Selling a business that you’ve worked to build for years or decades comes with an enormous number of considerations—not the least of which is easing the tax burden that accompanies a big sale.

On the latest episode of Optimizing Your Financial World, we’re looking at four ways business owners who sell their companies might mitigate taxes. Let’s dive in!

Chapters:

0:00 - Introduction and overview on the topic of the day

1:23 - Tax-related issues are top-of-mind concerns for business owners

2:51 - Transferring your assets regularly over time

4:35 - Selling your business through an installment sale approach

5:51 - The risks associated with an installment sale approach

7:58 - Opportunity Zones and how a business owner can leverage these when selling a business

9:52 - Charitable remainder trusts can be a great solution

11:47 - Addressing the income component with a charitable remainder trust

13:33 - Which of these strategies makes the most sense for you?

15:10 - How to get in touch with Mark and his team to discuss this futher

16:05 - Closing remarks

If you’re an entrepreneur, the idea of selling your business may have crossed your mind more than once. If you ultimately decide to sell your business, you’ll likely encounter two main types of buyers: financial and strategic. It’s a good idea to consider which type of buyer is the right one for you and your company.

On the latest installment of Optimizing Your Financial World, we’re exploring how these two categories of buyers could play an important part in how much you get for your company!

Chapters:

0:00 - Introduction and overview on the topic of the day

1:31 - What can a entrepreneur expect when encountering a financial buyer

3:26 - Where the seller fits into the financial buyer's vision for the sale of the company

5:26 - Where financial buyers come from

7:01 - How a strategic buyer approaches the acquisition of a company

8:58 - A strategic buyer is looking into the greater value being created beyond the sale

11:18 - The types of strategic buyers

12:36 - How an entrepreneur can decide which type of buyer would be best for them

14:14 - Advice for navigating deals with strategic buyers

15:37 - How you can get in touch with Mark and his team

16:19 - Closing remarks

Even if you’ve done excellent planning for your golden years, it’s possible to make mistakes once you’re in retirement that can prove to be costly.

On the latest episode of Optimizing Your Financial World, we’re examining some of the big mistakes that retirees tend to make along with potential solutions and, even better, ways to avoid making them in the first place.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:31 - Many people aren't aware of the financial risks that exist after they retire

3:41 - The common mistake of overspending

7:05 - Avoiding 'money talks' with family members

9:57 - Using the 'wrong' withdrawal strategy for income

12:53 - Stop making investing your part-time hobby

15:36 - Being aware of the different scamming techniques out there

18:01 - How to combat scammers in today's day and age

20:55 - Just because you enter retirement, doesn't mean you should enter auto-pilot

22:57 - How to get in touch with Mark and his team

24:03 - Closing remarks

We all have financial concerns of some sort or another.

On the latest episode of Optimizing Your Financial World, we're taking a closer look at some of the key concerns shared by many affluent individuals and families today. How many of these concerns are on your own list of issues to address?

Chapters:

0:00 - Introduction and overview on the topic of the day

1:35 - Managing your wealth is like managing your health

3:10 - Preserving your wealth over the course of your lifetime

6:16 - Affluent people aren't always as "all set" as you would think

8:34 - The enhancement of wealth over time

10:45 - Taxes can create questions and uncertainty

13:08 - Estate planning is a crucial concern of the affluent

15:52 - Asset protection and guarding your wealth is a top concern of the affluent

18:08 - The charitable side of wealth planning

20:34 - How to get in touch with Mark and his team

24:24 - Closing remarks

We can be blindsided at any time by bad news. Perhaps it's a death, a job loss, or a natural disaster? Either way, these difficult life events make it hard to know whether we’re still on solid financial ground.

In the latest installment of Optimizing Your Financial World, we’re taking a closer look at smart ways to regain much-needed clarity if you’re faced with major uncertainty, as well as steps you can take if you need to get back on track.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:47 - We're not immune from challenges and stressful events

4:09 - The first move someone can make when experiencing sudden shock

6:35 - Developing an in-depth assessment of a client's unique situation

9:42 - Examining the existing financial strategies currently being leveraged

12:15 - Are most people protected in the event of a sudden challenge in their life?

14:30 - Mark's advice for staying calm when faced with stress and a loss of control

18:42 - How Mark's team navigates negative situations when an assessment reveals something bad

22:07 - The bottomline and key takeaways

24:17 - How to get in touch with Mark and his team

25:21 - Closing remarks

Connect with Mark Wade:

Website

LinkedIn

Family banks are a tool that some very wealthy families use for a number of reasons, and they’re increasingly being adopted by more and more families across the net worth spectrum.

On the latest installment of Optimizing Your Financial World, we’re looking at whether family banks could be a smart move for you!

Chapters:

0:00 - Introduction and overview on the topic of the day

1:23 - What is a Family Bank?

2:36 - The types of initiatives that Family Banks fund

4:26 - How a Family Bank can help build financial responsibility of a family member

5:49 - A Family Bank can also assist with a business-building desire

8:28 - Why Family Banks need to be formal in nature

11:21 - Family Banks should be very tailored to a given family's needs and goals

13:43 - Family Banks are not only reserved for those with significant assets

16:34 - Leverage a team of professionals to assist in running your Family Bank

19:45 - How to get in touch with Mark and discuss the topic further

20:30 - Closing remarks

Connect with Mark Wade:

Website

LinkedIn

On the latest installment of Optimizing Your Financial World, we're discussing how you can become a savvy negotiator, which is a skill that comes in handy both professionally and personally.

Highly successful self-made multimillionaires, high-caliber professionals and other high achievers are typically extremely successful negotiators. On this episode, we explore what they say and do get what they want when dealing with other people and how we all can take a page from their playbook.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:45 - The habits of the most successful negotiators

4:00 - The foundation of a smart approach towards negotiating

5:38 - A win-win negotiation isn't always possible

6:41 - You need to have a deep understanding of the issues at hand

8:18 - "People smarts"

11:27 - How to enhance your "people smarts" over time

13:30 - It's important to understand the desires of the people you're negotiating with

14:00 - Look at deals your counter-parties have completed in the past

16:40 - How to get in touch with Mark and his team

17:44 - Closing remarks

Connect with Mark Wade:

Website

LinkedIn

One of the smartest financial moves that individuals and families can make is to learn what strategies are being used by people who are wealthier than they are. Primarily, this is done to see if they could benefit by adopting those same habits and best practices.

On the latest episode of Optimizing Your Financial World, we're discussing one extremely valuable tool that the wealthy regularly use called a stress test. This process is leveraged for seeing how well positioned, financially, you really are!

This episode is packed with some helpful takeaways for your own financial world. Let's get started!

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:40 - What is a stress test?

4:13 - Why stress testing is being used by extremely wealth people

6:00 - Stress testing isn't reserved only for very wealthy people

8:43 - There tend to be more financial opportunities uncovered during a stress test

12:12 - Why there tend to be more issues with wealth plans that aren't stress testing regularly

13:38 - Stress testing can be an eye-opening experience

14:56 - The construction company analogy

16:30 - The signs and signals you should be on the lookout for

17:30 - How to get in touch with Mark and his team

18:35 - Closing remarks

Connect with Mark Wade:

Website

LinkedIn