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Planning for retirement is like running a business…….

Affordable retirement is becoming a bigger and bigger issue; not only is it a worry for small business owners but also for those that are currently employed and for those that have retired and don’t have enough to live on.

Starting next week I will run a weekly series in the “finance” box of One Biz Central. (www.onebixcentral.com)

It will outline the basic premises for turning retirement planning into a business operation.  A few of the issues to be presented will include:

  • Developing the proper mind-set to send your money ahead for future use
  • Determining how much you need for retirement
  • Eliminating instant gratification
  • Developing a discipline for savings
  • Earning extra money – on a part time basis
  • Investment vehicles- where to put your savings
  • To start or not to start a home based business.
  • Budgets

These represent only a few of the topics that will be featured in this special series. The unique thing is that everyone that is serious about retirement can benefit by implementing these suggestions.

One of the things we will be examining is the benefit of having a large portion of your retirement in liquid assets. There are many unknown economic situations that may require cash, for example, health care, the growing national debt, etc. Determining the amount of money required for a comfortable retirement is no longer a simple formula.

The legal section of this series will cover corporations, LLCs, partnerships, sole proprietors as well as an in-depth look at wills and living trusts.

Our subscription fee for www.onebizcentral.com will remain at $5/month ($60/year). This will change sometime in 2014. There is an opportunity for subscribers to ask  questions and receive answers from our experts.

Before you can get what you want, you have to know what you want, and make a game plan to get it. Jeffrey Gitomer

Nick J. Petra CFP    www.strategicduck.com      www.onebizcentral.com

 

 

 

 

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