Last year Americans spent $469B on holiday spending. We spent $6B on Christmas decorations. Tis the season to be jolly, but try not to get carried away. I know. Bah humbug.
What every business owner should know about their monthly fixed costs
Every month business owners routinely spend thousands of
dollars paying their fixed costs e.g. rent payments, salaries, equipment lease
payments, insurance premiums, etc. and never consider the opportunity cost of
those dollars spent.Meaning, there is tremendous
value in those fixed cost cash flows that could be used to expand the business,
provide a self-financed line of credit, build a predictable retirement savings,
and finance a buy-sell agreement and/or a key person insurance policy.
How can a business owner exploit value in his fixed cost
cash flows in order to generate a line of credit without using a bank?By understanding his state’s usury laws,
rules regarding commercial loans, and the arm’s length principle within
contract law, a business owner can create hisown line of credit and build a
predictable retirement savings using money already being spent on monthly fixed
Since 2007, lending regulations have made it difficult for
small businesses to obtain loans from credit unions and banks.A recent report by the Biz2Credit Small Business Lending Index
showed an increase of 4.3% from July to August in loan applications. Unfortunately,
approvals by both big banks and credit unions decreased during the same period.
If you are a business owner with a recurring
need for credit, tired of hoping for loan approvals, weary of high interest
rates, and interested in learning how to leverage current cash flows to finance
your own line of credit and generate a predictable retirement savings, call or
email me today.It’s your money . . .
until you give it away.
Business Shout Out!
If you need a photographer to capture your holiday events or for your Christmas card, call one of the following photographers and tell them RHFG sent you:
Chris Morgan, 214-404-2492
Michelle Gilford, 972-849-1789
Lawrence Suldon III, 469-324-7057
Robin Jefferies, 469-585-1411
Courtney Barnes, 214-642-1545
·Looking for a featured speaker for your group,
association, organization, small business, etc? I regularly present "the
10 Principles of Money Mastery" to organizations just like yours. Call or
email to make me your featured speaker!
·Earn 10% of my total commissions on anyone you
refer to my practice that becomes a client
Did you know?
60-70% of each one of your life insurance premium payments should/could go to your cash value accumulation? Don't know how much of your current premium payment is going to cash value? Call me. I'll check it for FREE.
The Secret Way of Becoming Your Own Banker
In the inaugural newsletter, I suggested you embrace the 10
Principles of Money Mastery.After
embracing the 10 Principles, the next step towards your financial freedom is
Infinite Banking.Infinite Banking is a
concept made famous by Nelson Nash, author of Becoming Your Own Banker.According to Nash, the average American consumer pays about 35 cents of
every dollar earned to some finance or interest charge.Usually when you need financing, be it
financing for a mortgage or automobile, you turn to a bank or other financial
institution.In the traditional banking
system, there are three major players:the Saver, the Borrower, and the Bank.
The Saver deposits money with the bank and earns interest on
the money deposited.The Borrower
borrows money from the bank and pays interest on the money borrowed.The Bank is just the middle man.For its effort, the Bank charges higher
interest to the Borrower than it pays to the Saver.This is called the "spread" and is how banks
make their money.
Infinite Banking makes you the bank.Using a financial vehicle to accumulate
funds, you begin to self- finance your own purchases and repay yourself therebyrecapturing interest that would have gone to a bank or finance company.
The 10 Principles of Money Mastery combined with Infinite
Banking is how you can pay off all of your debt including your mortgage in 7-10
years and double and sometimes triple your expected retirement savings.
Call or email me today to make an appointment to learn more. It's your money . . . until you give it away.
Did I mention . . .
If you own commercial property, and you're upside down, a member of my Business Advisory Council can help you refinance and
have equity in your property again.
If you own a residential property that appraises for over $420,000, and you're upside down, you too could refinance and have equity in your property again. Call or email me to find out how.