4 Important Steps for a Retirement Strategy

When it comes to investing for retirement, business owners should consider two main goals: protecting principal, and earning a return that will help them achieve their financial goals. With that in mind, here are some general rules of thumb that experts suggest for retirement investing. 1.  Diversify your portfolio*. Many investors have been advised to […]

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3 Tough Questions to Ask before Transferring the Business to Your Kids

1. Can you retire without relying on the business as your only income? “When parents’ retirement lifestyle is dependent on the success of the business—and their child’s performance—it makes it hard for them to truly let go of the reins,” says Janna Hoiberg, family business specialist and author of The Family Business: How to Be […]

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How Key-Person Insurance Can Preserve What You’ve Built After the Loss of an Essential Employee

You’re a successful small business owner in a thriving trade. Over the years, you’ve expanded operations, taken advantage of market opportunities and now expect revenue to double this year. Suddenly, your top sales manager, who accounts for 40 percent of company sales, dies in a tragic car accident. Shortly after, your business partner, who has […]

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Foretelling the Future in a Family Business

A patriarch’s planning simplifies matters for his four heirs—and theirs. The needs of a family business tend to change considerably over time, and owners need to be sure their plans keep pace. That was the case for V&A Process, a manufacturer of custom plastic welding rods based in Lorain, Ohio. Danny Smith, an insurance agent/ […]

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7 Steps to Take Now to Ensure Your Business Survives Loss of a Key Employee

Keeping a successful business thriving during a crisis is job No. 1 for any owner or operator. Key-employee insurance can be an important part of that protection strategy, but you’ll also want to examine several related issues. Here are seven essential steps — part of your general business-continuity planning — that can help you overcome […]

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