Submitted by Rick Kahler on Fri, 09/19/2014 - 3:00pm
What happens to your business when you retire? Whether you pass it on to your child or sell it to support your retirement, you need a succession plan.
Building a small business is somewhat like being a parent. You start with an infant enterprise that needs constant attention and often deprives you of sleep. You foster it through various stages of growth, including some rocky times, and help it stand on its own. Eventually, you may rely on it to carry on your legacy and take care of you financially.
Submitted by Jim Blankenship on Fri, 09/19/2014 - 12:00pm
Many people file for Social Security right at retirement and soon see a statement showing potential benefits at various stages of life. What if you don’t file at age 62 or 66? Here’s the math to compute your monthly benefit no matter when you file.
Submitted by Lewis J. Walker on Fri, 09/19/2014 - 9:00am
Simplicity is the biggest advantages of target date funds. But simpler is not better. Many of these funds, designed to grow more conservative as investors age, still are too risky. And too often, they fall short as a financial planning tool because they don’t take into account individuals’ needs.
Submitted by Tom Orecchio on Thu, 09/18/2014 - 3:00pm
Retirement takes a lot of planning and decades of preparation. You’ve gathered assets, set up a home and perhaps raised children. Now is the time to enjoy all you have achieved. But as you move from the world of work into retirement, here are 10 key steps to take first.
1. Prepare a budget that takes into consideration typical monthly costs and your plan for big potential expenses (e.g., travel, home renovations, moving).
Submitted by Sophia Bera on Mon, 09/15/2014 - 12:00pm
If you’re like most young adults, you juggle many financial priorities at once. With only so much cash to go around each month, how do you know what to put at the top of your money list? Should you build a nest egg or pay off debt?
Most personal financial advice focuses on one or the other but doesn’t explain how to decide if you want to accomplish both. Here’s what to consider:
Take stock of your savings. The size of your savings plays a big role in deciding whether to sock away more or whittle your debt.
Submitted by Josh Patrick on Tue, 09/09/2014 - 12:00pm
I spend a lot of time helping people make financial choices, sometimes about business and sometimes about personal life. In both cases and in many more, breaking huge issues and questions into smaller choices makes problems much easier to manage.