Tag: Business Owners

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The Business of Family Business With Josh Ackerman (Ep. 42)

The Business of Family Business With Josh Ackerman (Ep. 42)

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How can you navigate the complexities of transitioning a family business to the next generation?

Today on Money Is Emotional, Financial Dignity® Coach, Christine Luken, sits down with Financial Life Planner™ and host of Transition Talks: Business Exit & Retirement Strategies, Josh Ackerman, who shares invaluable insights on handling the financial and emotional aspects of passing a family business to the next generation. Learn why treating your children fairly doesn’t always mean treating them equally and discover the essential conversations to have early on.

Join Christine and Josh to hear real-life experiences about what goes into creating a seamless handover, maintaining family harmony, and planning for the future. 

Top takeaways include:

  • Why Josh decided to join his father’s financial services firm, Context Financial
  • The biggest and most common pitfall in business transitions
  • Why treating your children fairly may not always mean treating them equally
  • What business owners with young children should be thinking about 
  • And more

Resources:

Connect with Christine Luken: 

Connect with Josh Ackerman:

About Our Guest: 

Josh Ackerman, joined Context Financial in 2006 and became a Certified Financial Planner™ in 2009. Josh is a member of the Financial Planning Association, a national association that supports CFP® professionals, financial planners, academic leaders, students, and those who support the financial planning process. He is the host of Transition Talks: Business Exit & Retirement Strategies.

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Retirement Options for Entrepreneurs with Darren Wurz (Ep. 26)

Retirement Options for Entrepreneurs with Darren Wurz (Ep. 26)

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As a business owner, securing your financial future requires making important decisions and considering various factors. 

It’s easy to get caught up in the daily hustle and forget about the need to build a strong retirement plan.

In this episode, Financial Dignity® Coach, Christine Luken, sits down with Darren Wurz, co-owner of Wurz Financial Services and host of The Lawyer Millionaire™  Podcast. They dive into retirement savings options for business owners. They explore strategies like backdoor Roth IRAs and solo 401(k) plans. Darren also highlights the importance of building savings outside of retirement accounts and cautions against relying solely on the sale of assets.

Christine and Darren discuss: 

  • Darren’s background and experience in financial planning for attorneys and law firm owners
  • The difficulty for self-employed individuals to prioritize saving for retirement
  • Retirement savings options for solo entrepreneurs and small business owners
  • The benefits of a cash balance plan for retirement savings
  • Non-qualified compensation plans
  • The importance of considering saving and investing outside of retirement accounts
  • The potential pitfalls of relying solely on the sale of a business or property for retirement savings
  • And more!

 

Resources:

Connect with Christine: 

Connect with Darren Wurz:

About our Guest: 

Darren Wurz specializes in financial planning for law firm owners. He is a Certified Financial Planner® Professional with an M.S. in Financial Planning from Golden Gate University. As a fiduciary and fee-only advisor, he has developed expertise in the unique financial planning needs of those in the legal profession, and he now specializes in serving attorneys and law firm owners across the country. His mission is to help his clients achieve financial independence as they define it. As a small business owner himself, he is deeply familiar with the challenges of solo practitioners and small firm owners.

He is the host of The Lawyer Millionaire Podcast, available wherever you get your podcasts, and author of The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence, published by the American Bar Association. Darren is a member of the American Bar Association and the Financial Planning Association. Locally, he is a member of the Cincinnati Bar Association, the Northern Kentucky Bar Association, and the Covington Business Council. His office is located in Cincinnati, OH, and he was born and raised in Toledo, OH.

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Manage Money Like a Boss in Your Business (Ep. 15)

Manage Money Like a Boss in Your Business (Ep. 15)

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You don’t have to be a numbers nerd to be the boss of your business finances. All you need are a Money Boss mindset and Money Boss actions!

In this episode, Financial Dignity® Coach, Christine Luken talks about making money the best employee in your business, not your worst nightmare. She shares tips on how to keep your business finances organized with a simple system and why it’s important to give them some CEO love. Plus, don’t worry if you’re not a spreadsheet nerd because managing money like a boss doesn’t require a degree in Excel!

What are you waiting for? Put on your boss hat, grab a coffee, and let’s get to work on turning your finances into the star employee of your business.

Christine’s Key Takeaways: 

  • Why you should treat your money as an employee in your business
  • Why a positive mindset about personal finance doesn’t automatically translate to business finances, and how to build a Money Boss Mindset
  • How setting up a simple system can help keep your business finances organized 
  • Why it’s important to give your business finances positive attention with some scheduled CEO time
  • Why you should keep your business finances separate from your personal finances
  • You don’t have to be a spreadsheet nerd to manage your money like a boss!
  • And more

 

Resources:

Connect with Christine: 

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