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SEP IRA: What You Need to Know About This Retirement Plan Option

Success

Finding the right retirement plan for your business can take time and effort. One retirement plan option available to business owners and self-employed individuals is the SEP IRA, or the Simplified Employee Pension plan. It allows you to save for retirement based on your earned income. What is a SEP retirement plan?

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Why It’s Time to Retire the Term “Hybrid Work”

Allwork

An awareness of where and when work is done forms the basis of a flexibility strategy with appropriate space, technology and policies in place. . The word “hybrid” gets used a lot relative to workplace strategy, but it may be time to retire the term. . For example, “If I’m doing a real deep-thinking piece.

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5 Tips to Make Filing Taxes Easier for Freelancers in 2023

Success

With a traditional job, all you need to file your taxes is your W-2 tax form at the end of the year, showing what you made and how much you had withheld for federal and state taxes. With freelancing, you’ll likely have multiple clients, each sending you a 1099-NEC form (previously a 1099-MISC) showing what they paid you.

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The FIRE Movement (Financial Independence, Retire Early) and Independent Work

Small Business Labs

The New York Times article  How to Retire in Your 30s With $1 Million in the Bank nicely covers the " growing movement of young professionals who are intently focused on quitting their jobs forever." " It's called the FIRE movement and the acronym stands for Financial Independence, Retire Early.

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Examining The Global Impact Of The Gig Economy Explosion

Allwork

For example, in world regions like Sub-Saharan Africa, job postings for gig workers on the world’s largest digital platform grew exponentially by 130% from 2016-2020. In comparison, North America’s postings only grew by 14%. However, the study cites the presence of a considerable wage gap felt by women in many regions.

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Using a Financial Planning Checklist Can Help You Meet Your Goals

Success

Although it might sound tedious, dedicating a little time to checking in on your bank statements, confirming you’re saving enough for retirement and reviewing the financial goals from the beginning of the year can help ensure you are on the right track. It also gives you time to make corrections if needed.

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More on the FIRE (Financial Independence, Retire Early) Movement, Independent Work and Edge Communities

Small Business Labs

Last month we covered the growing Financial Independence, Retire Early (FIRE) movement and how it relates to the rise in independent work.  Famed personal fiance guru Suze Orman, for example, doesn't like it.  Examples include Christianity, hula hoops, yoga, rock and roll and many, many others.  I hate it.