Succession planning can be one of the most difficult issues faced by a family-owned business. As a business owner nearing retirement, how do you transfer leadership (and perhaps ownership) and keep the business running smoothly? Unfortunately, many businesses don’t survive the transition to the next generation. As with most business problems, good planning is the […]
Archives for December 2020
Tax tips for Investors
Don’t ignore the impact of taxes on your investments. While taxes should not drive your investment strategy, understanding how taxes affect your earnings will help you minimize taxes and maximize your return. Some things to consider: 1. Capital gains carry a special favored tax status. The tax rates on long-term capital gains are lower than […]
5 Reasons Why the Elderly Are Susceptible to Scams
As we age, we tend to become more vulnerable to fraud. According to the National Consumers League, nearly a third of all telemarketing fraud victims are age 60 or older. That type of fraud represents billions of dollars per year. One study found that senior citizens, who make up 12% of the U.S. population, comprise […]
Give Your Children the Financial Education They Need
Most parents, at one time or another, have asked their teenaged child, “Do you think that money grows on trees?” While the question is just a common expression, it hits at an underlying truth. Children on the verge of adulthood often don’t have a clue about financial matters. For instance, can you honestly say that […]