 Wednesday morning, I ran a mile in under nine minutes. I was never a fast runner. I don’t even like running. Even in terms of keeping my heart healthy, I’d rather go for a brisk walk than run. But I do like to make goals for myself, and one of my goals that I made at the beginning of this year, to be accomplished before my sixtieth birthday in November, was to run a mile in under nine minutes. Now, nine minutes is not exactly a fast mile. There are plenty of people my age who can run faster than that. There are probably more people my age who can’t. But that doesn’t matter. Goals, to me, are personal. Somewhere along the line, I realized that life is not a competition. My goal of running a mile in under nine minutes was meant to push me, not to compare to anyone else. I was actually surprised to make my goal yesterday, I thought I was still a couple of weeks away from it. Maybe it’s the new Skechers GoRun running shoes I recently bought, with bungee instead of tie laces. They turned out to be the most comfortable running shoes I’ve ever owned. I’m not even getting paid to say that! But I got away from my point, which is this: make lots of goals! Goals to be more fit, to advance in your career, to be a better person! Long term goals and short term goals! Solid goals and flexible goals! Some of them you’ll achieve, some you won’t. The important thing is that you have something to strive for. Time is going to pass with or without your goals. There’s no way to live but to try. #MondayMotivation #MotivationalMonday #Sketchers #Goals
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 Ah, procrastination. We all do it. Even with the best of intentions, we’ll say, “OK, I’m going to do that now. Just let me do this other thing first.” And sometimes it works: we procrastinate on a project we thought we had to do, only to find out later that maybe we didn’t need to do it at all. But procrastination is not a strategy. It’s not the same as taking the time needed to analyze, it’s just putting things off. And that can cost us, in terms of productivity or missed opportunity.
So, OK, your client has been procrastinating about putting in a retirement plan. They know they have until 12/31/18 to put one in for this year. But what if they want a safe harbor 401(k)? A safe harbor 401(k) plan is often the best option for a small firm. The owner wants to contribute $24,500, but the employees only want to contribute between 3% and 5%. The plan won’t pass nondiscrimination testing. On top of that, the plan may be Top-Heavy. The safe harbor match can satisfy the Top-Heavy minimum contribution. But your client cannot adopt a safe harbor 401(k) this December. The latest date to adopt a safe harbor 401(k) for 2018 is October 1, 2018. So maybe the right time to talk about a retirement plan isn’t in a minute, it’s right now. |
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