Small business advisors: help your clients design their ideal "retirement"
By Brett Anderson
St. Croix Advisors
Being an entrepreneur is a way of life and a lifestyle that entails good old plain hard work.
Most business owners start their companies to take control of their future. While setting the course for your own life is exciting, we’ve talked to many business owners who said it isn’t always easy. When starting out, business owners often experience their own unique struggles, discovering that creating financial freedom and success doesn’t happen overnight.
Along with working on protecting and enhancing wealth, business succession and retirement options are important elements of any long-term business plan. We have found that many business owners don’t strive to retire by age 60 — not because they lack the financial resources to do so comfortably, but simply because they love their way of life. They get satisfaction from running their business and can’t imagine not being involved on a daily basis.
Many business owners want to discover what alternatives they can create or design for their “retirement.” Taking control of your finances is about creating choice, it provides your family and business greater opportunities to thrive.
Each and every one of us has 365 days a year, and we each have a choice in how we use them. What creative options for managing this scenario are your "retired" business owner clients taking advantage of?