How you navigate the journey of combining finances as a couple, or the potentially tumultuous task of separating finances during a divorce, can have a substantial impact on your financial health and overall well-being.
For many people, financial freedom is within reach. However, it typically requires careful planning and discipline.
For the last several months, economists have debated whether a U.S. recession is imminent and if so, when it will take hold of the economy.
Though seller financing has its advantages, there are potential risks involved. Understanding the pros and cons of seller financing your small business sale can help you determine if it’s the right exit path for you.
If 2020 has left you feeling like the fabled Sisyphus, forever pushing a boulder up a steep hill, you’re not alone. Thankfully, with two newly approved coronavirus vaccines and others in the works, there’s hope that our load will be lightened in 2021. In the meantime, it’s always best to focus on the things we …
6 Financial Best Practices To End The Year Right Read More »
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 …
In the checkered, but always interesting, history of nepotism (as it relates to business transfer) we find that parents hope a child will take over a business for several reasons: 1. The joy of working together. (At least that’s what some owners claim.) 2. Greater employment and financial opportunities for family members than that available …
Many business owners believe they have plenty of time to create a successful plan for the future of their businesses. Most commonly, owners think that if they give themselves a few years, they can transform their businesses into whatever they need them to be: whether that means bigger, more valuable, or more easily sold/transferred. And …
Successful Planning Starts Much Earlier Than You Think Read More »
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 »
