October 17, 2019
Non-Qualifying Investment Accounts

Non-Qualifying Investment Accounts Information: The Basics

When thinking of non-qualified investment accounts, several things come to mind. What is the purpose of the account? What’s the best way to use them? What happens to the account when I die? Some of you may even be asking, “What is a non-qualified account?” Without understanding the various types of accounts, it can seem like you’re tangled in the weeds. Well, today’s topic will make choosing a non-qualified account much simpler. By the time you’re done reading this, you’ll be highly qualified to make non-qualifying investments or at least you’ll have a better understanding of them. So join me as we make non-qualifying investments financially simple!
October 15, 2019
small business retirement plans comparison - a guide to ones available to the business owners

Small Business Retirement Plans Comparison – Picking the Best Fit

As we begin our investing portion of the Personal Finance for the Business Owner series, I thought that it would be wise to, first, do a small business retirement plans comparison. Being prepared for our retirement is so vitally important, but there’s another reason for digging into this subject matter before we go much deeper into investing. When you are ready to begin investing, you need to know where to purchase those investments. Retirement accounts offer so many benefits and options in helping us to maximize our dollar and minimize our taxation, especially for business owners. With that said, get comfy because this is a lengthy post, but extremely valuable one comparing retirement plans.
October 8, 2019
investment positions for the business owner

An Overview of Basic Investments – Setting the Stage for the Series

Over the last several weeks, I’ve been talking about insurance and risk management ad nauseam. Well, I am as happy to tell you that we are finished with that portion of the series, as you are to hear it. However, the show must go on, as they say, and we will now kick off the next part of our series – investing i.e. like stocks, bonds, etc. I’d like to begin by providing you with an overview of basic investments we have as business owners. I’m excited to talk about this subject.
October 3, 2019
Common Types of Trusts for Business Owners

Types of Trusts for Business Owners: The Comprehensive List

In my last article, we delved into basic trusts. We defined what they are, and how each type is used. Well, in this follow up article we dive into the weeds, so to speak. This article is an exhaustive list of the most common types of trusts, and will take you from A-Z, as we discuss the thirty-nine — yes, you read that correctly — types. So strap in as I make all these trust types that can be used in your financial planning, financially simple.
October 1, 2019
basic trusts

The 9 Basic Trusts – A Financially Simple Overview

As business owners, so much of our time and effort is poured into making our businesses successful. You plan for every possibility and eventuality. You mitigate risk while maximizing value. You pour so much of yourselves into the business side of your lives, but do you take as much care with your personal effects? Think about it, if you put so much thought into protecting your business, shouldn’t you put at least as much thought into your personal lives? Over the last few weeks, I’ve discussed the importance of estate planning. As I continue digging into the topic, I’d like to take some time to understand the nine of the most basic trusts. Trusts are a crucial part of managing your estate, so let’s take a few moments to get to know them.
September 26, 2019
Other Key Estate Planning Documents besides a Will

4 Estate Planning Documents You Need in Addition to a Will

Most of us realize that we need a will, but there are additional estate planning documents you should also have in place. We’ll talk about four of the most common documents that make dealing with this process much simpler for the people you trust to handle your affairs when you’re gone.