You’ve left your job and started a new one or you have finally decided to start your own business. What do you do with the old 401k from your previous employer? 401(k)s and IRAs have many unique features that may be beneficial to you, depending…
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Financial Planning
5 Ways Financial Planning Differs for a Business Owner
A large portion of the financial planning profession, in my observation, is directed at planning for people that have a somewhat defined career path, work a nine to five job, and who are able to contribute money to a 401(k)-plan provided to them by an…
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Five Types of People Who Would Benefit from Financial Planning
“Time is more valuable than money. You can get more money but you cannot get more time” -Jim Rohn “Stand up to your obstacles and do something about them. You will find that they haven’t half the strength you think they have.” -Norman…
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Should I Establish a SEP or SIMPLE IRA for My Small Business?
As a business owner, you may be searching for retirement plan options that benefit both you and your employees… all while avoiding burdensome costs and administrative complexity. If you’ve been considering 401(k)’s, you will first want to check out my post Should I Set Up…
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How Much is My Business Worth?
In my 20 years in financial services, I have spoken to hundreds, perhaps even thousands of business owners. In many of those scenarios the business was the single largest asset in their financial plan. Many of those owners could not give me an accurate number…
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Should I Set Up A Traditional 401(k) For My Business?
Business owners who are considering a retirement plan for their business have many options. While a traditional 401(k) is a well-known choice for business owners, there are many cases where other retirement plan options may be better suited for the business and the owner. We…
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Can You Make a Deductible Traditional IRA Contribution?
Oftentimes, I have many clients come to me and ask, “Can I make a deductible Traditional IRA contribution?” Since this is a common question, I decided to tackle it in this week’s blog post. The following will provide you insights on whether you can or cannot make…
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Which Financial Path is Right for You?
If I were to ask you, “Which strategy is best for your financial plan?” Would you know the answer? Would you think that there is just one right answer that made sense for everybody? Oftentimes when I read financial articles on the internet, I will see the…
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Should I Contribute to My Roth 401k
I’m going to walk through a quick process that I use to help our clients understand whether or not they should contribute to a Roth 401k. Step 1: Do you expect your future effective tax rates to be the same or higher than the current rates? If the answer is…
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Little Known Facts About Planning for your Future
There is a belief that we should know exactly how to plan out our finances for the future. We should know exactly what it’s going to take to be able to pay for the lifestyle that we want in retirement. A retirement that now likely lasts into our…
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