One of the most important documents that a business owner should have is a buy-sell agreement which doesn’t seem to get a whole lot of attention.
In this episode, Jim McGovern shares a step-by-step process for creating a buy-sell agreement without losing out on the value of your business. He will give you tips on how to get started and keep your business protected.
Jim discusses:
What a buy-sell agreement is and why it is important
The basics of how a buy-sell agreement works
Why this agreement is better off being a standalone document
Four topics commonly addressed in a buy-sell agreement
98% of business owners don’t know the value of their business. Yet, most business owners are banking on the sale of their company someday to fund their retirement.
In this episode, Jim McGovern talks with Jason Early, president of BizEquity, to discuss why you deserve to know the value of your business and what you can do with this information.
Jason discusses:
The importance of a business valuation
How often your business should have a valuation and how you can benefit from it
How inflation and interest rates are putting pressure on the value of a business
The time commitment and preparation needed for a business valuation
After nearly a decade in financial services and technology/consulting, Jason joined BizEquity as CRO leading the sales, marketing, and customer success teams. As President, Jason partners with the leadership team to shape the vision and serve the team to deliver on BizEquity’s mission. Jason is the co-chair of Pavilion Philadelphia, and former board member of the American Ireland Fund, American College Alumni Board, and the Brian H. Early Foundation.
Structured notes have sometimes been perceived as investments for only the rich and wealthy.
Now with the competitive marketplace, financial advisors have access to low-cost, accessible structured notes that offer investment solutions any individual investor can access.
In the episode, Jason Barsema, CEO of Halo Investing, discusses the details of structured notes, when to use structured notes and how using a platform like Halo investing for structured notes is a great option for investors seeking alternative solutions.
Jason discusses:
How Halo Investing helps advisors with structured notes
Jason Barsema is the Co-Founder and President of Halo Investing where he leads the team and product vision. With over a decade of experience managing Structured Notes, he built the Halo platform to provide all investors access to this incredible investment product. Jason previously was a Partner on a large Private Banking team at Credit Suisse, where he managed portfolios for Ultra High Net Worth Individuals and Institutions. Jason has his B.A. in Economics from Northern Illinois University and his M.B.A. from the Kellogg School of Management at Northwestern University.
1 in 3 workers are willing to consider a lower paying job if it was a more fulfilling job. It can be nearly impossible to be fulfilled in your life if you are not fulfilled at work.
In this episode, Emily Melious, CEO and fulfillment coach at Launch Consulting, discusses why fulfillment equals the alignment of your unique skills, passions, and talents. She shares how The Career Navigator Program helps mid-career professionals and high achievers make a job transition to find fulfillment in their work.
Emily discusses:
Why success doesn’t always equal fulfillment
The three part proven fulfillment formula™️
Why traditional career advice leaves you unfulfilled
Why it’s almost impossible to be fulfilled in life if you are not fulfilled at work
Emily Melious is the CEO and fulfillment coach at Launch Consulting. Emily helps high achieving mid-career professionals create energizing, satisfying, and fulfilling careers. She’s a certified Kolby consultant at SHRM-SCP and she’s the creator of the 3 part proven fulfillment formula™️.
Are you properly claiming your Social Security benefits?
Most people don’t put enough careful thought into Social Security claims and this mistake can leave you with a reduced retirement income.
In this episode, Jim McGovern talks with Elaine Floyd, CFP®, and author of Savvy Social Security Planning For Boomers. She debunks some of the most common myths about Social Security and shares effective methods that maximize retirement income.
Elaine discusses:
Why you shouldn’t bank on the fear of Social Security cuts
How retirement income for Social Security is calculated and how you can maximize that income
Why higher earning spouses should claim at age 70 to maximize the survivor benefit
Why retirees should consider auxiliary benefits if they become widowed or divorced
Elaine Floyd, CFP® is the director of retirement and life planning at Horsesmouth, a New York-based company that helps financial advisors develop business, advise clients, and manage their practices. She is the author of Savvy Social Security Planning for Boomers and Savvy Medicare Planning for Boomers, two comprehensive training programs designed to educate financial advisors on the important government benefits available to clients when they retire. After 20 years as an independent financial writer of books, articles, and white papers for the financial services industry, she joined Horsesmouth in 2008. Elaine is an authority on Social Security rules and strategies as a result of her intense interest in the subject and analysis of hundreds of cases which have been brought to her by Savvy Social Security Planning program subscribers. Floyd has been quoted in The Wall Street Journal, U.S. News and World Report, Kiplinger’s Retirement Report, and Robert Powell’s Retirement Weekly.
During the life of a business whether it be a company that is big or small, business owners put in long hours, wear different hats, and are pulled in different directions with no shortage of stress.
In this episode, Jim McGovern talks about a clear path to follow so you can protect the company you have built, position this company for growth in the future, and exit the company on your own terms.
Jim discusses:
The differences between small businesses and public traded companies
The importance of the transferable value of your company
Protection in place to keep cash flow coming in the door
How retention incentives can help you reach business objectives
Do you know what ingredients are in your investment portfolio, the recipe being used and why?
Do you know how markets work, the factors that influence your long-term returns, and what to expect out of your portfolio based on how it’s designed? Without an intuitive and logical framework to follow, investing can be confusing, intimidating, and frustrating. It doesn’t have to be that way.
In this episode, Jim McGovern outlines the fundamentals of investing and what most investors don’t know about building an efficient portfolio. He provides jargon free answers to common investment questions and breaks down investing into 3 easy to understand steps.
Jim discusses:
Four investment factors that can impact returns over time
How to calculate investment risk so you know what to expect as an investor
Investing strategies to help you understand why you’re investing in certain types of stocks or bonds
One of the most important financial resources that you have is cash flow. We use cash flow to determine how to spend, save and plan our money for the future.
What happens to you when your cash flow stops as a result of a health-related matter?
In this episode of Maximizing Outcomes, Jim McGovern discusses health-related issues that may stop you from earning a pay check. He also discusses why your employer’s insurance coverage doesn’t completely protect you.
Jim discusses:
What disability insurance is and how it works
The reasons why you could stop earning a pay check
The two types of disability insurance
Why your employer’s insurance doesn’t completely cover you
What would happen to your estate if you were to pass away tomorrow?
Do you have a will in place for your family? States such as Pennsylvania cannot guarantee that the spouse of a deceased person will inherit 100% of the money when there isn’t a will in place.
In this episode, Jim McGovern talks with Brooke McMorrow, a business owner and attorney from McMorrow Law, LLC. They explore why you should develop a will and establish your power of attorney no matter what age you are.
Brooke discusses:
What an estate plan is and how you can start creating yours
Why you should have a power of attorney no matter your age
What happens when you or one of your family members passes away without a will
What a revocable living trust is and how it benefits you and your family
Attorney McMorrow strives to change the stereotypes that people have about attorneys by returning phone calls in a timely manner and above all, listening to the client and providing affordable and knowledgeable legal advice in a comfortable setting. BrookeMcMorrow is licensed to practice law in both Pennsylvania and New York. As a member of the Collaborative Law Association of Southwestern Pennsylvania, Attorney McMorrow is trained in collaborative law.
Every child is going to need different quantities of support from their parents.
How can you establish and navigate the support systems that your child requires?
In this episode, Jim McGovern talks with Judy Herron, CPA to discuss her story of raising her son Chaz and how she became proactive in creating his financial future, finding him support systems, and finding the right opportunities for someone who is ‘differently abled’.
Judy discusses:
How her work as an experienced CPA impacts small businesses
What impact her son Chaz has had on her professional and personal life
What questions she asked herself early on about her disabled son’s future and how they helped curate his financial plan
Financial planning tips for parents with disabled children
Start-up or established company, your financial information is essential for managing business performance. It’s always better to be clear on your financial position, and Judith can help you get there. Work with Judith to sharpen your focus on data that makes you an agile decision maker.
