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The Good Life

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Published in The Good Life

  • Article

    An Entrepreneur Thanks her Wage Earner Husband

    Patrick and I have been married 28 years. In that time, I have started four businesses and my husband started two. Each time we tried to keep one predictable paycheck while allowing the other to grow a business. If you’re an entrepreneur, thank your wage-earning spouse today for providing a steady baseline income. Whi...

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  • Article

    Dreary Days – Let’s Plan Some Vacations

    Last Friday my husband, Patrick, asked where I wanted to go for date night. After 27 dismally gray days through December and January, my answer was Florida! Anywhere warm and sunny that’s not Pennsylvania in Winter! During vacation, we sit down, enjoy the sunshine, spend time with our family, and see sites we want to...

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  • Article

    Thanks to My Dad for what he Taught me About Small Business

    About this time of year I like to express my love and appreciation for my father who died in December 1987 at the young age of 47. As a small dairy farmer in Oley, he was surely considered self-employed. Farming has never been an easy profession and by the 70s when I was growing up, small farms were struggling. As the...

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  • Article

    What Does Retirement Look Like to You?

    Perhaps in our grandparents generation, retirement looked like quitting your job or selling your business, then having a retirement party before proceeding to a new phase. That phase consisted of watching TV, yardwork, travelling to visit friends and generally being helpful to the extended family. In the generation of...

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  • Article

    Six Great Opportunities to Use an Office Move to Catapult Year End Growth

    By now, the kids are back in school, Summer vacations are over, and you have four months to make your business shine to the end of the year. We here at Goodlife just moved our offices, which vastly disrupted business for most of the Summer. On the other hand, our move provided some great catalysts for building busines...

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  • Article

    Seven Layer Cake Approach to Paying for College

    It’s that time of the year when kids are heading back to school and our parental thoughts turn to how will we ever pay for college. As a Financial Advisor and a parent of two post-college sons, paying for college often needs many sources of money simultaneously working together. It takes many layers of money sources t...

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  • Article

    Recession Readiness -11 Ways to Sail Through Your Next Business Downturn

    Every business has ebbs and flows. Some are seasonal, like landscapers, busy all summer with little income in winter. Other businesses are more tied to the economy, like dentists whose clients think teeth work is optional in a recession. There will be times when income is growing and your company is profitable and tim...

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  • Article

    Your Business Emergency Reserves – Ranked First to Worst

    Recessions are normal, and when they occur your business might incur a downturn along with many others. Thankfully, most pundits are not expecting one anytime soon. Let’s hope they’re right. That makes now a great time to orchestrate your emergency reserve buckets so that you can strive to be prepared when the next re...

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  • Article

    Use New Tax Law Changes to Help Build Your Retirement – Your Way

    The new tax law that went into effect December last year has many changes. What an understatement. Some changes are simple to understand while some have tax preparers still scratching their heads working to puzzle through. Now that we’ve had a few months to digest, let’s see how it might be possible to use some change...

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  • Article

    Don't Let Market Corrections Distract you from Your Business

    In February, we’ve just seen big intraday price swings in the stock market that we have not seen for a number of years. On Groundhog Day, (February 2nd) the Dow dropped 670 points. Then on Monday, February 5th, dropped 1175 points. Then Tuesday, up more than 560 points from the beginning of the market that day. As I w...

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  • Article

    Nothing says Love Like a Financial Plan

    Welcome to February! Valentine’s Day is just around the corner. I once had a couple come into my office who wanted to do a financial plan as a Valentine’s Day present to each other. I’ve created hundreds of written financial plans for people; this couple’s plan was novel merely because of the date (pun intended) they...

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  • Article

    Out With Old – In With New 2018

    Happy New Year! We business owners want this year to be better than last year, of course! So let’s create a plan to pursue making this year more profitable, easier, and more fun. As a business owner, business coach, and financial planner, I use the following wrap up / ramp up process to build my own progress and recom...

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  • Article

    HSA as a Financial Planning Tool

    A Health Savings Account (HSA) allows for tax deductible contributions into an account specifically for Health Care expenses. Typical out-of pocket medical expenses include paying for deductibles and copays. If you and your family are relatively healthy, an HSA can help build a substantial reserve for your older years...

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  • Article

    Business Owners: What’s your plan?

    We’re talking your lifetime financial plan, that is. Having completed over 384 written financial plans and calculated numerous ‘back of the napkin’ plans, each family’s lifetime financial plan for first accumulating and then distributing income (into then out-from) various investment vehicles, is unique. Collectively,...

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  • Article

    Time-Saving Tax Saving Tech Tools

    In this month’s article, I’ll be sharing some of the tech tools that I have found that make my life easier and faster, so that I can spend my time making my business more profitable. These tools are easy to use, and often free or inexpensive. Dragon Naturally Speaking — with Dragon you can talk and it will convert wha...

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  • Article

    How Savvy Business Owners Pay for College

    Most parents planning for college are familiar with the mainstream ways of saving and paying for college. These include 529 plans, Savings accounts, life insurance among other common methods. Awesomely, business owners have a few additional tools in their arsenal. Here are a few ways savvy business owners can save and...

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  • Article

    Starting the Second Half

    It’s hard to believe that we’re already half-way through the year! How are your business and family finances faring? Are you halfway to your goals? Right now is a great moment to do an assessment of both; while you still have time to adjust, to reach and even to exceed your business and family financial goals for the...

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  • Article

    25 Years as a Financial Sherpa Parent – An update!

    Since age 17, I’ve read every “Money Magazine”, “Wall Street Journal” and every other sensible financial tome I could handle. My parents were so poor they had to sell a cow to pay each car insurance or college bill. By the time I had my first child at age 32, I was no longer struggling. I had saved 10 percent of every...

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  • Article

    Never too Early to Start Next Year’s Business Tax Planning

    It’s April! By now you’re either done with your taxes or WISH you were done! That makes it a great time to plan what you might do differently so that next year is even easier to get your taxes completed on time with less stress. And you might also be able to pay less in taxes. Take a moment to think: Would it make sen...

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  • Article

    Spring Clean Your Business to Survive and Thrive

    Spring is in the air. Warm weather is approaching. Time to clean out any sluggish parts of your business so you can create growth and possibly more profits. Here are some items you should review and improve upon every year if you want to grow your profits and your life. I know you’re busy, but if you want the life you...

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  • Article

    Wrap Up Ramp Up 2017

    Normally this time of year I encourage all my business owner clients and faithful readers take a goodlook at what you’ve accomplished so far this year, to accelerate your efforts so you can finish the year strong, and to plan for what you want to have happen next year. This time I’m going to address how those plans ca...

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  • Article

    Tax Strategies for Business Owners

    Tax planning is the process of looking at various tax options in order to determine when, whether, and how to conduct business and personal transactions to reduce or eliminate tax liability. Many small business owners ignore tax planning. They don't even think about their taxes until it's time to meet with their accou...

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  • Article

    Does Your Client Pay Slowly?

    There is a growing trend among companies to pay later and later. What was 30 days to pay is now becoming 45. Those previously at 45 are going to 60. Worse, small companies are typically targeted first. Here’s what you can do to speed up clients who pay slowly: Get paid at time of service. If your service is completed...

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  • Article

    10 Things to Consider Before Buying Life Insurance

    September is Life Insurance Awareness Month. Sadly, Financial Planning only gets a day and it’s different in each state. That’s just not fair! But life insurance is important for your family goals, so here are the important things to consider before buying life insurance. Review Your Life Goals Most of us have goals t...

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  • Article

    Exotic Travel for Business

    In case you didn’t already know, I have the travel bug. It started in College when I got the opportunity to visit my UK pen pal and her family in London. Even more than the tourist destinations, I love seeing how people live differently around the world. Staying with her family allowed me a front row seat to the daily...

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  • Article

    What does retirement look like to you?

    Perhaps in our grandparents generation retirement look like quitting your job, having a retirement party, then proceeding to a new phase of watching TV, yardwork, traveling to visit friends and generally being helpful to the extended family. In the generation of clients that I’m working with now, there is as many indi...

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  • Article

    College Bills are Coming!

    If you have kids in college, the Fall tuition bill is on its way to your mailbox in June-July. If you have a first time starting Freshman, this is your first REAL experience with paying for college. If your kids are younger, now is the perfect time to get serious with college planning how you and/or your kids will pay...

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  • Article

    Is Your Financial Planning Pursuing Wealth?

    The Business Dictionary defines wealth as: “ Tangible or intangible things that makes a person , family , or group better off.” When building a financial plan for my clients, our main goal is that they pursue their own path to wealth. Each person/couple/family have their own ideas: fun cars, lots of vacations, or paid...

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  • Article

    What’s your Plan B? - Financial Planning for When Things Go Wrong

    In the lyrics of "Beautiful Boy (Darling Boy)" by the famous Lennon, he says "Life is what happens to you while you're busy making other plans." As a financial planner, it’s amazingly rewarding to plan successful retirements, education, legacy and your other life goals. And it is also my job to help you mitigate for t...

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  • Article

    Leaving your Legacy Touches Others’ Lives

    What happens to your stuff when you are gone? Usually when people pass away, there is a huge focus on the things they owned and who gets what. But a legacy isn't only about leaving what you’ve earned, but also what you’ve learned. The notion that you can have a lasting legacy by handing down ideas and values may be a...

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  • Article

    Are You Ready for a Snow Down?

    Or should we say a winter-related slow down? Many businesses have a slow season in winter, not just landscaping or retail, but also contractors and other types of businesses. If you expect your business to slow down over the winter, here are a few great ideas for using your time wisely to help you grow your business t...

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  • Article

    Winter Is Great for Financial Planning

    My favorite time to review my financial plan has always been right after Christmas and into the New Year. When I was a corporate employee, employers encouraged us to take off that week. As a small business owner, those clients who want to meet also suggest year-end as a good time for financial assessment. Take a littl...

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  • Article

    What Every Business Owner can do Every Year in Striving to Survive and Thrive

    You set out to build a business, not a 70-hour a week job. You love your customers and work really hard for them. But, do you find you are working for employee wages, not business owner profits? Here are the items you can review and improve upon every year in striving to grow your profits and your life. No kidding. I...

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  • Article

    Comprehensive Financial Planning

    As a CFP® (Certified Financial Planner™ Professional), much of my time is spent helping people pursue a very comfortable retirement as well as addressing their other lifetime goals. A comfortable retirement means having enough money to pay all your bills sustainably plus money for the fun things once you no longer nee...

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  • Article

    Fall Financial Planning for Business Owners

    By now, your summer vacations have faded away into fond memories. You’re seeing the leaves start to change and probably realizing that the year is quickly marching on. With several months left in the year to work on achieving our goals, now is a great time to launch renewed efforts to finish the year strong. Since we’...

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  • Article

    Surprising Tech Tools for Entrepreneurs

    Even though I was a tech genius in the ‘90s, I no longer pay attention to any technology trend unless it really makes my life easier, less stressful and better able to serve my clients. In serving my passion of helping small entrepreneurs have an amazing life way beyond merely making a living, I want to share a few pr...

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  • Article

    An Entrepreneur Thanks Her Wage Earner Husband

    Patrick and I have been married 25 years. In that time, I have started four businesses and my husband started two. Each time we tried to keep one predictable paycheck while allowing the other to grow a business. If you’re an entrepreneur, thank your wage-earning spouse today for providing a steady baseline income. Whi...

    Read

  • Article

    Vacations Inspire Financial Planning

    Business owners are some of the busiest people I know. They often start early and work late, juggling phone calls, emails, employees, projects and finances. Sometimes the only time that business owners get to sit and look at our personal big picture is when we finally go on vacation. During vacation, we sit down, enjo...

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  • Article

    How Savvy Business Owners Pay for College

    Most parents planning for college are familiar with the mainstream ways of saving and paying for college. These include 529 plans, savings accounts and life insurance among other common methods. Awesomely, business owners have a few additional tools in their arsenal. Here are a few ways savvy business owners can save...

    Read

  • Article

    Spring Clean Your Business

    Spring is in the air. Warm weather is approaching. Time to clean out any sluggish parts of your business so you can create growth and possibly more profits. Here are some items you should review and improve upon every year if you want to grow your profits and your life. I know you’re busy, but if you want the life you...

    Read

  • Article

    20 Years as a Financial-Counselor Parent

    Since age 17, I’ve read every Money Magazine , Wall Street Journal and every other sensible financial publication and book I could handle. My parents were so poor they had to sell a cow to pay each car insurance or college bill. By the time I had my first child at age 32, I was no longer struggling. I had saved 10 per...

    Read

  • Article

    Ageless Financial Advice for Young Professionals

    Having not yet been kicked out of any Young Professionals’ clubs, there’s a couple more decades of experience under my belt than the next generation of young professionals. As a personal investor and financial planner with over 30 years of experience, here’s some ageless wisdom for young professionals in your 20’s and...

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  • Article

    A Mortgage in Retirement Need Not Destroy your Retirement Financial Plan

    If you are in your early 50s and just buying a home, you may be paying that mortgage in your 80s. Most financial planners believe this could lead to disaster down the road because seniors don’t usually have the income to support debt repayment in addition to monthly expenses, so they may run out of money way too soon....

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  • Article

    ON VACATION! A Must for Small Business Owners

    We deserve it. Everyone else gets one, why not us? My husband, who works a ‘straight’ job gets three weeks of vacation a year. My boss (me!) told myself for several years, “no vacation.” We’re too busy. We can’t afford it. Who will help our clients? So I sat down with my boss (me!) and set her straight. I want four we...

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  • Article

    Home Features Business Owners Think About Before Buying

    My husband and I have started, owned, and grown four businesses in our 24 years of marriage and are starting a fifth. In that time, we have owned four homes. Although the majority of our business has been conducted outside the home, most were started at home or involved the use of our home in numerous ways. If you are...

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  • Article

    Wrap Up 2014 to Ramp Up 2015

    If we want next year to be better than this year (and who doesn’t), we need to develop a plan to make that happen. As business owner, business coach and financial planner I use the following wrap up/ramp up process to build my own progress and recommend these steps to my business-owner clients as well. The power of th...

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