Ask any successful business owner the key to success, and he or she will likely tell you that you can’t do it alone. As entrepreneurs, we know we can’t possibly do everything ourselves. So, we delegate, outsource, or invest in resources that will help us reach our goals more effectively. But this mindset doesn’t always …
There is a “recipe” for creating a successful intergenerational transfer. It isn’t the only recipe that works, but because it depends on six carefully chosen ingredients, its chances for successful completion are greater than others. If any of the following six ingredients is compromised, or worse still, missing, the result will change. Ingredient 1: Parents must …
As you consider your business exit, you may find that approaching it alone is prohibitively challenging. You may also find that some of the advisors with whom you’ve worked don’t have all of the skills, tools, and strategies necessary to help you exit on your terms. While planning for your future is the key, you know that results are …
Most business owners are considering several options for the future of the ownership of their businesses. If you’re keeping your options open, that is typical. But business owners who end up selling their businesses to an outside, unrelated buyer often report that they wish they had known more about what the sale process would be …
How to Be Sure You Are Leaving Your Business in Good Hands Read More »
What is a Key Employee? Key employees are those who have a direct and significant impact on business value, meaningfully participate in the business’ strategic future, and whose combination of skills and experience would be exceedingly difficult to replace. Why would you sell to you key employees? One reason you may want to sell to a key …
When we talk about planning for the future, we often talk creating a plan. The idea of creating something as big as a plan for the future can imply a ton of from-scratch work (as is often the case), which can cause you to want to put that ton of work on to another day. …
Did you know?If you hire a brand-name advisor, they are most likely accountable to the shareholders of their company. That means they need to focus on generating profits. So they may put the company’s interests in front of yours. In fact, it’s perfectly legal. Is that common?Is it common for brand-name advisors to put the …
Are you safe in the hands of financial advisors? Read More »
More Americans are leaving the U.S. to chase retirement dreams abroad than ever before. Though it’s hard to estimate the exact number of expat retirees, the Social Security Administration sends over 680,000 monthly checks overseas.1 For many, the main reasons are cost or a better lifestyle – with services such as housekeeping, cooking, and home …
Some people think they can wait until March to worry about taxes. Wrong. The end of the year is a perfect time to make some last-minute efforts to reduce your tax burden. Advice this year is a little different, as no one is quite sure what 2019 will bring from a tax code perspective. Things may …
Act before year end to minimize your tax burden. Read More »
All investments carry a tradeoff between risk and return—generally, the higher the risk, the higher the potential return—or loss. Conversely, the lower the risk, the lower the potential return or loss. The goal is to find the right level of risk that provides the returns you need, while letting you get a good night’s rest. …
Tired of Tossing & Turning? Know Your Risk Tolerance Read More »
Education Savings Vehicles Save early, save often and understand the alphabet soup of options The cost of a college education increases every year, largely unbeknownst to you until you receive the bill. The pile of money you must save is staggering. If you have children, plan for college costs as soon as possible. Children are …
The year 2005 was when I first began to manage client’s investments. The ensuing few years afforded me the false pretense that I had a grasp of things. Then it hit, the S&P 500 declined (53.0%) from October 15, 2007 to March 2, 2009. And (38.0%) of that loss occurred in one calendar year, 2008. …
