Whether you are a business owner or employed, you will need to retire at some point. As a small business owner with employees, you are also responsible for setting up a retirement plan for yourself and your employees. A defined benefit plan allows small business owners an avenue to save more money for retirement than […]
Retirement
Have You Given Enough Thought to Succession Planning?
If you run a business, then you’ve spent years – likely decades – carefully nurturing it through the many trials and tribulations that come with modern business. It is, quite literally, your life’s work, so naturally as you start to look towards retirement the question of what happens to the business once you’re travelling the […]
6 Ways Entrepreneurs Can Save for Retirement
Retirement is what most entrepreneurs look forward to reaching later in life. Yet, a retirement plan does not materialize on its own as it requires taking several actions. Entrepreneurs need to look into retirement options, planning, and money-saving. Selecting a retirement plan and deciding on the size of the nest egg will not be the […]
5 Ways to Double Your Money Before You Retire
Everyone hopes to have a pleasant and peaceful retirement. But planning for your retirement can be the most confusing part. Unfortunately, it’s not a challenge many people can handle. Whether you’ve just secured a job or you’re about to retire, you can still double your money. Finance experts will tell you that doubling your savings […]
How Stock Investing Apps Can Help You Plan For Retirement
When planning for your retirement, you’ve got to have more than just a savings account. While the bank often has stable savings accounts options, the growth of your money may be slow. It can only safely be considered as a secure place to put in your hard-earned money. This is where investing in the stock […]
Retirement vs. Reinvestment: How Should Business Owners Plan for the Future?
When you’re a business owner, you — and only you — are responsible for your financial future. As you grow your business, it can be difficult to tell whether you should save any extra funds for your retirement or reinvest them into your business. Although strong cases can be made for both sides, consider making […]
Not Ready to Retire? Consider Franchising
For many of us, we spend years looking forward to retirement only to discover that it only takes a few weeks to do all of our projects around the house and get sick of daytime television. So, what’s next after retirement? It could be franchising. Franchising can be a great alternative to retiring because there […]
The CARES Act and Early Retirement Withdrawals
The Coronavirus Aid, Relief, and Economic Security Act, Pub. L. No. 116-136 (CARES Act), provides relief to eligible individuals taking withdrawals or loans from qualified employer retirement plans and Individual Retirement Arrangements (IRAs). Coronavirus-related withdrawals and loans Individuals may be eligible for coronavirus-related relief on withdrawals from qualified employer retirement plans or IRAs and on […]
4 Basics of 401(k) Plans Employees Need to Know
401(k) plans have become the most popular form of employer-sponsored retirement saving. Pensions have slowly dwindled in usage, making 401(k)s the most dominant way to save. These plans are highly prosperous as there are benefits for both employers and employees. If done well, each party will save money on taxes. However, the possibility that the […]
The Self-Employed: The Vision and Preparation for Retirement
The self-employed community plays a pivotal role in the economies of nations. The changing patterns of employment have changed how people work and how they save, invest, and prepare for their retirement. Growth of the Self-Employed Economy The self-employed economy, including freelancers, contractors, small business owners, and sole proprietors, is growing fast, especially in the […]
