Business owners devote years, sometimes decades, to building companies that support their families, employees, and communities. But many spend far less time planning what will happen when they retire, transfer ownership, lose a key employee, or face an unexpected event.
In this episode of Coasting in Retirement, Josh Null reunites with Jay Stubbs of Providence Partners to revisit their B.O.S.S. Series: Business Owner Strategies & Solutions. Originally introduced through their Every Dollar Counts podcast, the series focuses on financial decisions that can help business owners protect what they have built and prepare for what comes next.
Josh and Jay explore four important planning areas: buy-sell agreements and business succession, retirement-plan choices such as 401(k)s, SIMPLE IRAs, and SEP IRAs, the potential role of cash balance plans, and strategies designed to protect businesses while rewarding and retaining valuable employees.
Whether you operate a company with numerous employees or work as a solo entrepreneur, these decisions can affect your taxes, retirement, team, family, and the future of the business itself.
Could your company continue without you? And does your current plan give your most important employees a reason to stay?
Listen to the full episode to hear Josh and Jay explain why strong business planning should begin long before an owner is ready to step away.
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