Blog 2019 Archives - Atlanta Financial Associates, LLC

Remember in December: 8 Critical Ways to Organize your Finances Before Ringing in 2020

December 30, 2019

I’d like to believe that everyone understands the value in a year-end review of their personal finances. Statistics that I’ve seen indicate that over half of people who make resolutions indicate a change to household finances and saving money is a priority in the new year1. What is a bit of surprise to me is that so many put off (or neglect all together) actually reviewing their finances before year’s end. My conclusion: one of the biggest deterrents is the time it takes to get things organized.

When it comes to being successful with money, strong organization will empower you more than anything else you can do to take control of your finances moving forward. With my personal and professional understanding of the challenges of this process, I’ve put together an 8-step checklist to get your finances organized, take inventory of where you stand, and ultimately get you ready to close the books on 2019.

Business Owners: Beat the Odds by Preparing Your Company for a Successful Sale

December 17, 2019

When talking with my clients who own businesses, many of them have a goal to sell their business for full value so that they will be able to fund the retirement lifestyle they desire, take care of their family, and support the charitable intentions that are important to them. Unfortunately, many owners will probably not be able to sell their businesses when they are ready because they are not taking critical steps needed toward a transition or toward getting the full value of their enterprise, even though many of them have 80-90% of their financial assets/net worth based in the business itself. 1 The fact that most business owners are not taking the critical steps to prepare their businesses for sale is supported by a recent study conducted by the Exit Planning Institute that showed that only 20-30% of the businesses that go to the market actually end up selling.2 If you are a business owner and your plans include selling your business sometime in the future, what can you begin doing today to enhance your business’ value and make it more attractive to a future buyer?

3 Tips for Physicians to Find the Best Financial Advisor

December 15, 2019

Believe it or not, some financial advisors do not have to abide by their own version of a Hippocratic Oath. As a physician, you are a fiduciary, a professional who is obligated to put your patients’ best interest first. But, did you know that not all financial advisors are required to abide by a fiduciary standard? As a physician, you have a Hippocratic oath. It’s a smart idea to find a financial advisor that is bound to the same set of standards to serve your interests first. Here are three things you should ask in your search for a financial advisor.

Why “Equitable Distribution” In A Divorce May Not Be Enough For Women

December 3, 2019

If you’re a married woman, research shows that you are far more likely to seek a divorce than your husband. In fact, women initiate 69% of all divorces in the U.S..

If you do decide to end your marriage, you and your soon-to-be ex-husband will have to take stock of all your assets and then begin the process of splitting them up.

5 Biggest Factors Affecting Your Credit

November 26, 2019

Throughout my career as a wealth manager and financial planner, I’ve found that one of the most misunderstood components of our financial lives is credit. Most people understand the basics – you borrow money from a bank/credit card company/mortgage lender and pay interest on the balance. But what many people don’t understand is how their credit scores are determined, and how those scores can impact their overall financial lives.

How to Maximize the Deductibility of Charitable Contributions

November 20, 2019

The tax law changes in 2018 dramatically reduced the deductibility of many expenses and increased the standard deduction dramatically. However, these same tax reforms cleared the way for individuals and families to continue to support the causes they believe in while still potentially minimizing their taxes. However, this new approach requires planning ahead and an understanding of how “bunching” deductions work.

Category: Blog 2019