Lucas Bicknell

What is BUSINESS CREDIT and does it matter?

is the ability to buy something now and pay for it later as a company. When your credit is properly established, it is much easier to get money when you need it most.

Of course, lenders check your credit for loans, but your business credit can be checked by other groups too.

🤝 Vendors check business credit to approve a large order of product or to establish repayment terms

🧐 The large companies you're pitching to land as a client or partner are checking your business credit to make sure your business is reliable and able to provide the products or services you're offering

📤 If you're getting shut out of deals due to lack of credit, it is likely because the companies you are working with aren’t reporting. You can always ask them to report on your behalf, but it’s voluntary and no guarantee.

💳 Once you have business credit established, make sure you are paying your bills on time every month to keep building a positive credit reputation. A negative payment report can stay on your record for up to three years.

What measures are you taking to keep up with your business credit?

For the sake of this poll, let’s not only think about bank accounts, but investment accounts, high yield savings accounts, cash value accounts, and even your crypto trading accounts...

There are countless places to “save” your money. How many accounts are you currently saving in?

VOTE with the reactions 🗳 and let me hear any thoughts you have in the COMMENTS

What’s going on with Evergrande?”
Man, if I had a dollar for every time someone has asked me that since last week, I’d take y’all all out to dinner 💰

For those who follow international markets, you know what I’m talking about.

For those wanting a quick overview, here’s my version:

Evergrande is part of the Global 500 and is one of China’s largest companies. While it’s primary interests are in real estate development, it expands into many industries with over 1300 projects across China including electric vehicles, sports, theme parks, food, and more.

Bottom line, if it went belly-up, it would likely cause some major market shifts.

🤷🏻‍♂️ So what?

Evergrande is also one of the most indebted companies in the world.

Their credit rating has been downgraded and they've lost almost 85% of their stock value this year. They’re in danger of missing (more) interest payments and there’s still no answer as to why they froze all trading last week.

“Cliffhanger... So what does this mean for me?”

For those of you who keep up with the markets like an 80s housewife with her soap operas, Evergrande is the latest character to take a headline role.

For those who have other things to take care of, that’s why portfolio diversification is key. The only thing guaranteed about the market is that it will go up and it will go down.

You should position yourself to take advantage of the ups and the downs. Downs are only bad if you didn’t prepare.

⬇ Drop your thoughts on Evergrande here ⬇

🏈 Back in the day, I played defense on my high school football team. Coaches have a lasting impression on kids at that age. Coach would always say to us:

“A good defense bends, not breaks.”

That stuck with me.

You have to be flexible, adaptable and intentional with how we play the game— whether it’s the game of football or the game of life.

It takes an offense AND a defense to achieve the win (and a reliable special teams). Think of your financial plan in the same way.

🏈 Offense = growth strategies (such as investments)

🏈 Defense = protection strategies (such as insurance)

🏈 Special teams = safe money strategies (such as cash reserves)

You can have an amazing offense, but if your defense doesn’t keep the other team from scoring on you, there’s only so much an offense can do alone. Especially if they get tired from being overplayed.

A solid financial plan bends, not breaks— its trains your money to adapt to the constantly evolving world we live in.

Taking the time to train your defense is just as important as training your offense, especially if your sights are set on making it all the way to the Championship 🏆

It’s 📆

When it comes to life insurance, which one are you?
⬇ Give me your vote below ⬇

When you leave a job, you're probably not thinking about your benefits or retirement plan.

But you should.

My planning process is like a treasure hunt. One of the most common treasures we uncover are old 401(k)s.

Today’s is , so let’s use the opportunity to refresh ourselves on what to do with old 401(k)s.

💰 You could leave the where it is. But be sure you do your research into the fees and options available to you. Chances are you can get a better arrangement elsewhere.

💰 You can roll it over into your new employers retirement plan. Assuming they accept incoming transfers.

💰 For those wanting a bit more control over their investments, you can rollover the money into an IRA.

💰 For those needing the cash and willing to take a hit on the value, you can cash out, and pay the penalties and taxes.

IMPORTANT NOTE: Before leaving your job, it’s smart to check your vesting schedule— nothing worse than leaving your job a few days before you’re fully vested...

⬇ Message me or comment with questions! ⬇

I’m here to help.

Guidance about your financial plan should not be hard to find.

My goal for this platform is to be a helpful resource. I have been where you are and I want to help you find financial freedom. There is a lot of noise out there, I want to be the voice of advice and reason.

Let’s start a conversation – it's free!

📧 [email protected]

Which one are you?

🏢 The Federal Reserve announced that it is keeping the benchmark interest rate near zero.

Understanding that this low-interest rate environment may not last, here are some things you should take advantage of while we're low -

🏡 Refinance your mortgage or use a home equity loan to free up cash in your budget.

⚡ Use a personal loan to consolidate high-interest credit card debt.

🎓 Student loan payments are interest-free through September, so every dollar goes to the balance.

💵 On the downside - saving is difficult in a low rate environment. Cash savings are making next to nothing in CDs and savings accounts.

📉 Rate hikes could come as soon as 2023. Let's work on optimizing your plans before these low rate policies disappear.

What else should the low interest rate environment have you considering?