There are few guarantees in business or in life. In my discussions with business owners, one of their big concerns is “how do you keep your talent from leaving?” Although you can never actually prevent someone from leaving, you can put certain safeguards in place that guarantee that you can get compensated if a key person leaves unexpectedly or before … Read More
How Can You Have Your Child’s Private School Funded by your Business?
If you have a child with special needs, a learning disability or an illness that requires special schooling, you may be eligible to have your child’s private school funded by your business as a legitimate medical expense. Many private schools cost $25,000 or more per year. Obviously, parents who elect to send their healthy children to private school is … Read More
Starting a Business? Incorporate or Sole Proprietorship?
Incorporate or Sole Proprietorship? Some weeks appear to have a recurring theme. The last couple of weeks I’ve been approached by a number of owners of sole proprietorship businesses wondering if it is time to incorporate their business. So what are the advantages and limitations of running a business as a sole proprietorship versus incorporating your business? So should … Read More
Do I Need A Holding Company?
A question that I’m often asked by business owners is “Do I Need a Holding Company or is my Operating Company enough?” There are a number of potential opportunities that a Holdco, which owns shares in your OpCo, that can offer business owners a huge advantage over just having an Opco. We’ll take you through a few scenarios where a … Read More
7 Helpful Tips For Divorce and Retirement Plans
A divorce not only impacts your current financial situation but can have a significant impact upon your retirement plans. Typically speaking, your living expenses after a divorce increase, your net income will decrease and your net worth is cut in half. All of these events can limit your ability to save for future events like retirement. Here are 7 Helpful … Read More
Money Management Mistakes That New Divorcées Should Avoid
It can be a brave new world when it comes to newly divorced couples and finances. Often, due to liquidity of marital possessions can result in having a tremendous amount of cash or liquidity on hand. Coupled with being single again, the kid in a candy store phenomena can occur. Being newly single, lots of cash on hand and only partial … Read More
Divorce and Retirement? At Least we can help you with your Retirement
A divorce not only impacts your current financial situation but can have a significant impact upon your retirement plans. Typically speaking, your living expenses after a divorce increase, your net income will decrease and your net worth is cut in half. All of these events limit your ability to save for events in the future like retirement. The following will … Read More
What is your company’s role in your Employee Personal Financial Wellness?
The Stats May Shock You Much has been discussed about creating loyal and happy staff, and attracting and retaining great talent. One often overlooked opportunity to build trust, increase worker productivity, reduce stress and contribute to an employee’s financial freedom is helping to educate on employee personal financial wellness. So why would you go down that road? Do employees really … Read More
What are your options if you don’t qualify for life insurance?
It’s been said that the only people who want to buy life insurance are those who are uninsurable or don’t qualify for life insurance. For those who are deemed uninsurable there are some options for life insurance that you will want to be aware of. Obviously, the younger and healthier you are, the lower your premiums. But what happens if … Read More
Pay Attention to Your Beneficiary Designation
Whether you’re taking a contract for your business or personally, naming a beneficiary is a valuable feature of life insurance and segregated funds policies so it is important to carefully choose your beneficiaries. Have you made any of these common mistakes with your beneficiary designation? Estate – the default choice Many people choose to name their “estate” as their beneficiary. … Read More