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Business Owners Integrated Financial Plan - Michael M. McDonough, Inc.
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Business Owners


Integrated Planning

Challenges often emerge at the intersection of business and personal financial matters.  Business decisions can impact dramatically personal finances and goals, and vice versa as personal needs collide with business realities.

Running a successful business can consume inordinate time, energy, and focus, and leave you overwhelmed and concerned that, as time marches on, important things may be falling through the cracks.  Relentless ‘disruption’ and an accelerating rate of change mean things are more fragile than they appear.  Many owners embrace simplicity and welcome greater understanding and coordination of Succession-Exit-Transition options, and competent guidance on estate planning, asset protection, tax-efficiency, wealth management and retirement income strategies.

We clarify financial issues and options for family stewards, business owners, and professionals.  Our straightforward advice efficiently coordinates business and personal objectives, helps avoid costly mistakes and missed opportunities, and keeps you in control.  Isn’t it worth a discussion to see whether our proven solutions diligently delivered can help you, your family, and your business?

How We Help Business Owners

Every enterprise and situation is unique . . . . but challenges can be similar.  Here are some of the services we provide to help you protect your business and those depending on it.  It is not uncommon for those drowning in information and starved for knowledge to wish they had more compelling answers to one or more of the following questions.

“The afternoon knows what the morning only suspected.”

Robert Frost
“All business proceeds on beliefs, on judgements of probabilities and not on certainties.”

Charles W. Eliot
“Every five to seven years, people forget that recessions occur every five to seven years.”

Morgan Housel

Employer-Provided Benefit Programs So You Can Attract and Retain Employees

Who are your most valued employees?  What would be the impact if you lost any of these key contributors?  How easily / expeditiously could you find a replacement?

Are you or your key employees able to set aside enough money for retirement considering the limited contributions permitted to an employer-sponsored retirement plan?  Does your fringe benefit package help you efficiently and effectively recruit, reward and retain key employees?

Retirement Plan Design, Implementation & Operation

If your business is operated as a tax flow-through (S corp, partnership, LLC, sole proprietorship) are you aware of the heightened importance and potential double tax benefit of the deduction for retirement contributions?  Are you familiar with all your options to legally optimize your retirement plan design?

Are you aware of your fiduciary duties as Trustee to your company’s retirement plan, and the potential ramifications to not taking these duties seriously?

Risk Management – Analysis & Plan Implementation

Upon an accident or severe illness, would you be able to meet present financial obligations based on your expected income during that stressful time?

Will your spouse and other loved ones be able to maintain their desired standard of living after your death?

Personal Wealth Management

Do you have a written plan forecasting income and expenses in retirement to ensure you don’t run out of money?

What is the #1 thing you want from a financial advisor which has not been forthcoming?

Succession-Exit-Transition Planning

Do you have a properly designed buy-sell agreement that can guarantee a market and fair price for every owner should an owner die, become disabled, get divorced, or retire?  Is a funding mechanism in place?

Have you established a definite time period to transfer your business to a specific party at an established price?  Do you know what your business is worth, and the pivotal drivers of that value?

Integrated Financial Planning

Are you aware of the strategic importance of systematically removing money from the business as it’s earned, of maintaining an optimal capital structure, and of the opportunities to remove wealth from the company in a tax-advantaged way?

How will you protect assets while alive, reward your successor’s efforts, yet still be fair to other heirs?

Pension Risk Transfer

As a pension plan sponsor are you interested in strategies for inoculating yourself from a precarious funding gap and volatile pension liabilities?

Might you be interested in learning about Liability Driven Investment approaches and other ‘best practices’ to facilitate exiting the pension business in a responsible and advantageous manner?

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