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Think Twice Before Funding that 401(k)
11/06/2008 - By Kathy Gilligan Photo By Dan Epstein
Frank Z. Levine of Certified Financial Services, LLC based in Parsippany, NJ
Before a business owner automatically decides to invest in a 401K, IRA, or any retirement plan, Frank Z. Levine, with Certified Financial Services, LLC in Parsippany, suggests stopping to think.
Before a business owner automatically decides to invest in a 401K, IRA, or any retirement plan, Frank Z. Levine, with Certified Financial Services, LLC in Parsippany, suggests stopping to think. Levine asks clients, “Is it the most appropriate place for your money at this time?” And then he helps answer that question. Levine uses macroeconomic financial strategy to help businesses owners look at the big picture. How much would it benefit an owner if the money was available to pump back into the business or any other opportunity? “Many business owners don’t even realize that they are part of a minority—the minority that makes money,” Levine says, “and that puts them in a different category than the majority of people.” So why choose the same investment strategies? Instead, he suggests, invest in the business first. “When money is in retirement plans, can you get at it in times of crisis or opportunity?” he asks. “What happens if you want to expand products, services, or staff?” Or, he adds, purchase the building your business is housed in—an investment that affords numerous financial and tax advantages. That’s not to say 401Ks and managed investment options are not viable. “They just move further down the list to third or fourth, rather than first place,” Levine states. “Instead, wouldn’t a personalized strategy that maximizes each and every dollar be first priority?” “When businesses owners identify areas where they don’t see a return on money—taxes, fees, Term Insurance, etc.—they can strategize to recoup those losses,” Levine says. That makes money work efficiently and effectively, he notes, but how many businesses know how to do that? The goal is simple: to help business owners plan in a way that won’t leave them wondering at the end of a lifetime of achievement, “Should I have done this with my money or that instead?” Levine wants clients to know their money has done the absolute best it can for them. What business owner wouldn’t want that? Certified Financial Services, LLC Frank Z. Levine ADDRESS: 600 Parsippany Road, Suite 200, Parsippany PHONE: 973-263-0622 WEBSITE: www.frankzlevine.com EMAIL: flevine@cfsllc.com
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