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Mitlin Financial Inc. - An SEC Registered Investment Advisor - Mitlin Minute

Active Investing

As we had learned about the inner-workings of passive investing in the previous edition, we will now focus our attention on passive management’s counterpart, active investing (active management). Under this type of investment management, managers take a more proactive approach in effort to achieve optimal returns and to outperform the market.

What is active investing and how does it work? This investment strategy uses the human touch to actively manage an investment portfolio. Managers will utilize analytical research, forecasts, as well as their own investment experience, expertise and judgment in an effort to make the best possible investment decisions regarding what securities to buy, sell or hold. Active managers tend to believe that short-term price movements are significant and that these movements can often times be predicted. They are not bound by any single index fund’s performance potential and can deploy a multitude of strategies with the goal of outperforming an investment benchmark index. Some of the strategies used by active fund managers to construct their portfolios include risk arbitrage, short positions, option writing and asset allocation.

Beneficiary Designation Review

Beneficiary designations are an important, yet often overlooked, planning item that should be reviewed on a regular basis. Having the correct, and most up to date, beneficiaries named on your various accounts could mean the difference in having your assets going to the right people or the wrong ones.

Five Biggest Mistakes of New Business Owners

Mistakes of New Business Owners

 

A new business is typically an endeavor that comes with many challenges. Businesses are usually started by people, entrepreneurs, who have come across a great idea or provide an excellent service. This venture entails many working parts and has many risks/rewards. According to the Small Business Association (SBA) Office of Advocacy’s2018 Frequently Asked Questions, eighty percent of small business will survive the first year and about half will survive beyond five years. Only about one third of businesses will survive to celebrate their ten year mark.

Taking a mathematical look at this, these numbers are quite discouraging and one must think why this is the case. In our view, there are five key things that have a tendency to get overlooked by new business owners. Those new business owners that focus on these five areas will have a higher level of long term success for their companies.

  • Not having a plan comes in at number one and is the largest contributor to company failure. Would you ever think about driving cross country to a specific destination without a roadmap or Waze by your side? I think it would be extremely difficult to hop in the car and start driving West (we are located on the East coast) without any tools to guide your trip. Essentially, starting a business without a plan is the same thing. As Benjamin Franklin said, “By failing to prepare, you are preparing to fail.”
  • Having a great advisory team in place is paramount to the success of your business. Your advisory team should include a CPA, attorney, banker, insurance advisor and financial advisor. This would be the bare minimum I would start with on your team. As the business grows in size and success there will be a need to add additional professionals to the team. This core group will be sufficient to ensure you get off to the right start, have people in place to turn to for advice and rely on those that have been successful helping people and companies like yours.
  • You will want to have goals and metrics to benchmark your success against. These metrics may be very different from one company to the next and will change over time as well. The key is to have a direction in place to keep you on track while running the day-to-day of the business. You will want to make sure that you have SMART goals (Specific Measurable Attainable Relevant Time-Based). Using the SMART process will allow you to then break the goals down into bite size pieces to track your progress and success.
  • Being impatient in a new business can be deadly and comes in as one of our biggest mistakes. New business owners have a tendency to think and want things to happen much more quickly than they do, everything takes time. Our optimism and vision will typically allow us to envision the business moving forward far more quickly than it will in reality, and that is fine. Optimism is typically a common trait found embedded in the entrepreneur. This is a new business and it will take time and effort to get the word out there about your product or service. A new business owner will need to be patient and have the ability to wait for their success to arrive.
  • Keeping a cash safety net is key to the success of any business. There are always events that can take place while owning a business and they typically cost money. You will want to make sure that you have a sufficient emergency fund for these instances. Many new business owners find themselves with their back against the wall if a financial event takes place and they do not have a sufficient cash reserve. This may cause the owner to get a loan, borrow money from friends and family, utilize credit cards or even give away significant equity in their growing business for an insignificant amount of capital. Making sure that you have a cash reserve will be paramount to your success.

Beginning a new business is a rewarding experience and can be a life changing event. It is imperative to make sure that you are doing everything in your power to ensure your success. We have included what we believe are the top five mistakes of new business owners and this is by no means and exhaustive list. Having a handle on these items will put you in a position to be far more successful than if you had not addressed them. We encourage you to contact us if you are considering beginning a new business or are already in business, but have questions about where you may be overlooking important concerns. We would be more than happy to have a discussion to see if we can be of assistance and help you towards being one of the businesses that passes the ten year mark!

Feel free to contact us, Mitlin Financial, at (844) 4-MITLIN x12 if you or someone you know needs assistance in this area.

This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Last Minute IRA Contributions: Traditional & Roth IRAs

We at Mitlin Financial hope that you had a healthy and successful 2016. As we move full steam ahead into 2017 and into tax season, we want to make sure that you are all set when it comes to saving for your retirement. Contributing to an Individual Retirement Account, better known as an IRA, can be a powerful retirement saving tool. It is important to understand your time and contribution constraints for making last minute contributions. In addition to the inherent benefits of contributing to your IRA, staying informed of the correct contribution limits and deadlines can be the difference between contributing to your account correctly and incurring unwanted penalties or fees.

Mitlin Minute : Lacing Them Up For The Local Community

In this edition of Mitlin Minute Larry Sprung discusses how he will be lacing up his skates on Saturday, February 9, 2019 to help the local community.  You can help too!

Please help me support the local hockey ????community!
Donate Here:
 
If you are available join us for the game on February 9th at 6:00 PM at Dix Hills Ice Rink with New York Rangers Alumni.
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There has been some confusion by some that I want to clear up, this is NOT a fundraiser for the NY Rangers.
The NY Rangers are using their franchise to help local communities raise money and provide support to their hockey programs. All the monies raised for this event will be used for the community and the kids.
 
The town where I grew up has benefited by raising over $100k between two events for their local hockey programs.
 
If you have questions, just ask, but please support this great event.
 
Again Donations to the event can be made here!
 
Tickets to attend the game are $20 a link to purchase tickets can also be found on my profile page.
 
Proceeds from the game will benefit the Rebels initiation to travel hockey program / Rebels Scholarship Fund and upgrades to the old rink (raised bleachers and seating in the old rink)

 

 Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.  Past performance is not indicitive of future results.

Mitlin Minute Special Edition- Dow 20K

In this Special Edition of Mitlin Minute watch Mitlin's President, Lawrence Sprung, talks about Dow 20,000 and what it means for you.
 

 
Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Mitlin Minute- Happy New Year Edition!

This edition of Mitlin Minute discusses our plans for the upcoming year. We welcome your input and questions to make this even more valuable then it is. There is a reason we have been recognized by CreditDonkey as one of the Best Investing Blogs For 2017.

 
Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Mitlin Minute- Insurance Review

This edition of Mitlin Minute discusses the importance of an insurance review. We highly recommend that you review your policies on a regular basis.  Feel free to contact us for an insurance review or other questions regarding your financial future at (844) 4-MITLIN.

 

Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Mitlin Minute- Passive vs. Active Investing

This edition of Mitlin Minute is the final edition in a three part series on Passive vs. Active investing. This edition discusses Passive vs. Active investing. We highly recommend that you view all three episodes to gain a better understanding of both passive and active investing.

 

 Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Mitlin Minute-Active Investing

This edition of Mitlin Minute is the second in a three part series on Passive vs. Active investing.  This edition discusses Active investing.  Stayed tuned for the final episode which will cover Passive vs. Active investing.

 

 

Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Mitlin Minute-Special Edition-Goals

This special edition of Mitlin Minute was filmed at the top of Cascade Mountain, one of the 46 Peaks in the Adirondacks.
 
We discuss setting and achieving goals.  Financial goals should be addressed as well as personal ones.
 

 
Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Mitlin Minute: "Write Your Financial Future" at RT Booklovers Convention

In this edition of Mitlin Minute we provide you with a replay of our presentation of "Write Your Financial Future" at the RT Booklovers Convention in Atlanta, GA.  This was presented to a group of successful authors in which we discussed what they should be thinking about when trying to write their happily ever after.

  

 Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Mitlin Minute: "Write Your Financial Future" Presentation at RT 2018

In this edition of Mitlin Minute we provide you with a replay of our presentation of "Write Your Financial Future" at the RT Booklovers Convention 2018 in Reno, Nevada.

This was presented to a group of successful authors in which we discussed what they should be thinking about when trying to write their happily ever after.

 

 

Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Mitlin Minute: 5 Credit Card Myths Hurting Your Financial Future

In this edition of Mitlin Minute we discuss my recent article "5 Credit Card Myths Hurting Your Financial Future". 

The article was born from a conversation I had with clients and the myth that led to their parent being denied for a mortgage.   Nasdaq, Yahoo Finance and several other online publications picked up this article and have shared it with their readers, as it is an important topic. 

Be sure to share this Mitlin Minute with your network so they are aware of these myths and how to avoid them.

 

 

 

Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Mitlin Minute: Beneficiary Designation Review

In this edition of Mitlin Minute we discuss beneficiary designations and the importance of reviewing them on a regular basis.
When was the last time you updated or reviewed the beneficiaries on your accounts.  This is something that is often overlooked, but is crucial to review.
 
 

 
 Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Mitlin Minute: Fiduciary Rule

In this edition of Mitlin Minute we discuss the Fiduciary Rule going into effect on June 2, 2017.  How does this or will it affect you?  
Feel free to ask questions on this topic by emailing us or calling us at (844) 4-MITLIN.
 

 
 Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Mitlin Minute: Founder, Lawrence Sprung, CFP® being interviewed at Nasdaq

In this edition of Mitlin Minute we feuture our Founder, Lawrence Sprung, CFP® being interviewed at Nasdaq.

Learn about Mitlin Fianncial's differentiating message and what they are advising clients during these volatile times.

Be sure to share this Mitlin Minute with your network and contact us if you would like any additional information about what is discussed in this Mitlin Minute or you would like to schedule a meeting to see if there is a fit for you and your family.

 Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Mitlin Minute: Get Your Financial House In Order

In this edition of Mitlin Minute we discuss using Summer to get your financial house in order.
Feel free to ask questions on this topic by emailing us or calling us at (844) 4-MITLIN.

 

Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Mitlin Minute: Giving Tuesday and Give Until It Feels Good

In this edition of Mitlin Minute we discuss Giving Tuesday and Giving Until It Feels Good.

Mitlin Financial is charitably inclined and we hope you are too.  Through the Keith Milano Memorial Fund at AFSP we have helped support the Seize The Awkward campaign that is currently being run on Instagram and YouTube.  Make sure you check it out and discuss with your kids.  This Giving Tuesday, we are announcing that we will be taking a table at the Lifesavers Galain NYC this coming May to support the American Foundation for Suicide Prevention.

You can always make a donation to the Keith Milano Memorial Fund at AFSP using this link http://bit.ly/MilanoFund or any other charity of your choice, but Give Boldly.

Be sure to share this Mitlin Minute with your network and contact us if you would like any additional information about what is discussed in this Mitlin Minute.

 

 Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Mitlin Minute: Happy Holidays & New Year!

In this edition of Mitlin Minute we wish everyone a Happy Holiday and Happy New Year from the top of Little Whiteface.

Hoping everyone has an awesome holiday season and  Healthy Happy New Year! 

  Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.  Past performance is not indicitive of future results.