Articles Posted in Retirement planning

AdobeStock_29742651-300x225Building and growing an independent family business is an accomplishment to be proud of. It takes an enormous amount of passion, ingenuity, and downright grit. Preserving and protecting your business also requires some effort, but it’s a task many business owners overlook or put off.

Business succession planning, like any kind of estate planning, is something that should be addressed with the help of a professional well in advance of the actual event. Unfortunately, the majority of family business owners are missing that window of opportunity. According to a 2016 survey from Pricewaterhouse Coopers, while 69% of family businesses surveyed expected the next generation to take over the business, only 23% had invested in creating a robust and well-documented business succession plan.

It’s not difficult to understand how business owners find themselves without a succession plan. It’s a complex and time-consuming process that involves addressing hard realities and tough questions. But, it’s also a task that’s well worth the investment of time and money in the long run.

AdobeStock_44015480-300x271Many people mistakenly assume that Social Security is a fairly cut-and-dry proposition. You turn 62 – you get your long-awaited Social Security benefits. Right?

Well, it is not that straight-forward.

It is actually a very complex system that is best navigated under the guidance of a professional who knows something about the more than 8,000 different ways to claim Social Security.

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