The U.S. is one of the only industrialized countries without a national paid leave policy for parents.

Although, companies with >50 employees must comply with FMLA by providing up to 12 weeks of unpaid maternity leave. And while few states have a publicly-funded disability program (CA, MA, NJ, RI, or NY), no federal or state law requires companies to pay for parental leave for employees.

While larger companies have begun to voluntarily expand paid leave policies, offering competitive parental leave benefits is a challenge for small businesses who may not have the financial or labor resources to do so. This is where business owners may have to get creative.

Here are 5 strategies for building a parental leave policy for your business:

1. Utilize Short-Term Disability 
2. Offer paid time off 
3. Use flex hours
4. Allow work from home
5. Give unpaid time off

It goes without saying that these strategies may not work for all businesses, but developing a combination of these 5 to fit your line of business can improve employee wellbeing, satisfaction, retention, and morale, while also enhancing overall company culture.


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Disclaimer:
This podcast is not intended to provide financial or tax advice. The information, services and other content provided on and through this podcast, including information that may be provided in the show notes (directly or via linking to third-party sites), are provided for informational purposes only. Please consult with your tax, investment or other financial professional regarding your personal financial situation. 

Do you remember the toilet paper craze of 2020? Or the gasoline hysteria of 2021? Perhaps you were one of those people who heard about the potential shortage and immediately went to get yours. If so, this was actually a relatively normal response - and it's called "Panic Buying". 

A recent study from the Journal of Experimental Psychology looked at the behavior triggers that lead to a buying frenzy. What they found is that uncertainty plays a major role in our purchase decisions; and not just uncertainty, but more specifically, unexpected uncertainty. 

As chaotic as these situations were, it's normal human behavior. It's how we're wired to respond in unexpected uncertainty. And people often do the very same thing with investing. They see what everyone else is doing, they get scared, and make an impulsive decision out of fear, which doesn't end well 9 times out of 10. 

However, there is a way we can better manage this, so we're not simply slaves to our impulses

Find the blog version of this podcast at LuminaryWealth.com
Or check out the video version of this podcast on our YouTube channel
Follow us on Instagram @luminary.wealth
Let's connect on LinkedIn

Disclaimer:
This podcast is not intended to provide financial or tax advice. The information, services and other content provided on and through this podcast, including information that may be provided in the show notes (directly or via linking to third-party sites), are provided for informational purposes only. Please consult with your tax, investment or other financial professional regarding your personal financial situation. 

If you've ever enrolled in a 401k plan, you probably realized that choosing a dessert from Cheesecake Factory's extensive menu would have been easier than choosing from your 401k investment options. 

As your eyes glazed over while scrolling through the list of available funds, you probably encountered something called "Target Date Funds" (or "TDFs"). 

These funds have an asset allocation (split between stocks and bonds) that changes over time as you approach your target retirement year. The closer you get to that date, the less equity (risk) exposure the fund contains. 

These funds are designed for people who simply want to get their money invested without having to think about it again. And while these investment options provide an easy solution to those with limited investment knowledge or interest, they often aren't the optimal solution.

How to Think About Asset Allocation blog post

Find the blog version of this podcast at LuminaryWealth.com
Or check out the video version of this podcast on our YouTube channel
Follow us on Instagram @luminary.wealth
Let's connect on LinkedIn

Disclaimer:
This podcast is not intended to provide financial or tax advice. The information, services and other content provided on and through this podcast, including information that may be provided in the show notes (directly or via linking to third-party sites), are provided for informational purposes only. Please consult with your tax, investment or other financial professional regarding your personal financial situation.