Financial Tips for the Self-Employed

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WAXHAW, NC – Have you recently become self-employed, or are you thinking of doing so in the near future? If so, how can you get on the road to financial security?

First, establish a budget – when you’re starting out on your own, you need to keep tight control over where your money is growing.

Also, set up a retirement plan, such as a SEP-IRA or an “owner-only” 401(k). But while you’re saving for tomorrow, you can’t forget your needs for today, which is why you should gradually build an emergency fund containing a few months’ worth of living expenses.

And, as soon as possible, try to whittle down any outstanding, high-interest debts.

One more suggestion: Consider the need for the appropriate amounts of insurance. Depending on your line of work, you may or may not need business insurance, but if you have anyone depending on you, you should certainly consider the need for life insurance.

Finally, don’t forget to set aside money in a separate account to pay your quarterly taxes.

Self-employment can be quite fulfilling – and you’ll find it even more rewarding when you make the right financial moves.

Dylan Hales – Edward Jones Financial Advisor

(704) 684-0103  Member SIPC

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Dylan Hales
I'm a native North Carolinian, who grew up in the eastern part of the state. My folks exhibited and instilled many of the values that I still hold close to today. I had the opportunity to earn a bachelors from NC State, which is where I met my wife. We married shortly after she graduated in 2016. She grew up in this area, so we moved back to the Wesley Chapel area so we could be close to her family. Folks here have been more than welcoming and have made it feel just like home (minus the eastern NC BBQ).

People often ask what I like to do when I'm not at the office. That mostly depends on what time of year it is. During the spring and summer I like to work on my garden. During the fall and winter I love keeping up with NC State football and basketball. We also have two rescue dogs who like to explore the state with us.

Since I've been in Wesley Chapel, I've noticed that most folks just like me. We're all from somewhere and we've all come here following the things we love. I want to understand what those things are for you, and help get you there.