Business Money Management – To Get Your Retirement Savings
Today, I want to talk to you about How To Start Your Own Retirement Savings Plan
It’s common knowledge that the American Social Security program is in catastrophically bad financial shape, and that those retiring in just a few years cannot depend on getting anywhere near what they need or expected from that system.
Regardless of how far from, or close to, retirement you are, you should know your business money management plan needs to include a self-funded retirement savings plan for your financial security. So let’s talk about how to start one FAST!
You’ve probably heard the old saying, Pay Yourself First, and that is some of the best business money management advice you will ever get. If you don’t pay you into a retirement savings plan, who will? So how do you do that? Here’s how. (more…)
My friend Perry Marshall has a term he coined – “Operation Moneysuck” – and it describes what happens to you, as a business owner, when you are in your business working on doing what will bring in the cash flow, and others keep interrupting you to handle all sorts of situations and emergencies that suck up your time when you should be doing what you do best to bring in income.
You aren’t making money when you are fixing the copier, calling the plumber to get the toilet fixed, bypassing the Office Manager by talking to the scheduler about the need to keep the appointment book 95% full, calling patients to remind them of their appointment, or worrying about how you are going to pay bills at the end of the week.
No one can do what you do as a business owner - so do what you are supposed to be doing. Get down to business and let others handle the stuff that you are paying them to handle. Usher the messenger out of your office, lock the door and get down to business. When you emerge from your office, you will probably find that the employee has handled the problem, and it wasn’t such an emergency that your valuable time and attention was required. That’s one way to bring success to yourself, and it is just smart business money management.
