Whether a sole-proprietorship, partnership, or a limited liability corporation, all small business owners know that they are already investors in their own business. With so much involved in the day-to-day operations of running a business, many small business owners place investing in the back of their minds. However, this can be a dangerous way to operate. After all, when you’re the boss, you’re also in charge of your own retirement plan and in finding ways to reinvest in the company without damaging the capital you’ve already built. Here are a few key tips in small business investing: – Your business is part of your portfolio. When deciding on an investment strategy for your small business, do not neglect to consider your business as a part of your investment portfolio, since you may be able to tap into some of your existing equity or value in order to make new gains. […]

Most of the financial plans we make when we’re young have to do with preparing for that golden someday when we no longer have to work. Whether that is a few years from now when you plan on amassing a ten-million-dollar fortune or thirty years from now when you plan on a more traditional retirement, the truth is that we all want to be financially comfortable as we age. Unfortunately, lots of money isn’t all there is to retirement. As we age, it can become more and more difficult to make sound financial decisions, whether it’s due to health issues or the changing face of the financial world. For many cultures, that’s simply the way things go: there comes a time when children are no longer the ones being supported, and it’s up to them to take care of aging parents when it comes to issues like estate planning and […]

One area that has recently been under study is the reason minorities aren’t investing as much as they could. While there is an overall need to start planning for the future, particularly retirement, African Americans and Hispanics are among the groups that invest the least. Only 66 percent of African Americans and 65 percent of Hispanics working in companies that have retirement plans invest in the 401(k) options that are offered. This is compared to 77 percent of their White coworkers and 75 percent of Asian employees. According to research done by Hewitt Associates, there are quite a few cultural reasons as to why minorities don’t save money. One of the reasons given for African Americans is trust issues with financial institutions like banks, as well as with those professionals responsible for overseeing their retirement plans. These issues are well-founded; the banking world has long been a “good old boys’ […]