Skip to main content

Month: December 2024

Business Valuation and Retirement: How to Assess Your Company’s Worth for Future Planning

Written by Jeff Diamond on .

Learn how to assess your company's worth with key business valuation methods and steps to help plan your retirement.

Retirement planning for business owners is a journey unlike any other. While traditional employees may rely on pensions or 401(k)s, entrepreneurs often see their business as their primary retirement asset. But how do you transform the value of your company into financial security for the years ahead? It all begins with understanding how to assess your company’s worth. This crucial step not only helps you plan for the future but helps your hard work and dedication translate into the financial legacy you deserve.

Read on to explore the importance of business valuation in retirement planning, the methods used to calculate a company’s worth, and actionable steps to prepare for a more seamless transition into retirement. Whether you’re a small business owner or the head of a thriving enterprise, this guide offers practical insights to help you navigate this critical process.

Continue reading

What GRANDPARENTS Don’t Know About 529 College Savings Plans

Written by Zachary Morris, CFP® on .

IIn this video, we’re diving into everything grandparents need to know about 529 plans—a powerful tool for supporting your grandchildren’s educational future. 529 plans are tax-advantaged savings accounts designed for education expenses, and they offer unique benefits that can make a big difference over time. But there are important rules, benefits, and strategies to be aware of if you’re a grandparent looking to contribute to your grandchild’s college fund.

By setting up or contributing to a 529 plan, you can help reduce the financial burden on your children’s family while potentially lowering the value of your estate. We’ll discuss how 529 plans work and explain the key features that make them beneficial for grandparents looking to invest in their grandchild’s future. I’ll break down tax advantages, contribution limits, and the impact on financial aid eligibility, so you can make the most out of each dollar saved. You’ll also learn about the flexibility of 529 plans, including options if funds go unused or if you want to change the plan beneficiary. With these insights, you’ll have the tools to make informed decisions and support your family in a meaningful way.

Save on Taxes by Gifting Money Strategically!

Written by Zachary Morris, CFP® on .

In this video, I’ll explain simple steps for transferring wealth to the next generation without the need for complex estate planning. By planning strategically, you can use these straightforward strategies to lower your taxable estate and allow your loved ones to benefit from your assets now, sharing in that impact while you’re still here. Effective wealth transfer is more than just inheritance—it’s about building a legacy that supports your family in meaningful ways during your lifetime.

We’ll discuss tax-efficient gifting strategies that make it easier to share your wealth without adding unnecessary tax burdens. Key topics include lifetime gift exemptions and how they can be used to maximize wealth transfer and allow assets to grow outside your estate, as well as simple strategies for transferring wealth to the next generation. Together, these approaches help your hard-earned assets make the greatest impact on your family’s future.