Optimizing Your Financial World

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 day1:23 - Tax-related issues are top-of-mind concerns for business owners2:51 - Transferring your assets regularly over time4:35 - Selling your business through an installment sale approach5:51 - The risks associated with an installment sale approach7:58 - Opportunity Zones and how a business owner can leverage these when selling a business9:52 - Charitable remainder trusts can be a great solution11:47 - Addressing the income component with a charitable remainder trust13:33 - 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 futher16:05 - 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 day1:31 - What can a entrepreneur expect when encountering a financial buyer3:26 - Where the seller fits into the financial buyer's vision for the sale of the company5:26 - Where financial buyers come from7:01 - How a strategic buyer approaches the acquisition of a company8:58 - A strategic buyer is looking into the greater value being created beyond the sale11:18 - The types of strategic buyers12:36 - How an entrepreneur can decide which type of buyer would be best for them14:14 - Advice for navigating deals with strategic buyers15:37 - 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 day1:31 - Many people aren't aware of the financial risks that exist after they retire3:41 - The common mistake of overspending7:05 - Avoiding 'money talks' with family members9:57 - Using the 'wrong' withdrawal strategy for income12:53 - Stop making investing your part-time hobby15:36 - Being aware of the different scamming techniques out there18:01 - How to combat scammers in today's day and age20:55 - Just because you enter retirement, doesn't mean you should enter auto-pilot22:57 - How to get in touch with Mark and his team24:03 - 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 day1:35 - Managing your wealth is like managing your health3:10 - Preserving your wealth over the course of your lifetime6:16 - Affluent people aren't always as "all set" as you would think8:34 - The enhancement of wealth over time10:45 - Taxes can create questions and uncertainty 13:08 - Estate planning is a crucial concern of the affluent15:52 - Asset protection and guarding your wealth is a top concern of the affluent18:08 - The charitable side of wealth planning20:34 - How to get in touch with Mark and his team24:24 - 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 day1:47 - We're not immune from challenges and stressful events4:09 - The first move someone can make when experiencing sudden shock6:35 - Developing an in-depth assessment of a client's unique situation9:42 - Examining the existing financial strategies currently being leveraged12:15 - 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 control18:42 - How Mark's team navigates negative situations when an assessment reveals something bad22:07 - The bottomline and key takeaways24:17 - How to get in touch with Mark and his team25:21 - Closing remarksConnect with Mark Wade:WebsiteLinkedIn

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 day1:23 - What is a Family Bank? 2:36 - The types of initiatives that Family Banks fund4:26 - How a Family Bank can help build financial responsibility of a family member5:49 - A Family Bank can also assist with a business-building desire8:28 - Why Family Banks need to be formal in nature11:21 - Family Banks should be very tailored to a given family's needs and goals13:43 - Family Banks are not only reserved for those with significant assets16:34 - Leverage a team of professionals to assist in running your Family Bank19:45 - How to get in touch with Mark and discuss the topic further20:30 - Closing remarksConnect with Mark Wade:WebsiteLinkedIn

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 day1:45 - The habits of the most successful negotiators4:00 - The foundation of a smart approach towards negotiating5:38 - A win-win negotiation isn't always possible6:41 - You need to have a deep understanding of the issues at hand8:18 - "People smarts" 11:27 - How to enhance your "people smarts" over time13:30 - It's important to understand the desires of the people you're negotiating with14:00 - Look at deals your counter-parties have completed in the past16:40 - How to get in touch with Mark and his team17:44 - Closing remarksConnect with Mark Wade:WebsiteLinkedIn

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 day1:40 - 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 people8:43 - There tend to be more financial opportunities uncovered during a stress test12:12 - Why there tend to be more issues with wealth plans that aren't stress testing regularly13:38 - Stress testing can be an eye-opening experience 14:56 - The construction company analogy16:30 - The signs and signals you should be on the lookout for17:30 - How to get in touch with Mark and his team18:35 - Closing remarksConnect with Mark Wade:WebsiteLinkedIn

Believe it or not, it’s not always easy to inherit significant wealth. Many inheritors feel tremendous pressure to prove that they deserve the money and that pressure can lead to great things or big problems, depending on how well they navigate the situation. On the latest episode of Optimizing Your Financial World, we’ll explore ways that inheritors can feel more validated and comfortable with wealth.Timecodes:0:06 - Introduction and overview on the topic of the day1:40 - Inheriting significant wealth can present challenges to those beneficiaries4:08 - There are two categories of inheritors5:54 - Inheritors seeking validation and legitimacy7:08 - The issue with inheritors seeking out validation9:28 - Smart ways inheritors can go about achieving that level of validation10:53 - What if an inheritor isn't interested in the family business? 12:58 - Inheritors need to find what matters most to them15:06 - How to get in touch with Mark and his team16:18 - Closing remarksConnect with Mark Wade:WebsiteLinkedIn

We all have various personality traits. Some of us are introverts while others are extroverts, for example. But did you know you also have a wealth personality and that it can have a big impact as you pursue your financial goals? On the latest episode of Optimizing Your Financial World, we’re examining the topic of high net worth personalities — how to identify yours, and how you can put it to work as you seek to make smart decisions about your wealth. Timecodes:0:06 - Introduction and overview on the topic of the day1:58 - The how and why behind people's attitudes about money3:10 - Your wealth personality should match your wealth manager's5:00 - The most popular wealth personalities out there6:51 - The more nuanced types of wealth personalities9:50 - The benefits of working with a wealth manager that shares your wealth personality12:23 - How you can figure out your wealth personality16:36 - How involved do you want to be in your wealth planning matters? 18:28 - Can you have a mixture of these wealth personalities? 20:14 - How to get in touch with Mark and his team21:31 - Closing remarksConnect with Mark Wade:WebsiteLinkedIn