There are many reasons to buy life insurance. It’s fundamental and indispensable to any sound financial plan. It will pay off a mortgage, replace lost income, or cover your children’s college tuition. It can replace a spouse’s income, pay off debt business debt, buy out a business partner, pay off estate taxes, and more.
When it comes to financial planning and investing, you no doubt want to get the best bang for your buck. You want the highest returns at the lowest cost. This is one of the ways you’ll be able to grow your nest egg and save enough for retirement.
For most companies, a 401K plan is a vehicle to help employees save for retirement. That’s not all it can be doing, though. In fact, your company 401K can help employees save for another expensive life event: College.
Business owners are always looking for ways to add to their bottom line. If you haven’t looked at your benefits plans and service providers lately, now’s the time. You might discover that there are some easy ways to save. The following 6 options are no-brainers for any business.
Managing your income while you're still working is a challenge in itself, so it can be quite daunting to start preparing for retirement. Portfolio management is extremely complex, and your employees need the guidance of a trusted professional to reach their retirement goals.
You want the best for your kids and that includes helping them get a great education. Today’s competitive workforce practically demands a degree, and many parents want to ensure their children get a leg up on the competition by sending them to a prestigious institution or assisting them financially so they can focus on their studies. That often means parents end up paying for all or most of their children’s college education—an expensive proposition in this day and age, one that can run upwards of $200,000. Even if you tabbed education funds in your financial planning when the kids were young, you might worry that you’ll still fall short. If that’s the case, consider these three financial planning strategies to help your kids (and you) achieve their goals—without incurring serious debt or mortgaging your retirement.
Early and ongoing financial planning is critical to ensuring that business owners like yourself can maximize your business sale value, minimize taxes, and take advantage of all available financial opportunities now and in the future.