According to California-based exit planner Bill Black, "85% of small businesses have done no planning, leaving their families and employees at risk." Survey after survey indicates that Baby Boomer and Genx business owners have done little to prepare for the day when they will no longer work in their businesses. Unfortunately, exiting a business in [...]
What is the "Rule of 72" And Why Does It Matter to You? "In wanting to know of any capital, at a given yearly percentage, in how many years it will double adding the interest to the capital, keep as a rule [the number] 72 in mind, which you will always divide by the interest, [...]
There was a time in the not-so-distant past when the "theory of decreasing responsibility" was a viable way of determining how to plan one's retirement. This theory, which formed the nucleus of retirement planning for decades, held that as people get older, their financial responsibilities will decrease. For example, the mortgage will typically be paid [...]
I am not a tax attorney, nor do I play one on TV. I am, however, a financial guide who understands the need for thorough, complete estate planning. In recommending trusts to many of my clients and prospective clients, I have run across situations in which someone wanted to use a trust differently than [...]
