Without a doubt, business owners wear many hats. With so little time, it may be overwhelming to think about life beyond your business. But one thing you probably know – To achieve success, you must build and trust a dedicated team.

At Prism Planning Partners, we have helped small business owners like you. In fact, as small business owners ourselves, we personally face many of these same situations. From evaluating your current financial situation to modeling detailed “what-if” scenarios, to visualizing your post-business life plan, we’ve helped numerous entrepreneurs gain long term comfort in their financial situation. Delegate your personal financial planning to the Prism Planning Partners team. We take pride in helping fellow businesses thrive.

Meet George and Jennifer 

George (57) and his wife Jennifer (56) own their own small business and are looking to retire in the next 5 to 7 years. They have both been contributing to the 401K plan they set up through their company. They have three children, all of whom are now grown and live out of state. They both are passionate about travel, and in addition to trips to see their children, try to plan at least one big family vacation a year. They want to make sure that they will have enough money to continue their existing lifestyle and travel abilities once they retire.  

The couple currently has a financial advisor, someone George’s coworker used, but are unhappy due to high fees and a lack of personalized attention and solutions. 

As they near retirement, they don’t want to worry about if they will outlast their money and would like to find a financial advisor/firm that will put their best interests first and foremost. They also want an advisor who can run through various scenarios with them to ensure they are saving enough to accommodate any future downturns in the market or future illness/long term care needs.

Pain Points

• Need a better understanding of living costs once they retire and how much income they’ll need once retired
• Need guidance on succession planning/selling their business
• Don’t want to have to adjust their current standard of living, if possible
• What should they roll their 401Ks over to upon retirement?
• Have they set aside enough that a downturn in the market or long-term care won’t decrease their standard of living in retirement?
• They want to be able to help pay for their grandchildren’s college tuition or at least a part of it but worry they won’t have enough money to do that.
• Need a financial advocate who will:
  • Put their interests first 
  • Develop a financial plan to address both short- and long-term life events
  • Willfully disclose their fees and services so there are no questions
  • Will be very responsive and a good communicator