Jan 18, 2021
In episode 328 of Financially Simple, Justin looks at the cashflow state of Businesses in the wake of COVID-19.
2020 was a year that tested many businesses and their ability to weather a financial storm - and many were not adequately prepared. In this episode, Justin explains why cash reserves are important as a means to cover yourself and your business in times of stress, and in the wake of COVID-19.
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TIME INDEX:
00:45 - How Much Cash is Necessary in a COVID World?
01:23 - Are Business Owners Poor Money Managers?
03:46 - Two Main Reasons Why
07:36 - The Reality
08:54 - How Much Cash Do We Need?
12:16 - What About the Alternatives?
13:13 - Cash is Freedom
14:41 - Summary
RESOURCES:
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BIO:
Justin A. Goodbread, CFP®, CEPA,
CVGA, is a nationally recognized financial planner, business
educator, wealth manager, author, speaker, and entrepreneur. He has
20+ years of experience teaching small business owners how to
start, buy, grow, and sell businesses. He is a multi-year recipient
of the Investopedia Top 100 Advisor and 2018 Exit Planning
Institute’s Exit Planner Leader of the Year.
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