In general, the market analysis section should include information about the industry, your target market, your competition, and how you intend to make a place for your own product and service. Extensive data for this section should be added to the end of the business plan as appendices, with only the most important statistics included in the market analysis section itself. What Should a Market Analysis Include? The market analysis section of your small business plan should include the following:...

In accordance with federal law, your employer must keep your 401(k) funds separate from the company’s assets, so business creditors will have no access to them. You’ll be able to keep most of the funds in your 401(k), and you can move them to another type of account to keep your nest egg safe. Most of Your 401(k) Money Is Yours Your 401(k) account usually holds several different types of contributions....

Learn about the three main types of inventory and why it’s important for businesses to properly track their inventory. What Is Inventory? Inventory is the product you sell to customers. Inventory can be acquired by a business and sold to customers without change to the product. Inventory can also be altered or combined with other pieces of inventory to create a new product that is sold to customers. The most important feature—from the standpoint of defining inventory—is that a business acquires these things intending to sell them to a customer in some form or manner....

Types of Investments There are various ways to invest your money, such as stocks, bonds, and property. You should have a clear understanding of each option to make the best decision for growing your money. Common Stock: A share of common stock represents a unit of ownership in a legally formed corporation. For most companies, there is a single class of stock that represents the entire company. However, some companies have multiple classes of stock, including dual classes of stock....

IRA Contribution Limits The amount you can contribute in 2021 and 2022 are the same for both traditional IRAs, which are tax-deductible, and Roth IRAs, which are not tax-deductible. Total contributions to traditional IRAs and Roth IRAs cannot exceed: $6,000 ($7,000 with “catch-up” contributions for taxpayers ages 50 or older)Your annual taxable compensation These amounts remain unchanged from the IRA contribution limits for 2020. The combined contribution limit grants you the ability to contribute to either a traditional IRA or a Roth IRA....

This decision may have consequences for the seller, buyer, and any real estate agents involved in the transaction. If you’re the seller, you should carefully consider the repercussions before rejecting a full-price offer. Why You Might Want to Reject a Full-Price Offer Sometimes, when selling your home, you may receive a full-price offer and immediately feel regret. You may wonder: Did you underprice your home? Should you hold out for more money?...

Most likely, by the time you hear this question, you’ve already spoken for a while and answered many questions about your skills and experience. It can be tempting to just politely respond by saying that you feel like everything’s been covered. Resist this urge. Instead, use this as an opportunity to close the interview on a strong note. Much like the question “Tell me about yourself,” this open-ended question allows you to take control of the conversation and share information that’s helpful to your candidacy....

Before combining finances, be sure you understand fully what that entails. This means that you combine your debt, your household budget, and your savings. It also might mean that you will have to change the way you spend or save money, or accept that the way your partner handles money is much different than your approach. Keep in mind that money can be a big issue in a relationship and you do not want it to ruin yours....

Interviewing is a skill in and of itself, one in which your ability to interact with the interviewer and to articulate your thoughts are factors that are just as important in getting the job, as are the qualifications listed on your resume. Here are some interview skills that will help you get hired. Interview Preparation Winging it really isn’t worth it. Not only will your interviewer know that you haven’t invested much time in preparing, but your answers (and your self-confidence) can suffer if you don’t take the time to properly prepare....

A Brief ETF Refresher ETFs passively track a benchmark index, similar to how index mutual funds work. Therefore, the best ETFs will also have the lowest expense ratios. For example, if you’re considering an ETF that invests in the S&P 500 Index, the one with the lowest expense ratio is likely to be your best choice. However, if the expense ratios are relatively close, you’ll want to choose the one with the highest assets under management....

If you have a job you’re happy with, it can make good sense to request a leave, if feasible, rather than resign from your position. Even if the organization isn’t legally required to grant you leave or company policy doesn’t provide for personal or family leave, you may still be able to work out an arrangement with your employer. How To Ask for a Personal Leave Asking for a leave is the type of conversation that’s better conducted in person than via email....

Review examples of the types of lending, how businesses are treated differently than individuals by lenders, and what to consider before seeking a business loan. What Is Lending? Simply put, lending allows someone else to borrow something. In terms of business and finance, lending often occurs in the context of taking out a loan. A lender gives a loan to an entity, which is then expected to repay their debt....

What’s the Difference Between a Living Trust and a Living Will? A living trust is a legal entity created to hold and own your assets after you transfer them into the trust’s ownership. This property is typically invested and spent for the benefit of the trust maker—the person who created the trust—and, eventually, their beneficiaries. How a Living Will Works You might be in an irreversible coma or maybe you’re suffering from a terminal illness....

The lower your debt-to-income ratio, the better because it means you don’t spend much of your income paying debts. On the other hand, a high debt-to-income ratio means more of your income is spent on debt, leaving you with less money to spend on other bills or save and invest. Calculating your debt-to-income ratio is fairly simple. You can start by adding up your monthly debt payments, including credit cards and loans....

What Happens During A Recession? Recessions can last a few months. In every past recession, there were job losses, market drops, and other events that tested investor patience. According to National Bureau of Economic Research (NBER), the body that decides when the U.S. economy is in a recession or expansion, “expansion is the normal state of the economy” and that most recessions are brief. That means, the markets and the economy eventually stabilize after a recession, usually followed by much longer expansion....

The Balance surveyed 1,000 Americans ages 18-40 who are currently dating/seeking partners. The results yielded interesting insights in how young Americans approach dating during the pandemic. While most daters said they spend less than $100 on a first date, 26% of those surveyed said they spend more than that. Among millennials (ages 25-40), 28% are willing to spend at least $100 on a first date, and a third of them spend $250 or more per month on dating....

From March 21 through the end of 2020, more than 68 million new unemployment claims were filed, according to data from the Department of Labor. Much of that is thanks to the pandemic’s widespread economic damage, and tax preparers say each claim is potentially a headache waiting to happen. While people collecting unemployment have the option of withholding 10% of their benefits to pay income tax, it’s not a very common move, according to the IRS and tax professionals....

Whether you must repair your car after an accident and insurance claim depends on the circumstances. If you still have a loan on the vehicle, your lender will demand the repairs. Can I Repair the Car Myself? If there’s a lien on your vehicle, you likely won’t be allowed to repair the car yourself. Your lender may even require you to use an approved repair shop—or at least one that guarantees its work....

President Joe Biden is pushing for another round of stimulus checks, this time worth up to $1,400 each, in an effort to help hard-hit households cover expenses and encourage spending to stimulate the economy as part of an economic relief bill. However, according to the Harvard researchers, the bill would get little bang for its buck in terms of economic activity with $200 billion in direct payments only leading to $15 billion in spending....

Passive Investment Benefits Rather than deal with the “Terrible Ts”—toilets, trash, and tenants—many older investors are in search of the “Terrific Ts,” which give them time, travel, and teeing off. To accomplish these goals, some seasoned investors have turned to real estate investment strategies such as a tenants in common 1031 exchange. Tenants in common 1031 exchanges have long permitted investors to own high-caliber, professionally managed properties occupied by established tenants, with virtually no property management responsibilities....