Planning for Business Owners

Growing a business is a difficult undertaking today as business owners must comply with a myriad of tax laws and regulations while trying to effectively create products or services, manage their employees, develop and cultivate clients, and do so profitably.

Often times business owners are too absorbed in their business to focus on their own financial needs. Moreover, they may overlook key planning considerations that could help their business grow and prosper. 

For many business owners, their business is their primary retirement asset.  After many years of building a successful business they expect a liquidity event will fund their retirement. If you are relying upon your business as your sole means of retirement, you run the risk it may not attain the value needed to live a fruitful retirement. Businesses can fail. Businesses can lose value in certain economic cycles. The timing is not always right to sell a business. Many times the true value of the business lies in the talents and good will of the business owner who won’t be around to run the business after he retires.  

Business owners today must prepare for retirement with the same level of diversification recommended for any retirement plan. Business owners have access to a number of qualified and nonqualified retirement plan options that can provide a cornerstone for their retirement income needs.

For more information on Business Owner Planning, please contact us today.

Thrive Wealth Management, LLC’s (Thrive) web site does not represent an offer of or a solicitation for advisory services in any state/jurisdiction of the United States or any country where the firm is not registered, notice filed, or exempt.  Thrive provides advice and makes recommendations based on the specific needs and circumstances of each client.  Clients should carefully consider their own investment objectives and never rely on any single chart, graph or marketing piece to make decisions. Thrive is not a broker dealer and does not offer tax or legal advice. Please consult your tax adviser or legal counsel for assistance with your specific needs.

Thrive Wealth Management, LLC works as your personal financial advisor or financial planner, offering you a wide range of services such as investment management, retirement planning, insurances, succesion, retirement, tax, small business and many more. We proudly serve clients from King of Prussia and Valley Forge PA, as well as the surrounding communities.

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