Planning for your own business Before you start your own business or buy an existing business, you should do some initial planning. You may have already decided what type of business you want–your own restaurant, retail outlet, service, or manufacturing plant. You need to choose a suitable location–can you work from home, or do you
Introduction For most parents, paying for a child’s college or graduate school education is a major event. For some parents, it rivals only the purchase of a home in number of dollars spent. As the cost of college continues to rise, it’s little wonder that parents view their ability to pay college costs with some
Getting married is exciting, but it brings many challenges. One such challenge that you and your spouse will have to face is how to merge your finances. Planning carefully and communicating clearly are important, because the financial decisions that you make now can have a lasting impact on your future. Discuss your financial goals The
You’ve been saving diligently for years, and now it’s time to think about how to convert the money in your traditional 401(k)s (or similar workplace savings plans) into retirement income. But hold on, not so fast. You may need to take a few steps first. Evaluate your needs If you haven’t done so, estimate how
Answer: Many companies offer their workers employer-sponsored life insurance coverage as part of their employee benefits package. If you are offered this opportunity, it is probably in your best interest to accept. Buying life insurance through your employer can be a relatively inexpensive and hassle-free way to get some of the life insurance coverage you
You may have lost your job already, or it’s something you’re concerned about. Either way, the keys to surviving a job loss financially are to plan ahead, take stock of your income, and cut your expenses. Plan ahead If you haven’t been laid off, it’s a good idea to plan ahead for that possibility. It’s
For millions of Americans, group health insurance offers affordable quality health care. To get the most from this valuable benefit, you need to understand what you have, how lifestyle changes can affect your coverage, and what to do if your coverage doesn’t meet your expectations. Understand what you have Get your plan’s summary plan description
Introduction An old rule of thumb said that you could afford to buy a house that cost between one and a half and two and a half times your annual salary. In reality, there’s a lot more to take into consideration. You’ll want to know not only how much of a mortgage you qualify for,
Answer: First, consider putting the money into a safe, liquid account such as a savings or money market account until you have time to take stock of your situation. Don’t spend or invest your windfall until you have a chance to: See a tax professional and analyze the tax consequences–you may need a big portion
Answer: To answer this question, you must decide how your money can work best for you. Compare the money you might earn on other investments with the money you would pay on your debt. If you would earn less on investments than you would pay on debts, you should pay off debt. Let’s assume that
