John Smallwood on Retirement Tips Radio
This episode was drawn from John’s appearance on Retirement Tips Radio with Lee Kantor, a product of RadioX. John and Lee’s conversation was aimed at helping entrepreneurs prepare for retirement—even if it’s a long way off.
Don’t miss John’s retirement tips:
- You can structure your business in such a way now that maximizes its value. As a result, by the time you sell, you can have a reliable source of retirement income.
- A good financial plan for your business shores up leaks that arise from improperly structured business agreements, missing business tax breaks, and disorganized insurance policies.
- Making sure your partnership agreements keep all parties contributing their fair share is also crucial to your business’s financial health.
- Another area to scrutinize is personal guarantees for business contracts, which put your personal finances at risk.
- Creating separate personal and business financial plans can help keep your personal and business finances healthy. It also prepares them for future changes. In addition, it positions them to provide you with the retirement income you will one day need.
For more, listen here. Then download our up-to-the minute guide, Eight Steps of Financial Success, which brings together everything we want to achieve in the financial planning process. These steps can be applied to both your personal plan and your business plan.
You’ll find many other great resources on our website, such as 19 Sources of Retirement Income, which offers ways to increase your existing retirement income. You’ll also see links to my books, It’s Your Wealth, Keep It (my newest publication) and 5 Ways Your Wealth is Under Attack.
If you are new to Smallwood Wealth, schedule a Wealth Curve Conversation by clicking this link.
You can also connect with us on social media, or call us at (800) 797-1000. Set up a free, no-obligation 30-minute phone call with a qualified advisor. Let’s discuss your business’s financial plan as well as your personal retirement plan.