CPA Articles

The thought of early retirement is very alluring, especially when retirement is so close you can easily envision it. But early retirement is not unlike the Song of the Sirens. It can pull you into the rocks or sail you through a shortcut to happiness that you likely richly deserve after a life spent working hard. Before you allow yourself to be swallowed up by too many daydreams and not enough critical forethought, consider the pros and cons of taking early retirement.

Reduced Earning Years

The end of the year is a natural checkpoint for both individuals and small business owners. It’s when financial records should get reviewed, budgets get tightened, and people start thinking about how to position themselves for the year ahead. Making the right money moves during these final months doesn’t just clean up loose ends—it can also save on taxes, improve cash flow, and build a stronger foundation that can make the future brighter. Here are several smart strategies worth considering before it’s time to post the new calendar on the wall.

The rising cost of college has become one of the most pressing financial challenges for families. Parents want to give their kids the best opportunities, yet tuition bills can rival a mortgage. Even students who work part-time or earn scholarships often come up short. Covering tuition isn’t about finding one magic solution. It’s about combining several strategies—some well known, others less obvious—that, when pieced together, make the cost of higher education more manageable.

1. Savings Plans With Long-Term Benefits

A good credit score can open doors to better interest rates, easier loan approvals, and even lower insurance premiums. On the flip side, a weak score can hold people back financially, making everyday decisions like buying a car or refinancing a home more difficult. Many clients know they should aim higher, but the question is how. Improving your credit score isn’t about overnight tricks—it’s about consistent, strategic steps that add up over time.

Understanding Credit Scores

Starting a new business can feel like trying to learn a new language while juggling. It’s exciting—but also full of legal, financial, and regulatory steps that most first-time entrepreneurs don't expect. Whether you’re opening a solo consultancy or launching a small retail store, the early decisions you make will shape how smooth or difficult things become down the road.

Getting set up properly isn’t just about staying compliant—it’s also about building a stable foundation that supports growth, reduces risk, and makes tax season far less stressful.

Sudden financial windfalls don’t just change your bank balance—they can shift your entire outlook. Whether the money comes from an inheritance, a legal settlement, the sale of an asset, or a lucky day at the lottery office, the excitement can quickly be accompanied by uncertainty. What should you do first? Who do you call? And how do you make sure it doesn’t disappear as fast as it arrived?

Managing money well isn’t just about what you do right—it’s also about avoiding the wrong moves. Whether you're running a business or trying to get a better handle on your personal finances, it’s surprisingly easy to fall into habits that quietly chip away at your financial health. Some missteps are obvious, but others fly under the radar until they’ve caused real damage.

Here are seven common money mistakes that individuals and small business owners make—and what to do instead.

1. Ignoring Cash Flow Warning Signs

Writing a business plan is more than checking a box before meeting with a lender—it’s your chance to prove you understand your business from every angle. Lenders don’t simply want to hear your enthusiasm. They want to see how that enthusiasm translates into a workable, financially sound plan that can withstand challenges and deliver steady returns.

Reaching your fifties with little or no retirement savings can feel unsettling, especially when the retirement finish line seems to be approaching at full speed. You may find yourself wondering whether you’ll be able to step back from work at all. The good news? You still have time—and options. What matters most now is having a strategy that’s tailored to your reality and goals.

A financial catastrophe doesn’t always come with a warning. A job loss, medical crisis, divorce, lawsuit, or business failure can unravel years of progress in a matter of months. Whatever the cause, the impact is rarely just about the money—it’s the disruption to plans, routines, and in some cases, the ability to meet basic obligations.

But recovery is possible. And in many cases, the bounce back is less about a massive windfall and more about practical, steady changes that rebuild stability over time.