Financial Coach Jackie Mitchell answers the following questions: • Should entrepreneurs be concerned about the various types of financial planning like: estate planning, educational planning, insurance planning, and retirement planning?
• How can these things directly affect their business?
•. Is putting money back into an entrepreneurs business a better investment than putting funds into a retirement plan for later on?
• If they take this route what happens to their financial security in the event the business fails?
•. Should entrepreneurs be concerned with Asset protection as a component of their financial plan?
•. I understand that there are at least seven key components to a good financial plan and they are:
* Budgeting and taxes
* Managing liquidity
* Financing large purchases
* Managing your risk
* Investing your money
* Planning for retirement and the transfer of your wealth
* Communication and record keeping
•. Which of these can a financial coach help an entrepreneur with?