You and your family (partner, spouse) work hard to accumulate assets over a lifetime. The hope is that, when the time comes for you to leverage those assets, they’ll be there for you to benefit from.
When entrepreneurs start a business, the last thing on their minds is succession planning. Most business owners spend a lot of time – as they should – on Operations Plans, Marketing Plans, Capital-spending Plans, Maintenance Planning, Staffing Plans…and more. But what about Succession Planning?
Long before retirement even hits our radars, we’re planning what type of education, skills training and professional designations we’ll acquire. We also spend a lot of time planning which industries are the best place to work in, and which employers to work for.
Everyone has their own reason for gifting their assets or a portion of their income to charitable organizations. Some find comfort in helping others who are less fortunate, while others simply want to share their good fortune.
For some people, financial planning is mainly concerned with how best to go about building a nest egg, and how to make it last through retirement.
From career-woman to wife/partner, and from caring mom to single-motherhood, separation and divorce – women go through more transitions during a lifetime than most of us realize.
When you are full of ideas for starting a new business, all you can see is what’s going to happen tomorrow. The thought of having their vision turned to reality often blinds new entrepreneurs to that all-important question: Does it all makes sense financially?
There is a direct link between business success and employee benefits. Some of the most successful businesses are those with satisfied employees.
Many individuals confuse financial planning with general savings and investing advice. While how to save (and how much!), and where and when to invest those savings, is every bit important, prudent Financial Planning goes much beyond the realm of just saving and investing.
While many of us don’t realize it, we are constantly engaged in subconscious acts of investment planning. We plan how we can best invest the limited time we have at our disposal.
Not everyone of us is equally prepared for retirement. While some of us are fortunate to have built a nest egg that will last us through our Golden Years, others will depend on government programs for retirement income.
When you are young and just starting a professional life, retirement might be the last thing on your mind. However, if you ask any retired person, or someone entering retirement, what advice they would give you about planning for that day, chances are they’ll say: Start as soon as you can!