If you are a baby boomer worried about the erosion of your retirement savings, and you have extra cash in your business this year (”Cash?” “What’s cash?”), consider starting a 401(k) for your business instead of getting an IRA. You can start a 401(k) even if you have a sole proprietorship. As a matter of […]
As small business owners struggle to find credit in a credit-empty economy, they are discovering other credit sources that have been overlooked. Today, some sources of funding that might help you and your Baby Boomer business through the credit crunch. On my About.com Guide Site, I put together a comprehensive list of sources for business […]
My parents never put their money under a mattress, but I do know some people of that generation who did. They lived through the Great Depression and lost money in bank failures. So they were not about to trust a bank.
Today we don’t have the same concern about banks -the FDIC says it will protect […]
In the midst of all these bailouts - investment banks, insurance companies, and possibly automakers - I ran across this quote from Lee Iacocca:
There ain’t no free lunches in this country. And don’t go spending your whole life commiserating that you got raw deals. You’ve got to say, ‘I think that if I keep working […]
Now that I have heard over and over how we Baby Boomers caused the financial collapse by our profligate spending and our financial irresponsibility, maybe we should just take over and fix the whole mess.
Miranda Marquit (from Yielding Wealth) and other “ordinary” Americans were asked their opinions on how to fix the economy. Miranda has […]
I’m beginning to think we have wasted our time and money on this election whoo-ha, over the past two years. I don’t think it will really matter for those of us in small businesses, over the next four years. Here is why:
1. The Economy. With the current economic situation, and the $10 TRILLION budget deficit, […]
Like other baby boomers, I donate to my favorite college. Many boomers give to their alma mater, either for the sports program they love or to fund specific capital giving. But the economic situation has all that giving in jeopardy.
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FoxBusiness reports that alumni giving is not much affected by changes […]
It’s a Friday and it’s October. And the market seems to be following historical precedent:
I just heard that foreign trading seems to be in a panic mode, and Dow Futures (pre-opening trading) on the NYSE was so low it was halted to stop the slide. It’s called “limit down.” Remember what I said about “FALL.”
We […]
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We Baby Boomers just received a rude wake-up call, with a $2 TRILLION lost in our retirement funds in the recent stock market debacle. Unlike our parents, who were savers, we have been spenders, but no more.
When we moved my mother out of her home about 10 years ago, […]
The Wall Street Journal suggests that Joe the Plumber should get a SEP-IRA to protect his profits from being taxed. So what is a SEP-IRA?
A SEP-IRA is a Simplified Employee Pension IRA (Individual Retirement Account), which allows you to make contributions to your own and employee retirements. SEP-IRAs essentially function as “profit-sharing” plans, […]
business advice for boomers
Written by Jean Murray [email] for b5media.
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