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A savings account can be the best fall back

The recession has sharpened the focus on a number of global economic issues, but one that packs a ground-level punch for consumers who experience a financial emergency is a savings account. “Savings are always important, but right now they’re extra important because if someone is anticipating a layoff or their income being reduced, they need to have enough to carry ...

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What is the purpose of your family business?

To make money, you say. Isn’t that the purpose of a business? From 67 years of being an owner of one, and the observer of others as an attorney, mediator and teacher, I’m not so sure. It’s not that simple, and in my opinion, this question can and does get ignored to the detriment of the business and family owning ...

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Making financial planning decisions in tough times

Let’s agree on a couple of things before I make any recommendations: 1. We are experiencing the worst recession since the Great Depression and no one saw it coming. 2. Those of us who invest in the stock market have lost about half of what we had when this thing started. 3. Our plans for financing retirement are in shambles ...

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