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The Financial Literacy Basics Entrepreneurs Need to Know
Opinions expressed by Entrepreneur contributors are their own. Like most of you, I grew up with virtually no formal training on money. I learned that we definitely need money to get the things we want and one way or another, we have to work for it. Short of getting my passbook savings account back in the ’80s, I was taught very little about how to be financially literate. What happened? I got a job, paid bills, saved a little (but not really) — and then, when I got to college, I went into credit card debt in exchange for a free T-shirt. By not getting the proper education on money,…
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Cash balance plans help older entrepreneurs boost their retirement savings
Cash balance plans are not well known among the advisor community — but they should be. These excellent vehicles help business-owner clients catch up on retirement savings, realize tax benefits and strengthen the client-advisor relationship in the process. Ross K. Brown is vice president of business development at Payden & Rygel, a global asset management firm. Take the hypothetical case of Theresa who, at 53, leads a successful OB-GYN practice but has barely saved enough for what she feels will be a comfortable and secure retirement. With roughly $100,000 in retirement savings, she is starting to wonder if she’ll have to work forever. A cash balance plan can accelerate the…
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How Entrepreneurs Can Find Financial Advisors Near You
financial advisor for business owners Running a small business or staying self-employed can current some exclusive monetary difficulties. At some level, you may start out to marvel if it would make perception to use a economical advisor. An advisor can assist you develop a activity system for managing funds while conserving you time so you can focus on other points. If you’re leaning towards receiving skilled suggestions, it can help to work with a economic advisor for entrepreneurs. Do Business owners Want a Monetary Advisor? Business owners don’t necessarily require a economic advisor, but there are some persuasive factors to consider employing one. Based on exactly where you are in…
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