Thursday, August 21, 2014

Don't make this major business mistake

Don't make this major business mistake

Poor communications may be the number one problem for most businesses. It affects employee performance, employee morale, customer satisfaction, and orders from vendors.

At a minimum, have the person to whom you are speaking, repeat what he or she heard you say. If appropriate and circumstances permit, provide a brief demonstration of what you want accomplished.

The preferred method of contact and in the best order are: face to face, by telephone, by written instructions (letter or e-mail).

Tuesday, August 19, 2014

Fund an IRA with your child's summer job

If your child has a job this summer, encourage him or her to set up an IRA. The amount that can be contributed is $5,500 or the child's earnings, whichever is less. If you wish, you can even provide the cash for the IRA and let your child spend his or her earnings. Roth IRAs are generally a smarter choice for children than traditional IRAs.

College or retirement?

What's more important – saving for your children's education or your retirement? A typical retirement will generally last longer and cost more than your child's education. If you cannot adequately fund both, maximize your retirement savings first. There are far more options for financing a college education than for funding one's retirement.