John Kim of Syncis - How to Renovate Your Finances

When John Kim co-founded Syncis, he and his partner sought to renovate the financial services industry by means of providing friendly, pressure-free aid to middle-income families and business people. Today, as a result of his hard work with Syncis, thousands are able to improve their financial situations, securing better futures. If your finances are lacking, you might need to employ methods like those listed below to get your future back on track…

• Make a Cushion — A cash cushion, or an emergency fund, is necessary if you wish to reach financial security. It isn’t enough to just have a thousand dollars in your savings account before you begin investing or otherwise spending your extra income. Ideally, you should have enough saved to support you for several months if you become unemployed. This will ensure that you have reserves to pull on when you need to, and that you can otherwise confidently place your money into whatever assets you would like.
• Live on Less — Reducing your living costs will allow you to save and invest more, improving your overall life. Whether it’s eliminating your usual coffee shop visits or taking a staycation instead of a pricey vacation, efforts to live on less almost always pay off. Examine all of your expenses to get an idea of where you can cut back, and then do it. Don’t forget that you can, for example, renegotiate your car insurance rate or switch to a budget phone plan.

Fixing your finances alone is never easy, and that’s why professionals like John Kim’s Syncis associates offer consultations to all who need a place to start. Unless you’re a pro yourself, you might benefit from such a meeting.

John Kim of Syncis - Building A Successful Organization

John Kim of Syncis got into the financial services industry because of an act of God. In 1994 he was operating a successful auto parts business in the Los Angeles area when the region was hit by a 6.7 earthquake.

That event, the infamous Northridge earthquake, caused widespread damage throughout the San Fernando Valley, a densely populated area northwest of downtown L.A. Fifty-seven people lost their lives in the quake, and property damage was extensive; as it turned out, the Northridge earthquake was the costliest in U.S. history.

All told, damages were estimated at more than twenty billion dollars. That included the damage done to John Kim’s parts warehouse; most of the company’s inventory was lost. Then things went from bad to worse: “Did not know at the time that insurance coverage was not adequate and that damaged inventory would eventually shut down the business,” he recalls.

Forced to start over from scratch, John Kim of Syncis had to find and pursue other opportunities. Before long he was introduced to the financial services industry, and began to study it closely to see if he could make a go of it. “Spent the next two years studying for securities exams and obtaining licenses to provide financial services.”

He found work in financial services in 1997, and for the next ten years built a large and successful sales organization. His team was good enough to win many awards and other recognition. Along the way he accumulated thousands of clients and began mentoring others, who went on to become six figure earners.

In spite of his financial success, John Kim of Syncis grew dissatisfied with the way large financial service organizations operated, so he left to establish a new business. “Syncis was established in 2009 in partnership with Les Schlais,” John Kim says today. It has grown into one of the top financial marketing organizations in the United States, making financial products and services more accessible to middle-income families.

What sets Syncis apart from other financial services companies is the commitment to helping individuals, families and business owners understand basic financial concepts. Their goal from the start, John Kim says, “was to create a business that was focused on establishing a relationship with clients and fostering understanding before anything else. This background is the reason why Syncis associates are encouraged to never sell anything or close a deal before meeting with the individuals/families multiple times. This process is meant to make sure they trust the representative and understand the products.” This commitment is reflected in the company’s motto: “strengthening families with trust and understanding.”

Syncis associates, says John Kim Syncis, understand that many of their clients are overwhelmed by the complexity of financial service products. That is why they are encouraged not to sell anything when they first meet with a new client. That way, the client is able to make his or her own assessment of their own situation and make an informed decision, without any sales pressure.

John Kim of Syncis - Essential Financial Concepts

John Kim, Co-Founder and Co-Chairman of Syncis, is a seasoned financial professional who has helped to enrich the lives of others through his company for several years. Though the pros are financially savvy, most people do not have a thorough understanding of essential monetary concepts. Even if it doesn’t seem important to you now, understanding concepts like those below will help you secure a solid future…

Risk tolerance is the concept of your comfort with the inevitable ups and downs of the financial market. There’s a rollercoaster cycle that causes the market to swing from high to low and back again, and if you allow those swings to stress you, you have a low risk tolerance. It isn’t all emotions, though; risk tolerance also refers to how much time you have to invest, your uninvested assets and your income potential. Most banks provide tools to help you get an understanding of your risk tolerance, or you can get a more personal assessment by speaking with a professional. 

Asset allocation refers to where the majority of your money is located or invested. The ideal asset allocation varies by individual needs such as necessary liquidity, goal timing and earning potential. As a topic decided largely by opinion, it is difficult to find one solid view of the best asset allocation for your situation. 

Diversification goes hand-in-hand with asset allocation. The goal of diversifying your money is to prevent disaster if one branch of your net worth plummets. It keeps your financial standing balanced, and it prevents too much risk from accumulating. Regular diversification isn’t all good, as it sometimes means selling well-performing assets, but it is considered a must-do by most investors. 

Interest is often used in a negative context, referring to the percentage that a lender charges a borrower for the duration of an outstanding balance. When used in a positive context, though, it refers to your money working for you. For example, when you put money in your savings account, you’re allowing your bank to borrow your money, and as such, the bank pays you a small dividend each month based on the amount saved. If you are in debt, the interest you accrue while you pay back the money is almost always more than the interest that you would gain from investing. It is for this reason that financial advisors often recommend debt repayment before you begin investing your funds. 

Whether you work with John Kim’s Syncis associates or you educate yourself, if you’re lacking in financial knowledge, now is the time to amend that. The better you understand your money, the more it can work for you (and the less you’ll have to work throughout your lifetime.)