Business

Overcoming challenges is part of the success

Published

2 years ago

November 14, 2022

Theresa Forster, a social media influencer and model from Germany, is living out her dream, but she is the first to acknowledge that challenges must be overcome in order to succeed.

Accepting that certain people are too judgmental of those in her profession was one of the obstacles she claimed she had to learn to overcome: “People should stop criticizing every single thing we do and learn to let us live life the way we want,” she said. “We are simply human beings with feelings.” According to Forster, it is often difficult to be constantly examined by the public and to not feel like a target all the time. “Having to constantly defend ourselves is very exhausting.”, she said.

She noticed that she had learnt to move past her regrets regarding her career: “I should have started earlier. I always followed the advice of those around me when I first started out, and they made fun of me. Even my parents did.”, she affirmed. “They just didn’t take me seriously, so it took me a lot of time to get things moving. But from the day I started, I became successful very fast.” Attempting to change people’s perceptions about those in her industry, has been another issue for her. Some people behave this way because they think her work field is easy.
“It is not all about snapping pictures, receiving gifts, and looking pretty. If you want to succeed in this profession, there is much more to do.”, she remarked.

“Generally, clients pay us based on the number of views and reach we generate, so we need to get those figures every day. That is difficult and can put a lot of pressure on you.”, she said that in addition to the daily competition influencers face, it is a constant challenge to add value to the lives of her followers. Otherwise, she warned: “People would get tired of you and soon forget about you. This work therefore comes with a lot of psychological pressure.” Like everyone else, influencers experience periods of excitement and interest in daily life that eventually fade. In other words, great stuff doesn’t necessarily come along every day but however, Forster points out that it is her job to sometimes create something out of nothing.

“It is completely normal to move through life phases and their ups and downs. Sometimes you need some time to rest, and you just feel like lying in bed or sometimes you just don’t feel well, but there cannot be any days off if Instagram is your primary source of income and you take it seriously. You push yourself in order to move forward.”

In her opinion these are the reasons many influencers turn to fake drama and telling lies to produce engaging content. However, she discovered more truthful and creative ways to get her content out there: “For some in this industry, fake publicity is better than no publicity. But not for me. If you want to remain successful in this game, you have to think in the long term. And that doesn ́t mean to cause drama every day but creating content which adds true value to people’s lives” she said.

Business

Retire Smart, Save More: How MDRN’s Virtual Planning Model Can Slash Retirement Costs

Published

2 days ago

October 8, 2024

Rosario Farell

The media is calling it a “retirement crisis.” Millions of Americans are arriving at retirement age woefully unprepared.

Some studies suggest that 45 percent of the Baby Boomers have no retirement savings, while 28 percent of those who have started saving have less than $100,000 put away. Consequently, many Americans now living in retirement or approaching that season are looking for ways to cut back on their expenses.

Aaron Cirksena, founder and CEO of MDRN Capital, has a solution for those looking to retire smart and save more. His firm’s completely virtual model increases retirees’ spending power by decreasing the fees associated with retirement planning.

“Our unique approach to providing retirement planning services allows our clients to experience significant savings when compared with the traditional model of investment management and retirement planning,” Cirksena shares. “When we did away with the overhead expenses that stem from operating a brick-and-mortar office, we were able to create a fee solution for our clients that is lower than the typical advisor. On average, our fees on the entire client portfolio tend to run 30 to 40 percent lower than the typical advisor operating under a conventional model. Additionally, we can provide services like estate planning, tax planning, and tax preparation at no additional cost.”

MDRN Capital is revolutionizing retirement planning by offering a comprehensive range of services, including income planning, investment management, tax planning, healthcare, and estate planning, in a setting that exceeds the efficiency and effectiveness traditional providers are able to offer. Unlike traditional firms, MDRN Capital leverages the power of digital tools to deliver comprehensive services without the need for in-person meetings, allowing clients to enjoy their retirement while their financial needs are expertly managed.

“My goal with MDRN Capital was creating a completely virtual firm that could more efficiently provide the convenience clients wanted while also meeting their ongoing investment needs,” Cirksena shares. “MDRN Capital’s virtual model empowers an environment in which we could serve our clients with less costs to the firm and pass the savings on to them.”

Financial planning for the new normal

MDRN Capital’s innovative approach to retirement advising emerged as a result of Cirksena’s experience during the COVID-19 pandemic. Due to social distancing, advising during the pandemic shifted to virtual appointments. When social distancing was no longer necessary, Cirksena expected his clients would resume their pre-pandemic patterns. He was wrong.

“My clients let me know they preferred the comfort and convenience of virtual meetings to the hassles associated with having in-office meetings,” Cirksena says. “They didn’t miss sitting in traffic and searching for parking spaces, and I couldn’t blame them. Even the clients who lived only a few minutes away decided they would rather meet via Zoom than have a face-to-face meeting in our nice Class-A office space.”

MDRN Capital was designed to meet the client expectations that emerged during Covid. By leveraging technology to take his services to his clients rather than expecting them to come to him, Cirksena made advising more convenient and more cost-effective at the same time.

Financial savings for struggling retirees

Recent studies show the high inflation the US has been experiencing has a larger than average impact on many retirees. In response, many are looking to tighten their belts by cutting back on spending, but reducing the fees associated with retirement accounts is something few consider.

“For retirees, lower gas and grocery costs are certainly helpful,” Cirksena says. “However, cutting their investment management costs in half puts dramatically more money in their pocket over time than lower prices on goods ever could.”

To understand the impact MDRN Capital’s approach can have on retirees, consider that $250,000 earning seven percent over 20 years will grow to $967,421.12. Factor in a 1 percent fee, and growth is limited to $801,783.87, but raising the fee to 2 percent causes earnings to fall to $721,034.70.

Cirksena points to his industry’s failure to embrace modern technology as one reason why investment fees remain high.

“Unlike many industries that have used and adopted technology for decades to help lower costs and make services more efficient, the financial services sector has lagged behind,” he explains. “Many firms continue to incur unnecessary overhead and expenses, which their clients pay for in the form of elevated fees.”

The virtual investment environment Cirksena has created moves retirement planning into the future. It provides a financial service experience that is convenient, comfortable, and efficient while also ensuring that none of its clients’ investment potential is wasted on unnece