Archive - June 21, 2013

1
What Is The Best Retirement Plan For Your Small Business?
2
Not Getting Married? Cohabitation Still Requires Financial Planning
3
Don’t Just Walk By That Dime On The Ground!

What Is The Best Retirement Plan For Your Small Business?

Self-employed people have several special retirement plans from which to choose, including a Simplified Employee Pension (SEP), a Keogh, a SIMPLE, or an individual 401(k). All of the plans allow you to deduct your contributions from your income, and the money grows tax deferred in retirement.

SEP-IRA

The SEP is designed for self-employed individuals and small business owners, typically with 25 employees or less.

SEPs work well for family-run businesses. All must be given the same match. Once you hire outside of the family, it begins to not work as well.

SEP is the appropriate plan option when the employer …

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Not Getting Married? Cohabitation Still Requires Financial Planning

Couples that plan to live together and not marry don’t really get the same kind of financial planning advice that couples that plan to marry do, but this is changing. Some people used to call it “shacking up” but as finance columnist Dee Lee of CBS Boston observes “the PC term is cohabitation.” Whatever you call it, more and more couples are living together but they are not considering the financial implications of this move.

No matter your age, if you live with your romantic partner, you need to talk about money. Some cohabitating couples are being advised to create …

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Don’t Just Walk By That Dime On The Ground!

Have you ever been walking along the street and saw a dime on the ground?  Did you just walk right by, or did you stop to pick it up?  Heck, it’s only a dime, it’s not hardly worth the effort to bend over, right?  But what if it was a dollar?  Or a hundred dollars?  You wouldn’t just walk by that, would you?  What about $1,200?

Unfortunately, many folks do this very thing with their 401(k) plan employer matching funds.  Most employers that sponsor 401(k) plans provide a matching contribution when you defer money into the plan.  Often this is …

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