Retirement Planning for Business Owners

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piecing-retirement-puzzle-pathBusiness owners must not only wear many hats, often they are:

  • the active managers of the business
  • heavily invested in the business
  • running a privately-held business that has no secondary market for the sale of ownership interests
  • relying on a small number of important key accounts and suppliers
  • relying on a single ongoing source of business credit that is vital to continuing business operations
  • limited in the resources that are available to provide employee benefits

While many who are not business owners often fail to do any formal advance planning before actually approaching retirement, successful business owners are usually comfortable with the planning process as an integral component of their business operations.

Integrating business and personal planning, however, is often overlooked.   For example, how does a business expenditure impact the value of the business and how will that impact the owner’s retirement  plans, access to credit and financing, or the valuation of the business for a future sale?

A couple of tools you might find helpful in beginning your planning are:

Knowing the value of your business can be quite helpful and an informal valuation need not be expensive.  There are a number of methods available:

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You might check out our short report, What’s Your Business Worth?   You can also obtain a sample valuation report by clicking below. 
Click Here to get your Sample Business Valuation Report
If you’d like to schedule an introductory call with me, you can do that here.

Interested in becoming an IFG client?  Why play phone tag?  Schedule your 15-minute introductory phone call!

Jim Lorenzen, CFP®, AIF®

Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® in his 21st year of private practice as Founding Principal of The Independent Financial Group, a fee-based registered investment advisor with clients located in New York, Florida, and California. He is also licensed for insurance as an independent agent under California license 0C00742.  IFG helps specializes in crafting wealth design strategies around life goals by using a proven planning process coupled with a cost-conscious objective and non-conflicted risk management philosophy.

Opinions expressed are those of the author.  The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriate licensed professional.

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20-Minute “Right Fit” Introductory Call Now!

Jim's picture
Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® in his 21st year of private practice as Founding Principal of The Independent Financial Group, a fee-based registered investment advisor with clients located in New York, Florida, and California. He is also licensed for insurance as an independent agent under California license 0C00742.

Schedule Your 20-Minute
“Right Fit” Introductory Call Now!