Subscribe to LFO' s Blog
unHeritage – 11 Pitfalls to Family Legacy and How to Avoid Them
“unHeritage is definitely the lighthouse for protecting your family and wealth for generations. This book is a must read for anyone interested in legacy planning.” Enzo Calamo
Center for Family Conversations
The Center for Family Conversations (CFC) is a resource center that provides the integral tools and ideas in helping families establish a 100-year-plus Family Legacy Plan.
THE TYCOON PLAYBOOK – How Business Empires Are Built
The Tycoon Playbook course was created for business families who are already running a successful business and wish to ramp up their growth while preserving wealth for future generations. Specifically, the Playbook teaches high performance business owners the two most highly rewarded skills in business, namely deal-making and how to acquire cash flow producing business assets.
Post Tagged with: "Finance"
Succession Planning for a Family Business
Financing your Family Business without Going Broke Financing is indispensable for the success and growth of your family business. But after you’ve already tapped out your personal funds, and perhaps those of friends or other family members to get your business up and going, you’re going to have to find a way to keep the lights on without going broke. That means you’re going to have to borrow money or obtain credit from a variety of institutional lenders. Business loans and lines of credit will allow you to cover expenses, buy new equipment, manage cash flow, purchase inventory, create new products or services, or expand your business when the circumstances are right. If your business is new and doesn’t have an established credit history, you may need to provide collateral to secure a loan or credit line. This could be any personal assets that you cannot otherwise monetize or afford to spend on the business, but can be utilized as security. Your best bet would be to approach a local bank or credit union where you have a personal relationship and a history of sound money management. If your business does have a positive credit history for at least a year or two, the commercial bank that issued your business credit card is a good place to go to apply for a line of credit. Make sure that you’ve paid the balance on that card promptly each month, and if necessary, let the bank know that you’ve been shopping around and intend to move any accounts to the lender that can provide credit with the best terms. Most banks will want to keep you as a customer. Regardless of the age or reputation of your family business, or where you go for financing, you’re going to have to prove to every lender that it is a financially solid concern, with the capability of long-term survival. So make sure you have all your paperwork in order, including all financial and tax statements, all profit and loss history, as well as a list of contacts for credit references. You’ll also need to provide a pro forma to each potential lender. This will be a description of how you intend to utilize your loan or line of credit, how it will affect your cash flow, and how you anticipate paying back the money you’re going to borrow. Once you’ve secured funding, make sure you stick religiously to a repayment schedule. As you continue to display credit worthiness, you will be able to increase your credit limit, borrow at more favorable rates, and most important, keep the business going without going broke. Al Krulick is an award-winning journalist with dozens of years of writing experience. He writes and blogs for Debt.org.
Building a Dream Team, Part 1 This episode of Finance Talk explores how advisors can align with third-party professionals in order to provide more comprehensive services.
Terry Savage: How Much Money Do You Need to Retire? Terry’s financial expertise comes from experience. she started her career as a stockbroker, and became a founding member – and the first woman trader – on the chicago board options exchange. Terry offers advice ranging from investments to withdrawal calculations to long-term care insurance — to make sure your money lasts as long as you do! Columnist and commentator Terry Savage delivers straight talk on: Putting time to work in building a nest egg How credit card debt can work against you The best place to grow your money Where to find free personalized advice Terry Savage is a nationally known expert on personal finance and a regular television commentator on CNN, CNBC, PBS, and NBC on issues related to investing and financial markets. She is the nationally syndicated Chicago Sun-Times personal finance columnist.
Didier Sornette: How we can predict the next financial crisis The 2007-2008 financial crisis, you might think, was an unpredictable one-time crash. But Didier Sornette and his Financial Crisis Observatory have plotted a set of early warning signs for unstable, growing systems, tracking the moment when any bubble is about to pop. (And he’s seeing it happen again, right now.) Didier Sornette studies whether it is possible to anticipate big changes or predict crises in complex systems. WHY YOU SHOULD LISTEN TO HIM? While financial crashes, recessions, earthquakes and other extreme events appear chaotic, Didier Sornette’s research is focused on finding out whether they are, in fact, predictable. They may happen often as a surprise, he suggests, but they don’t come out of the blue: the most extreme risks (and gains) are what he calls “dragon kings” that almost always result from a visible drift toward a critical instability. In his hypothesis, this instability has measurable technical and/or socio-economical precursors. As he says: “Crises are not external shocks.” An expert on complex systems, Sornette is the chair of entrepreneurial risk at the Swiss Federal Institute of Technology, and director of the Financial Crisis Observatory, a project to test the hypothesis that markets can be predictable, especially during bubbles. He’s the author of Why Stock Markets Crash: Critical Events in Complex Financial Systems. “Didier Sornette has immersed his life in risk.” Wall Street Journal
The American Family Financial Crisis Some pretty alarming statistics of the American family’s financial reality. Let’s all change this with one step at a time and make sure that you have a process for making smart financial decisions in your life. It’s time to take charge of our finances and reverse this trend.
My parents won’t listen to my money advice! Even if your parents don’t trust your judgment, you can still steer them in the right financial direction.
Mike Koenigs Interviews John Assaraf About Brain Performance and Shattering Your Financial Goals Do you ever feel like there’s an invisible barrier preventing you from reaching your financial goals … … no matter how hard you work, how diligent you are in managing your money, and how much you learn? Well, the world’s top neuroscientists and brain experts say … you’re right! Science has proven that every human being is conditioned to earn only a certain amount of income. Some people are conditioned to earn $30,000 or $50,000. Others are conditioned to earn $250,000 or even $500,000… But the bottom line is … you have a financial “glass ceiling“! Scientists now know that you will NEVER outperform your own internal hidden financial self-image. Your current financial results are nothing more than old neural patterns, beliefs, perceptions and habits that you’ve accumulated over your life. But brainscan studies have PROVEN something really exciting… You can re-wire and strengthen the key areas in your brain that control your conscious thoughts AND subconscious feelings and emotions that influence every financial and business decision you make. This requires applying the right brain-training methodologies and technologies in the right way … so you can to replace limiting beliefs, behaviors, and habits that are currently keeping you stuck.
Enzo Calamo Is A Best Selling Author
Enzo Calamo is the Best Selling co-author of "How To Create Infinite Returns In Real Estate Using The Secret Asset: How To Recover All Business and Personal Expenses Using The Secret Asset" This is a must read for every affluent investor.
Enzo Calamo Is A Gold Award Curator
Scoop.it describes Enzo Calamo "as a rock star of content curation."
Lugen Family Office is the Most Trusted Online Curator on Legacy Planning, Wealth Management, Financial Literacy, Family Business, Philanthropy, Technology Trends, Healthy Living, and the UHNW.
ALL POSTS ARE CURATED BY ACTUAL EXPERTS!
Check out our 11 Gold Award UHNW Newswires.
- Warren Buffett Becomes World’s Second Richest Person After Nearly $8 Billion Surge In His Fortune Since Election DayDecember 9, 2016
- Stay on Your OWN Path – Kerry Washington (@kerrywashington) – #Entspresso – YouTubeDecember 9, 2016
- Naveen Jain’s Top 10 Rules For Success (@Naveen_Jain_CEO) – YouTubeDecember 9, 2016
- Follow Your PASSION – Pep Guardiola – #Entspresso – YouTubeDecember 9, 2016
- Bradley Cooper’s Top 10 Rules For Success – YouTubeDecember 9, 2016
- Here’s Why You Shouldn’t Multitask, According to a MIT NeuroscientistDecember 9, 2016
- 7 Reasons Why Servants Are Better in LeadershipDecember 9, 2016
- The $2.6 million Bugatti Chiron is like no other car in the worldDecember 9, 2016
- Wall Street opens higher on gains in health stocksDecember 9, 2016
- U.S. wholesale inventories fall in OctoberDecember 9, 2016
- Here’s the presentation David Einhorn just gave to a room of elite hedge fund managersDecember 9, 2016
- Combine Long-Term Care With Life Insurance? Do the Numbers FirstDecember 9, 2016
- Combine Long-Term Care With Life Insurance? Do the Numbers FirstDecember 9, 2016
- ‘Evidence not politics’: Committee recommends ending Ottawa veto on pipelinesDecember 9, 2016
- The US is $19.9 trillion in debt — here are the countries we owe the mostDecember 9, 2016
- A financial planner reveals an important money lesson young people can learn from the richDecember 9, 2016
- ‘The 4-Hour Workweek’ author Tim Ferriss reveals 2 common principles he’s found in successful peopleDecember 9, 2016
- Q&A: GoFundMe CEO Rob Solomon on the Fort Mac Fires and the future of online givingDecember 9, 2016
- Government workers keep getting richer off money taken from the rest of usDecember 9, 2016
- Americans’ odds of earnings more than their parents have plungedDecember 9, 2016
- Robert Shiller on the market rally: ‘Trump does magic’December 9, 2016
- Markets are on a ‘sugar high,’ billionaire hedge fund manager Marc Lasry saysDecember 9, 2016
- This Is How Billionaires Do Their Christmas ShoppingDecember 9, 2016
- Billionaire Rinehart Cleared to Buy Iconic Aussie Cattle CompanyDecember 9, 2016
- Carlos Slim Invests $750 Million More in Telekom AustriaDecember 9, 2016
- Australia’s Luxury Car Market Has Hit A Record High — What’s Behind It?December 9, 2016
- Sports Direct tycoon Mike Ashley buys a £40m JET despite plummeting profitsDecember 9, 2016
- The rise of the ‘Social CEO’December 8, 2016
- 15 of the Most Beautiful Places in Canada | Cosmopolitan – YouTubeDecember 8, 2016
- How To Accumulate Real Wealth | CNBC – YouTubeDecember 8, 2016
- 5 More Reasons Why Most People Don’t Become Wealthy | Brian Tracy – YouTubeDecember 8, 2016
- PepsiCo CEO: I Write Letters to Parents of My Executives – YouTubeDecember 8, 2016
- The David Rubenstein Show: Bill Gates – YouTubeDecember 8, 2016
- China is about to hit Macau hard, and casino stocks are getting spankedDecember 8, 2016
- A behavioral economist reveals when it’s time to quit to your jobDecember 8, 2016
- Something interesting — and possibly alarming — is happening with Tesla stockDecember 8, 2016
- Inflationary pressures are stirring in ChinaDecember 8, 2016
- 4 billionaires who support kids non-profits | EasierDecember 8, 2016
- Only 51% of 30-year-olds are making more money than their parents didDecember 8, 2016
- Stock benchmarks just did something they haven’t done in nearly 20 yearsDecember 8, 2016
Lugen Family Office Proudly Supports AIP
The International Association of Advisors in Philanthropy is the leading charitable giving organization in the world for inspiring collaboration among professionals.
AIP Ambassador, Past President
LFO Website Statistics