"I'm Building My Business - But Neglecting My Personal Finances"
THE BUSINESS OWNER'S DILEMMA
You're reinvesting everything back into the company. Cash flow is tight. Retirement feels like a distant worry you'll deal with "someday."
Sound familiar?
Most business owners are so focused on growing their business that they forget to protect themselves. They don't have adequate life insurance. They haven't funded their own retirement. They haven't thought about what happens if they can't work, or if a key employee leaves.
And when something goes wrong, it all falls apart.
Your business might be your biggest asset - but if you haven't protected it properly, it's also your biggest risk.
HOW WE HELP BUSINESS OWNERS
Balancing Business Growth With Personal Financial Security
At TrueClarity Wealth, we specialize in helping business owners build financial plans that protect both their business and their personal future.
We understand the unique challenges you face:
Irregular income and unpredictable cash flow
The pressure to reinvest profits instead of saving for retirement
The complexity of managing employee benefits while funding your own
The tax burden of business ownership
The risk of losing everything if something happens to you or a key partner
We address all of it so you can grow your business with confidence, knowing your personal financial future is secure.
Succession Planning
What happens to your business when you retire? Or if something happens to you unexpectedly?
Succession planning ensures your business continues, whether that means transitioning ownership to a family member, selling to a partner, or exiting to a third party.
We help you:
Identify your exit timeline and goals
Understand the financial implications of different succession strategies
Coordinate with attorneys and accountants to structure the transition properly
Ensure your retirement income isn't dependent on a business that may or may not sell
Without a succession plan, your life's work could be worth far less than it should be - or worse, it could fall apart entirely.
Executive Compensation and Benefits
Attracting and retaining top talent is critical to your business's success. But how do you structure compensation packages that are competitive without breaking the bank?
We help you design executive compensation strategies that:
Align employee incentives with company performance
Provide tax-efficient benefits for key team members
Balance cash compensation with long-term incentives
Keep you competitive in your industry
And just as importantly, we make sure you're taking care of yourself too, not just your employees.
Funding Deferred Compensation
Deferred compensation plans allow you to reward key employees (or yourself) by deferring income to a future date - often retirement - when you may be in a lower tax bracket.
We help you understand:
Whether deferred compensation makes sense for your situation
How to structure and fund these plans
The tax implications for you and your employees
How to ensure the money is there when it's needed
Deferred compensation can be a powerful tool, but only if it's set up correctly.
Key Person Insurance
What happens to your business if your top salesperson, lead engineer, or operations manager suddenly can't work or passes away?
Key person insurance protects your business by providing funds to:
Cover the cost of recruiting and training a replacement
Offset lost revenue while you recover from the loss
Keep the business afloat during a critical transition period
If your business depends on specific people to function, key person insurance isn't optional, it's essential.
Funding Buy/Sell Agreements
If you have business partners, what happens if one of you dies, becomes disabled, or wants to exit the business?
A buy/sell agreement is a legal contract that outlines exactly what happens in those scenarios. But the agreement is worthless if you don't have the funding to execute it.
We help you:
Understand the financial implications of your buy/sell agreement
Structure life insurance or other funding mechanisms to ensure the money is available
Coordinate with your attorney to make sure everything is properly documented
Avoid a situation where your family (or your partner's family) is stuck in a messy, expensive legal battle
Without proper funding, a buy/sell agreement is just a piece of paper. We make sure it actually works when you need it.
Business Valuation Coordination
Knowing what your business is worth is critical for succession planning, buy/sell agreements, and exit strategies.
While we don't conduct business valuations ourselves, we work with trusted professionals who do. We'll help you understand why a valuation matters, when you need one, and how to use it in your overall financial plan.
Life, Health, and Retirement Benefits
EMPLOYEE BENEFITS: TAKING CARE OF YOUR TEAM (AND YOURSELF)
Offering competitive benefits is one of the best ways to attract and retain great employees. But as a business owner, you also need to make sure you're covered.
We help you evaluate and implement:
Employee Health and Life Insurance
We review your current employee benefits package to ensure it's competitive, cost-effective, and compliant with regulations. We also make sure you and your family are adequately covered—not just your team.
Retirement Plans for Your Business
Whether it's a 401(k), SEP IRA, SIMPLE IRA, or another type of plan, we help you choose and implement a retirement plan that works for your business size, budget, and goals. And we make sure you're maximizing your own contributions to build your personal retirement savings.
The goal is simple: take care of your team without neglecting yourself in the process.
Keep More of What You Earn
TAX PLANNING STRATEGIES FOR BUSINESS OWNERS
Business ownership comes with unique tax challenges - and unique opportunities.
We work closely with your CPA to identify strategies that minimize your tax burden, including:
Optimizing your business structure (S-Corp, LLC, etc.) for tax efficiency
Maximizing deductions and credits you might be missing
Timing income and expenses strategically
Planning for the tax implications of selling or exiting your business
Our goal is to make sure you're keeping as much of your hard-earned profit as legally possible, so you can reinvest in your business, save for retirement, or enjoy the life you've built.
