Approximately 85% of startups survive their first year in business and of those, less than 70% survive their second year in business. By the 5th year, that survival rate is down around the 50% mark. But there are several things you can do to arm yourself for success.
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“Let’s all sit around and think about what happens if we die”, said no one ever. But like taxes, death is an unavoidable part of life and when the time comes, you need to make sure your intentions are known. Even if you do not have many assets or a million dollars in the bank, not having an estate plan is highly likely to put your family through a significant amount of stress when they are already grieving their loss of you.
Many people find it uncomfortable thinking about a will and planning for a future you’re no longer a part of, however it makes it much easier for your loved ones in the event of your death. But the sooner you do, the sooner you can relax knowing your affairs are in order so you can get back to that Bucket List!