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Your Business Is Likely Your Largest Asset Turning Your Life's Work Into A Retirement Income Stream

Kevin and Michelle were in their mid 60s when they decided it was time to sell their business and start to enjoy retirement.

Only one of their two sons, Calvin, had been active in the family business. Their other son, Ken has a successful career in another state and had no interest in coming back. Kevin and Michelle wanted to treat both boys fairly, but felt Calvin should have the opportunity to continue the business.

This Life-Changing Event Created Many Questions

They wanted to be fair to Calvin in pricing the business, but didn't really know where to start. They asked these questions:

  • How can we determine the business valuation?
  • How much do we need from the sale in order to provide our needed retirement income?
  • How much will we lose to taxes?
  • If we sell to Calvin, how do we treat Ken fairly?

Creating Their Plan

We will take Kevin and Michelle through our 5 Step Process for Financial Fitness to help them to:

Focus on their goals, desires and dreams for their retirement years

Evaluate their options in selling the business, and

Create a plan that can make their wealth work as hard for them in retirement as they did to create it.

Together we will see if their goals and objectives are realistic and attainable. Our plan will be based on their specific situation and will address not only their retirement needs but their estate planning needs in a way that can be equitable for the entire family. When necessary, we will work with their current CPA or attorney or can recommend one from our professional network.

Their Desired Outcome

Kevin and Michelle will be able to see that they can achieve their business and retirement goals while making sure that all parties are treated fairly.

To discover more we invite you to sign up above for our complimentary special report "Planning for Life: The Many Benefits of Financial Planning and Investment Management"

Or for help to pursue your desired outcome you can call us at 701-852-3090 or contact us here.

This case study is for illustrative purposes only. Individual cases will vary. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Prior to making any investment decision, you should consult with your financial advisor about your individual situation.

Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.