How Do You Want to Retire From Your Business?

To gain a better understanding of my client’s long-term financial needs I like to ask them 7 basic questions:

• 1. At what age do you want to retire from running your business?
• 2. How do you want to live out your retirement?
• 3. How much money do you need in retirement?
• 4. Do you want your standard of living to go up, go down or stay about the same?
• 5. Do you want to travel?
• 6. Do you want to pay off your home?
• 7. Do you have any long term care coverage in place?

These are questions that you may have thought about yourself, or maybe you haven’t. As a business owner it's easy to become enveloped in the day to day of growing and operating your business. Although retirement may not be paramount to your everyday thought trail, we can never downplay the importance of proper retirement planning. Many small business owners don't have the luxury of an employer sponsored qualified contribution plan. Considering the looming $3.3 trillion dollar social security deficit, the uncertainty of the stock market, and low bank interest rates barely growing your savings, it can be difficult to foresee a stress free retirement for yourself. 

But there’s still hope. I help my clients avoid financial ruin in their retirement by showing them how to create guaranteed lifetime income plans. These plans provide steady growth that is indexed with the market, offer tax-free and tax-deferred earnings, and protection from market volatility. 

I can do the same for you. If your retirement is a concern, and you’re not entirely sure how you’re going to live a life free of financial stress after you step away from your business, contact me today and let’s create a solution.