The creation of the Simplified Employee Pension (SEP) and the Savings Incentive Match Plan for Employees (SIMPLE) affords smaller businesses with a way to offer their employees a retirement plan.
While many of us don’t realize it, we are constantly engaged in subconscious acts of investment planning. We plan how we can best invest the limited time we have at our disposal.
Many individuals confuse financial planning with general savings and investing advice. While how to save (and how much!), and where and when to invest those savings, is every bit important, prudent Financial Planning goes much beyond the realm of just saving and investing.
It’s said that only two things are certain in life: Death…and Taxes! And while there’s not much you can do to avoid the former, with prudent planning and foresight, there’s a lot you can do to minimize the later.
For some people, financial planning is mainly concerned with how best to go about building a nest egg, and how to make it last through retirement.
Long before retirement even hits our radars, we’re planning what type of education, skills training and professional designations we’ll acquire. We also spend a lot of time planning which industries are the best place to work in, and which employers to work for.
You and your family (partner, spouse) work hard to accumulate assets over a lifetime. The hope is that, when the time comes for you to leverage those assets, they’ll be there for you to benefit from.