I was recently having a conversation with a local business leader about Bitcoin and “Meme Stocks”, two topics that have been in the financial news a lot in the past year. He posed the following question to me: What do you think about these investments? My response to this question was to dig a little deeper with the following questions: What role will the money in question play in your… Read More
The Master’s Minute – Investing vs. Gambling
The Business of Money – Seats at the Planning Table (Part 3)
We have heard a lot about ‘virtual’ in the past year and a half, but your Virtual Team is not a team that meets exclusively via Zoom. Rather, this team comes around your Core team when you encounter issues outside their areas of competency. Members of your Virtual Team will get involved to play a specific, specialized role, and when the need for that role is gone, they step out…. Read More
The Business of Money – Seats at the Planning Table (Part 2)
What seats do you have at your planning table? What seats might you need that you don’t have? What roles do you need your advisors to play to help grow and protect your business? These are probably not questions you lay awake asking yourself each night. Very few of us intentionally plan out our advisory team, unless there is a forcing mechanism (sale, succession, catastrophic event) that leads us to… Read More
The Master’s Minute – As Good as the Pictures
Earlier this year, I planned two vacation getaways. As you might expect, I needed to find lodging accommodations and started the process by perusing several websites for suitable arrangements. My preliminary search consisted of simply looking at pictures of places that met my minimum accommodation requirements (bedrooms, bathrooms, etc.). From the places I found attractive, I read the detailed website descriptions and a few reviews from guests that have recently… Read More
The Master’s Minute – Houses, Used Cars, and the Stock Market
Are you a bit curious what these three things have in common? Today, we are going to discuss current trends and cycles of various markets. You probably know someone who is either selling, or hoping to buy, a house right now. Home prices have exploded due to super-low interest rates, high buyer demand, and a historically low supply of homes for sale on the market. It is a fantastic time… Read More
The Master’s Minute – Rebalance
As a young child, my mother would take me to Hershey Park once each summer. There were many rides that I really enjoyed, and the Twin Turnpike was one of them. For those who are not familiar with this ride, it is a track shaped like a dog leg with two roads which are laid out parallel to each other. There were two types of gas-powered cars you could drive…. Read More
The Master’s Minute – Big Ideas
I love “big ideas”. The way I see it, a big idea is the “why” behind what we do. It’s the idea that sits on top of other ideas. One of my big ideas is that we shouldn’t wait until someone close to us dies to celebrate life. Life is meant to be celebrated along the way. Fortunately, my wife, Jeané, agrees with this big idea, so we’re always on… Read More
The Business of Money – Seats at the Planning Table (Part I)
This is the first blog of our series titled “Seats at the Planning Table” in which we will explore the who, what, when and why behind organizing a planning team for your business. In this series, we are not talking about your “in the business” strategic planning team, but your “on the business” planning team. This team will be made up of various outside advisors and some internal team members…. Read More
The Master’s Minute – Let Your Goals Dictate Your Risk (Part 2)
If you missed Part 1, you can read it here. So, after reading last week’s post, you may be thinking: “Garry, are you telling me that when we have reached our goals, we just need to sit on our money, take risk off the table and stop pursuing what is next?” Of course not! The beauty of this principal is that, by following it, we actually get more opportunity to… Read More
