Making it Work with Millennials in the Work Place

As a business owner, you’ve seen people come and go. Everyone is different, but you’ve noticed that each age group has similarities.

Millennials are entering the workforce now, challenging businesses with new ideas and forcing their managers to adapt to their peculiar lifestyles. Integrating the new generation with the Baby Boomer culture is challenging, but not without advantages.

The biggest benefit of hiring millennials is their self-confidence. It’s no secret that kids these days have been lauded with attention and validation. For many, that grows into a strong sense of drive and a desire to achieve. That’s something you have to foster in older employees, but you just have to point younger ones in the right direction.

So how do you assimilate Millennials into your business without disrupting your flow?

Continue reading “Making it Work with Millennials in the Work Place”

Estate Planning, Part 3 – Finding a Caring Environment for Elderly Parents

For families who are approaching that point in life when elderly parents are less and less able to care for themselves and increasingly in need of help, the task of deciding what to do and when to do it can produce wildly conflicted emotions—if not outright conflict—on all sides. But it need not. Confronting the need for new living arrangements forthrightly with all parties involved and at an early point in the aging process can help alleviate many of these issues, but the decisions can still be difficult, for the parents and for their adult children. To ease the potential for trauma—and drama—there are some things you can do. Continue reading “Estate Planning, Part 3 – Finding a Caring Environment for Elderly Parents”

The 5 Biggest Mistakes Businesses Make When It Comes to Cash Flow

The best piece of business advice you’ll ever get is this: “Cash flow is king.

Seasoned business owners understand the power of an abundant cash flow situation. All companies, regardless of profitability, will experience a slowdown in cash at some point.

82% of business failures are due to poor cash flow, so it’s a serious metric you should be monitoring. Companies that can forecast a cash crunch and have procedures in place to survive the storm will be in the 18%.

In our experience, here are the top reasons businesses struggle with cash flow beyond a dip in the economy: Continue reading “The 5 Biggest Mistakes Businesses Make When It Comes to Cash Flow”

Estate Planning Part 2 – Helping Your Parents Get Their Affairs in Order

One of the hardest tasks the adult children of elderly parents may have to do is to involve themselves in the legal and financial affairs of the parents. Issues of privacy, independence and judgment can quickly bubble to the surface and make a difficult situation worse. But it is important for everyone involved that these issues be clarified, especially if a parents’ memory and/or physical capacity are in decline. The financial and emotional well-being of the parents, the children, and the grand-children are often at stake. Continue reading “Estate Planning Part 2 – Helping Your Parents Get Their Affairs in Order”

DIY Real Estate: Should You Sell Your House Yourself?

In an age when traditional markets everywhere are being disrupted by internet innovations, it’s tempting for home sellers to try to go it alone, use the web and forgo the services of a real estate agent. A slew of online sites offering advice, assistance and exposure make it now seem even more appealing.  This new realm of Do-It-Yourself realty, known by the shorthand FSBO (i.e., For Sale By Owner, pronounced “fizzbo”) has become increasingly popular and has delivered real value to millions of home sellers.  There is even a website dedicated to serving DIY home sellers called, not surprisingly, For Sale By Owner. But as with many other exciting new things on the web, the results don’t always live up to the buzz.  FSBO home sales are not without their downsides.  The real question is, as ever, “Is it right for me?” Continue reading “DIY Real Estate: Should You Sell Your House Yourself?”

Estate Planning – Creating a Trust for the Family Home [Part 1 of 3]

Putting one’s home into a trust is an increasingly popular strategy for aging homeowners and their families who want to ensure that the parents’ home is transferred to their survivors with a minimum of fuss and the fewest possible tax liabilities. It’s an excellent way both to preserve the value of what is often one’s chief asset for one’s heirs and to avoid the complexities and potential risks that can come with a traditional inheritance scenario. Unlike a will, the contents of which are part of the public record, the terms of a trust are private. And unlike a will, a trust is not subject to the review and possible challenge to the extent to which wills that are going probate are exposed. Nor will the heirs have to bear the burden of probate fees which can eat up to 7 percent of the home’s value – or wait for the process to end to gain ownership of the property. Continue reading “Estate Planning – Creating a Trust for the Family Home [Part 1 of 3]”

The Un-Mixed Blessings of Commercial Real Estate

The outlook for the commercial real estate market in 2016 is considered to be very good with a few minor areas of concern. Overall growth has been particularly strong over the past year.  According to Real Capital Analytics there was a total of $533 billion in commercial real estate sales in 2015 representing a 23% gain over 2014. Last year also saw the second highest level of investment ever, trailing only 2007.  Plus, the Moody’s/RCA Commercial Property Price Indices are predicting price increases of 12% this year over 2015.  Nationally, steadily growing demand and declining vacancy rates are seen as signs that this upward trend will persist. Continue reading “The Un-Mixed Blessings of Commercial Real Estate”

Paying for your Second Home

Owning a second home can be a dream come true.  How many of us have dreamed of having a hideaway from your everyday life?   Owning a second home gives you the benefit of complete control of the home plus it can be a great investment.     Over time, the home can increase in value as well as providing a steady source of income that is often enough to offset the cost of ownership.   

Continue reading “Paying for your Second Home”

Municipal facelifts: To finance or not to finance – that is the question

Municipal infrastructure & equipment upkeep is expensive.  City/Town councils or commissions have to make hard decisions every day on how to finance capital projects – the big question is to borrow money or save over time and pay with cash.  Sounds much like a personal budget dilemma – and in fact, it is.

Continue reading “Municipal facelifts: To finance or not to finance – that is the question”

Millennials – here’s how to handle debt the right way!

More than any generation before them, millennials have grown up in a world built on credit and borrowing.  For many of them, debt has become a way of life.  And for many, especially those who financed an education with credit, they may already find themselves carrying a significant amount of long-term debt and are having difficulty dealing with it.  Understanding how to handle this debt will be an important, if not essential, part of how they fare in the coming years.  So here are some general rules to follow for millennials hoping to better manage their debt.

Continue reading “Millennials – here’s how to handle debt the right way!”