The sales profession is a risky one. High job volatility, a lack of corporate loyalty, incentive compensation structures, or even an overconcentration of equity in a single firm, all make this profession quite unique, from a financial planning standpoint.
Not all investment strategies are created equal, so it should come as no surprise that the financial industry is rife with differing opinions. However, research and science have shown that, over time, the Evidence-based (EB) approach is superior to both the typical passive and active approaches.
No one can deny that there is a direct relationship between the amount of risk we are willing to take with our investments and the returns we can expect to receive. Stocks, bonds, and real estate are all investments that have the ability to provide a nice source of income, but in order to see that reward, we must expose our principal to a certain amount of market risk.
With so many individuals in the industry claiming to be “financial advisors,” it can be difficult to differentiate between those who will truly provide objective advice and those who are more concerned with bolstering their own bottom line. Fortunately, understanding how your advisor is compensated will reveal a great deal about their client approach and the way they provide services.
When it comes to choosing an individual to manage your money, your chief concern will likely be trust. Who can I trust to help me make the best choices with my assets? How can I be sure that I’ll be offered the best advice for my unique situation and not handed a one-size-fits-all “financial plan?”
Is your financial quarterback as good as Tom Brady? And how can you tell? With so many professionals out there claiming to be financial advisors, how do you know if you’re working with one of the greats or someone just playing the part?
An individual’s mindset, or established set of beliefs and attitudes, can reveal multitudes about their behavior, including how they approach problem-solving, overcome challenges, and prioritize different aspects of their lives. Mindset can also illuminate areas of strength and weakness.
Finding a healthy work-life balance is a hot topic in today’s fast-paced society, but finding it in the sales world is no easy task. When targets and new business acquisitions are on the line, it can be difficult to step back and hit the “pause” button, even for a short while.
When the market suffers a significant downturn and economists warn of an impending recession, investors across the globe start to panic. They want answers and reassurance. They want a voice in the storm to tell them how and why they will be OK.
Are you a sales professional (or a retired sales professional) who is unsure if your current investment portfolio is on track to get you where you want to go? Not sure if your investment selection and allocations are aimed at your final destination?
For many, it can be a challenge to keep their emotions in check when it comes to investing. Staying steady as you watch the holdings you’ve invested in rise and fall can take some serious self-restraint. This is particularly challenging for competitive Sales Professionals who are typically focused on the short-term and wired to win.
Winning and losing—two sides of the same coin. Heads you win, tails you lose. But when it comes to investing, the behavioral economics "Prospect Theory" indicates that losses are twice as painful as gains are enjoyable. That is, loss is felt twice as hard as gains are. But how is this experience unique for sales pros?
Saving and investing for the future can be a bit more complex for high-income sales professionals than for the average working professional. Sales professionals are tasked with aligning their savings goals with a potentially fluctuating cash flow and also working their non-cash compensation options into the mix.
Money doesn’t make decisions. People do. This is a refrain commonly heard in the financial community when referring to investor behavior. Whether it’s budgeting, saving, or overspending, emotions are significant drivers for our behavior. But, what most solo investors don’t generally understand is that emotional investment decisions cause them to lose out...
Risk and reward go hand in hand. When it comes to investing, some risk must be taken in order to reap the potential rewards the market has to offer; however, taking too much risk can not only jeopardize your portfolio, but your way of life and the well-being of those who
As a successful sales professional, you have the potential to earn a significant amount of income at any given time. Between your salary, equity compensation, bonuses, and other variable compensation, you can accumulate a generous amount of wealth in a relatively short period of time.
After a tumultuous 2020 election season, President Biden has officially taken office. If you are a high-earner, here are 6 challenges that could arise during a Biden administration.
There are a few times in your financial life when the short-term view must be more closely monitored. One of these is what I refer to as the Danger Zone, or the few years right before and right after you retire.
Did you know people are Googling the word "Inflation" at a record-breaking rate? If the economic uncertainty of the past year has you scratching your head as well, here's what you need to know about inflation and your investments.
Smartphone usage increased dramatically during the pandemic as more people lost their jobs, were furloughed, or adhered to stay-at-home orders. On the one hand, this was to be expected as virtual communication became the only way sales professionals continued to conduct business outside...