Moore Wealth

As I said a couple weeks ago, I want to start being a bit less dependent on the local news feeds and start to try to generate some of my own newsworthy posts. A few weeks ago I sent a requests to complete a “Blogterview” questionarie. I actually have one that has been returned (last week actually, but I was lazy and haven’t followed-up).

I was introduced to Shabri shortly after moving into the incubator program here at FITCI. It seems that many entrepreneurs need financial advice and Shabri & company is almost like our surrogate investment advisory committe.

So I posed a few straight forward questions:

Fredcobio: What is the single most important thing a person can do with their money, aside from spending it?

Moore Wealth: Investing it. But of course, I’m going to say that!

Fredcobio: If a person wants to start their own business, what (free) advice would you give them?

Moore Wealth: Take the time to write a business plan.

Fredcobio: What is the biggest mistake people make when they start a business?

Moore Wealth: Not writing a business plan. It doesn’t have to be complicated. A quote from the movie Pirates of the Caribbean sums it up nicely “they’re really just guidelines you know”.

Fredcobio: If you were 40 years old (with a spouse and two Middle school aged children) and got laid off today and had $100,000 in your 401K plan, what would you do with it?

Moore Wealth: Roll it over into an IRA that you control. Just like you would never leave money in a bank account when you move from one city to another, never leave money in a company that you no longer work for. Then find a job!

Moore Wealth took advantage of my offer for Free Advertising a while back.  There may be a couple more added to the list and I have been approached by some people actually offering to pay to sponsor the blog!  I would like to find someone to sponsor BioBeers, but we can wait for the third or fourth one for that.