CIBC estimates that approximately $1.2 trillion in Canadian business assets alone will change hands by 2010 as more baby boomers anticipate retirement. Imagine what that means for American businesses!
Business owners not only have to worry about their own retirement planning, but will also need an exit
strategy and a long-term plan for their employees. The same study found that 60% of small business owners haven’t even begun to discuss their retirement plans yet.
Don’t leave yourself struggling to pay bills or your employees hanging high and dry. Develop a responsible plan for building business after you’ve retired and explore your options today.
Social security and pension plans should be the baseboard for your retirement planning, but you’ll have to think more creatively to continue making money once you’ve left your business.
Many owners, while simultaneously building business, choose real estate investment properties or further their stock and mutual fund investments.
In addition to expanding your business, you should be retirement planning and considering an exit or succession strategy. Recruiting the services of a financial planner can be an invaluable asset.
For many retirees, 31% of their business retirement plan will come from the sale of their business. An additional 28% will come from a registered government savings plan, such as an IRA or 401k, and 25% from stock market investments. The smallest income will be the 16% from social security or pension funds.
Should you offer employee retirement planning? While building business, it’s a good idea to share some of the company profits with hard-working employees. Generally a company with an employee retirement plan will have better productivity, stock purchases, employee retention and a more secure future.
For starters, you may want to consider a Simplified Employer Pension IRA. You will make contributions to a general fund, using up to 15% of employee income, in the employee’s name which they will receive when they retire or decide to dip into the fund.
You can decide what percentage of the company’s profits you’ll distribute among employees and you’ll enjoy easy administration, no additional IRS reporting, tax kickbacks and a better rapport with your employees.
One in five small businesses now offers an employee retirement plan, so don’t hesitate to look into a SEP-IRA or 401k plan when building business.
While it may seem like a daunting task to cover the retirement planning of yourself and your employees while building business, a simple trip to Fidelity Financial or a financial planner could get you on the right track.
By learning more about your investment options and developing an exit strategy, you can ensure that your golden years will truly be the best.
MIKE SELVON
http://www.articlesbase.com/finance-articles/building-business-with-a-retirement-plan-234193.html
I"am in the beginning stages of starting my business, a continuing care retirement community.?
I’am looking for different ideas on how to get Government funding or lending and other donations from local large companies. My business will bring 100’s of jobs to the area and create a safe and healthy community for the elderly. I have sketches and scaled drawings of my building and a complete business plan along with quotes from two local construction companies. Now I’m left with having to come up with a large amount of money and have no ideas where to begin. I’m going to try local banks if I have to but would rather use that as a last resort if I can find money else where. I have heard that the Government offers low interest loans and grants to qualified individuals. I would really appreciate any information on how to go about getting started with this.
For this type of thing you start with the Small Business Administration. That is the agency that provides loans to small businesses.
http://www.sba.gov/
Good Luck
References :
Experience
You have to get the information on requirements in order to avail of those government loans. And assess yourself if you qualify. I had an experience inquiring loans. One requirement for loans, depending on the amount, is a collateral, which is usually a property-land, car , anything that can , sort of, equal the value of the money you want to borrow.
There exists also the cooperatives wherein you have to be a member and have savings before you can borrow money. My husband is a member of a vendors’ cooperative for the last 10 years.
References :
Experience.
LOANS! LOANS!! LOANS!!!
B.Shimon Loans And Mortgage International is offering loans to individual and corporate bodies for as low as 2% interest rate, with loan terms determinant. Loan amount is between the sums of $5,000.00 USD to $500,000 USD.
Our company specializes in financing small to large businesses. And we can get you approved for funding within 48 hours if your application is considered. Therefore, whatever you need the money for, whether it is repairs, opening a new location or whatever, we can get you approved for funding in just a matter of a few days.
We Offer the Following Kinds of Loans:
* Personal Loans
* Business Loans
* Refinance
* Home Improvement
* Auto Loans
* Debt Consolidation
* Line of Credit
* Second Mortgage
* Investment Loan
* International Loans.
You can apply for a loan by replying this mail and request for more information to: shimonloans@europe.com .You will be glad you did.
This loan offer is sponsored by B.Shimon Group.
NOTE: We do not demand transfer fees for loans, as approved applications will be transferred after terms are agreed. Your credit score does not matter, provided you have a source of steady income.
BEST REGARDS
MR. ANAH TEL BEN-SHIMON
CHIEF EXECUTIVE OFFICER,
©2008 B.SHIMON LOANS AND MORTGAGE INTERNATIONAL
+447035965336
References :