What types of characteristics does an entrepreneur need to start a new business?

To be an entrepreneur you need:
Smarts
Stubbornness (never give up)
Curiosity
Energy
Dreams
Nerves
Confidence
Creativity
Plans
Ideas

New Entrepreneur

New Entrepreneur

What is the best way to invest for a new entrepreneur?

I have a year old business that is doing well. Now I want to know the best way to invest some of the profits to reap tax benefits but also diversify to cover for kids, retirement and emergencies.

For tax purposes, one of the best way is to open a Self Employment 401K especially if you are running a one person business (or a husband and wife). This is a special type of 401(K) plan is now available to self-employed individuals and owner-owned businesses.

The Self Employment 401(K) plan allows a self-employed individual or business owners with no employees other than a spouse to open and contribute to a Self-Employed 401(k) plan and receive a tax break from the contributions.

It allows you to substantially reduce your current income taxes because generally, you can deduct the entire amount of your plan contributions from your taxable income each year.

Some self employment 401K plans even allow for reinvestment into real estate though some plan providers such as Fidelity does not allow real estate investments.

New Entrepreneur
The New Entrepreneur: Protecting Intellectual Property

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