Ashley Nichols True Planning With Ash

10/06/2023

We are hiring! This should mean everything to a business owner. You have put a lot of hard work, energy, time, sacrifice, into building your business so it should be imperative that you hire the right people to help run and grow your business. And just as important as it is to hire the right people, it’s important that you value those people and treat them how you’d want them to treat your business. Voluntary benefits are one way to create value for your employees in the work place! Contact me if you’d like to learn more.

10/05/2023

The first step to knowing your money is getting organized. Money can be stressful but it doesn’t have to be! I take the time to learn not only my clients’ needs but also their wants and their goals. Together we create a clear path to help you on your financial journey. When you’re in alignment your life flows.

10/04/2023

Do you feel out of touch with your money? It’s coming in but you don’t know what to do with it. Or perhaps you’re too afraid to do anything with it. I can help you understand what your relationship with money is and why you have the beliefs and habits that you do. I help you to create a very clear pathway to know your money and reach your goals. Love, Ash 🤍

10/04/2023

Helping executive women align their finances with their goals 🤍

05/19/2023

If we’re being honest, most of us don’t think about life insurance. Especially when we’re young, don’t have any kids, don’t own property, etc. And even more never consider disability insurance. Why? Well for one, it’s not talked about and most aren’t educated on it. And two, accidents don’t happen to us, they happen to other people….right? Unfortunately, that’s the reality of how most think. What I would like to change is our thinking around this.

We are not promised our health, accidents and catastrophic events can’t be predicted, we know we will die, however we don’t know when. Because of these uncertainties we need to start being proactive and not reactive.

Why are all the things listed above important and/or required but when it comes to protecting yourself, we push it to the side?

05/12/2023

Business Owners! Starting a business should include estate planning!

Common things that are missed when starting a business:

1. Buy-Sell Agreement- in the event of a death, disability, incarceration, bankruptcy, etc. what agreement is in place to keep the business going, protect the owner’s heirs, if a partnership, how will the transfer of ownership be handled?
2. The funding of a buy-sell agreement- where are the funds coming from if a partner needs to buy out the shares or interest of one of the owners? How will your debts in the business be paid, will your heirs have to funds to continue the business, etc.
3. Special Planning Considerations- 1. Estate reduction (gift of business ownership), 2. Estate liquidity (avoid a forced sale of business), 3. Estate equalization (not all family members know how to run the business or want to), 4. Income for surviving spouse (can spouse run the business), 5. Business succession- who is taking over when you exit, 6. Key person (making sure the people who are key to making the business run are taken care of)
4. Setting up a trust for estate taxes
5. Life insurance- the earlier the better

Speak with a financial professional, educate yourself, and be proactive. This is for educational purposes only. Each individual situation is different. Please consult with a financial professional.

05/10/2023

Ashley Nichols

According to various financial websites, these banks fall, consistently within the top 10 high yield savings accounts that pay the highest average percentage yield (APY).

With the highest on the list at 4.85% APY compared to the National average yield for traditional savings accounts at .24% APY, according to bankrates May 3 weekly survey of institutions.

According to Forbes, nearly half (48%) of Americans have opened high-yield savings accounts. However, when you look at the average savings by age, Gen Z (73%) and millennials (59%) are more likely to have opened one. Even more interesting is that 65% of those who earned $150,000 or more have opened a high-yield savings account, compared to just 17% of those earning under 30,000.

The most popular reason for not opening one include the perception that opening an account would be too complicated and time consuming (24%) and not wanting to open an account with an online only bank (23%). Most high yield savings accounts can be opened in 15 minutes or less which suggests a lack of awareness around the application and account opening process.

Why is this important? High yield savings accounts give you an advantage and opportunity to maximize your savings. You should strive to create a 6 month reserve of all fixed expenses that you put away in case of emergencies. You want these funds to be readily available and not at risk to market fluctuations.

Additionally, if you have short, mid or long term goals that you have been saving for and are unwilling to risk loss and need the funds to be readily available. High yield savings accounts are a great option to build interest.

This isn’t to say you should put all of your savings in a high yield savings account. It is important to diversify and allocate savings accordingly in relation to your goals and needs. Each Individual situation varies and it’s best to speak with a financial representative to go over what your financial picture looks like and how best to strategize to help you attain your goals.

05/10/2023

According to various financial websites, these banks fall, consistently within the top 10 high yield savings accounts that pay the highest average percentage yield (APY).

With the highest on the list at 4.85% APY compared to the National average yield for traditional savings accounts at .24% APY, according to bankrates May 3 weekly survey of institutions.

According to Forbes, nearly half (48%) of Americans have opened high-yield savings accounts. However, when you look at the average savings by age, Gen Z (73%) and millennials (59%) are more likely to have opened one. Even more interesting is that 65% of those who earned $150,000 or more have opened a high-yield savings account, compared to just 17% of those earning under 30,000.

The most popular reason for not opening one include the perception that opening an account would be too complicated and time consuming (24%) and not wanting to open an account with an online only bank (23%). Most high yield savings accounts can be opened in 15 minutes or less which suggests a lack of awareness around the application and account opening process.

Why is this important? High yield savings accounts give you an advantage and opportunity to maximize your savings. You should strive to create a 6 month reserve of all fixed expenses that you put away in case of emergencies. You want these funds to be readily available and not at risk to market fluctuations.

Additionally, if you have short, mid or long term goals that you have been saving for and are unwilling to risk loss and need the funds to be readily available. High yield savings accounts are a great option to build interest.

This isn’t to say you should put all of your savings in a high yield savings account. It is important to diversify and allocate savings accordingly in relation to your goals and needs. Each Individual situation varies and it’s best to speak with a financial representative to go over what your financial picture looks like and how best to strategize to help you attain your goals.

05/10/2023

According to various financial websites, these banks fall, consistently within the top 10 high yield savings accounts that pay the highest average percentage yield (APY).

With the highest on the list at 4.85% APY compared to the National average yield for traditional savings accounts at .24% APY, according to bankrates May 3 weekly survey of institutions.

According to Forbes, nearly half (48%) of Americans have opened high-yield savings accounts. However, when you look at the average savings by age, Gen Z (73%) and millennials (59%) are more likely to have opened one. Even more interesting is that 65% of those who earned $150,000 or more have opened a high-yield savings account, compared to just 17% of those earning under 30,000.

The most popular reason for not opening one include the perception that opening an account would be too complicated and time consuming (24%) and not wanting to open an account with an online only bank (23%). Most high yield savings accounts can be opened in 15 minutes or less which suggests a lack of awareness around the application and account opening process.

Why is this important? High yield savings accounts give you an advantage and opportunity to maximize your savings. You should strive to create a 6 month reserve of all fixed expenses that you put away in case of emergencies. You want these funds to be readily available and not at risk to market fluctuations.

Additionally, if you have short, mid or long term goals that you have been saving for and are unwilling to risk loss and need the funds to be readily available. High yield savings accounts are a great option to build interest.

This isn’t to say you should put all of your savings in a high yield savings account. It is important to diversify and allocate savings accordingly in relation to your goals and needs. Each Individual situation varies and it’s best to speak with a financial representative to go over what your financial picture looks like and how best to strategize to help you attain your goals.

05/05/2023

Ashley Nichols

No matter what you choose as a business owner in how you want to transfer your business, you have to have a plan in place.

Factors I consider:
1. What kind of business is it?
2. Is it closely held? Meaning a small amount of owners, family, etc.
3. Is there a ready buyer or market for the business if the owner wanted to sell?
4. Substantial owner participation? Operations of the business?
5. Will the owner have sufficient income for themselves and/or their family once they sell?
6. Income replacement? Has that been thought about?
7. If transferring to a family member, can that member run the business or ready to run the business?
8. Finding strategies to transform the business value into financial security for the owner

Problems that present when there is a lack of planning :
1. Loss of income
2. Loss of control
3. Loss of business value

Business continuation planning is essential to protect, preserve, and control the outcome.

Some planning options can be:
1. Buy-Sell Agreement- written agreement that provides certainty of a sale at an agreed price. Terms are agreed upon. Surviving owners retain control and mgt of the business. Price/formula for determining price. Make sure it’s funded! What does this protect? Death, disability, bankruptcy, if an owner loses a license.
2. Transfer for value
3. Gift/Bequest For a review of current docs or more information feel free to contact me.

05/05/2023

No matter what you choose as a business owner in how you want to transfer your business, you have to have a plan in place.

Factors I consider:
1. What kind of business is it?
2. Is it closely held? Meaning a small amount of owners, family, etc.
3. Is there a ready buyer or market for the business if the owner wanted to sell?
4. Substantial owner participation? Operations of the business?
5. Will the owner have sufficient income for themselves and/or their family once they sell?
6. Income replacement? Has that been thought about?
7. If transferring to a family member, can that member run the business or ready to run the business?
8. Finding strategies to transform the business value into financial security for the owner

Problems that present when there is a lack of planning :
1. Loss of income
2. Loss of control
3. Loss of business value

Business continuation planning is essential to protect, preserve, and control the outcome.

Some planning options can be:
1. Buy-Sell Agreement- written agreement that provides certainty of a sale at an agreed price. Terms are agreed upon. Surviving owners retain control and mgt of the business. Price/formula for determining price. Make sure it’s funded! What does this protect? Death, disability, bankruptcy, if an owner loses a license.
2. Transfer for value
3. Gift/Bequest For a review of current docs or more information feel free to contact me.

05/04/2023

Ashley Nichols