DULLES, Va. (1/27/15)--Entrepreneurship can be rewarding at all life stages, from the young adult years to retirement and beyond. But before you invest your time, energy and resources into the entrepreneurial unknown, make these four money decisions to ensure you reach financial success (Daily Finance Jan. 21).
Build up your savings even before you launch, then focus on increasing your business' sustainability and improving cash flow--two things vital to business success;
Once your business is consistently doing well, look at setting up a SEP-IRA or Solo 401(k), both designed for the self-employed. If you hire employees, consider setting up a SIMPLE (Savings Incentive Match PLan for Employees) IRA;
For related information, read "Uneven Income Calls for Proactive Money Strategies" in the Home & Family Finance Resource Center.