Find out the one number you need to know! Also read about hiring your kids for a summer job, the benefits of doing a 12-month financial forecast and dive into the wonderful world of podcasts!
Do you know your net worth?
Find out why knowing this number is one of the most important financial concepts you’ll want to understand. If you own a small business, read about why you should consider hiring your kids for a part-time summer job.
Also find out how a continuous 12-month forecast can help you better organize your finances and tax obligations, and take a look at some of the most popular podcast genres playing over the cyber airwaves today.
Please call if you would like to discuss how this information could impact your situation. If you know someone who could benefit from this newsletter, feel free to send it to them.
- June 14
- Flag Day
- June 20
- Father’s Day
In this issue:
- Know This Number!
- The Wonderful World of Podcasts
- Hire Your Kids for Tax Savings
- How to Roll with a Continuous 12-Month Forecast
Know This Number!
Knowing your net worth and understanding how it is changing over time is one of the most important financial concepts that everyone needs to understand. This number is used by banks, mortgage companies, insurance companies and you! Your net worth impacts your credit score, which in turn impacts your interest rates and things as mundane as the amount you pay for auto insurance.
The Wonderful World of Podcasts
It’s an audiobook! It’s a radio show! No, it’s a podcast!
Podcasts have taken the world by storm over the past decade. Whether you’re a seasoned podcast consumer or first-time listener, navigating the podcasting landscape can be overwhelming. Here is what you need to know.
Its beauty comes from its simplicity – the spoken word recorded and uploaded to the internet. It can be as basic as one person reading the top news stories of the day or as sophisticated as a highly-produced, multi-layered story that takes a full-time crew and multiple episodes to narrate. Its low cost to entry and wide reach attracts podcasters small and large to create a vast library of content available in every genre you can imagine.
Unlike over-the-air radio, podcasts are not regulated by the FCC, so anything goes. If foul language and mature subjects are not your thing, carefully read descriptions and reviews so you understand the nature of the content. Many podcasts will also put a disclaimer at the beginning of the episode if it contains mature themes.
Podcasts are also easy to find and use. Simply search podcasts and follow the instructions to use them. The more popular apps for listening to podcasts include Apple, Spotify, Stitcher, SoundCloud and Google.
Hire Your Kids for Tax Savings
Summer’s almost here, and soon most children will be on their long-awaited summer vacation. If you own or manage a business, have you thought of hiring your children, nieces, or nephews for a summer job?
How to Roll with a Continuous 12-Month Forecast
Tax and financial planning is a year-round proposition. In fact, you can benefit personally from a continuous, 12-month rolling forecast, much like a business does.
What is a rolling forecast?
Rolling forecasts let you continuously plan with a constant number of periods 12 months into the future. For example, on January 1, you would plan what your financial picture looks like each month through January 1 of the following year. When February 1 rolls around, you would then drop the beginning month and add a forecast month at the end of the 12-month period. In this case, you add February of the next year into your 12-month forecast.