Multiple Issues – Minimal Available Resources

Consider utilizing a product that would offer the following:

Accumulating cash reserves similar to a Roth IRA; the contribution is not tax-deductible, but grows tax deferred and returned, if designed effectively, as tax-free income.
Offering the availability to access cash for long-term care needs with a similar definition to traditional LTC insurance.
Providing a supplemental income for some period of years or life at retirement.
And, oh by the way, offering a sizeable tax-free benefit to your family along the way… just in case you don’t make it.

Can this really be arranged? Yes, it can, but most folks would sneer at me and say that the product is non-competitive in the financial market place. I beg to differ with that assessment. Not only is it competitive, but it is a safe money product. Let me illustrate just briefly.

A male age 40, in good health, could stash an IRA level premium ($5,000 per year) between now and retirement at age 67, and he may give himself a tax-free supplemental retirement income of over $20,000 per year for 20 years; have access to cash for long-term care dollars; and, give his family a sizeable benefit should he die along the way to retirement.

Key issues in any financial planning are flexibility and solving multiple problem areas efficiently. These attributes are fundamental elements of this planning tool.

Are you able to offer a single alternative that will do all of these things? Would you be surprised if I told you this solution is made possible with a plan of permanent life insurance? OK, are you ready to sneer at me and tell me about the non-competitiveness of life insurance?

Unfortunately, permanent life insurance is often overlooked as a part of the solution for a financial plan including retirement. What I often hear is that “I will buy term insurance and invest the difference”. Could be a solid idea, but two things get in the way. Term insurance has an ever-increasing cost; annual premiums that will escalate beyond what may be tenable and an overall cost that will eventually eclipse the benefit. And, the “invest the rest” often never happens or may not reach the desired accumulation goals. What one ends up with is a thank you from the insurance company for all those premiums paid and a small to non-existent nest egg. Maybe it is time to give stodgy old permanent life insurance another look. It may be a very welcome addition to your overall retirement plan!

Building a Web Site for Your Business

Some work-from-home opportunities include a web site when you sign up but if starting up a business, consider either one of two options.

1) Pay someone to build your web site for you. Look around you, web sites can be purchased at low cost these days.

2) Use a Free template or paid for template. Web designers work from home too and are happy to work for low fees to get their own online/home-based business off the ground.

Make sure your web site is consistent.

Your customers will want to see a consistent web layout. Most users will make an impression of your site in seconds. The difference between a good looking site and a bad looking site is a potential lost sale.

If you run an e-commerce business from home, don’t try and build the shopping cart yourself. Use a third party product like PayPal, particularly good for selling a few products and well respected. Payment processors like PayPal take care of your Data Protection requirements and leave you to get on with promoting your internet business.

Third party software

With a small investment, you can purchase a complete shopping cart or if you are on a tight budget, you could use an open source e-commerce product. Either way if your home based business sells a lot of products, why try and re-invent the wheel!

Paid host or free host?

Don’t make me laugh! A years internet hosting with your own domain name costs less that taking someone out for dinner. If you don’t make this one investment, then why bother starting a business at home? Owning a domain adds professionalism to your business. How many www. mysite.myinternetserviceprovidername.com web sites have you seen, that are successful online businesses?

How much does it all cost?

Hosting your new web site and fitting it out with e-commerce might cost you less than a $100 per year. This depends how many products you sell and how much of the work you are prepared to do your self. But be realistic know your limitations and know when to ask for help!