Retirement Planning

Thanks for the guest post by Jo Levy

Now that my son is almost finished with college, we’ve begun discussing what he wants to do when he graduates. I would love for him to eventually join the family business but also feel like it would be a really good idea for him to get some experience elsewhere first. He is thinking about what he wants to do and I think he would really like to come work for me based on the conversations we’ve had so far. He even put together a business expansion plan for his senior project including upgrading our services with to make us more competitive and projections for what his input into the business could mean for income. I had not thought as much about expanding the business when he joined me as gradually handing things over so I could retire. It sounds like he’s got big plans in store and might need to keep me around longer than I planned! Guess I may need to rethink my retirement planning!


  1. Long-term annuities are a great way to ensure a steady flow of income during retirement. They allow for a sum of cash to be set aside, then funds are provided at a certain time period determined upon creation. One issue many have with this system is when a large amount of money is needed all at once, rather than small amounts over time. This is when selling the annuity becomes an option. Doing so will net you a lump sum of cash for settlement. This option is usually taken in times of emergency. Hope this was helpful.


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