High quality financial advisor guides by Jill Podehl: To get interviews and stand out from the crowd, having the bare minimum of qualifications to practice as a financial advisor probably won’t be enough. When you’ve got the time and are in the rhythm of studying, try to rack up as many qualifications as you can. And, once you have them, never forget the importance of staying on top of changes, whether that be regulation, technology, or products available. The more you know, the better you can help your clients. Get chartered and/or certified level qualifications asap! “It demonstrates to clients the highest level of technical competence and will be what employers are looking for. From a practical point of view, it’s tempting to sit back once you’ve achieved a certain level. But once you’re in the ‘studying for exams’ zone just keep going and get the qualification—it’s much harder to get back into the exam mindset after a prolonged break from study.” Read extra information at Jill Podehl.
Just as your parents probably sent you off to kindergarten with high hopes of preparing you for success in a world that seemed eons away, you need to plan for your retirement well in advance. Because of the way compound interest works, the sooner you start saving, the less principal you’ll have to invest to end up with the amount you need to retire. Why start saving for your retirement in your 20s? Here’s an Investopedia example: You start investing in the market at $100 a month, averaging a positive return of 1% a month or 12% a year, compounded monthly over 40 years. Your friend, who is the same age, doesn’t begin investing until 30 years later and invests $1,000 a month for 10 years, also averaging 1% a month or 12% a year, compounded monthly. After 10 years, your friend will have saved up around $230,000. Your retirement account will be a bit over $1.17 million. Company-sponsored retirement plans are a particularly great choice, because you get to put in pretax dollars and companies will often match part of your contribution, which is like getting free money.
The growth of a business finance expert : Jill Podehl West Palm Beach, Florida: There’s no question that a bookkeeping service saves your business both time and money, but the processes and consistency introduced by one can increase the longevity and efficiency of your business, making you more profitable for decades to come. Hiring a bookkeeping service is about more than just finding someone who can use a calculator and understand QuickBooks. You want a full-fledged team that has the professional background, training and experience to really benefit your business. People whose expertise you can rely on. Ideally, you want to focus on those who have QuickBooks Pro Advisors certification, additional professional certifications in specific accounting software or and those that employ AIPB Certified bookkeepers.
If you are married or have a significant other, then you need to participate in your finances as a team. Discuss your budget and money goals and make financial decisions together. Understand where your money is going and how much money you have in savings and in investments. Having joint accounts is great, but I also believe in having your own personal savings accounts. As women, it’s important for us to build our own sense of security and have “our own” that we bring to the table. But don’t feel like you need to keep your personal accounts secret. Remember, marriage and committed relationships thrive on openness and honesty. Regardless of whether you team up with your partner or go it alone, the path to financial independence is not always a smooth, perfectly paved one. But don’t despair; it’s time to roll our sleeves up and get our hands dirty. That’s right—it’s time to learn how to create a solid financial plan. Read additional info on Jill Podehl.
When starting out, most small companies can get by with a simple bookkeeping service. As the business grows, however, you will quickly require a more sophisticated financial infrastructure that can evolve as you scale. For instance, a growing business should have: An accounting solution that meets your business requirements. A detailed and realistic financial model where you can visualize your monthly income, expenses and cash flow projections for the coming year. A key performance indicators dashboard. Basic internal controls, such as policies and procedures for accounts payable, accounts receivable and expense reimbursements. This will help you spot problems and deal with them before they spin out of control while providing your executive team with the insight it needs to make financially sound business decisions.
Jill Podehl West Palm Beach tricks on improving your firm financial situation: As a business owner, managing and organizing finances can be a great challenge. With all the things that need to be done, including your business’ day-to-day operations, it may be easier for you to slip into bad financial habits that can harm your company one day. For instance, when you have disorganized financials, your entire organization may be unable to create financial stability. So, if you want your business to thrive and become financially successful, below are five tips to help you organize your finances.