New Strategies for Small Businesses Colorado-based FirstBank recently sponsored billboard ads for some very small businesses, including babysitters, piano teachers, and wedding entertainers. The campaigns motto was, "We Care About Small Business." An unconventional idea? Sure. But even conventional small businesses can benefit from new ideas and strategies to keep up with a challenging environment.
How does your business keep going these days? Share your story with us! Even if a layoff is not eminent, knowing about options can reduce the stress that is caused by uncertainty. Knowing the options takes some of the mystery out of rolling over proceeds from a 401k account. A rollover provides more choices and more control to the account owner.
401k Plans: Why Not to Take a Disbursement
Although it might seem that a disbursement is a good idea at layoff time--considering that money might be hard to come by while bills continue to roll in--it is usually the worst possible choice. First, nearly every 401k plan has been hit hard by the down economy, with many account balances down 50 percent or even more, so half of the saved money has evaporated (as is well known by anyone who has dared to look at his or her statement lately). Subtracting up to 35 percent in taxes and penalties from the remaining 50 percent leaves the remaining amount looking like a pretty trivial safety net. | | Find More Help |  | Advertisement  |
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