Publication | Jul 19, 2019
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Succession
As a business owner, your priority is likely the day-to-day operations of running and growing your company, and that’s where you focus the majority of your time, passion and resources. But how much time do you spend thinking about selling the business and what comes next? Most business owners have not considered or appropriately planned for any future transition from the business, whether in preparation for retirement or for new investment opportunities, and therefore don’t know what to expect financially in the future. Financial planning can help you make certain you are ready to address your financial needs and desires after transition, such as funding retirement, taking care of family needs, managing debt, paying any insurance premiums and setting aside funds for any hobbies or travel.