How to Start a Business During Retirement As One Chapter Ends, Another One Begins
During your retirement, some of you may enjoy the additional free time by spending it with your grandchildren, crossing off items on your bucket list, or just relaxing. However, some of you may want to stay active during retirement and continue to have additional income rolling in. If that’s the case, then creating a business may be exactly what you need. As you begin considering whether creating a business is the right career path for you, please consider these three tips while brainstorming. MAKE SURE YOU HAVE ENOUGH MONEY SAVED UP. Creating a business is expensive. Therefore, looking at your financial situation and seeing if you can afford it is best. You want to consider all factors, such as the costs to rent a building, creating a logo and trademark, developing a website, manufacturing expenses, and more. CONSIDER YOUR HEALTH. Owning and operating a business is a heavy responsibility! Reach out to your health care providers to conduct physicals and exams to see if you can take on this demanding role mentally and physically. DEVELOP A PLAN. Retirement is seen as the end of one chapter. But you’re using your retirement to open a new book! Outline what business you want to create — is it based on your hobbies and passions? Then, begin
creating steps and goals to help you during your journey. When you have a solid plan in place, it can assist you as you move further along.
HOW DO YOU REGISTER YOUR BUSINESS? To become a legitimate business in Ohio, there are a few things you must do: • Register your business with the Ohio Secretary of State. • Obtain a federal Employer Identification Number (EIN) through the IRS. • Open a business bank account with your new EIN. • Register with the Ohio Department of Taxation. • Report new hires to the Ohio New Hire Reporting Center. • Apply for workers’ compensation insurance. • Determine if you need an Unemployment Compensation Tax Account. • Obtain any licenses or permits. Developing a business is exciting! But you can’t do it alone — it’s a time-consuming process that can become very stressful. Therefore, reach out to your family and friends for assistance and advice. Your team at DuPont and Blumenstiel would be more than happy to help you during this time. We can help you register your business, obtain loans, and help you create a financial plan that will support you as you chase your dreams. Please call us today for more information!
SUDOKU
EASY FRUIT DIP
Inspired by InspiredByCharm.com
Spring is here, which means it’s time to enjoy fresh fruits and refreshing treats! This recipe has only four ingredients and can be made in under five minutes, so it’s great to bring to parties or make before a quick get-together. We recommend serving it with strawberries or cut-up pineapple, mango, and honeydew.
INGREDIENTS
1 7-oz jar marshmallow fluff
1 cup vanilla yogurt
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1 8-oz package of cream cheese, softened
Splash of maraschino cherry juice
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Fresh-cut fruit of your choice
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DIRECTIONS
1. In a bowl, place all the ingredients except fruit and blend with a hand mixer until smooth.
2. Cover bowl with plastic wrap and refrigerate for 1–2 hours before serving.
3. Serve with fresh-cut fruit. Dip and enjoy!
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