As many of our clients grow their businesses, we have helped them replace their existing company retirement plans with 401(k) plans. In general, 401(k) plans can provide more options and flexibility than other types of retirement plans. Here, we will explore some of the key attributes of 401(k) plans and the potential benefits they can provide on both a personal level and in various aspects of managing your business.
Here we touch on some of the strategies we recommend to our clients. While none of these should come as a surprise, we feel it never hurts to mention them.
This question-and-answer article is designed to help small business owners better understand the disability insurance/wealth management relationship.
Do you have an exit strategy for your business or career? Whether you are a corporate executive or a business owner, there will come a time when you want, or need, to transition to the next phase of life. Done in advance, this can be an optimistic process, it should define how YOU want to exit. As the plan develops, there will be reality checks and alternative paths to consider, but at this point it should be a framework of how you want the future to look.
Many business owners transitioning into retirement know it can be beneficial when their younger partners choose to buy them out. However, finding a way to finance the buyout can post a significant obstacle for younger partners. While most aspiring owners may think that buying into a business can only be done with cash or loans, there is another option: a Cash Balance Plan – an innovative, hybrid retirement plan that may provide buyout funding opportunities along with an exit strategy that enables all the parties to benefit.
COVID-19 has disrupted many businesses in recent months, which may have resulted in unexpected revenue loss and supply chain issues. If you own a company, you may be wondering whether business interruption insurance can help you recover from loss, either now or in the future.
Both small and large businesses have been significantly impacted by the effects of COVID-19 and have had to make critical decisions over the last few weeks. To facilitate our clients who own businesses, we have compiled relevant information and possible actions in light of the current difficult business conditions and the enactment of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Modera CEO, Tom Orecchio, was quoted in this Forbes article about leadership during the COVID-19 crisis.
ESPP – While the acronym and the spelled-out version - employee stock purchase plan – don’t sound particularly exciting, the financial rewards can be. That’s because, under most circumstances, people whose employers (publicly-traded companies) offer an ESPP can profit by using this benefit strategically