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 …
Getting the Results You Want
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 …
How to Be Sure You Are Leaving Your Business in Good Hands
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 …
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Selling Your Business To A Key Employee
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 …
Shaping vs. Creating – A Plan For Your Business
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. …
Are you safe in the hands of financial advisors?
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 …
Is Retiring Abroad the Best Choice For You?
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 …
Act before year end to minimize your tax burden.
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 …
Tired of Tossing & Turning? Know Your Risk Tolerance
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. …
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Education Savings Vehicles
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 …
3 Ways Investment Fees Matter
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. …
Should You Pay off Your Mortgage?
To pay or not to pay…that is the question. It sounds good, right? Pay off the mortgage and suddenly you have no more monthly payments, better cash flow, and the opportunity to make other investments. After all, buying home is an investment, but owning a home is the American Dream. Right? Maybe…maybe not. While owning …
