Now that the United States has enjoyed a healthy economy and job growth for several years, it can be easy to overlook the possibility of rising inflation or even another recession. To stay one step ahead, it’s important to pay close attention to the actions of the Federal Reserve. It has already indicated that it…
Perhaps you have heard the statistic that 50 percent of new small businesses fail within the first two years of operation. The Small Business Association (SBA) states that the figure is only 30 percent. However, it does jump to 50 percent by five years and nearly two-thirds of small businesses close within 10 years. If…
As a small business owner, you know that numerous factors influence the economy. The stock market and federal interest rates are just two examples. Imagine for a moment that the Federal Reserve changes interest rates on the first day of next month. It wouldn’t be long before that change trickled down to the rest of…
The financial crisis that started in 2007 and peaked between 2008 and 2010 wasn’t a pleasant experience for anyone. However, it impacted small businesses much more significantly than larger ones. Below we explore the many ways our country’s last recession affected small businesses and both the positive and negative changes they have made in response….
One of the most loving things parents or grandparents can do is help secure the financial future of a child they love. With Christmas only a few weeks away, it is the perfect time to give a savings bond, college contribution, or other monetary gift. While young children might not appreciate financial Christmas gifts so…
Most people know that they must set aside as much money as possible to draw on in retirement when they are no longer actively earning an income. While many employers offer a 401(k) retirement savings account and self-employed individuals can open an Individual Retirement Account (IRA), these options aren’t appropriate for everyone. Some people may…
Some people mistakenly believe that those who have a high net worth have a successful investment strategy known only to them. While smart investing can indeed make a person rich, it is just one of several good money habits of individuals with high net worth. Below we discuss some common financial management mistakes people make…
The whole reason you went into business for yourself was to earn more money than you could as an employee. After all, your income when working for someone else is limited to want they want to pay you. Owning a business of your own opens the door to much greater earnings, but you must avoid…
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