Mistakes Entrepreneurs Make Planning for Their Children’s Future
Summary
New entrepreneurs often make three key financial mistakes when planning for their children’s future. First, they mix personal and business finances, which undermines eligibility for formal savings or matching grant programs and distorts cash flow visibility. Second, they neglect tax planning, ignoring how entity selection, timing, and compliance affect both business profits and contributions toward children’s education. Without strategic tax foresight, unexpected bills can erode early savings when compounding benefits are most crucial. Finally, they fail to build an emergency fund, leaving them vulnerable to irregular income fluctuations. Without reserves, they must choose between sustaining the business and investing in their children’s security and education.
The Startup Magazine
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