Everyone has a legacy. We all have values, assets, and wisdom that we work to share with those around us each and every day. Having a plan to increase the longevity of this impact means that the gifts you leave behind reach more of the people you love.
56% of family business owners are either unhappy with their succession plan or don’t have one at all. Major concerns include the legacy of the business owner and the security of the business. This puts significant pressure on your business, creating hostility and instability.
Think back to the last time you took a close look at your investment portfolio. What goals did you have in mind at the time? What financial needs did you have? Do these factors represent what you need today? The average investor lost ~1% per year in return due to behavioral mismanagement of their investments.
As a hands-on business owner, so much of your time is spent working IN your business, increasing profitability, managing risks, strengthening marketing, managing the day to day responsibilities. None of these are bad things per se, but they can often hinder the time you spend working ON the business in preparation for the next generation.
The ACA imposes a dollar limit on employees’ salary reduction contributions to health flexible spending arrangements (health FSAs) offered under cafeteria plans. This dollar limit is indexed for cost-of-living adjustments and may be increased each year.
Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through GFS Wealth Management Advisors, Inc. (GFS). Kestra IS is not affiliated with GFS or Ganim Financial. Ganim Financial, GFS and Kestra IS, do not offer tax or legal advice. Any decisions whether to implement these ideas should be made by the client in consultation with professional financial, tax and legal counsel.
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