Don't expect a white knight to arrive when you're ready to sell your company. Consider your options now, or risk a bumpy retirement. No one lives forever, and eventually you decide it's time to retire. To make this life-changing plan a reality, you need a viable exit strategy. Many business owners are under the impression that when they're ready to sell, there will be plenty of cash-rich buyers knocking on the door. Yet crossing your fingers and praying for a white knight rarely works; you need … [Read more...]
Ocean Of Energy, A Huge New Business Opportunity at the Bottom of the Ocean
The U.S. is sitting on an underground ocean of energy--and the news is all good for small businesses. We are massive energy users. Last year, the U.S. consumed 95.1 quadrillion BTUs of energy. A BTU, or British Thermal Unit, is the amount of energy needed to raise 1 pound of water by 1 degree or roughly the energy released when you strike a match. Those quadrillions of BTUs didn’t come cheap; consumers and businesses spent over $1.2 trillion on them. Our voracious appetite for energy shows no … [Read more...]
4 Ways to Make Sure Your Business Outlives You
Don't let your company die with you. Here are 4 Ways to Make Sure Your Business Outlives You. As a business owner and father of three children, my imagination takes hold of me from time to time and I think about when my children will be old enough to work at my company. Besides welcoming the assistance of three trustworthy employees, it will provide me the opportunity to teach them what I’ve learned about achieving success. Moving along to a more distant future, I like to believe that when I … [Read more...]
Lower Tax Rates
Supporters of lower tax rates now think the status quo would be better. For decades, business groups have advocated for lower corporate tax rates. At least a few times a day I hear the common refrain that “the U.S. has one of the highest corporate tax rates in the world.” This statement isn’t false, but it isn’t exactly true either. While U.S. companies may have high marginal tax rates, the reality is that very few businesses actually pay the 35 percent top corporate rate. Deductions, credits … [Read more...]
Rookie Millionaries: Why You Might be Luckier than $338M Powerball Winner
The Powerball Winner Pedro Quezada just landed a $330+ million windfall. Can he handle it? Pedro Quezada, owner of a bodega in Northern New Jersey will have to start worrying about number with many more zeroes at the end. The small-business owner won last night’s Powerball lottery worth an estimated $338 million which represents approximately $150 million in lump-sum after-tax cash. That is an almost unfathomable amount of money and more so for a bodega owner. In my experience, most bodega … [Read more...]
Dow Jones All-Time High Proves We are in Financial La-La-Land
Dow Jones All-Time High this Tuesday. Caveat emptor. The Dow Jones Industrial Average, which measures the stock price performance of 30 companies that are representative of our economy, hit an all-time high on Tuesday, surpassing the previous all-time high set in 2007 before the financial crisis. What makes the record so worrying is that underlying economic condition apparently are having no impact on stock prices. As ZeroHedge blogger Tyler Durden (no, not that Tyler Durden) points out, by … [Read more...]
How to Pull Cash Out of Your Retirement Accounts
How to Pull Cash Out of Your Retirement is just as important as putting money in. Here's why. Most small-business owners look forward to the day when they no longer have to work and can retire (or semi-retire) knowing that they have sufficient assets to provide a comfortable retirement. Having sizeable investments is only part of the equation; you also need to ensure that these investments can be converted to cash in a way that minimizes taxes and penalties. Christine Benz, director of … [Read more...]
Is Dollar Cost Averaging The Best Way To Buy Stocks?
Dollar cost averaging may not be the most efficient, but its the best way to buy stocks Small-business owners who don’t have all of their wealth tied up in their businesses usually prefer to take an active role managing their own investments. Over the long-term, prudent equity (stock) investments provide solid returns that beat inflation and other investment alternatives. When it comes to actually buying the shares, significant research has shown that the most efficient way is to buy them in … [Read more...]
Our credit-based economic model is in critical condition
Our Money is Running out of Time: Our credit-based economic model is in critical condition. Its time to position yourself. Legendary bond investor Bill Gross, co-founder of PIMCO which manages nearly $2 trillion, believes that our credit-based economy’s days are numbered. Our banking system is based on fractional reserves, whereby a bank with $10 in deposits can loan out $100 and in effect “create” an extra $90 of capital that can be put to productive use. The depositor wins because they earn … [Read more...]
Investment Clubs: Can a Gang of Investors Help You Build Wealth?
Small-business owners are failing to set aside money for a good retirement. Joining an investment club can change that. I’ve written several articles recently on the lack of participation and planning on the part of business owners when it comes to preparing for retirement. Small-business owners tend to concentrate most or all of their wealth in one asset: their company. This can be very risky, as businesses take a long time to succeed but can fail overnight. Losing your only source of income … [Read more...]
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