As we dig further into the income for life strategies, remember that even the best-laid plans can go awry. However, if you’ve taken any steps you doing better than half of the country when it comes to your retirement. Nevertheless, there is one area you may have forgotten to account for—inflation. So if you’re hoping to have a nest egg outlast you then this is one caveat that should not be ignored—investing to beat inflation!
It never fails, when I have new clients coming in, they say they want all of the upside but none of the downside. Basically, they want their investment cake and to eat it too. However, the problem is you can’t invest without taking some risks. They need to understand the types of risk in investment to be most concerned with and the ones that are best left to the experts to worry about. Let’s discuss the kinds and how to deal with them.
Just ask any small business owner and you will find there is little downtime in their life. Their to do list runs the gamut, from sales calls to bank runs. They hurry to complete deadlines and deal with employee issues. They literally deal with everything from advertising to taxes. Those taxes can be quite complicated too. The IRS offers these seven resources to help with common questions about small business taxes.
I have often said, “estate planning isn’t just for the retirees, it’s for you too!” We often think we will deal with what to do with our stuff much later in life, but the truth is, there is no time like the present for estate planning. Even if you aren’t retiring tomorrow, this crucial puzzle piece can mean the difference between worry and peace of mind for those that depend on you.