Michelle
Small Business Owner
Meet Michelle, a busy small business owner who is looking to create more flexibility in her life, while also lowering her tax burden and ensuring a comfortable retirement.
As an entrepreneur, Michelle understands the importance of managing her finances wisely, but with the demands of running her business, she simply doesn't have the time or expertise to handle all of her financial matters alone.
She has a lot of questions, and not a lot of time to figure them all out.
Case Study - Age 39
Difficulty balancing business expenses and personal finances
Uncertainty about retirement planning and how to maximize tax benefits
Struggling to manage cash flow and maintain adequate liquidity for the business
Unclear on how to protect personal and business assets
Worries about leaving a legacy for future generations or for selling the business in the future
Time constraints that prevent them from properly managing and monitoring their finances.
That’s where we come in.
Develop a clear understanding of her business finances, including cash flow, revenue streams, and expenses. This helps her make informed decisions about how to allocate resources and plan for the future.
Establish a retirement savings plan that is tailored to her specific needs and goals. Working with Long Planning, she considers her options for retirement, like a Solo 401(k), SEP IRA, or SIMPLE IRA.
Implement tax planning strategies to minimize her tax burden and maximize her deductions. She works with long planning to evaluate her finances and to identify potential savings opportunities.
Develop a contingency plan to address unforeseen events or disruptions in her business. This may include setting aside emergency funds, creating a business continuity plan, or obtaining insurance coverage.
Evaluate her business structure and determine whether it is the most tax-efficient option for her situation.
Michelle grabbed a coffee and called Long Planning. Step by step, she was able to work through her plans for the future, her challenges right now, and how she could optimize her strategy and make solid business decisions. She has a solid plan, covering her needs:
Michelle feels confident that she has the tools she needs to take her business to the next level. With the support of Long Planning, she has freed up time and energy to focus on the thing she’d rather be doing - running her business.*
Case Study 2 - Small Business Owner
Why Long Planning
What you get:
Fee-only Fiduciary: We are legally bound to act in your best interest, providing you with unbiased and objective financial guidance
Tax Optimization: We provide strategies to help you minimize your taxes over your lifetime, not just in a single year.
Specialized Approach: We specialize in working with tax-sensitive retirees, successful professionals, business owners, and work-optional clients.
What you don’t:
Commission-based influence: We are only compensated by our clients, not banks or third parties.
Stale Advice: We take the time to understand your unique financial situation and create a personalized financial plan that meets your specific needs.
High-Pressure tactics: We will partner with you to help grow and preserve your wealth for a lifetime, not just for today.
Ready to get started?
*Note: The above case study is hypothetical and does not involve a real long planning client. No portion of the content above should be construed as a guarantee of the same experience or level of results if Long Planning is engaged to provide investment advisory services.