The Sacramento Republic FC has bolstered its quest to become a Major League Soccer franchise. On Monday the team announced an impressive addition of more than a dozen new business leaders who will invest in the group, including Ultimate Fighting Championship fighter and local business owner Urijah Faber.
If you have sold a business and moved on to retirement or another career, it’s worth noting that a change in lifestyle should also trigger a change in investment styles.
You’ve made all the right financial decisions. You’ve saved, you’ve planned, you’ve invested. But what if your heirs aren’t quite ready for the responsibilities and tax advantages that go along with inheriting your dutifully funded IRA? Your best bet for control from the grave may be a trusteed IRA.
Surviving the Great Recession wasn’t easy for anyone, but it had a unique impact on business owners who were looking forward to retirement. One-third of small biz owners are over the age of 55 – primed to step away from the day-to-day routine. When the economy went into a tailspin, those trying to either sell or otherwise transition the ownership of their business had to keep working, even as the long slump made staying in business a struggle.
On a hot, sunny morning last fall, 69-year-old retiree Pamela Chappell of Citrus Heights hit rock bottom. She was scraping by on Social Security checks and a tiny pension while paying for medication to treat her lymphedema, a painful swelling in her legs. Then she got a letter from the IRS warning her that it was about to empty her savings account of $8,000 — every dollar she had — for back taxes.
Juxtaposed against the crisp, modern lines of Brian Witherell’s home in Alkali Flat sits a trove of ancient treasures, premier antiquities cherry picked from his company’s massive antique collection.
Brian Collins is a 26-year-old director of accounts at Sacramento-based mobile applications marketing firm Appency. He makes what he calls “decent money,” is putting lots of it into a 401(k) and has an eye on his financial future. And, like most people his age, he’s decided that buying a house is not part of the plan.
Having just begun using social media in 2012, Safe Credit Union is relatively new to content marketing. But it hasn’t taken long for the company to discover the benefits of engaging online with its customers and potential consumers.
Banks throughout the country are putting new practices in place to comply with an onset of new federal regulations prompted by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act and other post-meltdown rule changes. Those expensive efforts are sparking major changes and concerns for some of the Capital Region’s smaller lenders.
I am no fan of Measure U, the voter-approved sales tax that went into effect in April. New taxes are rarely the answer to economic malaise.
As demand increases for U.S. products in China, government leaders in the Capital Region and across the country are making a push to foster connections between small, local businesses and the world’s fastest growing consumer market.
Among the many risks involved in commercial real estate lending today, energy risk is so poorly understood that lenders simply do not have the tools they need to measure it. This ignorance of energy risk — the likelihood that higher energy costs compromise a building owner’s ability to make their mortgage payments — leads to inflated loans. This is because both efficient and inefficient buildings are judged the same in the eyes of the lender. But UC Berkeley researchers have developed a tool they claim would measure the net benefit of energy savings investments.
Banks are running up against some odd new competitors these days. Big box retailer Costco is advertising mortgages. Wal-Mart has issued its own debit card. Amazon is offering loans to merchants in its online marketplace.
“Small Market, Big Heart” tells the story of the Sacramento Kings and their fans’ fight to hold onto the team. But the 80-minute documentary — packed with NBA archive footage and interviews with Kings’ executives, local politicians and sports entertainment personalities — isn’t from the NBA offices or an established production company.
Congratulations Sacramento. You finally got the economic recovery you’ve been asking for.
It’s not as big or fast as you had wished for, but give it time. It should get stronger as we move toward 2014.
On a morning in April, eight representatives of local banks and credit unions walked into the Sacramento Metro Chamber headquarters to discuss the region’s lousy credit situation.
When Dr. Dena Davidson graduated from the UC Berkeley School of Optometry in 1995, she thought her income expectations were pretty reasonable.
Joining the 1 percent really isn’t that difficult.
Jeff Michael, 42, is the director of the Business Forecasting Center at the University of the Pacific.
The past few years have seen the biggest social upheaval against the banking industry in this nation’s history, and Capitol Hill lawmakers responded with 848 pages of legislation that liberal critics deride as weak and many conservatives call a job killer.