Retirement Planning (1)

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Retirement Planning
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While as a job holder you might as well have
started planning for your retirement from the
first day of your job itself and also planning
their retirement savings even before the day they
are stepping into office.
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Entrepreneurs are Not as Serious as Job Holders
about their Savings Why?
The number of 55-year old Americans starting a
commercial venture of their own is increasing
with each passing day. The bad news however
is the fact that they are not as serious about
retirement planning as the job holders are.
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Retirement Plans for Entrepreneurs What Should
they Know?
Entrepreneurs are actually more focused on
putting back every scent on their business. They
are reluctant to invest in a retirement plan
because they fear that they will actually lose
access to quick funds for their business.
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Separating your Personal and Business Finances
The very first sagacious step towards planning
your retirement is to separate your business
accounts from your personal ones. Your business
checking and savings account should only be used
to meet your business expenses.Having separate
business and personal accounts will also help you
with better tax planning.
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You Retirement Planning Needs you to Invest Time!
If your business makes for a significant part of
your net worth then you should ideally choose
low-risk investments for money, which is in no
way connected to your business. Your business
should never be the sole part of your retirement
plan. Contribute your own personal savings
to your retirement plan as well.
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As per the experts, most of the businesses that
start out as sole proprietors choose to stay as
sole proprietors. Your choice not to structure
your business into an LLC puts your personal
assets at risk. This, in turn, puts your
retirement at risk as well.
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States
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