Now that the forum has helped me with my retirement fund situation, I have another question to present.
I'm a small business owner and my doors have been open for for almost two years. Business isn't booming, but it's healthy and turning a profit. We have a good portion of our initial capital investment remaining and currently sitting in our business checking account.
So my question is, how can I put that money to work for us while also maintaining fluidity in case...?
For discussion purposes, let's say I'm working with $5,000-$10,000.
1) You say you are profitable, what's your salary from the small business?
2) What does business school 101 say about cash?
3) Are you asking a bunch random people on the internet who know nothing about you or your business how to invest this money? Should you, as a business owner, know how to reinvest this back into the business? Or are you asking about a high yield savings?
$5k to $10k is peanuts. I'd leave it in the checking account if I was a small business owner.