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Financial Planning for Business Owners

Planning for Entrepreneurial Life

The decision to start to launch your own business is a lot more than a career change. It’s placing a bet on you, that you can create something better for yourself and your family. 

From one business owner to another, we’ve seen why it matters that your financial planner understands your unique needs and advantages as an entrepreneur.

What Makes Your Financial Plan Unique?

Business owners have a very different day-to-day than most employees. They’re often big-picture thinkers with goals and ambitions for their business. On the other hand, they have a seemingly endless list of detailed tasks on a variety of fronts to keep their business operating smoothly.

As a result, business owners can fall into the trap of neglecting a confident, clearly-defined plan for their personal financial future. Due to having limited time and limitless tasks, it’s all too common that business owners’ personal financial circumstances fall prey to critical knowledge gaps.

On a more positive note, even business owners who have the basics of financial planning solidly covered often miss financial opportunities that are unique to their vocation as an entrepreneur. In either case, the need for trustworthy, specialized financial advice arises.

A Business Owner's Perspective on Financial Planning

At Vizionary Wealth Management, we specialize in financial planning for business owners for a variety of reasons.

For starters, when you work with Vizionary Wealth President Wayne Wagner Jr., ChFC, you aren't just working with a seasoned financial advisor. You're working with a business owner and investor. Wayne's breadth of personal entrepreneurial experience affords him a unique perspective into both financial planning and the life of a business owner.

Due to Wayne's propensity for helping business owners, many of Vizionary Wealth's clients are and have been entrepreneurs. We provide prospective for the decisions ahead that seek to help minimize risk while maximizing the potential of your life's investment.

Ways We Help Business Owners

In addition to the basic principles of a sound financial plan, there are a few areas we will look at with you to help make sure you are on track regarding the unique aspects owning a businesses. We'll help explore areas like:

  1. Helping you find a balanced salary that secures tax advantages without compromising long term savings goals.
  2. Working with you to create and implement savings strategies for short, medium, and long term benchmarks like home purchases and your children's education.
  3. Reviewing your cash and debt positions if your business involves start up investments.
  4. Assessing your risks and reviewing your insurance strategy.
  5. Staying on track for retirement through the ups and downs of your business.
  6. Balancing your financial risk in business with your risk tolerance in your portfolio.
  7. Identifying the best succession plans to preserve the continued value of your business.
  8. Organizing your estate to take business assets into account and protect your loved ones.

Perspective for the Decisions Ahead

At Vizionary Wealth Management, we are here to provide perspective for the decisions ahead. When it comes to your business, we're here to help you maximize the value of all that you've poured into it along the way.

From day-to-day life to your plan for toes-in-the-sand financial independence, we're here to walk with you every step of the way.