Old Couple by the Bench

Making Cents: Stress Test Your Forecast

With an eye toward the dog days of summer vacation, this is a good time of year to think about how you would spend your time if every day was vacation. For many, the goal of not working some day is still alive. Retiring isn’t what it used to be, however. Today, retirees want a…

Seniors in Nature

Making Cents: Beneficiary Planning for Senior Citizens

It is second nature for many senior citizens to save as much as possible. These same seniors are such savers, that they are equally reluctant to spend any of their savings. This natural aversion to spending also applies to their retirement accounts. Whether the retirement account is a pension, 401K or an IRA, holding on…


Making Cents: Is Retirement All It Is Cracked Up To Be?

According to a business owner who recently failed at retirement, ‘retirement isn’t all it’s cracked up to be’. For this individual, it wasn’t about the money, it was about the feeling of loss once he wasn’t the boss and in control. He felt as if his purpose in life had simply disappeared. This is more…

sitting at sunset

Making Cents: The Rule of 168

The rule of 168 isn’t some fancy way of seeing how fast your money doubles or a code section from the IRS, it is a law of life.  The law is that there are only 168 hours in a week, and you need to use them wisely if you want to live the ideal life…

How to Avoid a Financial Family Feud

All too often families fight about money. Commonly these feuds begin over real estate, family businesses or care decisions for aging parents. No parent’s dream for the future of his or her family includes disownment or troubles among the siblings, yet parents are most often the ones to blame for the problems. Preventing future feuds can…

women in business meeting

Succession Plans for Privately Held Businesses – Part III

In the last two weeks, we’ve talked about the different parts of planning for business succession.  In our first article, we talked about the operational preparations that must be made (read the article here).  Then last week, we started discussing the financial implications of business succession, including valuations of the business and any real estate…

Man at building

Succession Planning for Privately Held Businesses Part II

Last time, we wrote about the operational side of succession planning.  In case you missed it, you can read it here. Continuing with our series, we’re moving on to the financial side of succession.  There are a few key ingredients:  who will become the new owners of the deceased shares, and what are the financial…

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