Most architectural firm owners and managers must address critical priorities in addition to the business of architecture. These include managing taxes, attracting and rewarding valued employees, and establishing a long-term strategy to ensure their own financial security. Fortunately, as a firm owner, you have an option that could help to address all those goals: sponsoring […]
Many Architects who are actively planning for retirement in the next 5 to 10 years are members of the Baby Boomer generation. The Baby Boomer generation is defined as those born between 1946 and 1964 and there are an estimated 76 million Baby Boomers in the United States based on the 17th Annual Transamerica Retirement […]
A new year is an excellent time to consider how you’re doing financially and set goals for the year ahead. Pursuing your goals may be easier when you focus on one specific priority each month. This calendar of ideas will stimulate your thinking about dollars-and-cents objectives.
Millennials can potentially have a comfortable standing for retirement. Many may believe they will never accumulate a million dollars in their lifetime because they face significant financial burdens, particularly as architectural students and emerging professionals. However, millennials can start saving early, gradually increase contributions to their plans, and achieve a comfortable retirement.
There are many threats to our future, and many are beyond our control, but we hedge against them. We rely on our military to protect us from national security threats. We rely on the FDA to protect us from foodborne pathogens and the CDC to protect us from communicable diseases. We each pay for all […]
The AIA will soon require that you “opt in” to any emailed subscription you receive. While many readers of the AIA Trust quarterly newsletter, Managing Your Risks, have subscribed, some members receive it based on their status as a firm owner or manager. To ensure you continue to receive the quarterly risk management newsletter, sign […]
Now that tax season is over, it is an ideal time to take a closer look at your financial structure and tidy up where needed. Here is an easy way to help you get on track for your future.
Sometime around the age of 50 or thereafter, we start to think more seriously about retirement. After all, the kids (if we have them) are out of the house or relatively self-sufficient, we’re at the peak earning stage of our careers, and thoughts of soon having time for whatever we please are becoming more and […]
Are your savings goals on track? The third week of October marks the beginning of National Save for Retirement Week, a national effort dedicated to raising awareness about the importance of saving for retirement. Considering the state of retirement savings in America, it’s a perfect time to reflect on your personal retirement goals.
As an architect and possibly a firm owner, you work long, hard hours to maximize revenue and manage costs. You wouldn’t think of overpaying thousands of dollars for labor or building supplies, or letting cash go unaccounted for, but unfortunately when it comes to retirement plans, many firm owners leave a lot of money “on […]