I am not looking forward to the first few weeks of January. The weather in Iowa is less than ideal (no bathing suits needed), but after 40+ years I have gotten used to it. What I haven’t gotten used to are the long lines at the health club. Exuberant, well-intentioned masses flood the facilities determined to lose weight and get fit–confident that they will defy the odds and actually keep their New Year’s resolution.
The majority of people will lose steam after a week or two and the lines will gradually disappear. In fact, losing weight and getting fit is the most commonly broken New Year’s resolution. Don’t break that resolution? How about one of these others?
The top ten most broken resolutions are…
- Lose Weight and Get Fit
- Quit Smoking
- Learn Something New
- Eat Healthier and Diet
- Get Out of Debt and Save Money
- Spend More Time with Family
- Travel to New Places
- Be Less Stressed
- Drink Less
I would like to offer up a different (or additional) New Year’s resolution for 2013:
I resolve to learn more about Employee Stock Ownership Plans (ESOPs).
ESOPs are a flexible tool that allows a business owner to sell all or part of their company on a tax advantaged basis. Yet, most business owners are unaware of the plans and those that hear about them for the first time often treat the plans like getting fit and losing weight,–
The Principal Finanical Group® has posted a short video on the YouTube channel (11 minutes 18 seconds) that highlights ESOPs and why business owners should consider them as part of their succession or diversification strategies. I would encourage you to view the video as part of your 2013 New Year’s resolution.
In addition to blogging here, I also tweet regularly about topics of interest to ESOPs. Click to follow me on twitter- @jlripperger.
No investment strategy, such as asset allocation or diversification, can guarantee a profit or protect against loss in periods of declining values. Company stock is not a pooled investment. Stock may experience greater volatility and should not be directly compared to investment options that have a more diversified investment mix. It is not intended to serve as a complete investment program by itself.
Insurance products and plan administrative services are provided by Principal Life Insurance Company a member of the Principal Financial Group® (The Principal®), Des Moines, IA 50392.