5 Retirement Mistakes Small-Business Owners Make

And How to Avoid Them

INTRODUCTION

Small-business owners are an essential component of keeping America’s economy churning. In the United States, small businesses with 500 or fewer employees make up 99.7% of companies.

Too often, however, small-business owners spend so much time and energy building their companies, they neglect their personal financial futures. They might consider their companies to be their retirement plans, but don’t create the structure or strategy necessary for turning financial success into a meaningful retirement.

With this report, our goal is to help business owners avoid costly mistakes and confidently plan for the retirement they deserve.Read More »

3 Times to Buy Additional Life Insurance on Active Duty

In previous articles, I’ve written a summary of the life insurance and death benefits provided for military service members and also a guide on why people need life insurance and how to calculate the appropriate amount. As I’ve detailed, the death benefits, which are offered at an incredibly low cost, often provide more than enough coverage for a service member who is the primary earner in the household. To recap, the lump sum equivalent for a family with one service member, a spouse, and two children is in excess of $800,000, with a portion offered in the form of guaranteed annuity payments.

Of course, exceptions to the norm always exist, and several situations demand that a service member should consider purchasing additional life insurance through a private party.  These situations or scenarios fall into three categories.

  1. A member of the family is underinsured.
  2. Concerns about future insurability issues or expenses.
  3. Impending transition out of the military.

Read More »