If you’re running a business, you’ve probably come across the term EBITDA. Understanding this metric can be incredibly useful, providing insights into your company’s operating performance and helping to shape your strategic decisions. EBITDA: What It Is and Why It Matters for Your Business EBITDA is an acronym that stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It zeros in on the earnings from your business’s core operations by leaving out expenses that can vary widely between different companies, such as tax rates and interest expenses. This gives you a cleaner me ..read more

Let’s deal with an uncomfortable question: What happens to your business when you die? The thought of death is unsettling – it’s the great unknown of this life. Because no one really wants to deal with their own mortality, too many people die subject to their state’s intestate laws. This leaves a difficult and messy process for your loved ones and business associates.   For business owners, the question of what happens to their business after their passing is not only a matter of personal concern but also of professional responsibility. As an owner, you have a fiduciary duty to your share ..read more

Bitcoin ETFs are officially available on US listed exchanges. This is a significant development in crypto trading. These ETFs providing greater access to the volatile yet potentially rewarding world of cryptocurrencies, particularly Bitcoin. As with any investment, careful consideration is crucial. Cryptocurrency is still is a tricky asset class for many investors when it comes to deciding if, when, and how much to invest. Let’s break down some key factors to keep in mind when deciding how much crypto exposure is right for your investment portfolio. 1. Understanding Risk Tolerance Cryptocurre ..read more

Signs of economic uncertainty are showing up in more places throughout the BIG economy, which impacts the LOCAL economy that you and I intersect every day. From home prices to mortgage rates, car prices to auto loan rates, inflation to wages, there’s evidence the economy is slowing down a little… or, at least taking a breather. As the federal government continues deficit spending without much caution for later consequence, inflation continues to be a primary factor in consumer costs and driver of fed monetary policy. What do you need to be doing as things become more uncertain? Listen as I sha ..read more

Investment minimums are an old-school way for advisors to filter out prospective clients. Advisory firms and their advisors set investment minimums as a way to target growth of assets under management (AUM) and revenue per client. In fact, advisors at conferences and networking meetings will often measure each other up by asking questions like, “what’s your AUM?” From a business management perspective, tracking and managing to KPIs makes complete sense. But, from a perspective of barriers to access, investment minimums lock a lot of really good people out of receiving qualify financial advice ..read more

Many business owners start their businesses because they see a need they can solve, they’re tired of being paid less than their true value, and they want to work for themselves rather than someone else. One day you wake up and your business is running. Revenue is coming in, costs are going out, and you’re busier than ever. Ask yourself: is your operations engine running as efficiently as it could? Are you willing to shed the number of hats you’re wearing in order for the business to reach the next level? Is your P&L healthy? Operations efficiency is the engine of your business. How well is ..read more

Do you need to get your business house in order? In this episode of The Financial Purpose Podcast, I talk with Paloma Goggins, Corporate and M&A Attorney and founder of Nocturnal Legal. Listen for our discussion what business owners need to know about forming business entities, creating and maintaining good operating agreements, and most importantly – how to prepare for an eventual smooth exit by beginning with the end in mind. Visit https://nocturnallegal.com/ to learn more about Paloma and Nocturnal Legal. Learn more about Dale L Shafer II, CFP® and Life Moves Wealth here. Disclosures ..read more

Have you ever wondered how to choose the right financial advisor? Whether you’re looking to work with a financial advisor for the first time, or you are looking to change advisors, the looming question in your mind might be: HOW DO I CHOOSE THE RIGHT FINANCIAL ADVISOR FOR ME? One thing I will admit is there’s no shortage of financial advisors in the world! In fact, when it was suggested to me by a friend of mine that I should consider being a financial advisor, my response was “hey man, thanks – but, the last thing the world needs is another financial advisor!” I’m glad I rescinded that statem ..read more

Stocks have recently been in a pullback period after what has been a great year so far. After a year like 2022 where both stock and bond markets had terrible returns and inflation peaked at 9.1% year-over-year, we all entered 2023 extremely cautious. If we’re being honest, most of us were a bit – or a lot a bit – bearish. But, we started to see positive stock market returns in early January and February, only to be pulled back in March to the tune of about 8%. If you remember, it felt like confirmation that we were headed for another down year. It felt like confirmation of the looming recessio ..read more

Today I want to talk about using Kaizen to become a 1%er. I’m not talking about those that fall in the higher earning bracket…. Although that may be a goal for some… And, I’m not talking about that particular motorcycle club either…. But what I am talking about is Kaizen. Kaizen, in practice, usually delivers small improvements that yields big results over time. It starts by simply improving by 1% at a time. I have found this to be an effective way to get to where you want to be financially, physically, relationally, emotionally, professionally… literally anywhere you want to see improvement ..read more