Objective information about financial planning, investments, and retirement plans

Comments

  1. What are your thoughts on IRA’s not being for people making a lot of money. Would you recommend a family who is in the 1% and have their own business invest into a IRA? or Focus on growing the business or maybe both?

    • Roger Wohlner says:

      Dominique thanks for your comment. As you well know the most frequently given answer in our world is that “it depends.” That said I think it is vital for business owners to contribute to some sort of retirement plan. If an IRA is the best option for them then they absolutely should do that. Factors to consider are the business’s cash flow, the number of employees, is one spouse covered by a retirement plan at his/her job, and a number of others. But overall I see too many business owners who neglect their own retirement and financial planning issues to focus on their business. Sometimes this will pay off, other times not.

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