03Dec 2018 by Galen
2018 year end planning

2018 year end planning

Insurance, Investing, Personal Finances, Running a Business, Taxes
There’s one month left in 2018! So, what should you do for your streaming business and personal finances with the last month of 2018? Unfortunately, there are some opportunities that close off at the end of the year. Fortunately, you’ve still got time to implement them! Business Create a Profit and Loss (P&L) A P&L documents what your business has earned and spent this year. I wrote more in depth about it here. The main importance of this document is the information it gives you. With an accurate P&L you can make good estimations on any tax you might owe, what you can pay yourself, can find areas of improvement, and can compare against previous years to track trends. Cash flow is the lifeblood of your business. Don’t neglect monitoring…
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23Oct 2018 by Galen
What to do with old 401(k) plans

What to do with old 401(k) plans

Investing, Personal Finances
If you’ve ever changed to a new job it can be hard to decide what to do with your old 401(k). Do you leave it as is? Roll it over into a new 401(k)? Roll it over to an IRA? Pull it out all together? Let’s dive in to your options. This is something that’s relevant for pretty much anyone who worked for a company that offered a 401(k) plan. If you’re a streamer then you might eventually open your own 401(k). If you’re in the gaming industry you probably have a decent option at your company. Most young professionals working for larger companies have some sort of plan. Decision Criteria There’s no one answer to if you should roll over an old 401(k). Instead, you need to consider a…
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