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That’s where financial planning for freelancers comes in. As a freelancer, youre your own boss, accountant, and financial planner all rolled into one. Be sure two open separate bank accounts e.g. your personal bank accounts should be separate from your business bank accounts.
Recent research 1 found that there is a large population of Americans interested in financialguidance. Of an estimated 104 million households seeking some level of financial advice, 88 million of those households want that advice from a financial professional.
Calculate potential income from investments, such as retirement accounts (401(k), IRA), and other assets. Take advantage of catch-up contributions to retirement accounts, as you’re 50 years old. Review InsuranceCoverage: Ensure you have adequate health, life, and long-term care insurancecoverage.
That’s where financial planning for freelancers comes in. As a freelancer, youre your own boss, accountant, and financial planner all rolled into one. Be sure two open separate bank accounts e.g. your personal bank accounts should be separate from your business bank accounts.
The need for sound financialguidance is universal. Whether you are self-employed or salaried, everyone can benefit from the expertise of a financial advisor. However, some professionals, like doctors, may need the guidance of a financial advisor more than others.
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