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Investing can be a powerful tool for building wealth and achieving financial security.

However, it’s essential – especially for rookie investors – to set clear investment goals and develop a well-thought-out strategy to reduce risk and sidestep the common pitfalls.

1. Define Your Investment Goals

The first step in any investment journey is to define your goals. What is the principal purpose of the investment? Is it to accumulate a nest egg for retirement, a down payment on a house, or your ch...

If you operate a small business, you already fill a lot of different roles. Should Accountant / Bookkeeper be one of them? Maybe outsourcing is an option that will work for you. Here are some pros and cons to consider when deciding whether to outsource your accounting functions vs. doing them inhouse.

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Whether you have a great new startup idea or a long-running business, you’ve probably come to one inevitable fork in the road: financing.

It’s the extra capital you need to take your company to the next level, be it for funding resources, creating a new marketing budget, or securing a deal with an overseas manufacturer. Entrepreneurs in Connecticut know full well the challenges faced as its highly-competitive markets cater to some of the wealthiest in...

A deed of trust might make it easier for you to get a loan to purchase your new home than trying to get a traditional mortgage from a bank. That's because you're basically giving over the deed to the property to the lender as security for the loan. But not all states allow the use of deeds of trust.

You loaned money to an old friend. Things started off well, and he made a couple of payments. But now three months have gone by without a payment, and he's avoiding your calls. You're faced with a dilemma - he's an old friend and you don't want to ruin the friendship, but you can't afford to just write off the money you loaned him. Should you sue him?

Small business entrepreneurs whose companies are mired in debt can find a way out again, if they are willing to work with debt relief providers. These are organizations that provide complementary counseling sessions and give insight into what the business owner can do in order to lessen their debt burden and save their business from bankruptcy.

"Net worth" is the amount by which the total value of your assets exceeds the total amount of your liabilities. Do you know what your net worth is? Data collected by National Longitudinal Surveys over the past 12 years indicates that 70% of people think that they are worth less than they really are, while 25% believe they're worth more.

Declaring personal bankruptcy is a decision that should not be entered into lightly. But if your personal debt far exceeds your ability to repay, then it's an option you must consider. Before you decide to declare bankruptcy, you need to know all the facts.

This is the final article on conducting a due diligence review when purchasing a business. This article lists relevant records, contracts, financing and credit arrangements, and brokerage commissions relevant to the transaction.

VI. Administrative Records.

Administration includes all of the procedures, policies and records related to the day-to-day operations of the company. A well-run company keeps good, thorough, accurate records. You will need to review copies of all the administrative reco...