Retirement Planning

The process for setting a plan, in almost any endeavor, begins with knowing where you want to be – or what goals you would like to achieve. To reach your goals it is equally important to know where you currently are.

In order to answer the question “can I afford to transition my business?” we first need to know your personal financial situation. In other words, is there enough money saved outside the business to provide financial freedom. In the case of most owners the majority of their wealth is locked in their private business. We want to determine the following:

• What you currently have saved outside the business.
• What other sources of income are available to you today (and in the future).
• What your lifestyle expenses are today and are expected to be in the future.
• What the difference is between what you have for assets and income versus what you need for personal living expenses – we call this your personal Value Gap.

The Value Gap analysis will provide us with an overview of your current financial situation as it relates to being financially free from your business. As part of this process we will discuss and review the following:

• Your existing lifestyle and how much the business pays for personal expenses.
• Your current savings, investments, and savings habits, as well as, your current and projected sources of income (such as real estate, social security, pension income, etc.).
• Your comfort level with projecting certain estimates of return on investments and growth of your liquid assets to complete the Value Gap calculation.