What’s the best way to plan for retirement?

• Start Now
• Plan Your Goals
• Work Towards Your Goals
• Estimate Your Needs
• Plan Your Savings
• Take Advantage of Your Options
• Manage Your Accounts
• Review Your Accounts

Planning is everything when it comes to starting a successful business.

How do you begin? 

• Create a detailed business plan:
  • First 3-5 years
  • Cash Flow Analysis
  • Capital Needs

What’s next? 

•  Form a Dream Team.
  • Lawyer
  • Accounting Firm
  • Bank

They can help you with…

• Best Business Structure
• Permits
• Licenses
• Registrations
• Tax ID Numbers

You can also get advice and pointers from the Small Business Administration’s online learning center.

There are two affordable 401K options for small businesses.

• SEP – Simplified Employee Pension Plan
• SIMPLE Plan

How do these work like a 401K?

• Employees contribute to their retirement
• Employers can match the contribution
• Employees can choose investment options

Can they still choose from stocks, bonds, money market funds, and mutual funds?

• Yes; they can mix and match to meet their personal investment objectives and their risk tolerance.

When should you start saving for retirement?

• It’s never too soon to start saving.

Credit score is a very important component when you’re trying to buy a house.

Where does “credit score” come from?

• Payment History
• Total Credit Used
• Length of History, New Credit & Types of Credit

How can someone check their credit score?

• Southern Bank will check someone’s credit score when they apply for a loan. They can also visit AnnualCreditReport.com for a free report once a year.

How do they access their account?

• Scammers use phone, email and social media.
• Unpaid tuition fees and fake scholarships are common scams.

Any other scams students should be aware of?

• Dating Websites
• Friendship Websites
• Discount Bookstores

How do you avoid these scams?

• Don’t share your personal financial information unless you’re sure you know where it’s going.

What are benefits of merchant services? 

• Using a debit or credit card can make the transactions easy and quick

What should todays retailers do for merchant services? 

• Accept Apple and Google pay
• Accept smartphone coupons

Are there fees associated with merchant services? 

• Fees can be associated but it depends on the service

Whats the typical home buying age?

• Between 25 and 45 years old
• Most millennials are buying homes
• Usually most are 1st homebuyers

What is good advice for millennials the re buying homes?

• Set a budget
• Prequalify for loans