In about 85 percent of all business sales, sellers accept a cash down payment and a promissory note to pay the balance in installments. The note is personally guaranteed by the buyer, and it is secured by the business and its assets in case the buyer defaults. Providing owner financing allows sellers to cater to a broader pool of potential buyers. However, many sellers do not want to be in the lending business and would prefer not to hold business notes. The good news is: they do not have to. If you created a business note to unload your company, you can sell the note to someone else. This way you can get instant cash out of the business, instead of waiting to receive periodic payments in the future. You can use the cash for a variety of purposes, including: capitalizing on other investment opportunities, paying off debts, funding college tuition and making major purchases. How Selling Business Notes Works Business notes are purchased at a discount – like all notes sold on the secon...
Not Having a Retirement Plan May Make Retirement Impossible Are You Heading Toward Retirement Without a Plan? Most Americans think about, and talk about retirement by age 65, but fewer and fewer can do it. The group of people age 65 and older is the fastest growing segment of the labor force. About 10 years ago, 52% of such Americans worked full time, but that has increased to 58%. Obviously, many working people are not investing properly for their retirement; they may be under investing; they may be investing in the wrong assets; they may be taking unnecessary risks. Each year that passes reduces opportunities to make corrections and increases the savings necessary for a comfortable retirement … The problem with not having a retirement investing plan-a financial goal– is you can spend your life working hard, running up and down the field and never score a touchdown. Plan your Income Needs Identify where you want to be, financially speaking, at retirement age. Calculate how much ...