Free-Reprint Article Written by: Daniel Lamaute See Terms of Reprint Below.
***************************************************************** * * This email is being delivered directly to members of the group: * * [email protected] * ***************************************************************** We have moved our TERMS OF REPRINT to the end of the article. Be certain to read our TERMS OF REPRINT and honor our TERMS OF REPRINT when you use this article. Thank you. This article has been distributed by: http://Article-Distribution.com Helpful Link: The Digital Millennium Copyright Act - Overview http://www.gseis.ucla.edu/iclp/dmca1.htm --------------------------------------------------------------------- Article Title: ============== Starting A Business After Retirement Article Description: ==================== For a lot of people retirement is but a transition that frees them to live their dream of running their own business. Census figures show that about 20 percent of those in their 50s were self-employed. But, twice that, a whopping 40 percent of those working past age 70 are in business for themselves. Additional Article Information: =============================== 565 Words; formatted to 65 Characters per Line Distribution Date and Time: 2007-10-23 11:00:00 Written By: Daniel Lamaute Copyright: 2007 Contact Email: mailto:[EMAIL PROTECTED] For more free-reprint articles by Daniel Lamaute, please visit: http://www.thePhantomWriters.com/recent/author/daniel-lamaute.html ============================================= Special Notice For Publishers and Webmasters: ============================================= If you use this article on your website or in your ezine, We Want To Know About It. Use the following URL to let us know where you have used this article, and we will include a link to your website on thePhantomWriters.com: http://thephantomwriters.com/notify.php?id=5346&p=load HTML Copy-and-Paste and TEXT Copy-and-Paste Versions Of Article Are Available at: http://thePhantomWriters.com/free_content/db/l/starting-a-business.shtml#get_code --------------------------------------------------------------------- Starting A Business After Retirement Copyright (c) 2007 Daniel Lamaute Lamaute Capital http://www.InvestSafe.com For a lot of people retirement is but a transition that frees them to live their dream of running their own business. Census figures show that about 20% of those in their 50s were self-employed. But, twice that, a whopping 40% of those working past age 70 are in business for themselves. If you're a seasoned professional starting your own business odds are that you already know the business, you have the skills and experience, you know or have the certifications you'll need, and you may even have a good idea of where your first clients will come from. The following 4 steps can help you start on the right track: 1. Prepare a personal inventory You want to be sure you have the basic skills any independent contractor needs, no matter what the business. For example: you will need to * organize an office, * handle records and finance, * manage your own time, and * promote your services Don't be reluctant to hire experts to help with some of these tasks, and when appropriate barter your expertise for theirs. 2. Organize your Business Once you are ready to get started, you'll need to decide how to structure your business. Will you run things simply as sole proprietorship, a partnership, or a corporation? Consult with a business attorney or your accountant to help guide you in selecting a structure that fits your circumstances. Generally, if you operate as a sole proprietor and have no employees, you can use your social security number as your Tax ID. Corporations and firms with employees need an Employer Identification Number (EIN) from the IRS. 3. Organize Yourself You will need to set up an office. This means you'll need all the things that you ordinarily would expect from an employer: * a useable workspace; * computer, e-mail and other equipment; * files for correspondence, expenditures, billing, et cetera; * a phone with voicemail; * business cards, stationery, and probably a Web site You will also have to organize your life and probably impose discipline on yourself, to make sure deadlines are met. If you work from home set aside time and space for yourself, when and where family members should not intrude. 4. Have Access to Working Capital Starting a business can be thought as running a marathon. Perseverance and staying power are probably the most important resources to being successful. One key element to stay in the game is having access to enough working capital to weather the downturns. One potential source of cash that's not often obvious is the possibility to borrow from your retirement funds thru a self-employed 401(k) loan. While tapping your retirement funds may not necessarily be the best or wisest source of financing, it is one option that you should be aware of and one that has advantages over some other forms of financing commonly used by self-employed individuals. You may find more information on the self employed 401(k) loan on www.InvestSafe.com. Whether or not you use its loan feature, with a Self-employed 401(k) you can continue to build tax-advantaged retirement savings. Increasingly, employers are treating workers as in-house consultants for renewable short term assignments. Instead of fighting this trend, you can strategically develop your consulting skills so that more than one client will want to pay for your time. Then you too can join the rank of those who bask in the financial and emotional rewards of being an independent consultant. --------------------------------------------------------------------- Daniel Lamaute, a retirement investment specialist with Lamaute Capital http://InvestSafe.com --- END ARTICLE --- Get HTML or TEXT Copy-and-Paste Versions Of This Article at: http://thePhantomWriters.com/free_content/db/l/starting-a-business.shtml#get_code ..................................... TERMS OF REPRINT - Publication Rules (Last Updated: May 11, 2006) Our TERMS OF REPRINT are fully enforcable under the terms of: The Digital Millennium Copyright Act http://thomas.loc.gov/cgi-bin/query/z?c105:H.R.2281.ENR: ..................................... *** Digital Reprint Rights *** * If you publish this article in a website/forum/blog, You Must Set All URL's or Mailto Addresses in the body of the article AND in the Author's Resource Box as Hyperlinks (clickable links). * Links must remain in the form that we published them. Clean links should point to the Author's links without redirects having been inserted into the copy. * You are not allowed to Change or Delete any Words or Links in the Article or Resource Box. Paragraph breaks must be retained with articles. You can change where the paragraph breaks fall, but you cannot eliminate all paragraph breaks as some have chosen to do. * Email Distribution of this article Must be done through Opt-in Email Only. No Unsolicited Commercial Email. * You Are Allowed to format the layout of the article for proper display of the article in your website or in your ezine, so long as you can maintain the author's interests within the article. * You may not use sentences from this article as an input for any software that steals sentences from others in order to build an article with software. The copyright on this article applies to the "WHOLE" article. *** Author Notification *** We ask that you notify the author of publication of his or her work. Daniel Lamaute can be reached at: [EMAIL PROTECTED] *** Print Publication Reprint Rights *** If you desire to publish this article in a PRINT publication, you must contact the author directly for Print Permission at: mailto:[EMAIL PROTECTED] ..................................... If you need help converting this text article for proper hyperlinked placement in your webpage, please use this free tool: http://thephantomwriters.com/link-builder.pl ===================================================================== ABOUT THIS ARTICLE SUBMISSION http://thePhantomWriters.com is a paid article distribution service. thePhantomWriters.com and Article-Distribution.com are owned and operated by Bill Platt of Stillwater, Oklahoma USA. The content of this article is solely the property and opinion of its author, Daniel Lamaute http://www.InvestSafe.com --------------------------------------------------------------------- XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX ---------------------------------------------------------------------
