The Long Game

In this episode, I walk through how to effectively manage your monthly income & expenses when you're paid in equity (or receive bonus income). Some highlights:Understanding RSUs: How they work, including vesting schedules and tax implicationsThe Full Picture: Understanding your total income, expenses, and tax liabilities, so you can make smart decisions about your investments and savingsGet actionable steps to manage your tax liabilities and ensure you’re not over-concentrated in company stock. Learn how to balance your cash flow and maximize your savings through 401(k)s, ESPPs, and HSAs.---------✅ Financial planning for 30-50 year old entrepreneurs: ⁠https://www.allstreetwealth.com⁠✅ My personal blog & newsletter: ⁠https://www.thomaskopelman.com⁠Disclaimer: None of this should be seen as financial advice. It is just for informational purposes.

Whether you’re newlyweds or have been together for years, navigating money matters can be challenging, especially when you start blending incomes, expenses, and financial goals.In this episode, I discuss three effective systems for managing finances in a marriage:Entirely Combined: The traditional approach where both partners share everything—income, expenses, savings, and investments. I share why this method often leads to stronger partnerships and better financial outcomes.Half and Half: A balanced approach where couples maintain a shared account for bills while also having individual accounts for personal spending. This method allows for autonomy while still working towards common financial goals.All Separate: While I don’t recommend this for everyone, I explore how some couples, especially those who marry later in life, find success in managing their finances separately.---------✅ Financial planning for 30-50 year old entrepreneurs: ⁠https://www.allstreetwealth.com⁠✅ My personal blog & newsletter: ⁠https://www.thomaskopelman.com⁠Disclaimer: None of this should be seen as financial advice. It is just for informational purposes.

In this episode, I discuss why having cash on the sidelines is your best friend, especially in uncertain times. I also share a powerful quote from Morgan Housel that resonates with me: "More than I want big returns, I want to be financially unbreakable." This mindset is key to understanding the true value of an emergency fund. Some highlights from the episode:The importance of having an emergency fund to avoid selling investments at a loss during market downturnsHow much you should keep in your emergency fund based on your personal risk tolerance and life circumstancesPractical steps to determine the right amount for you, whether it's three months, six months, or even up to twelve months of expensesWhere to hold your emergency fund to maximize your returns without sacrificing liquidity---------✅ Financial planning for 30-50 year old entrepreneurs:⁠https://www.allstreetwealth.com⁠✅ My personal blog & newsletter:⁠https://www.thomaskopelman.com⁠Disclaimer: None of this should be seen as financial advice. It is just for informational purposes.

Discover the complexities of preparing for a comfortable retirement and work-optional life. Learn about the 4% rule for retirement spending and the pivotal role of social security. Find out why solely depending on software for financial planning could lead you astray. Understand the importance of committing a percentage of your income to investments for long-term success, and the need for personal accountability in your financial journey.

Struggling with your finances? Start by clarifying your short-term, mid-term, and long-term goals to guide your journey. Discover the four essential metrics for effective cash flow management: income, expenses, taxes, and surplus. Learn how to accurately assess your spending habits and understand your tax liabilities. Tailored budgeting strategies for various income levels help simplify the process. Automation tools can enhance your saving efforts, making financial discipline much more manageable.

Too often, business owners reinvest every dollar back into their business. To help you understand the importance of retirement and the options available to you, this episode breaks down various retirement accounts, including: Solo 401k: My personal favorite! Learn how this account can maximize your contributions and provide incredible tax advantages. SEP IRA: Understand when this option might make sense and the limitations that come with it. Regular 401k: Discover how to set up a plan that benefits both you and your employees while avoiding compliance issues. Simple IRA: Is it really a good choice? I share my thoughts on why it may not be the best option for most business owners. Additionally, I touch on the differences between Roth and traditional IRAs, helping you make informed decisions about your tax strategy. ---------- ✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com ✅ My personal blog & newsletter: https://www.thomaskopelman.com Disclaimer: None of this should be seen as financial advice. It is just for informational purposes.

Breaking down the differences between tax planning for W-2 employees and business owners while highlighting the complexities that come with owning a business. Some of the topics covered: - Understanding the difference between withholding and actual tax liability - The concept of safe harbor and how to avoid penalties - Strategies for planning your taxes effectively, whether you're a sole proprietor or in a partnership - The importance of projecting your business's financials throughout the year to avoid cash flow issues ---------- ✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com ✅ My personal blog & newsletter: https://www.thomaskopelman.com Disclaimer: None of this should be seen as financial advice. It is just for informational purposes.

Many entrepreneurs start off by simply transferring money from their business to their personal accounts without a solid plan, leading to financial stress when income becomes irregular. In this episode you'll learn: - The importance of creating a "pay account" to manage your personal and business finances effectively. - Strategies for planning your living expenses and saving for lean months. - Key differences between operating as a sole proprietor versus an S-Corp, especially regarding tax planning and payroll. - How to avoid common pitfalls like underestimating your tax liabilities and incurring penalties. - The significance of building an emergency fund tailored to your business needs. ---------- ✅ Financial planning for 30-50 year old entrepreneurs: https://www.allstreetwealth.com ✅ My personal blog & newsletter: https://www.thomaskopelman.com Disclaimer: None of this should be seen as financial advice. It is just for informational purposes.

As the year wraps up, there's gratitude for the loyal listeners and a big shift on the horizon. The podcast will now feature solo discussions focused on structured financial planning. Topics will include business strategy, hiring, cash management, and investing. Expect concise segments ranging from 10 to 20 minutes, making it easy to grasp crucial financial concepts. This new direction promises valuable insights for entrepreneurs aged 30 to 50.

The hosts reflect on their experiences with clients and the broader implications of financial knowledge. They discuss how personal values influence financial success and the balance between profit-taking and reinvestment. The conversation shifts to the entrepreneurial mindset, emphasizing cash flow and sustainable hiring practices. Bridging business achievements with financial literacy reveals common pitfalls among entrepreneurs, stressing the need for simple investment strategies. The importance of financial education is underscored, encouraging listeners to seek clarity for better financial decision-making.