What's the most precious financial resource for your business? Most entrepreneurs and sales professionals would say their revenue or their cash flow. Without cash flow coming in, everything else becomes a mute point. Managing that cash flow can be a challenge in itself, because in most situations, it is all over the place and there is very little consistency. This is true for your business, and also for your personal life, and is one of the biggest reasons small businesses fail over time.
After working with hundreds of medical professionals across the country, there are common themes that I see over and over again. From navigating student loan repayment strategies to diversifying income streams to protecting everything you have today and everything you will have in the future, my clients have questions about how each of these decisions impacts their financial life. With all the financial noise out there, many times they hear conflicting advice and guidance.
When people come from different financial backgrounds with different financial experiences growing up, combining finances can seem like a daunting task. And then throw some big life events in there like buying a house, changing jobs, and starting a family, many people inevitably begin to accumulate this financial junk drawer (like the one in your kitchen) of decisions over time, yet they rarely sit down to review those as priorities change throughout life.
"Remember, what does 'retirement' mean? It doesn't mean that you're a couch potato. Leisure is not the same things as rest. If you're bicycling five miles a day, that's leisure, but it certainly takes a lot of effort."