Here, we highlight a few strategies we recommend to our business owner clients. While these strategies may not be new, we believe it’s always beneficial to revisit them.
A key aspect of effectively managing a small business is establishing a retirement plan that is appropriate for your organization.
As recently as 50 years ago on family farms and ranches across America, it was common to see two or even three generations actively involved in running the enterprise.
As a wealth management firm, we have long preached the benefits of owning shares of public companies as an investment vehicle to build long-term wealth. We are clearly not alone in this endeavor. There are many news agencies and television programs that spend countless hours debating if and when investors should buy and/or sell certain hot-topic companies.
Most clients do not expect to have an in-depth discussion about disability insurance with their wealth management advisor.
Do you have an exit strategy for your business or career? Whether you are a corporate executive or a business owner, there will come a time when you want, or need, to transition to the next phase of life. Done in advance, this can be an optimistic process, it should define how YOU want to exit. As the plan develops, there will be reality checks and alternative paths to consider, but at this point it should be a framework of how you want the future to look. If not done in advance, it will be reactive and prone to unnecessary doubt and anxiety at an already stressful time.
Do you work for an employer that granted you restricted stock units (RSUs)?
Many business owners transitioning into retirement know it can be beneficial when their younger partners choose to buy them out. However, finding a way to finance the buyout can post a significant obstacle for younger partners.
ESPP – While the acronym and the spelled-out version – employee stock purchase plan – don’t sound particularly exciting, the financial rewards can be. That’s because, under most circumstances, people whose employers (publicly-traded companies) offer an ESPP can profit by using this benefit strategically.
