Financial advice for incorporated professionals is often two-sided- advice for the practice and personal financial advice. A few things to keep in mind for professionals are:
For an incorporated professional, personal and practice finances are connected. Therefore both sides should be addressed: Personal and your Practice.
There are 2 main sides your practice’s financial plan should address: Growth and Preservation
There are 2 main sides your financial plan should address: Accumulation and Protection
For incorporated professionals, preparing for retirement can go beyond finances, one of the biggest challenges is concern for the future of their clients or patients. Planning for retirement can take several advisors including a financial advisor, tax specialist and lawyer to help make the best decisions for their practice. We’ve put together an infographic checklist that can help you get started on this. We know this can be a difficult conversation so we’re here to help and provide guidance to help you achieve your retirement dreams.
One other consideration that’s not included in the checklist is divorce. This can be an uncomfortable question, however divorce amongst adults ages 50 and over is on the rise and this can be financially devastating for both parties.
Contact us about helping you get your retirement planning in order so you can gain peace of mind that your retirement dreams can be achieved.
Horizon Financial Group