June 2017 Blog Posts

  • How You Can Start Saving For Retirement Today

    June 29, 2017

     Whether you’re in your 20s and haven’t even thought about retirement yet, or in your 50s and dream of retirement every day, it’s important to either start or continue saving. A mix of universal retirement advice with some little known tricks can be used to boost your savings for what are supposed to be your most relaxing years.


    Invest Aggressively – a high percentage of your portfolio should be in stocks, especially if you are younger since you have more time to endure the ups and downs of the market. But don’t invest in individual stocks. Instead, select mutual funds or exchange-traded stocks in order to add some needed diversity to your portfolio.


    Sign Up for a 401(k) – this advice is not just for our clients in their 20s; many baby boomers do not take advantage of what is essentially free money! If your workplace has a 401(k), you need to participate. Most employers will match your contributions. In addition, any money you deposit into the account will not be taxed now, so less of your income will be taxed. Use a 401(k) calculator to plan accordingly.


    No 401(k)? No Problem – if your workplace doesn’t have a matching 401(k), then open a Roth IRA. Roth IRAs are funded with money that has already been taxed from your normal paycheck. However, when you withdraw and use the money in retirement, it will be tax-free. A tip from the wise is to have money from your paycheck automatically deposited into your Roth IRA.


    Don’t let current expenses be an excuse to keep you from saving for retirement! A little financial planning now will save you a lifetime of regret.

  • What You Need To Do To Keep Your Business Financially Sound This Summer

    June 15, 2017

      Don’t let the nice weather fool you; competition is heating up. And if you don’t maintain a strong awareness of your business and its finances, then you’ll no longer be able to complain about the pain and hassle of managing your business’s money; because it will be gone. So, let’s keep your dreams healthy and alive by doing the following this summer.


    1. Choose the right accounting software – not every accounting software is going to work for every business. Even if you have already have software, do your due diligence and click around the Internet to make sure you’ve picked the right one. With that said, the real pressing need is to move your financial data from desktop software to the cloud if you haven’t done so yet.


    2. Do you have a professional bookkeeper? –we often find entrepreneurs aren’t thrilled about doing the bookkeeping for their business, which actually makes a lot of sense. Most people aren’t numbers people, and those with big ideas typically like to focus on the forest instead of the individual trees. If you’re finding that you’re spending a disproportionate amount of time doing the accounting for your business instead of running it, it’s probably time for some outside help. In the end, you’ll make more money since you’ll have more time doing what you do best.


    3. Work with a trustworthy credit union – credit unions are ideal for small business owners. Credit unions do not have to answer to the whims of shareholders, so they are able to focus on you and your business’s needs. In addition, they generally keep profits local, so there’s a higher chance of them either investing in you or other area entrepreneurs in the future.


    Keeping track of your finances will enable you to take opportunities which would not otherwise exist. Like we said, just because it’s nice outside doesn’t mean it’s okay to get loose with your money or get distracted! You’ve come too far to let a little hiccup derail your dreams from coming true.