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
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 […]
5 Hints It Might Be Time to Sell Your Business
After putting the time, effort and money into opening your business, selling it can be a difficult decision to make. And yet, every year, thousands of the 30.7 million businesses in the U.S. are sold. For some business owners, selling can pave the way to new opportunities or a decrease in stress. Others, like the […]
Offering Retirement Plans for Your Employees
The number of small businesses operating in the US is growing fast. Small businesses employ 47.5% of American private-sector workers, and that number keeps increasing as more people move away from corporate life. Although small businesses are popping up on every corner, they still face challenges from tight budgets and sparse resources. With that comes the need […]
Tax Deductions for Small Business Owners
If you own a small business, you know that every dollar can be important to the success of your business. One way to improve your odds for success is to make sure that you are taking all the tax deductions you’re entitled to. Especially if you’re just starting your business, you will want to claim […]
The Types of Small Business Retirement Plans
Small business retirement plans come in a number of different shapes and sizes. Some are easy to set up and use, while others offer scalability and flexibility. Whether you’re a sole proprietor or have hundreds of employees, there’s a retirement plan to suit your specific needs. Here are the four main types: Self-employed 401(k) If […]
