When Should a Business Owner Seek Advice from a Financial Planner?

Running a business is not just about providing exceptional services—it’s also about managing finances, optimizing tax strategies, and securing long-term financial stability. Many business owners focus on their craft but may not realize the importance of working with a financial planner until financial challenges arise.

Whether you’re launching a new venture, navigating cash flow fluctuations, or planning for retirement, here are the key moments when seeking advice from a financial planner can help you build a profitable and sustainable future.

1. When You’re Starting a Business

Launching a business requires a significant financial investment, from securing a location and purchasing equipment to hiring staff and marketing your services. A financial planner can help you:

  • Create a realistic budget for startup expenses.
  • Develop a business plan that aligns with your financial goals.
  • Secure financing through loans, investors, or personal savings.
  • Determine the best business structure (LLC, S-Corp, or sole proprietorship) for tax and liability purposes.

A well-planned financial strategy from the start can help prevent costly mistakes and ensure long-term success.

2. When You’re Experiencing Cash Flow Challenges

Many business owners face seasonal revenue fluctuations, unexpected expenses, or cash flow gaps. A financial planner can:

  • Analyze revenue trends and identify strategies to stabilize cash flow.
  • Help implement membership programs, pre-paid service packages, or strategic pricing adjustments.
  • Develop a savings plan to prepare for slower months or emergencies.

If you’re struggling to cover rent, payroll, or supply costs, it’s time to reassess your financial strategy with professional guidance.

3. When You’re Expanding or Hiring More Staff

Growth is exciting, but it comes with financial risks. Whether you’re adding new locations, hiring additional staff, or launching new services, a financial planner can:

  • Conduct a financial feasibility analysis to determine if expansion is viable.
  • Assist with securing additional funding or reinvesting business profits wisely.
  • Structure employee compensation (salary, commission, or independent contractor agreements) to maximize profitability.
  • Ensure compliance with labor laws, payroll taxes, and employee benefits.

Expanding too quickly or without a sound financial strategy can lead to long-term financial strain.

4. When Tax Time Becomes Overwhelming

Business owners often struggle with tax planning, which can lead to overpaying taxes or facing unexpected liabilities. A financial planner can:

  • Identify tax deductions specific to your industry, including equipment, supplies, and professional development.
  • Work with your accountant to optimize your tax strategy throughout the year.
  • Advise on reinvesting profits versus distributing them as income.
  • Ensure compliance with sales tax, payroll taxes, and self-employment taxes.

A proactive tax strategy can reduce financial stress and help you keep more of your hard-earned money.

5. When You Want to Save for Retirement

As a business owner, your business is your primary income source, but have you planned for your future? A financial planner can:

  • Help you set up a retirement plan such as a SEP IRA, 401(k), or other tax-advantaged savings options.
  • Develop a long-term investment strategy to grow your personal wealth.
  • Ensure financial independence even if you decide to step away from the business.

Your business should support your future, not just your present.

6. When You’re Considering Selling or Exiting the Business

If you’re thinking about selling your business, transitioning to a new venture, or retiring, financial planning is essential. A financial planner can:

  • Value your business to ensure you get the best sale price.
  • Structure the sale to minimize tax implications.
  • Create an exit strategy that aligns with your financial goals.
  • Assist with business succession planning if passing ownership to a family member or business partner.

Having a well-planned exit strategy ensures you fully benefit from the years of hard work you put into your business.

7. When You Want to Build Personal Wealth

Your business is a significant part of your financial picture, but it shouldn’t be your only source of wealth. A financial planner can help you:

  • Diversify investments beyond your business.
  • Explore real estate or other asset-building opportunities.
  • Develop a strategy to ensure long-term financial security for you and your family.

Growing your personal wealth alongside your business helps you achieve financial freedom.

A financial planner is not just for large corporations or the ultra-wealthy—they are a valuable resource for business owners who want to maximize profitability, minimize taxes, and plan for the future.

Ready to take control of your financial future? Life By Design Investment Advisory Services has experience working with business owners across industries, helping align their passions with financial goals. With the right guidance, you can make informed financial decisions to support your long-term success.

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Life By Design Investment Advisory Services is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein.

 

Planning for the Future When the Future Is Unknown: Embracing Goal Fluidity

In an ever-changing world, planning for the future can feel like trying to chart a course through uncharted waters. Life is unpredictable, and the goals we set today may shift as new opportunities or challenges arise. At Life By Design Investment Advisory Services, we understand that flexibility is key to a successful financial plan. Planning for the future requires not only foresight but also adaptability, especially when life doesn’t go according to plan. This is where the concept of “goal fluidity” comes in—being open to change while staying aligned with your long- term vision.

Here are some strategies to help you plan for an uncertain future while maintaining the flexibility to adapt as your goals evolve:

Set Long-Term Objectives, But Embrace Flexibility

It’s important to set clear long-term goals, such as retirement or funding a child’s education, to give yourself direction. However, those goals aren’t set in stone. Life is unpredictable, and sometimes our priorities or circumstances change. The key is to think of these objectives as guideposts rather than rigid destinations.

At LBDIAS, we pride ourselves on getting to know our clients deeply—their stories, families, and dreams. This personalized connection allows us to craft financial plans that are flexible enough to adjust to life’s changes. Whether it’s a career change, a new family dynamic, or even a sudden health concern, our approach ensures your financial plan can evolve to accommodate these shifts.

For instance, imagine a client whose original goal was to retire at 60. However, after the birth of a grandchild, they decide they want to help with college tuition and delay retirement to assist financially. This is a perfect example of how we work with clients to adjust their financial plans in light of life’s changing priorities.

Prepare for the Unexpected

While the future is uncertain, you can plan for potential surprises by building a financial safety net. Having an emergency fund, appropriate insurance, and a well-considered estate plan can help you stay on course when life throws unexpected challenges your way. Planning for these contingencies allows you to adapt your goals without jeopardizing your overall financial security.

Consider the case of a business owner who had planned to sell their business as part of their retirement strategy. Unexpectedly, a downturn in the industry delayed the sale, impacting their retirement timeline. However, because they had an emergency fund and other investments, they were able to cover living expenses without dipping into their retirement accounts prematurely. Having this flexibility enabled them to navigate the downturn with less stress and maintain their long-term goals.

At LBDIAS, we help clients prepare for such unexpected events by evaluating their risk tolerance and ensuring that they have a diversified financial plan that can withstand surprises.

Practice Goal Fluidity

Life is not static, and neither should your financial goals be. Goal fluidity refers to the ability to adjust your goals in response to changes in your life. Rather than viewing your financial goals as fixed, it’s essential to understand that they can evolve as your priorities shift. Flexibility is crucial for adjusting to life’s unexpected developments while staying focused on the bigger picture.

For example, a client may initially prioritize buying a second home for retirement but later decide to shift that focus toward supporting a family member with medical expenses. In this case, goal fluidity allows them to adapt their financial plan to the new reality without feeling like they’ve abandoned their overall objectives. Instead of being locked into one path, they can pivot based on new information or life changes while still working toward financial stability.

At LBDIAS, we understand the importance of adjusting financial strategies as life changes. We regularly check in with clients to ensure their financial plans reflect their current needs and aspirations.

Focus on What You Can Control

While you can’t control everything in life, focusing on the things you can control can help you feel more confident in your financial decisions. Markets fluctuate, and life circumstances can change unexpectedly, but you can control your savings rate, investment strategy, and how you respond to market conditions.

During times of market volatility, for example, emotional reactions can lead to rash decisions, such as panic- selling investments. At LBDIAS, we help clients remain focused on the long-term plan and avoid making impulsive decisions. By maintaining a disciplined approach to investing, you can stay on track even when external factors seem overwhelming.

How Flexibility Helps in Uncertain Times

Case Study 1: Medical Emergency in Retirement One of our clients had been comfortably retired for several years when an unexpected health crisis arose. The need for extended medical care meant that their planned retirement expenses were suddenly much higher than anticipated. Fortunately, we had built flexibility into their plan by allocating funds for potential long-term care. This cushion allowed them to manage the higher expenses without dipping into their core retirement investments.

Case Study 2: Career Change and Late Retirement Another client had planned to retire early, but a sudden passion for a second career changed their trajectory. They decided to delay retirement by 10 years to pursue a new business venture. By revisiting and adjusting their financial plan, we helped them shift focus from immediate retirement to reinvesting in their new business while still preparing for long-term financial security.

Case Study 3: Supporting Family During Unemployment A client nearing retirement had a family member who unexpectedly lost their job. The client wanted to step in to provide financial support for the family member, which shifted the focus of their financial plan. We worked with them to reallocate resources, ensuring they could offer support without jeopardizing their own retirement goals.

Adapt with Professional Guidance

Working with a trusted financial advisor is essential when navigating an unknown future. At LBDIAS, Monique Marshall personally works with each client to ensure their financial plan is adaptable and aligned with their evolving goals. With over 30 years of experience, Monique offers not only expert investment guidance but also personalized support in adjusting financial plans to life’s changing circumstances.

We understand that as your life changes, your goals might need to shift as well. Whether you’re facing a life event, a career change, or a market shift, we’ll help you adapt your financial plan while keeping your long-term objectives in mind.

Planning for a Life by Design, Not by Default

At LBDIAS, our philosophy is that financial planning should be dynamic and responsive to life’s inevitable changes. By embracing goal fluidity and preparing for the unexpected, you can confidently plan for the future —even when it’s uncertain. Life is full of surprises, but with a flexible financial plan and the right guidance, you can adapt and thrive no matter what comes your way.

If you’re ready to create a financial plan that’s tailored to your life and capable of adapting to change, contact Monique Marshall today. Together, we’ll design a strategy that ensures your financial future remains secure, no matter where life takes you.

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Life By Design Investment Advisory Services is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein.

 

Investing in Your Goals

If there is anything worth investing in, it is that which is most important and most sought-after by you.

KNOWING YOUR LIFE GOALS

The first essential pass to being able to invest in your goals is knowing what your life goals are. What do you aspire to do, be or give? What are the driving forces behind your aspirations; the passions and purpose that fuel them? Are these aspirations thoroughly your own? How often do you reassess your goals to confirm that they still support your long-term plans both before and after retirement? It’s important to take the time to  respond to these questions and throughout the process of realizing your goals.

FINANCIAL PLANNING TO SUPPORT YOUR GOALS

Your financial plan’s main purpose is to support you (financially) in living your Life By Design even after you’ve retired. Creating a well considered financial plan can make the difference in efforts you make toward reaching and enjoying your end goal. A financial plan can aid in the relief of stress and worries related to the financial markets and market events. Providing a clear vision of the long-term future, allowing you to enjoy the important things in life. Life By Design Investment Advisory Services believes in a holistic approach to Retirement Management. We execute this through a well-thought out long-term financial plan based on your risk capacity and Household Balance Sheet that focuses on Retirement Portfolio Allocations that account for growth, income, reserves and longevity. 

INVESTING WITH PURPOSE

Socially Responsible Investing is the practice of investing in companies and funds that have positive social and environmental impacts. SRI can provide you with the opportunity to invest in your goals on grander scale. In this way, your personal actions are driven by your aspirations, and the actions of companies (and in turn the people connected with them) with whom you “partner” with financially are also. The choice to take part in social investment can impact your goals and the goals of others both in the present and future. The idea of not just investing in your own goals (micro-level), but investing in common goals (macro-level) can stretch your impact. Have you considered making the choice to be consciously aware of the impact your investment choices can have beyond your personal portfolio?

BEYOND YOUR GOALS

Creating a Legacy Plan can help ensure that your goals are carried on through the next generation, carrying on your passions and purpose for an everlasting impact. New branches of your family tree and leaves that have not yet grown can be greatly impacted by you choosing to invest in your goals today. Legacy & Estate Planning can provide you with more time to carry through on your intentions through future generations.

RETIREMENT LIFE BY DESIGN

A Retirement Life By Design is for many one of the biggest goals whether or not we have actually stated it to be. You will be hard-pressed to find someone who doesn’t want to enjoy their retirement doing things they love and continuing to realize life goals without the shadow of financial concern surrounding them. Once you’ve identified your life goals and committed yourself to pursuing them to the best of your ability, you will want to think in the longest terms possible when planning.

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Life By Design Investment Advisory Services is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein.

 

The Best Morning Routine (According to 4 Entrepreneurs)

If you’re looking for fresh and revitalizing ways to start your day, look no further. Having a steady morning routine in place will help you be productive and make the most of your entire day. Break your unproductive morning habits and trade them in for some of the best morning routines as told by four successful entrepreneurs.

MEDITATE

Carving out designated time to clear your mind and center yourself is a great way to start your day to ensure it’s a successful one. Nadia Boujarwah, CEO of the clothing subscription service Dia & Co., gets up and meditates every morning. It may seem like a simple step, but it’s a big one that many successful entrepreneurs integrate into their morning routines.

EXERCISE

Starting your day off with some form of exercise is a great way to wake up and get your day started off right. Virgin Group founder Richard Branson wakes up and starts every day with some form of exercise like tennis or cycling. Branson writes in his blog, “Exercise puts me in a great mind frame to get down to business, and also helps me to get the rest I need each night. There’s nothing more satisfying than knowing I have applied myself both physically and mentally every day.” Set your alarm early enough to fit in at least 30 minutes of exercise to jumpstart your days, get your blood flowing and fuel your body to be successful.

SET GOALS

What are your intentions for the day? Do you have specific tasks that you must get done? Sit down and write a to-do list that lays out what your goals are for the day. Not only will this help you stay organized, but the simple act of physically writing down what you have to get done for the day will help you remember to do it. Mandeep Shahi, cofounder and managing partner of ZENMED, an award-winning health and wellness brand, recommends writing down your 3 daily top tasks before you pour your morning coffee or tea.

MAKE YOUR BED

New York Times bestselling author Tim Ferriss of The 4-Hour Work Week has said making the bed is a morning priority for him in order to help prepare his mind for the day and get focused. In the event that nothing goes right for you during the day, at least your bed will be nicely made when you return home to hit the hay.

Getting your day started off on the right foot is the key to having a successful day. If you start your day with a set routine, you will find that it’s easier to tackle your day head-on and be the best version of yourself. Remember, it’s important to formulate a morning routine that works best for you, your lifestyle, schedule and family!

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Life By Design Investment Advisory Services is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein.

 

8 Ways Highly Successful People Set And Achieve Goals

When you see successful people who have done well for themselves and achieved a great deal, you may wonder just exactly how they did it. Here are eight tips we can glean from some of the world’s most successful people.

1. VISUALIZE YOUR LIFE BY DESIGN

Setting goals can be abstract, and as humans, the more something is abstract, the harder it is for us to focus on it. Instead of writing down goals like “retire at 50”, try and visualize exactly what you want your future to hold, and plan it out in as much micro detail as possible. So “retire at 50” might be “Build a successful engineering firm. Retire at 50, but still sit on the board. Pay off your home in New York and have second vacation home in Florida. Be able to fund all children’s college accounts in full”, etc. Write your goals SMART (Specific, Motivating, Achievable, Relevant, Time stated).

Once you can really visualize the specifics of your ideal future, that’s when you will gain the clarity you need. The goal-setting process becomes the framework for creating the kind of bigger future you are looking to achieve.

2. WORK BACKWARDS FROM YOUR END GOAL

Once you lay out exactly what you want to achieve becomes simpler to identify the micro steps that need to occur in order to realize your end goal. Try setting weekly goals or monthly goals and consistently reviewing them as you move forward. Clearly outlining goals as a first step will automatically make them much more realistic. It’s a good idea to have a mix of goals such as financial, strategic, relationship and personal goals.

3. HOLD YOURSELF ACCOUNTABLE

Staying accountable to yourself is incredibly important and incredibly difficult. Working with a coach, or an accountability partner can provide a real incentive to continue on your path and work hard to achieve the outcome you desire. Additionally, consider surrounding yourself with others who will lift you up and share with them what you hope to do. This will help you push yourself and come up with new ideas since you’ll be surrounded by people that you respect. Accountability becomes easier with a system in place, writing down goals and checking in on them regularly is a good way to begin.

4. SET CLEAR DEADLINES

Make sure that you set clear measurements with realistic deadlines when setting your goals. When the goal is realistic, you will feel more properly and emotionally invested in the outcome. It should feel challenging yet also achievable.

5. WRITE DOWN YOUR GOALS

Studies show that we become 42% more likely to achieve our goals and dreams, simply by writing them down on a regular basis.1 There is more of a personal commitment when you put pen to paper and physically write your goals down in a focused space. When a goal is embedded in your mind, subconsciously you are looking at every opportunity to achieve that goal. Also, if something is written down, then you can look back for motivation when you need it. As mentioned previously, holding yourself accountable is so important, and writing something down is another way to do that.

6. BREAK YOUR GOALS DOWN

Every successful person knows that you must break your goals down into action items. Setting a big goal helps you to picture the end result, but small goals are easier to work toward. Think of your goals a “pyramid” – your main, over-arching goal is at the top, but in order to reach it, there are a series of smaller goals you must first work achieve.

Breaking your goals down into smaller, actionable items not only feels more “doable” from a psychological standpoint, but there is something to be said about checking those smaller goals off you list – you’ll feel empowered every time you hit another milestone, and your success will propel you to keep going.

7. OWN YOUR FUTURE

As the saying goes “A dream without a plan is just a wish”. If you’re not in charge of where you spend your time and energy it’s easy to become distracted. Keep in mind that you are personally responsible for your future and only you can change and work towards a better outcome. It’s important to work in the present but still have a strong plan for the future.

8. USE YOUR GOALS IN EVERY ASPECT OF YOUR LIFE

Goal setting is obviously pertinent to your business, however, it’s important that you set goals in every aspect of your life, not just in your business. What is the motivation or desire for why you set your goals? Think about:

  • Why are These Goals Important?
  • How Will you Achieve Them?
  • How Will They Make a Difference?

Once you know the answer to these questions, it will really help you to strive for a stronger future and understand what you need to change to achieve your dreams.

When we get busy with work and everyday life, we often put our big dreams and goals on the back burner. Many times that free time doesn’t often come, so it’s important to find the time to work towards and achieve your dreams. These eight steps can help you to visualize and work towards achieving what you really want, as they have helped highly successful people for many years.

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Life By Design Investment Advisory Services is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein.

 

To Do: 4 Things for Your Financial Future

Everything starts somewhere. We are captivated by “end results” and “progress”, but rarely remember that before both of these there was a starting point. Your financial goals are no different. Regardless of your goals, it’s always better to know what is going on with your money and to actively protect what you have. Here are four things that you can do today for your financial future…

  1. Save something. A dollar, twenty, more- it all makes a difference. Try saying no to something today… it may help you be able to say yes to something you really want later. Or get use to saving with no plans of spending and enjoy the peace of mind that comes with a financial cushion.
  2. Do something to secure your income. Where does your money come from? If you’re working, keep demonstrating why you’re the best for the job. Retired? Review your investments and their soundness. Your income is vital to your financial livelihood!
  3. Cancel a service you don’t use or need. We all have one (or more). Dig deep and review your finances to see what you’re automatically spending on. Often you can find a subscription that you don’t truly utilize or need. Even if you don’t discover a place to trim the fat, you’ve reviewed your finances and that’s never a bad thing.
  4. Take stock of what you have. Buying another white shirt when you have one forgotten in the back of your closet? Buying more paprika because you can’t remember if you have some in the pantry? Try using what you have and keep track of the money you aren’t spending on duplicates.

Need some more motivation? Life By Design Investment Advisory Services help you identify your goals that truly motivate you and start financial planning for the life you’ve designed.

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Life By Design Investment Advisory Services is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein.

 

Invest in Your True Worth

Value & How You Spend Your Money

Seemingly everything comes with a price tag, but we want to challenge the prices you see on the tags and ask you… 

What’s it worth?

What is it worth to you and your life, really? Beyond the price tag something carries, there is the value which it brings to your life. We at Life By Design Investment Advisory Services believe that this value determines the true worth of what you’re spending your money on. Why not invest in your real life desires?

Here’s an example… If a wedding is something you’ve always dreamt of and you wouldn’t be happier spending the money on a new car or vacation, this can be a good indicator of value. However, if you look at a wedding and think, “If I could spend all this money on my passion for golf or a dream honeymoon instead of a wedding… I’d do it in a second.”… Then you probably need to rethink that huge wedding you’re planning and spending on!

Align the dollars you spend with the true north of what brings you joy. Think of it as investing in what matters most- yourself and family. If living on a boat is a life long dream, then what are you waiting for? Are you taking steps to make that dream a reality? Are you spending in a way that supports you and your dream?

Just because certain big tickets items come with a “set” price tag doesn’t mean that number is final. Consider setting your own price tags prior to shopping what’s out there. You’ll have a more satisfying experience and be less susceptible to buyer’s remorse. If cars are your passion, then that’s where you should place more value. But if you really are more of the type who dreams of yoga retreats on a relatively frequent basis… Why place the value on a car?

Are pressures of the world suggesting you buy the ‘organised sports’ minivan versus that Jeep you envision having and taking the kids to explore Zion National Park? Don’t let the desires of others keep you from your own! It’s time we started asking ourselves “What’s it worth to me?” instead of happily accepting the value and importance society has placed on something at face value.

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Life By Design Investment Advisory Services is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein.

 

Unwrap a Holiday with Less Financial Stress

The stores are decorated, the lights are strung, and the holiday events have started. Even though everything is shiny and cozy, it’s hard to ignore that tiny feeling that the holidays seem to feel more expensive each year. But you’re not alone; holidays are a financially stressful time for many. Holiday sales rose 3.8% year over year to $964.4 billion, according to the National Retail Federation and this trend is expected to continue.

By making a few small changes to your holiday spending habits, you may be able to enjoy the last few weeks of the year with less financial stress.

Make a Budget and Check it Twice

If you love giving gifts, there’s nothing better than making a list of everything you want to give your loved ones. But as more and more fantastic ideas pile up, so do the expenses. Before you start shopping, consider setting a holiday budget of how much, in total, you want to spend on gifts. Remember that it often doesn’t matter how expensive the gift is, but the effort behind it.

Handmade Holiday Hero

Speaking of effort, if a loved one always compliments your handiwork, they might love a gift that didn’t come off the shelf. If you woodwork, knit, paint, bake, or even if you’re really good at crafts, don’t shy away from using your talents on presents. You get to work on your skills, and the giftee gets something from the heart. Just be mindful of the cost of supplies.

Cut Back on Expectations that Don’t Bring Joy

So many holiday traditions come from the socio-cultural norms ingrained in us growing up. Cut back if a tradition isn’t meaningful to you or your family. For example, if you hate sending holiday cards with the latest professional photo of your family and an oh-so-sweet letter with all the high points of the year, then don’t. Send a thoughtful email and save the cost of the photographer and postage.

Now’s a good season to evaluate the cost of your holiday traditions. If the cost of your end-of-year rituals is causing extra strain, consider changing them up for lower-cost alternatives like decorating cookies or a holiday movie night.

Save with Secret Santa

If you have a large extended family, see if you can get everyone on board with Secret Santa. That way each person only needs to buy a gift for one other person. This ensures that everyone receives a personal gift, but also means no one is scrambling to find something for every family member.

Procrastination Doesn’t Pay

Last-minute gifts are cards can be pricey, especially if first-class expedited shipping is needed to get them on time. Start shopping as early as possible, and prioritize relatives across the country (or world) first.

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Life By Design Investment Advisory Services is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein.

 

Conquering Your Goals

After you’ve tackled the project of landing on a SMART stated goal that fits you, your life and aspirations, the real work begins. Conquering your goals doesn’t need to be overwhelming though and those really big goals don’t have to be intimidating… It’s as easy as 1, 2, 3…

COURAGE

It takes a considerable amount of courage to say it’s time for you to tackle your goals. Having the courage to say you’re ready and initating action is the first step to conquering your goals. You need courage to acknowledge that you are capable, that the time is right and that you are ready to make room in your life for success. When starting the path to accomplishing a goal you need to have courage because you cannot know where the path will take you. Many of us fear the failure and setbacks that are often found on the road to success, having the courage to start trying regardless of the outcome is half the battle- the rest is hard work.

CHALLENGE

Once you have the courage to conquer your goals, you need to challenge yourself to pursue them. The challenge is modifying your daily schedule to make room for your goals and pushing yourself to depart from what you once knew. You need to challenge yourself to take acttion on the micro steps you’ve laid out for yourself on the path to your goal and accept that you’ll face challenges along the way in the form of everyday life events and limited time in your schedule. Challenge yourself to make the room and stay consistent in your efforts.

CHANGE

The third C to conquering your goals is change… specifically accepting and embracing change in your life as you get closer to your goals. Change can be uncomfortable and at times as outside distractions push their way in it can be easier to revert to previous habits. You need to embrace change to conquer your goals. Sticking to the changes you’ve made is easier with a support group or a person who can hold you accountable to the new standards you’ve set for yourself.

Have the courage to challenge yourself to change!

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Life By Design Investment Advisory Services is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein.

 

Being Mindful with Money

Our helpful mindful money checklist is a great reminder that a little mindfulness can go a long way.

 

  •  Take stock of where your money may be leaking Specifically monthly expenses you have set to automatic payment. Review your phone, cable and internet plans to see what you are actually using. Are you using all your music, storage, gym and/or movie services? The latest bundling packages can swindle you into unlimited, data, or channel plans you don’t actually use or that change in price after a promotional period. Average new year savings found is $100 per month SAVINGS of $1200 per year

 

  •  Schedule a weekly review of your finances Take time each week for a financial date with yourself (or with your partner) to check in on payment deadlines, upcoming expenses and a review of recent spending. Taking a weekly approach removes the sense of an overwhelming task as it’s something you address regularly (i.e. no surprises, less stress) SAVINGS on interest, late payments, etc.

 

  •  Set long-term goals Let your aspirations in life guide your finances and your approach towards money. Consider where you’d like to be in five years (new home, cars paid off, etc.) and let that be a driving force behind how you spend your money and where you dedicate your time. Take the $6 morning latte for example, would preparing your coffee at home a few days a week instead of buying launch you toward your long-term financial goals? Saving $25 a week if you stop just 3 or 4 visits SAVINGS of $1200 a year

 

  •  Meet with Your Homeowners & Auto Insurance Agency to Review your Policies I often times see clients not reviewing this on average for 5 years, then we discover the policies can be shopped around with strong competitors and with bundling an average savings of $50 dollars a month (plus many times an increase in coverage!) can be found SAVINGS of $600 per year

 

  •  TollRoad Avoidance Yes, this is convenient in our OC, however considering a new route and little more time allocated, in many cases leads to a $50 per month reduction and that stacks up to another SAVINGS of $600 per year

 

  •  Be patient, but know when to walk away When it comes to your money be mindful of the fact that radical changes typically don’t happen overnight. Investments often take time to yield the profits you hope for and changing the state of your debt requires endurance. That being said, take note of whether you are invested in something that’s losing you money or no longer has the same value to you that it once did. Learn when to call it quits and consider talking exit strategies or big changes with your financial advisor. SAVINGS should be of value to your Life By Design

 

  •  Remember to account for inevitable expenses Car maintenance and broken appliances are rarely planned events, but some events are foreseeable based on age, like retirement or changing health. Other inevitable expenses to keep in mind as you spend? Money spent on prescriptions, contact lenses, membership fees, classes, etc. Many of these items may not be on auto-pay, but you’d do well to keep them in mind as fixed expenses. SAVINGS not depleted by the occasional additional expense

 

TOTAL SAVINGS: $3600+/year

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Life By Design Investment Advisory Services is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein.