Route 422 Business Advisor

From the Editor's desk at Route 422 Business Advisor — Relevant news and information of interest to business owners and operators along the Route 422, Route 100 and Route 30 corridors in Southeastern Pennsylvania. Please visit www.422bizmag.com

 

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Retirement Planning - Part Three Retirement Investing and Setbacks

Whether a person has many years until retirement or it is just around the corner; investing

for long term growth is essential. In an earlier article, it was mentioned that proper balance

between the basic asset classes - stocks (equity assets) and bonds (fixed income) - helps to

decrease market risk. Essentially, the higher the allocation to high quality bonds the lower the

market risk. In addition, diversification within those basic asset classes further decreases risk and

provides the best potential for above average returns.

 

5 Steps to Building a Retirement Income Plan

Greg Koch's picture

Modern thinking has taught us that, as the average life expectancy continues to climb (Could age 90 be the new 70?), our real concern should be more than a magic number for retirement savings. It should be creating a retirement income plan that ensures we will have income in retirement that lasts as long as we will.

By building a strong foundation of assets and implementing strategies first to grow them, then to protect and preserve them, you are setting yourself up for retirement income success. Here are some key steps that will help you get there.

How Digital Marketing Companies Fill in the Gaps and Help You Focus on Your Core Competency

The buzz around increasing organic traffic is sufficient to let everyone know why it’s important.

But are you aware that it plays a major role in the success of any business?

The entire SEO industry is built around organic search traffic to improve the organic ranking of the websites the SEO company has been entrusted. In fact, research shows that organic traffic represents more than 60% of the total traffic on any website.

Retirement Planning - Part Two - What savings vehicles are available to prepare for financial independence and retirement?

The amount of assets needed to sustain cash flow, as well as, where and how it is

invested must be carefully considered when planning for financial independence and retirement.

People with a plan tend to be more confident that they will be comfortable throughout retirement.

Saving and investing to provide for the future may be in the form of pre-tax payroll deductions

that grow tax-deferred, or after-tax contributions to tax-deferred or tax-free vehicles, or

contributions to a taxable account, or any combination of all of these vehicles.

Did you pay too much in taxes for 2017?

Greg Koch's picture

Problem: If you earned over $300,000 last year you probably paid way more in taxes than you should have!

Many professionals--doctors, dentists, lawyers--and small business owners often find they have spent so much time and effort developing their thriving practices and growing their profitable businesses that they just didn't have the time to plan for their own personal retirement situation.

Retiring Soon? Don't Make These 9 Mistakes

Greg Koch's picture

There is plenty you can do to avoid running out of money in retirement. Whether you are newly retired or retiring soon, planning is key. Some retirees just plunge in and get into trouble. 

Mistake 1: Not planning for medical expenses

Retirement Planning – Part One -What amount of assets do you need to be financially independent enough to retire?

What amount of assets do you need to be financially independent enough to retire? A long time ago, the assumption or a starting point was that most people needed about 70 percent of pre-retirement income to maintain their lifestyle in retirement. The reality in my experience is that most people need 100 percent of pre-retirement income to maintain their lifestyle in retirement. It seems that even though there are a few financial obligations that disappear, such as, mortgages and paying for college, a few new obligations appear impacting financial security in retirement. 

SEO & Social Media Trends to Look Out for in 2018!

Google has been known to roll out a few big changes throughout the year, each year.

While some updates are larger than the others, it’s worth keeping a track of and knowing what each update is about.

Merely responding to the changing SEO and social media trends is passé!

If you’d like to stay ahead of your competition and always have an edge over them, predicting how the face of SEO will look in the coming months is equally, or may be even more crucial than staying in line with the current trends.

Investment Management: Building Wealth

Sound investment management requires clearly defining your goals, knowing your risk tolerance and understanding various investment options. Building wealth requires patience and a strategy appropriate for your personal situation and objectives. Frequently, investors have a high-risk tolerance when the stock market is increasing and a low-risk tolerance when markets decline. Clearly, the best strategy is one that does well in good times and mitigates loss during market declines. 

Do you have a Roth IRA? Should you have a Roth IRA?

Greg Koch's picture

The Roth IRA is celebrating its 20th Anniversary. It started January 1st 1998.

The Roth IRA is growing stronger than ever. You may be already reaping the tax benefits of owning your own Roth IRA or, did you hesitate to open one?

Here are 20 ROTH IRA Facts you need to know:

SEO vs. PPC

Assuming you have a website, your 24/7, three-hundred-and-sixty-five day per year online brochure is up and running. The question is what now?

This article will attempt to educate the reader on the advantages and disadvantages of Search Engine Optimization and Pay-Per-Click.

Both have their advantages and disadvantages. Both will require a monthly investment, in either time, effort and the pocketbook.

Search Engine Optimization (SEO)

Why Mobile Marketing Needs to be Part of Your Digital Marketing Strategy

The hype and fanfare surrounding the recent introduction of the iPhone 8 and iPhone X are proof that smartphones are an integral part of our lives.

According to comScore, an American media measurement and analytics company, smartphone penetration in the United States has crossed 80 percent in 2016. When the iPhone was launched in 2007 only six percent of the population had a smart phone!

Cash Management: Enhance your financial position and take control of your finances

A fundamental building block of financial planning is cash management. Effective financial planning requires the accurate examination of cash inflows and outflows and the examination of assets and liabilities. The process of monitoring and examining cash flow allows people to prioritize and address financial goals and monitor progress. 

Cash Inflows: Sources of Funds 

• General income sources, for example, salary, wages, bonuses, commissions, alimony, child support, rents, royalties or trust distributions. 

Tax Reform Proposal Unveiled

Greg Koch's picture

The much-anticipated Republican proposal for tax reform has been released in the form of the Tax Cuts and Jobs Act, an over-400 page long major rewrite of the Tax Code.

Individual Retirement Accounts

IRA rules are left largely untouched by the Act. Contribution limits and requirements are unchanged, stretch IRAs remain in place, and favorable treatment for Net Unrealized Appreciation remains available as before.

Health Insurance: Executive Order

On October 12, 2017, President Trump signed an Executive Order. What does this mean for health insurance? What changes will take place in the health insurance market now? What changes might happen to health insurance in the future?

What If You Could Pay Health Care Costs in Retirement with Tax-Free Dollars?

Greg Koch's picture

As medical expenses continue to increase, planning for them in retirement takes on greater importance.  One approach is to shift thinking of the Health Savings Account (HSA) as an account to defray medical expenses annually to an account with pre-tax dollars and tax-free earnings to defray medical expenses years from now in retirement.

Consider this planning strategy to help insulate your lifestyle dollars from medical expenses:

• Fully fund an HSA to the maximum annual contribution allowance, potentially to age 65.

Processing Workplace Incidents

In the last article, we reviewed Workers’ Compensation file basics. In this article, we are looking at processing workplace incidents. Workplace incidents include workplace accidents and "close-calls." There were approximately 2.9 million non-fatal workplace injuries and illnesses reported by private industry employers in 2015, which occurred at a rate of 3.0 cases per 100 equivalent full-time workers, the U.S. Bureau of Labor Statistics reported. The Bureau of Labor Statistics also reports that more than a dozen workers died every day in American workplaces in 2013.

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