Financial Fitness – Mid-Year 2022 Check-In

Summer will officially be here soon, but before kids get out of school and all the vacation planning you did begins to come to fruition, it can be a good idea to take stock of your financial picture and make updates where necessary. Below are a few things you should consider to keep your plan in shape. We’ve organized them by life stage, from having small kids to being closer to retirement. We’ve also included charitable giving, as that happens at every stage.

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GMB #132: From Tech Founder to Venture Capital & Real Estate Investor with Zain Jaffer

The world of real estate is full of opportunities for investors who strive to build wealth using innovative strategies. This week on Grow Money Business, we have a fascinating conversation with Zain Jaffer. Zain is a tech entrepreneur, a real estate investor, and the founder of Vungle, which was sold to Blackstone for $780 million in an all-cash transaction in 2019. Today, he invests in real estate and real estate technology businesses through both venture capital and private equity funds.

 

 

Show Notes

[02:15] Zain’s experience – Zain describes what he finds so appealing about real estate investing.

[09:58] Investment Opportunities – Zain shares what he looks for in new investment opportunities and how he assesses whether or not they are a suitable fit.

[16:54] Institutional Impacts on Real Estate – Zain and Grant discuss the argument that institutional interest in residential real estate is making it more challenging for individuals to purchase their own homes.

[22:15] PropTech Startups – Zain describes his future career goals and plans to continue investing in PropTech startups.

[26:33] More on Real Estate Investing – Zain shares some common themes he hears presented from startups seeking investments.

[34:09] Zain’s Journey – Zain outlines his professional journey, starting with the founding of Vungle, to his eventual $780 million exit.

[41:05] Cryptocurrency – Zain shares his thoughts on cryptocurrency.

 

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GMB #131: Everything You Need to Know About Digital Estate Planning With Hannah

Have you ever thought about what happens to your social media accounts when you pass away? Do you consider yourself familiar with the legal frameworks that need to be put in place to ensure your spouse has access to all of your online accounts? Our guest this week is Hannah Shakin, an attorney in Downey Brand’s estate planning department. Hannah is a qualified estate planning, probate, and trust administration specialist. Throughout the episode, Hannah shares her insight on the ins and outs of digital estate planning, as well as how you can protect yourself from making the common mistakes she sees regularly in her practice.   

 

 

Show Notes

[02:15] Hannah’s Background – Hannah shares her background and describes what she does on a day-to-day basis at her practice. 

[04:42] Digital Estate Planning – Hannah describes both the evolution and the current state of digital estate planning.  

[15:33] RUFADAA – Hannah details the elements of The Revised Uniform Fiduciary Access to Digital Assets Act.  

[19:45] Facebook – Hannah discusses social media accounts, and what happens to them when you pass.  

[23:47] Digital Assets – Hannah defines what is considered a digital asset and explains why it is vital to establish a living trust to avoid probate.  

[35:49] More on Estate Planning – Hannah explains why individuals must modify their estate plans, and shares which assets will or will not be passed into a trust.  

[44:41] Contingency Planning – Hannah discusses the importance of your exit strategy aligning with your estate plan.  

[47:28] Common Mistakes – Hannah identifies the most common mistakes that she sees business owner’s make in her practice.  

[52:24] IRA and Trust – Hannah elaborates on various facets of individual retirement accounts and trusts. 

 

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The Structure Matters: Choosing the Right One for Your Business

The choice of a corporate structure for a business has many consequences: a crucial impact on the business’s taxes, your ability to raise funds, the paperwork you must file, and perhaps most important, your personal liability.

Fortunately, you can change your mind and convert to another business structure later on, but as with all legal matters, it is not that simple; switching could have a few negative impacts. For example, your state may have restrictions about these changes, and there could be tax consequences, among other issues.

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Selling a Family Business: Preparing for a Transformational Event

It’s generally thought that there are several cycles that reflect where a business is in preparedness for a sale. These capture the economy, the market, and the mindset and planning of the business owners.

From an economic standpoint, the liquidity cycle is the one that matters. This cycle gauges the amount of available liquidity and the current appetite of investors to invest in companies.1 With record amounts of cash sloshing around looking for investments and interest rates continuing to be low, the liquidity cycle is currently at an advantageous point, and looks poised to remain so.While getting the right price is clearly a big consideration, there are a lot of other things to think through that are just as important.

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GMB #130: Innovation in Stock Market Structure: A 40 Year History Lesson With Kenny Polcari

With the widespread adoption of retail investing and the usage of handheld devices, investing and stock trading have become easier than ever. However, in the 1980s, it used to be an entirely different story. This week on Grow Money Business, we bring you an informative and entertaining conversation with a stock trading veteran who has been in the industry during many of the defining moments of the financial markets over the last four decades. Kenny Polcari, Managing Partner Kace Capital Advisors, joins us today to dive deep into how the stock market structure has evolved over the last few decades.

 

 

Show Notes

[02:54] Getting to Know Kenny – We start the conversation with Kenny’s long career in the financial sector and discuss what the New York Stock Exchange was like when Kenny began his career in the 80s.

[08:16] Building a Career – Kenny reflects on a couple of stories from the early years of his career and how he progressed through the industry.

[15:23] Stock Trading in the 80s – Kenny talks about the way stock markets worked in the 80s and why that environment was exciting.

[22:50] Members of Stock Exchange – Kenny explains the role of a member of the New York Stock exchange.

[27:17] Technology – Kenny discusses early applications of computer-based analytics for financial markets and how relying too much on technology led to a meltdown in the financial markets across the globe.

[42:19] The Tech Boom – Kenny shares his thoughts on how the massive expansion of technology that took place in the 90s shaped the financial markets.

[48:36] The Evolution – How the stock markets and the technologies used for stock trading has evolved over the last few decades.

[54:06] Impact of 9/11 – Kenny reflects on how the September 11th attacks destroyed the infrastructure of the New York Stock Exchange and the process of recovering from that destruction.

[1:00:55] Modern Stock Trading – How the modern stock trading systems make use of the latest technology available in order to make stock trading more reliable and immune to threats.

 

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GMB Episode #128: Using Technology to Drive Business Value With Chris Hood

 

We live in the era of tech giants, where technology-driven businesses keep innovating and newly emerging technologies are becoming a key factor in driving business value. Our guest today, Chris Hood, is the Head of Business Innovation and Strategy at Google Cloud. Throughout the conversation, Chris discusses how he assists enterprises in driving economic value through the smart application of technology.

 

 

Show Notes

[01:38] Chris’s Background – Chris shares his background, as well as some of his daily duties at Google.

[04:48] Digital Strategy – Chris describes how the process of deploying technology changes based on the desired customer experience and explains how difficult this can be to navigate in larger organizations.

[15:20] Frequent Technologies – Chris cites specific types of technology that he sees commonly employed and explains how they assist organizations in generating commercial value.

[22:56] API – Chris expresses his thoughts on API monetization.

[27:41] AI and Machine Learning – Chris describes common applications of AI and machine learning.

[39:12] The Future – Chris shares his predictions for the future.

[47:09] Business Owners in Transition – Chris provides some important considerations for business owners in transition.

[54:58] Twitter Deal – Chris comments on Elon Musk’s $44 billion offer to acquire Twitter.

 

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A Plan for Managing Stock Sales: 10b5-1s and SEC Rules

Corporate insiders at publicly traded companies are privy to information that can have a major impact on the share price, such as a Federal Drug Administration (FDA) approval or rejection of a new drug. As a result, corporate trading policies restrict the number of days corporate insiders can buy or sell shares. Often, these policies limit the number of open trading windows to less than 60 days per year.

Overall, insider trading restrictions include blackout periods and exposure to material, non-public information (MNPI).

These trading constraints hamper corporate executives’ ability to manage their holdings, posing a stock concentration risk within their overall investment portfolios.

There is a solution to this problem: Rule 10b5-1

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GMB Episode #126: Pulling the Wisdom From Jeff Bezos’ Investor Letters With Steve Anderson

 

It’s an undeniable fact that Jeff Bezos did some exceptional work to develop Amazon into the e-commerce giant it is today. What if you could discover Amazon’s secrets and translate them into your business? Our guest today took on the task of analyzing every investor letter addressed by Jeff Bezos to Amazon shareholders dating back to 1997. Steve Anderson, Co-Founder & CEO at Catalyit™, and the author of the international bestseller, The Bezos Letters, joins us to dive into the 14 principles that created the Amazon that we know today.

 

 

Show Notes

[02:52] Summary of Letters – Steve starts the conversation with a synopsis of the letters, as well as what we can take away from them as we manage our own businesses.

[05:08] Beginning of Amazon – Steve explains Jeff Bezos’s background, how his childhood inspired him, and how he ended up launching Amazon.

[11:14] Becoming a Tech Giant – Steve dives into the growth of Amazon from its IPO in 1997 to current day.

[24:38] Four categories– Steve discusses the four categories mentioned in his book, and provides an excellent explanation of the 14 principles.

[31:44] High-Velocity Decisions – Steve explains how Jeff Bezos used a unique decision-making process to accelerate Amazon’s growth.

[45:56] Amazon’s Culture – Steve expresses his thoughts on Amazon’s culture.

[54:40] Steve’s Background – Steve shares his background, his career as an entrepreneur, and how he came to produce his phenomenal work.

 

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GMB Ep #124: Managing Burnout As An Entrepreneur With Bunny Young

 

As an entrepreneur, wearing too many hats can quickly lead to burnout. This week on Grow Money Business, we talk about how and why it is so important for entrepreneurs to monitor their mental health and wellbeing. Bunny Young, a business consultant, former therapist, and third-generation entrepreneur joins us today to discuss what burnout it, how to prevent it, and some valuable lessons she has learned along the way.

 

 

Show Notes

[02:40] Levels of Burnout – We start the conversation with different levels of burnout and how to cope.

[05:38] PTSD –Bunny shares some signs that suggest we might be experiencing post-traumatic stress disorder.

[10:17] Burnout & PTSD – Bunny compares the signs & symptoms of burnout against that of PTSD and shares how businesses can help their staff approach mental health in a positive way.

[14:00] Preventing Big Burnout – Bunny shares her thoughts on how we can prevent a small burnout from snowballing into a big burnout.

[18:00] Workweek Patterns – Bunny gives her thoughts on why our centuries-old 40-hour workweek is no longer efficient and how entrepreneurs can make it better.

[26:00] Making Good Decisions – Bunny shares her advice for making objective and logical decisions while experiencing burnout.

[31:28] Business Background – Bunny is a third-generation entrepreneur. We talk about the businesses her parents and grandparents developed.

[38:31] Bunny’s Journey – Bunny shares her own entrepreneurial journey, and some of the career pivots she made along the way.

[53:15] Consulting – Bunny talks about her consulting firm and how they help family-centric small business owners spend more time with their loved ones.

 

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