Financial Freedom Classroom

We accelerate your results!

financial freedom

3 Benefits of Holding a Property in an LLC

by

hand and houseHolding real estate in a limited liability corporation (LLC) could be a good option for your property investments.  There are some real benefits to this type of structure, both from a tax and legal perspectives.  Consider the following:

1.  Provides protection from personal liability to all members.

2.  Provides the tax benefits of a partnership.

3.  Provides charging order protection to help shield the assets of the LLC.

Please note, we are not tax professionals or attorneys so ALWAYS check with your trusted professionals for your specific situation.  In most cases, holding property in an LLC will provide good protection for your personal and investment property.

Please click like if you hold any property in an LLC.

Swimming with a shark

by

3-D Sucess, Lead by exampleOne of our favorite sharks from the Shark Tank TV Series is Daymond John.  Recently we had the opportunity to listen to him speak on a webinar titled “The Power of Branding”, but it was so much more.  Daymond spoke genuinely and honestly about his struggles and ultimately his rise to the mogul he is today.   It was very inspiring!

We would encourage anyone to take the time to seek out successful business people like Daymond to follow.  Even though they might not necessarily be able to personally interact, they can certainly have an impact on your life and business.

Through books, articles, websites and social media it is now easier than it has ever been to have access to successful people in  your industry.  We challenge you to seek out some of the people you would most like to follow and do just that.  You never know some day someone might be looking to follow you!

Please write in the comment section who you would suggest people follow.

Learn to trade simply from an innovator!

by

Golden Bull and Bear - Simply Awesome!Why has the Super Simple Spreads course been a best selling program?  Join us this Thursday, June 4th at 7:30pm to find out!  John Locke will be discussing his course that any one with basic options experience can follow because it is simple!
Here is what some of his students are saying about the program:
John is an innovator who has helped my trading immensely.  I have found his methods and philosophies about trading to be life-changing.
Since working with him, for the first time in my life, after years of trying, I have become a profitable trader. -Troy
His strategies work because he has such a good innate feel for the multi-dimensional interplay of price, volatility, and the Greeks.  John has the ability to take something very complex and make it accessible to the less experienced trader.  John also works extensively with the all-important “soft factors” of psychology, emotions, and discipline. -Phil
Mark your calendar to get this important information which can help lead you to financial freedom!
Click like if you will be joining us for the FREE webinar.

Financial Freedom Case Study Webinar

by

Check out a replay of a financial freedom case study of the Spendalot family.  We hope their story will inspire others to begin the journey to financial freedom.  To help we are offering a  FREE analysis of your your financial situation.  There is no cost or obligation and of course your information is kept confidential and secure.  Simply submit your worksheets, we will carefully review them, then schedule a FREE follow up call to discuss how to accelerate your financial freedom journey.

Please click this link to get copies of the case study spread sheet for a closer look.

Are you ready to be financially free?  What phase are you on?  Please comment below.

Do you chose to accept your mission?

by

Mission Definition Button Shows Task Goal Or Assignment To Be Done

Your business exists for a reason.  What is it?  How can anyone in your company meet expectations if they are not written down and shared?

Create a mission statement.  It is really needed so everyone understands the reason why your business exists.  The statement needs to be well thought out, concise, and specific.  Take your time with it and get every word just right.

A well constructed sentence or two is all that is needed to create your vision.  Some questions to consider during construction are:  Why do you do what you do?  What problems does your company solve?  Who works for your company?  How can your business make customer’s lives better?

There are many other questions to help narrow down this very important statement.  Please share more questions in the comment section below.

Growth does not happen overnight

by

Image courtesy of Feelart at freedigitalphotos.net
Image courtesy of Feelart at freedigitalphotos.net

Many clients ask, “When should I start investing?”  The answer is “Immediately”!  Investing in the stock market is a marathon not a sprint.  The earlier you invest the more you will have when you need it.

It is difficult for teens to consider investing in the stock market but investing early can produce HUGE dividends.  If an 18 year old were to invest $5,000 in a mutual fund that earns an average of 8% annually and invests $100 monthly they will accumulate $1,255,081 on their 70th birthday.  Pretty great birthday present, wouldn’t you say?

If you decide to take your birthday present just 10 years earlier, you will be giving up a lot!  If you stop investing when you are 60 years old and you end up with a mere $557,146.  So when should you start investing?

Grab an investment calculator and run the numbers.  We challenge you to speak with your children about investing and how they can incorporate it into their life.  Please comment below about your experience.

Always watch your nets

by

FInancial dataSpend less than you earn, is the golden rule for phase one in our financial freedom plan.  In the financial case study webinar last week we were able to show how the Spendalot family went from a negative monthly net  to a positive net that can accelerate them right out of debt.  With determination, focus, discipline and hard work it can happen relatively quickly.

Two of the tools we used in the case study were a Net Worth Worksheet and a Monthly Spending Plan Worksheet.  We have uploaded those worksheets under our Resources; Money Management page on our website.  Click here to get a copy for your use.  If you have any questions regarding these worksheets please submit your questions to questions@financialfreedomclassroom.com.

SPECIAL OFFER!  For the next 30 days we are offering a FREE analysis of your completed worksheets.  There is no cost or obligation and of course your information is kept confidential and secure.  Simply submit your worksheets, we will carefully review them, then schedule a follow up call to discuss how to accelerate your financial freedom journey.

Three qualities of great employees

by

Man guesturing to call
Image courtesy of stockimages at freedigitalphotos.net

Looking to up your game?  Want to make your boss love you?  If you possess or can incorporate these qualities into your job you can become the “go to” person in your office.

1.  Take copious notes and keep track of them – When you have been given a task be sure to take notes as to what is expected.  Then be sure to diligently track the progress and report on it.

2.  Over communicate – Be sure to explain fully and keep everyone in the loop.  Articulate a plan with specific steps and instructions so that anyone reading it could understand it.  Follow up regularly to anyone that has a piece of that process to keep things moving along.

3.  Double check – Before you submit an email, report or entry double check it.  Carefully check for understandability and yes, spelling.  If people see lots of spelling mistakes they will believe you are not detail oriented.  Details matter!

These three qualities can propel an average employee into a great employee.  Give it a try.  It might even lessen the stress of the job by being better organized and prepared.

What other essential qualities of a great employees can you share in the comments?

Does it really need to be replaced?

by

Yummy bread baking in an oven
Image courtesy of stockimages at freedigitalphotos.ne

If you own rental property, you’ll want to make smart financial decisions regarding your properties.  One decision that you have some control over is whether to repair or replace items that are no longer working.  Just because an item is broken doesn’t necessarily mean it should be replaced.

Do a little bit of investigation, first.  A search on the internet can usually tell you if others are having the same problem and provide potential solutions.  Sometimes a recall has been issued and you can get the item repaired for free.  Either way you will probably find useful information on an internet search.  There may even be a quick fix for it.

Is the appliance still under warranty?  I know that you are a diligent property owner and have retained your receipts to make that determination.  If so, look to have the repair covered under warranty.

If none of these yield results,  having someone on your team who can quickly determine the best course of action is essential.  Of course if that appliance is really old and decrepit lay it to rest and buy a new one.  You certainly don’t want to keep investing money in something that is near the end of its life.

We personally have learned that residents can get attached to their current appliances and many times would rather fix what they have than have it replaced.  How about just replacing the burnt out heating element for $15 in the dish washer instead of buying a new one?  Or checking why the freezer isn’t making ice, it could simply be a filter that needs replacing.

Be sure to carefully check out what is really causing the trouble and make smart decisions!

Please write in the comments section about an interesting repair or replace story.