Learn from the Experts - Brooks Edition: Mastering Financial Planning For You and Your Business

Description

Learn from the Experts is coming to Brooks with a session designed to empower business owners and executives to take control of their financial future, focusing on the unique challenges and opportunities you face in creating your own retirement and the critical role a Certified Financial Planner™ (CFP®) professional plays in this journey.

Why Attend This Session?

As a business owner, your financial life is intricately linked with your business. This session will provide you with a clear understanding of:

The Unique Financial Landscape of Business Ownership: Learn how your business impacts your personal wealth and retirement, and the specific strategies that apply to you.

Taking Control of Your Retirement: Discover why relying solely on the sale of your business might not be enough and how to build a robust, diversified retirement plan.

The Value of Expert Guidance: Understand the significant benefits of partnering with a CFP® professional for both strategic planning and investment management, saving you time and potentially costly mistakes.

Actionable Strategies: Move beyond theory with practical steps you can implement immediately to improve your financial well-being.

Peace of Mind: Gain confidence in your financial future, knowing you have a plan to protect your hard-earned success.

Key Takeaways from the Session

You will leave this session understanding:

Your Business IS Your Biggest Asset, But Not Your ONLY Retirement Plan: While your business is a significant wealth-creation tool, a diversified approach to retirement is crucial for long-term security.

Proactive Planning is Non-Negotiable: Business owners must actively plan for retirement, succession, and wealth protection. Waiting can limit options and increase risks.

A CFP® is Your Financial Quarterback: A Certified Financial Planner™ acts as a fiduciary, coordinating all aspects of your financial life, from investment management and retirement planning to risk management and estate considerations, always putting your interests first.

Integration is Key: Effective financial planning integrates your business and personal financial goals, ensuring they work in harmony.

Investment Strategy Matters: Beyond just saving, a tailored investment strategy aligned with your risk tolerance and time horizon is essential for growing your wealth.

Tax Efficiency is a Priority: Learn how strategic financial planning can help optimize your tax situation, both personally and for your business, maximizing your retained earnings and investment returns.

Succession Planning Impacts Your Retirement: How and when you exit your business has a massive impact on your retirement. Early planning is critical.

Highlights, Tools & Resources You'll Leave With:

Understanding Core Retirement Vehicles for Business Owners:

• Overview of options like Registered Retirement Savings Plans (RRSPs), Tax-Free Savings Accounts (TFSAs), and non-registered investments.
• Pros and cons of each in the context of business ownership.

The "Financial Health Checklist for Business Owners":

• A practical checklist to self-assess key areas of your financial plan, identifying potential gaps and opportunities.

"Questions to Ask a Potential Financial Advisor":

• A guide to help you select a CFP® professional who is the right fit for your specific needs and business context.

Framework for Integrating Business & Personal Financial Goals:

• A conceptual model to help you visualize and plan how your business decisions impact your personal financial security.

Introduction to Risk Management Strategies:

• Understanding the importance of insurance (life, disability, critical illness) and buy-sell agreements in protecting your business and family.

Resource List:

• Links to reputable organizations and further reading on financial planning, investment management, and business succession.

Networking Opportunity:

• Connect with fellow business owners facing similar challenges and opportunities.

By attending this session, you will be better equipped to navigate the complexities of financial planning as a business owner and take decisive steps towards securing a prosperous future, both for your business and your personal life.

Meet our Expert Jessica Bohn

-If you would like to be featured as an Expert in one of our upcoming events in Brooks,

please contact Naomi at brooks-newell@southeastalbertachamber.ca