining professional management, low transaction costs, immediate liquidity, and reasonable diversification. In practice, they mostly do a mediocre job of managing money. There are, however, a few exceptions to this rule.
For one thing, investors should certainly prefer no-load over load funds; the latter charge a sizable up-front fee, which is used to pay commissions to salespeople. Unlike closed-end funds, which have a fixed number of shares that fluctuate in price according to supply and demand, open-end funds issue new shares and redeem shares in response to investor interest. The share price of open-end funds is always equal to net asset value, which is based on the current market prices of the underlying holdings. Because of the redemption feature that ensures both liquidity and the ability to realize current net asset value, open-end funds are generally more attractive for investors than closed-end funds.1
Unfortunately for their shareholders, because open-end mutual funds attract and lose assets in accordance with recent results, many fund managers are participants in the short-term relative-performance derby. Like other institutional investors, mutual fund organizations profit from management fees charged as a percentage of the assets under management; their fees are not based directly on results. Consequently, the fear of asset outflows resulting from poor relative performance generates considerable pressure to go along with the investment crowd.
Another problem is that open-end mutual funds have in recent years attracted (and even encouraged) "hot" money from speculators looking to earn quick profits without the risk or bother of direct stock ownership. Many highly specialized mutual funds (e.g., biotechnology, environmental, Third World)
have been established in order to exploit investors' interests in the latest market fad. Mutual-fund-marketing organizations have gone out of their way to encourage and even incite investor enthusiasm, setting up retail mutual fund stores, providing hourly fund pricing, and authorizing switching among their funds by telephone. They do not discourage the .
Women can't afford to avoid investing, but they don't have to do it alone either. Do your due dilligence on selecting a financial advisor who actually has additional credentials beyond just being licensed to sell you an investment. Ask the advisor how long they have been in the business, and what have they done to become a better advisor since they started. Just because someone has been in the business 15 years, doesn't mean they haven't simply repeated the first year 14 other times!
The document outlines 10 reasons to use a financial adviser:
1) They can help assess your needs and recommend the best options to protect yourself and your family from financial hardship due to personal tragedy.
2) They can help plan both your spending and saving to build assets and wealth as efficiently as possible for both short and long-term needs.
3) They can help plan for retirement by sorting through pension and investment options to maximize your long-term prospects.
Investing Rules You Should Never Break is a concise and practical guide that provides investors with essential principles for successful and sustainable investing. This e-book covers the fundamental rules that every investor should follow to avoid costly mistakes and achieve their financial goals.
The book offers insights and advice on how to create a diversified investment portfolio, manage risks, and maximize returns. It also includes strategies for managing emotions and avoiding common behavioral biases that can lead to poor investment decisions.
Investing Rules You Should Never Break is an excellent resource for both novice and experienced investors who want to improve their investment outcomes. The tips and strategies presented in this e-book are actionable and backed by research, making it a reliable guide for anyone seeking to invest wisely and profitably.
This document discusses five key concepts for working towards financial goals:
1) Leverage diversification to reduce risk by not putting all eggs in one basket.
2) Seek lower volatility to enhance returns by avoiding emotional decisions during market fluctuations.
3) Use global diversification to enhance returns and reduce risk by including international markets.
4) Employ asset class investing by allocating across major asset classes like stocks and bonds.
5) Design efficient portfolios by balancing risk and return through low-cost, passive investments. The advisor believes focusing on these concepts can help investors make informed decisions and achieve their financial objectives.
The document provides an overview of investing basics for those new to the stock market. It discusses key concepts like understanding investment risks, gaining expertise over time through practice rather than just reading theories, starting to invest early to benefit from compound interest, setting clear investment objectives, developing an appropriate investment strategy, maintaining a diversified portfolio, controlling emotions, and adjusting one's portfolio over time in response to market changes. The document emphasizes that investing requires ongoing learning and adapting to changing market conditions.
This document provides solutions to end-of-chapter problems for a financial management textbook. It begins with an introduction explaining that the solutions manual provides answers to all review questions and problems in the textbook. The solutions manual then lists the chapter solutions in its table of contents. The first sample problem solved provides the role of an accountant versus a financial analyst and the role of a financial manager in a publicly traded company. The document appears to be a solutions manual for students and instructors using a principles of finance textbook. It provides concise answers and steps to quantitative and conceptual problems at the end of chapters.
This document provides an overview of financial planning and investing. It explains that financial planning can help achieve life goals and outlines the importance of having a plan. It also discusses key investing concepts like risk, return, diversification and different asset classes. The document notes that financial advisers can help create suitable investment portfolios and administer them over the long term. Overall, the summary emphasizes that financial planning and investing are important for working towards financial goals at different life stages.
This document provides financial advice for newlywed couples on various topics including budgeting, investing, buying a home, and planning for a family. It emphasizes the importance of open communication about finances between partners and suggests couples create a joint budget, share financial responsibilities, and find a process that works for their unique situation. Specific tips are provided on budgeting, common investment products and strategies, factors to consider when buying a home, and financial aspects of planning for a family. The overall message is that discovering each partner's financial attitudes, experiences, and goals early in the relationship can help prevent later stress and arguments.
This document provides an introduction to investing and key concepts like risk and return. It explains that balancing risk and return is important for achieving financial goals. While higher risk investments offer potential for greater returns, they also carry more uncertainty. The document advocates diversifying investments across different asset classes like stocks, bonds, property and cash to reduce risk. It provides data showing how various asset classes have performed over time, with higher risk assets generally providing higher average returns but also more variability in returns. The key is choosing an appropriate mix of assets based on an individual's risk tolerance and time horizon.
The document provides information on 12 different careers in finance, including investment bankers, financial analysts, venture capital analysts, chief financial officers, portfolio managers, risk analysts, treasurers, credit managers, cash managers, benefits officers, personal financial advisors, and real estate officers. It details the typical job responsibilities, qualifications, and average salaries for each role. The document also discusses popular finance certification courses and the top courses in finance such as Chartered Accountant, Company Secretary, and Cost and Management Accountant. It provides an overview of the structure and fees associated with each course.
In this presentation, we will be looking at simple strategies to help you grow and protect your finances as suggested by experts at the upcoming finance conference, the MoRE 2.0 Conference.
Investors should ask their investment managers three key questions to determine if their portfolio is on track for long-term performance and properly aligned with the investor's interests. The questions are: 1) What is my asset allocation strategy? Asset allocation is the most important factor in long-term returns. 2) What is my total cost of ownership? High fees can significantly reduce long-term returns. 3) Are you a fiduciary? Investments should not be influenced by compensation incentives that are not in the investor's best interests. Periodically asking these questions can help investors assess if their portfolio and advisor are suitable for their long-term financial goals.
Step 1: Protect yourself and your family through proper insurance policies that cover disabilities, health issues, and death.
Step 2: Pay off any existing high-interest debts and loans as quickly as possible to avoid accumulating more interest.
Step 3: Maintain an emergency fund equal to 3-6 months' worth of income in a liquid account to prepare for unexpected expenses.
Step 4: Once the above financial foundation steps are in place, any remaining money can be considered for investment with a long-term approach and awareness of investment risks.
This document provides an overview of various careers in finance, including investment banking, private equity, venture capital, equity research, broking/trading, banking, insurance, mutual funds/asset management, hedge funds, corporate finance, treasury, and other emerging areas. It describes typical job roles at different levels for each of these career paths and outlines the key responsibilities and functions within each area of finance. Sample job descriptions, career journeys, and tips for resumes and interviews are also included.
The trustee plays an important role in ensuring a trust meets its objectives. When selecting a trustee, the creator of the trust must consider appointing either a personal confidant, relative, or professional with the necessary expertise to impartially manage the trust. An individual trustee may have intimate knowledge of beneficiaries but lack skills, while professional trustees have expertise but less personal connections. The ideal trustee can provide loyalty, expertise in legal, tax, and investment matters, and make impartial decisions for the lifetime of the trust.
This document provides an overview of key concepts from several finance chapters. It includes definitions of finance, the three major financial decisions of investment, financing, and asset management. It also discusses why wealth maximization rather than profit maximization should be the main goal of a firm. Key concepts like agency problem, how it is solved, corporate social responsibility, risk and return, types of risk, and attitudes toward risk are summarized. The document is a study guide providing questions and answers on these topics from various textbook chapters.
Similar to How to overcome the top five financial challenges attorneys face (20)
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
Using Online job postings and survey data to understand labour market trends
How to overcome the top five financial challenges attorneys face
1. How to Overcome the Top Five
Financial Challenges Attorneys Face
By Michael Evans
2. There are few professions that demand as much advanced education and on-the-job
proficiency as that of the attorney. However, many attorneys remain at a disadvantage
when managing their hard-won wealth. Neither their college education nor their life’s
calling provide the time and tools it takes to tackle yet another talent – i.e., managing their
family’s financial well-being.
CHALLENGE 1: Time is NOT on an attorney’s side.
Attorneys are incredibly busy, with every ticking moment accounted for. Eighty-hour work
weeks billed in six-minute increments are the norm. Any leftover hours are best spent
enjoying family and personal interests, leaving little time or desire to fuss over the
household finances.
Our goal today is to help readers understand and avoid the top five financial
challenges attorneys face as an inherent part of their profession. These include:
Attorneys also face unique challenges that can mar their complete investment
picture.
A late start. The average attorney finishes law school at age 27, and it can take
several years for a law school graduate to make partner at a firm.
Massive student loan debt. Law school isn’t cheap; law school graduates leave
school with an average of $140,616 of student loan debt.
Increased professional liability risks. With the number of large legal malpractice
claims increasing year after year, many attorneys worry about malpractice
lawsuits.
Higher burnout. Long days, long hours, and high levels of stress, lead to higher,
early-career burnout for attorneys, compared to other professionals.
Challenge 1: Time is NOT on an attorney’s side.
Challenge 2: Attorneys enjoy an (over)abundance of opportunities.
Challenge 3: Not every risk is worth avoiding.
Challenge 4: It’s hard to get off the treadmill and live a little.
Challenge 5: Retirement happens … but how?
http://www.acelsat.com/how-old-is-too-old-for-law-school
http://abovethelaw.com/2015/08/how-are-lawyers-managing-their-law-school-debt-most-will-never-be-able-to-pay-it
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http://www.insurancejournal.com/news/national/2013/06/27/296979.htm
http://www.abajournal.com/magazine/article/how_lawyers_can_avoid_burnout_and_debilitating_anxiety
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855.382.8388 conversations@thecogentadvisor.com
3. In other words, it’s not that attorneys don’t have the intellect to develop an investment
plan, allocate their assets and oversee the progress toward their financial goals. They’ve
just got higher demands on the hours in their day.
An attorney’s inconsistent income stream is equally demanding. Varying caseloads,
year-end bonuses, and other volatile income events within and across the years make it
difficult to manage the invariant need for smoothly operating cash flow, tax and
retirement planning in their personal lives.
Squeezed between a tight time table and an unpredictable income stream, many
attorneys thus lose their grip on the proverbial financial ball. For example, they may fail to
take full advantage of their company retirement plan, make best use of disability
insurance coverage, or optimize their investment portfolio toward funding their
long-term goals.
The Game Plan: Attorneys spend many hard years nurturing their careers, and
understandably want to enjoy the fruits of their success. However, those same
professional demands make it hard to stay on top of their personal financial interests. A
financial professional who is familiar with an attorney’s distinct challenges can serve as
the all-important missing link between earning stellar income and making best use of it
over time.
855.382.8388 conversations@thecogentadvisor.com
4. CHALLENGE 2: Attorneys enjoy an (over)abundance of opportunities.
While increased financial opportunity is desirable, it also demands increased organization:
Organization to fund future goals, manage potential risks, enjoy life today and prepare for
a satisfying retirement.
Why does organization matter so much? The more an attorney’s finances are in current
disarray, the harder it becomes to make wise financial decisions moving forward. The uphill
climb steepens, until it’s nearly impossible to see the total view, identify financial gaps to
be filled, and determine how and where one’s hard-earned assets can be put to best use.
The Game Plan: With everything else going on in their lives, an attorney’s financial picture
often grows increasingly disorganized. Attorneys are well-served by having a solid strategy
for aligning their financial assets with their personal goals. Bringing financial order to an
attorney’s universe helps them make the most of their many wealth-related opportunities.
CHALLENGE 3: Not every risk is worth avoiding.
If there’s one thing the legal profession teaches its practitioners, it’s how to minimize the
risks that a case may not go their way. But this specialized expertise in risk management
translates imperfectly into managing their investments, where risk plays a different role.
In investing, a measure of risk is not only desirable but essential when accumulating
wealth to fund long-term goals such as retirement. On the flip side, when saving for
short-term goals, such as putting a down-payment on a house, market risk typically plays
second fiddle to ensuring stable preservation of the assets. This is why most portfolios are
built with an appropriate mix of stocks (for wealth generation) and bonds (for wealth
preservation).
At the same time, with attorneys’ wide income fluctuations, new money often occurs in fits
and starts. This can call for more frequent attention to proper portfolio maintenance
through disciplined asset allocation and periodic rebalancing. To provide an analogy, it’s
like knowing how to adeptly steer a boat toward its destination in uncommonly choppy
waters.
855.382.8388 conversations@thecogentadvisor.com
5. The Game Plan: An attorney’s expertise in managing professional risks often runs
counter to the kinds of risk management required to manage efficient investment
portfolios. With the disconnect, attorney’s “do it yourself” portfolios are often full of
holdings that are needlessly risky, needlessly expensive, and unsuitable for the their
actual short and long-term needs. A professional investment manager can help
attorneys discover and make best use of the science of investing, including how to
appropriately harness the risks and expected rewards inherent to
our capital markets.
CHALLENGE 4: It’s hard to get off the treadmill and live a little.
Attorneys are often primary breadwinners in their families, and they feel the pressure to
maintain their high income. They’ve worked hard throughout their career to succeed,
and they want to make sure their assets will work hard for them in return.
We’ve spoken with many attorneys who tell us, eventually, they begin to wonder why
they’re working so hard. The answer is: They want to provide for their families; enjoy their
career, lifestyle and retirement; leave a legacy for loved ones and potentially
philanthropic interests.
But burnout is often an attorney’s biggest burden. Then what?
The Game Plan: Beyond just tallying up investment dollars, or planning for individual
financial goals, a seasoned wealth manager can help attorneys create a sustainable
work-life-money balance by fitting the various people and pieces involved into a unified
whole. Many attorneys are highly motivated to take the appropriate steps. But first, they
have to learn what those steps are; next, they could usually use a “personal CFO” to help
execute and oversee them.
855.382.8388 conversations@thecogentadvisor.com
6. CHALLENGE 5: Retirement happens … but how?
After navigating past mid-career burnout, attorneys are usually left very aware that success
requires pacing, patience and (most of all) planning – especially when preparing for
long-term outcomes. These insights apply just as well on the job as they do toward an
eventual, satisfying retirement.
Most attorneys can envision wanting to stop working someday. But, while they know
success typically demands solid prep work, getting a confident grip on the details of when,
how, and how much can be unnerving.
Moreover, retirement planning can be especially complex for attorneys. as their firms often
provide myriad retirement plan options, from the traditional 401(k) to defined benefits
plans and non-qualified deferred compensation plans. These can be incredibly lucrative
opportunities, but they need to be well-managed to maximize their worth. There are tax
implications to carefully consider, along with cash-flow constraints, employee matches,
investment options, and more. Now multiply each of these issues by the number of other
retirement accounts and assets a family may hold, and divide by how well they are
integrated into a cohesive strategy.
The Game Plan: Attorneys are in a unique position because they often have ample
resources to save aggressively for retirement, but those resources are often held across a
tangle of accounts, representing far-flung interests and based on volatile, often
unpredictable payouts. Preparing for a relaxing retirement under these circumstances can
be a lot of work, with opportunities lost to improper oversight. “Investing” in a professional
advisor to organize and optimize an attorney’s many financial opportunities can be money
very well spent.
855.382.8388 conversations@thecogentadvisor.com
7. The Cogent Advisor: An Attorney’s Personal CFO
Attorneys face shared challenges as well as unique personal circumstances, which means
no broad approach to wealth management will fit each individual in the field. The finest
financial outcomes require personalized guidance based on a clear understanding of an
attorney’s personal and professional interests, goals, values, likely risks and hoped-for
rewards.
At The Cogent Advisor, we are uniquely qualified to help in this capacity. With more than
35 years of industry experience, our advisors specialize in serving attorneys and their
families as their personal CFO, helping them dramatically simplify their financial lives, so
they can reserve their time and energy to pursue all that is important to them.
For this, we instill a process – the Cogent Course of Action™ – to align with and address the
top five financial challenges attorneys face (limited time, organizational obstacles, risk
management, balancing ambition with burnout, and properly preparing for retirement).
Big picture, we add strategic value by helping attorneys:
Define short and long-term goals. What does an attorney and his or her family seek in
the immediate future? How do they envision their retirement?
Distill values and priorities. What is most important to you? What do you want to
accomplish at home and in the office? What are an attorney’s family values and legacy
goals?
Understand and prepare for unique challenges. Based on an individual’s career path,
circumstances and needs, what financial challenges do they face? How can we plan for
both the expected and unexpected setbacks they may experience?
Maximize opportunities and strengths. How can we seize an attorney’s personal
strengths, and turn their stellar earnings into durable wealth for the future? What are
the family’s current financial positions and how can we better coordinate them with
their employee benefits?
855.382.8388 conversations@thecogentadvisor.com
8. 855.382.8388 conversations@thecogentadvisor.com
At a more granular level, we also roll up our sleeves and assist with the heavier lifting:
Accelerating understanding. Well-educated attorneys don’t want to just blindly “do;”
confidence comes from (quickly) understanding why it’s being done, what else might be
available, and whether the risks and rewards add up. Integral to all we do, we offer
ongoing learning, packaged in digestible formats, ready to process.
Investing rationally. For attorneys’ investments, we replace the typical emotional and
behavioral financial biases with rational, informed, evidence-based decision-making.
Then we help implement and manage attorneys’ investments accordingly.
Reducing taxes. To ensure that otherwise sound financial strategies don’t fall victim to
unanticipated taxable outcomes, we integrate broad and efficient tax planning across
everything we do.
Managing personal and professional risks. Attorneys face more risks than usual. We
help them define their greatest and most likely risks (usually, death, illness, disability and
professional claims), evaluate their preparedness for them, and align cost-effective
coverage with individualized needs.
Articulating estate plans. We also ensure an attorney’s assets are properly aligned with
their personal intents – for both their family and their business interests.
Establishing charitable intent. If an attorney wants to give back to their community or
an organization they’re passionate about, we offer a guided tour through the tax-efficient
options available.
Preparing for transitions. At work and at home, an attorney’s life is often full of
transitions. Our process doesn’t stop after initial plans are complete; it includes regularly
revisiting one another, to review existing progress and explore any new ideas or events
that may affect the overall plan.
Take the Next Step
We understand that attorneys are often highly motivated to take the necessary steps
toward aligning their life with their goals, organizing their opportunities and adeptly
managing the related risks. But wealth management is complex, and doing it “right” is
time-consuming.
The Cogent Advisor has the people, processes and personal experience in place to help
attorneys dramatically simplify their financial lives, while confidently converting their
stellar income into durable wealth. We also offer professional second opinions from an
objective source as part of our complimentary Cogent Conversation®.
To learn more about our Cogent Course of Action™ or to schedule a Cogent Conversation®,
call our office at 312-382-8388 x1 or email Michael@TheCogentAdvisor.com
9. About Michael
Michael Evans is a wealth manager and
the founder of The Cogent Advisor, a
fee-only, independent Registered
Investment Advisory firm in Chicago.
He leads an advisory team with 35+
years of industry experience, serving
successful families as their personal
CFO, helping them simplify their
financial lives in pursuit of all that is
important to them. If you see yourself
benefitting from his approach, please
reach out to Michael by calling
312-382-8388 x1 or emailing
Michael@TheCogentAdvisor.com.
The Cogent Advisor
233 South Wacker Drive
84th Floor
Chicago, IL 60606
312.382.8388
855.382.8388
www.TheCogentAdvisor.com
conversations@thecogentadvisor.com
855.382.8388 conversations@thecogentadvisor.com