Walt Wilson Discusses Helping Business Owners With the Successful Transition Out of Their Business covering questions such as:
- Who do I trust to take over my business?
- How will you fund your retirement?
- What is my business worth?
- When does it make sense for me to exit?
Listen to the interview on the Business Innovators Radio Network:
Walt explained, “When determining if the business will be a major part of the business owner’s retirement plan, you must also look at the question of what retirement looks like for the entrepreneur. Do they want to be 100% retired or do they want to still be involved in the business?”
Top learning points business owners must realize about Exit Planning:
– Exit Planning is different from retirement planning.
– Exit Planning is about creating and maximizing value in a business to be sold for the highest possible price.
– Retirement planning is about having enough money to live on after you stop working.
– Most business owners do not have a formal exit plan.
– A lack of an exit plan can result in lower sale prices, tax consequences, and other problems.
– Exit Planning is a process that should start years before a business owner plans to sell their business. This is important because it takes time to implement strategies to maximize value.
About Walt Wilson
Charles “Walt” Wilson established his company over ten years ago, to assist individuals and businesses in planning for retirement and building consistent growth while protecting their principal and providing certainty, clarity, and guarantees.
Private Pension by Design informs and educates individuals and businesses about an alternative concept in planning for retirement. You should have the freedom to design a plan which you control – one that provides tax advantages, gives you access to your money without penalties, guarantees you a reasonable return, and provides lifetime income for retirement. He has over 50 years in the financial services industry.
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Private Pension by Design is not recommending tax advice and we suggest you contact your professional and licensed CPA or Tax Attorney for tax advice.