Next month I'm moderating an entrepreneur panel of four family businesses (five, if you count ours) and how they use innovation to grow their business.  

We have a first generation (ours), two second generation, and two fifth generation firms. Wow! It's been pretty cool learning about each of the businesses, which range from a manufacturer of fine linens (Matouk) to a premium-quality foods producer (Blount Fine Foods) to a regional real estate firm (Jack Conway). Just as you might expect, they each approach innovation very differently.  

Want to learn more? Then join me on May 10 for the SNEEF program. You'll enjoy it. Maybe even learn a thing or two.

Cheers,    

Have you checked out our brochure yet?   

Avoiding the retirement 10-percent penalty     

Recently, I received a call from a friend asking me, "How do I get at my retirement money without paying any penalties." This is an all-too-common question.

Unless you are officially retired, early withdrawals from retirement savings should be avoided. Why? It reverses retirement savings, and in many cases it is a very expensive place to take money. You will pay income tax and a 10-percent penalty. Typically, it may be better to take money from a non-taxable account or from a home equity line.

Unfortunately, in the real world, people need to take money from their retirement savings. The income tax cannot be avoided, but the 10-percent early withdrawal penalty may be avoided.