It is more important than ever for everyone to always know the following four things:
- Your assets
- Your liabilities
- Your income
- Your expenses
Are you saving for retirement? Do you earn enough income to cover your current expenses? Are you living within your means? Are you adequately insured? How much savings and income will you need after you retire? Do you have an emergency fund?
Let’s face it, money DOES make the world go ’round. We all want financial stability and a huge bank balance, but often times there are unexpected expenses, health issues, and a myriad of other things that can deplete a savings account very quickly, and throw your life into financial chaos. What if you suddenly become unable to work? Do you have a plan B?
Planning for the future and giving your daily finances the proper attention can make all the difference. But this can be a daunting task. Many quickly feel overwhelmed with credit card offers, promotional “discounts”, and “no interest financing” deals. You get a new smart phone, and sign a 2 year contract, and then a hot new model comes out. Your friend turns you on to a “great investment” opportunity, your neighbor gets a nicer car than you have.
Technology has accelerated our lives to the point where many people simply cannot keep up, and they often amass huge debt, that they ultimately cannot repay. Your liabilities mount up, and perhaps your assets become depleted. You get laid off of your job. Your series does not get renewed. Your contract ends. You get a late notice in the mail. Your insurance lapses. Here is where a great Business Manager can help.
Your Business Manager will assist with bringing all your financial pieces and organize them all into one detailed financial statement. They will insure all your bills are paid timely, and accurately record all of your deposits and income as well. This service is particularly helpful and necessary for people with multiple sources of income, or multiple residences/rental property, etc. . A second set of eyes can help identify suspicious activity, eliminate duplication of services or work flow and most importantly, give you the peace of mind knowing that you are always aware of what is going on in YOUR financial life.
Ultimately this will SAVE money. Information is power, and financial organization is a key element. We all file tax returns, and we all have bills to pay. Business Managers work WITH your CPA, Investment Advisors and Wealth Managers, Attorneys and others on your team. They help you live within your means, save for retirement, or whatever your financial goals may be, and they do it efficiently, and accurately.
I’ve been a Business Manager in Los Angeles since 1988, and have assisted hundreds of clients predominantly in the Entertainment Industry, and high net worth clientele. The improvement of technology has allowed Business Managers and Accountants to bring these high end services to many more clients. We assist LGBT individuals and couples contemplating marriage, and help them navigate through uncharted tax situations and scenarios. Professional Athletes engage these services. Busy Executives, Attorneys, and Entrepreneurs find great value by outsourcing these services. Wealth Managers frequently refer their clients to Business Managers, and CPA’s. Your overall financial position is ultimately as strong as your financial “team”.
Invest in yourself; invest in your financial well being; live a happy life. I’d like to partner with you and help you get there, and put all the financial pieces together so you ALWAYS maintain a great financial balance, today, tomorrow, and every day. Please contact me directly to start on the path to building YOUR solid financial infrastructure. Your Business Manager is your financial quarterback and trusted advisor.