Long-time listeners to the show know that we normally talk sales and growth and strategy. But today, we’re taking a step off the main track with this episode to talk about “Financial Literacy.” Snooze, right? Yep, we’re not talking about growth and investing and all of the fun stuff that goes along with startup life. Instead, I’m making it my job to make sure you know a key fundamental to running your business and your life – Financial Literacy. And it turns out this can directly affect sales and growth – What kind of candidates are you trying to target? Gen Y vs More experienced? What kinds of benefits should you offer, or need to offer to attract the right candidates? As you sell to larger enterprises, their procurement departments will ask you about your insurance programs with your startup. What about business insurance – is your company covered? And how about yourself and your family – are THEY covered if something happens to you or your business… Every seven years, something drastically will change in your life. Are you ready for it? Enter our guest… Tim Phebus, a Financial Services Entrepreneur and Marketing Director at WealthWave. Even better, Tim is a a life-long personal friend and a person I trust with my own personal insurance and family protection. Here are some of the key highlights from our conversation…. Go see someone that specializes in Financial services. Write down your goals - what’s most important to you and the company Call an advisor to get multiple consultations Insurance: Business Owner Policy Business Insurance General / Liability Insurance Commercial Insurance Business Insurance: Key Man Insurance - Policy on one of my key employees Buy-Sell Agreement Insurance - Co-owner dies, forced to leave the business, or chooses to leave the business Split-Dollar Agreement - The employer will pay for a life insurance that accrues cash value. Family Coverage: Emergency Fund: Liquid Cash of 3-6 months College Planning: 529 Plan, state-by-state prepaid tuition, Indexed Universal Life (IULs) Long Term Care plan Living Wills & Trusts Life Insurance: 8 types of life insurance Term life insurance – allot specific coverage amount for a set period of time. Whole life policy – outdated Return of Premium – Index Universal Life – Life insurance with death benefit, builds cash value – becomes as investment Here’s Tim’s Contact Information: www.wealthwave.com/timothyphebus (702) 326-1553 timothy.phebus@wealthwave.com
