The 5 Elements All Successful Businesses Have In Common

May 03 2021

The 5 Elements All Successful Businesses Have In Common

Sometimes it seems like building a successful small business is like making a wish on a shooting star or finding the pot of gold at the end of a rainbow.

The statistics for a long-term “open” sign aren’t too appealing. According to the Bureau of Labor Statistics, approximately 20% of small businesses fail within the first year. Even more alarming, by the end of the second year, it’s 30% before skyrocketing to 70% by the end of year ten!

Keep in mind that in business (as in life), nothing is guaranteed.

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Getting an Education in Finance In or Outside of School

Apr 27 2021

Students in U.S. schools already had uneven access to financial education before the pandemic began last year. The fact that many school systems ended in-person learning in favor on virtual school threatened to make it even more difficult for students to get a handle on financial planning in academic setting but some schools found ways to adapt.

CNBC.com discusses this in “The pandemic has upended personal finance education in schools.” While one teacher they interviewed was unable to have the financial expert who usually comes in to help teach finance classes be there in person, another found it …

Enhanced Child Tax Credit for 2021

Apr 24 2021

The American Rescue Plan Act of 2021 (ARPA) ushered in several tax changes that we highlighted in this post last month. One of those tax changes involves the Enhanced Child Tax Credit. If you have qualifying children under the age of 18, you may be able to claim a child tax credit (You may also be able to claim a partial credit for certain other dependents who are not qualifying children.) The American Rescue Plan Act of 2021 makes substantial and temporary improvements to the child tax credit for 2021, which may increase the amount you might receive.

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Guidelines for an Emergency Fund

Apr 20 2021

Perhaps you had to tap into your emergency fund during the past year or so. Or maybe the uncertainty surrounding the pandemic has you thinking that it is time to start an emergency fund. Real Simple offers “5 Rules for an Emergency Fund That Will See You Through (Almost) Anything.”

You might wonder why you even need “rules” for an emergency find but guidelines can help you as you try to save enough to keep you afloat should you need it.

The conventional advice from financial experts is that your emergency fund should cover 3 to 6 months …

How The Sandwich Generation Can Take Control Of Their Finances

Apr 16 2021

How The Sandwich Generation Can Take Control Of Their Finances

Do you feel like you are stuck between caring for your aging parents and supporting your children? If so, you’re part of the sandwich generation, and you’re not alone.

According to Pew Research Center, nearly 12% of parents fall into this category—mounting stress and bills at a rapid rate. The same study also found that people in the sandwich generation experienced more financial and emotional challenges than those who were not part of that group.

Intergenerational finances bring immense challenges like navigating your financial health and also carrying the financial

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Unbiased financial advice from fee-only financial planners

The 5 Elements All Successful Businesses Have In Common

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How The Sandwich Generation Can Take Control Of Their Finances