As entrepreneurs, many small-business owners are comfortable taking risks. But their business is often their biggest asset, as well as the largest source of their household’s income, which means it’s especially important for them to follow basic personal finance and investing guidelines. Not doing so can cause business owners to take on too much risk and endanger their business and income.
Here are three tips that small-business owners should use to guide their personal-finance and investing decisions.
1. Establish an emergency fund
2. Diversify
3. Customize your investments
Working with a professional can help you factor in all of your investment holdings, determine your right time horizon, evaluate your risk tolerance, and weigh your options against your current holdings to help you select an investment strategy that is tailored to you.
Raj Isaac Abraham
Entrepreneur
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