Bakersfield Financial Advisor

A Bakersfield financial advisor can provide small businesses and individuals in Bakersfield, CA with advice on everything from planning parenthood to college educations. If you are working on retirement planning or buying a home you can benefit from the help a Bakersfield advisor or consultant can provide you with in California. Shop online today to find the best Bakersfield financial advisor to fit your needs.

Starting Small Businesses 

If you are planning on starting a small business in Bakersfield, CA you may want to begin with talking to a Bakersfield financial advisor, for instance a certified financial planner or CPA. CPAs are advisor who are highly trained in several aspects of industry requirements and can provide you with the most comprehensive advice for several financial needs. There are several items to consider when starting a small company. From obtaining the loans or grants to providing benefits to your employees you will find the help of an advisor invaluable.

The first step to starting a small business in California is to write a business plan and obtain a business loan. The plan should include items such as how you plan to finance the company, what your background is, what type of competition you have, and any other items of significance. A Bakersfield financial advisor can help you put this together in a comprehensive way that will impress the financial institution and thus help you find the startup costs for the business.

The next step is determining whether you will have employees and what kind of insurances you will need for the company or will offer to the employees. All businesses must provide workers compensation insurance for their employees. You may also be required to provide health insurance. In addition, you need to consider having general liability insurance on the company. Talk to a Bakersfield financial advisor to help you with your insurance needs in California.

If you plan to have employees you will need to be able to keep them. One of the best ways to keep good employees in Bakersfield is to provide excellent benefits. These would include matching California 401k plans, medical insurance, and short and long term disability options. By offering these options you will be sure to find employees who will stay with you long term. A Bakersfield financial advisor can help you with setting up these plans and provide you with advice on how they can provide you with tax benefits for the business.

If you have a company that you are ready to retire from, you will need to plan your exit carefully. Whether you are planning on transferring ownership, liquidating the assets, or selling the business, a Bakersfield financial advisor can provide you with an exit plan that will make sense for the immediate and long term needs you have.

Planning Retirement

The first step to planning retirement is to begin early. From your first job you should begin to start contributing to a retirement plan. Even small contributions will add up in the long run. If the employer is matching the 401k contributions, you should consider contributing at least what the employer is matching. If the employer does not have a 401k plan available, talk to a Bakersfield advisor to start your own retirement fund.

Whether you are an employee or a business owner who is ready to retire, there are several items that should be considered when you decide to leave the workforce. If you have a 401k there are several options open to you for handling the money in your plan. You can roll it to an IRA which allows you to continue earning money on the investment. By rolling over your 401k you can avoid withdrawal penalties and any earnings will be tax deferred. You can also cash out the 401k but you may have to pay early withdrawal penalties and the taxes on the earnings immediately. It's a good idea to talk to an advisor before deciding what to do with a 401k.

If you choose to roll your money into a retirement plan, you should be aware that after age 70 ½ there are required minimum distribution (RMD) amounts that you must begin withdrawing each year. You can choose to re-invest this money into a non-retirement fund if you so choose. Be sure to discuss your retirement plan further with a Bakersfield advisor.

A Bakersfield financial advisor can be of tremendous help for all financial questions. Be sure to work with only licensed and accredited financial advisors who have an excellent track record for the help you need. No matter whether you are an individual looking for retirement help or are thinking of starting a new business, a Bakersfield financial advisor will help you with all of your financial needs.

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