You dont need a parachute to skydive; you only need a parachute if you plan to skydive twice. Likewise, you dont need a good financial plan, you only need a good one if you plan to keep your wealth.Saving for wealth

Wall Street can create statistical white noise that makes everything so complicated, when in reality, wealth management is very simple ? its so simple as to be almost boring. Let me be clear, it isnt easy, but its simple.

My job can resemble a broken record because good advice doesnt change. Dont pay fixed bills with variable money, establish your perpetual cash flow stream, and create a healthy break glass in emergency stash that can greatly reduce the stress of unexpected financial hiccups. Once this is done, you can enjoy the ride because you have the tools to survive and skydive another day.

Read more from Rusty Holcombe on the Holcombe Financial Blog.

Top 5 Behaviors for Executive Leaders in the 21st Century

Todays world presents new challenges for modern leaders, and certain behaviors are becoming more important to excel at if you want to succeed.

First, managers and leaders are not the same thing. Managers do well at the business side of things, and leaders do too?yet, leaders must also excel in areas beyond the ability to get basic business things accomplished.Top Executive Management Principles

The following five areas of behavior are not the only skills executive leaders should seek to improve, but they ones that are important, particularly in todays world.

For an executive leader, reflection may be the most important area, according to an AchieveGlobal study, which had a goal of developing a comprehensive model articulating key areas of focus for 21st-century leaders. ?A leaders ability to successfully navigate continually changing, uncertain waters requires continual reflection and improvement. ?Leaders demonstrate the ability to reflect by having the ability to:

  • Ask themselves how they can become better.
  • Act with the self-confidence to experience new behaviors.

Read more on the Executive Velocity website.

Author: Beth Armknecht Miller, President and Executive Coach, Executive Velocity Inc

Management Principle: Relationships

In life, we end up trying to manage bad behavior in others through rules and discipline rather than simply encouraging good behavior through incentives.

I’ve thought long and hard about relationships at work. I find people’s beliefs about this subject to be intriguing. In life, we end up trying to manage bad behavior in others through rules and discipline rather than simply encouraging good behavior through incentives. It’s like swatting a dog when he pees on the carpet rather than giving him a biscuit when he sits by the door. Having right relationships should be our supreme goal in life. There are different types of relationships in the work setting: manager, peer, vendor, direct reports, etc. And, each relationship has a specific context that creates a unique way of relating. Some people hesitate to engage in friendships at work as they believe it confuses the managerial role. If one’s view of friendship means being nice, never confronting, and maintaining peace at all costs, then perhaps it’s true. If friendship rather means clear communication, speaking the truth in love, and disagreeing when necessary to maintain unity and alignment, then this is transferrable. Relationship defined is an expression of human connection that can look different depending on role, without having artificial constraints. Just because someone is married doesn’t mean they can’t have wholesome relationships with other members of the opposite sex. All business-related relationships should be characterized by love (willing the highest good for another), compassion (even when discipline is required), communication (speaking openly and directly), to be wholesome, fruitful, and productive. Humans have the same needs regardless of the context. Old-school thinking that blocks out friendship at work is missing the mark.

Coaching questions: How would you characterize your relationships at work? How might you bring more humanity into the equation?

Read more coaching principles from Dean Harbry on the Internal Innovations website.