Financial planning for business owners has its own complexities. In addition to preparing for important life events and getting ready for retirement, the business owner has some special concerns.
Where are you on the road to financial independence?
The business owner needs to know if or when it is possible to achieve financial independence. The tool we call The Four Boxes of Financial Independence helps you, the private business owner, understand where your income will come from when you stop working. The four boxes are
| Your business | Your 401(k) plan (or other qualified plan) |
| Investment real estate from which you operate your business | Your other investments |
Discussion of the Four Boxes leads to other concerns. When would you like to leave your business? What will be the financial impact of leaving your business? Our business planning process, the Objective Review, helps with discovery of your long-term goals and aspirations.
The Periodic Table of Business Planning Elements lists strategies used throughout the wealth management process for business owners.
Selected Tools:
- Objective Review
- Periodic Table of Business Planning Elements
Articles
The above tools, techniques and resources are listed as examples. Your Stage2 Advisor will work with you to identify the right strategies for you depending on your specific life goals and financial goals.