As a business owner or key executive, you want the same thing as any individual-the opportunity for a good retirement
& adequate protection against the threats that potentially could rob you of an enjoyable retirement. This however
is a little more complicated as you are subject to considerable more regulations and responsibilities. I will help you
with the extra challenges you face working towards your retirement while owning or running a business.
Depending on the size of your company and the investing goals you have, this will determine the type of plan to establish
I will help you establish a plan or improve an existing plan
I will act as a Fiduciary and teach you how to act
prudently as you are also a Fiduciary as the Plan Sponsor
Frequently, as the owner or key executive, you are the largest
plan participant, but are so busy running the business, you do not have time to run the plan. You have the most to benefit
from having a good plan.
If you have a business partner who also is part owner of the business, what would happen to their share of the business
if they experienced an early passing? Without the proper planning, your new business partner could be their spouse,
their children, or both. I doubt you or they would want this to happen. I can help you eliminate this threat to
the way you would run your business. What if the person was fortunate not to pass away, but instead suffered a disability?
What plans do you have to still effectivily run your business should this unfortunate event occur?
The Buy-Sell
is an essential component of succession planning, yet is used so infrequently.
The current tax code allows you as a business owner to use corporate dollars to provide certain benefits to select employees,
but is not manadatory that you offer them to all employees. Most have current tax benefits & some will also serve
for future succession planning. Some of these are disablity insurance, long term care insurance, non-qualified deferred
compensation plans, and retention bonuses (also known as "Golden Handcuffs")
Are you planning on opening up or have recently opened your own business? In order to have as little impact
on cash flow, I will work with you each month to address a different financial planning topic and spread the fees out over
a monthly basis.
