With any small business, one significant measure of long-term success is exiting the business on your own terms. Many people are surprised when they learn that exiting a business was unsuccessful. Others are surprised when they learn that other people in their life have expectations about how they exit the business. For now, we will assume that you have a suitable successor in mind to take over your operation. (This is also harder than it sounds and we will discuss this issue in a later post.) Read Full Article
Should You Tap Retirement Savings to Fund College?
Many parents wonder whether they should use retirement funds to pay for college for their children. If your child is looking at attending college in the near future and you’re looking for ways to help your child with their college expenses, you may be planning to dip into your retirement fund. But is this the best financial decision for you and your family? Although 30 percent of parents intend to use their retirement funds to pay for their children’s college education, this isn’t the right course of action for all parents. At DunnCreek Advisors in St. Paul, MN, we want to be sure that you make the right financial decision for you and your family, and we’ll help you evaluate the advantages and disadvantages of funding a college education with retirement savings. When you’re trying to decide whether to fund your child’s college education with your retirement savings, consider the following three factors:Read Full Article
