Cash Flow Planning

Whether you want to ensure that you will have a comfortable retirement and still be able to leave something for your children, or you already have a substantial nest egg and you want to maximize its potential, keeping a conscientious eye on your cash flow strategy can help safeguard your assets for whatever life, the markets or new tax legislation sends your way.

Lives change. So do tax laws. And the markets. Once you get your cash flow planning in place, it’s a good idea to review it often to be sure that none of the individual parts need to be adjusted.

In the early stages of a wealth-building plan, we can assist in identifying key areas of cash flow, including debt management, savings targets and tax withholding.

Early and ongoing professional advice keeps the individual pieces of your portfolio, such as mortgage debt and consumer credit, from shifting too far off the grid.

Whatever twists and turns your life takes – whether they are unexpected tax bills, the opportunity to buy a vacation home, or something unique to your personal situation– we have the ability to think several moves ahead. As time goes by, we can help you evolve your cash flow plan to ensure that your monies continue to meet your goals and needs.

We also counsel you in making tax-efficient decisions to keep generating additional cash through investments. This will help you play out your long-term strategy, while keeping the cash flow side of your wealth in check.

Managing your finances is an important component to cash flow planning. Along with the protection offered through insurance and the goal setting provided by investment choices, money management strategies help you manage your savings on a daily basis.

Succession Planning

Preparing for succession after death is a difficult issue to discuss, but it is also an important part of any comprehensive financial plan.

We can help you and your loved ones approach succession planning in a constructive manner that ensures they avoid problems and are well cared for in the event of your death. The process involves two main considerations: life insurance and preparing a will.

Life insurance can ease the financial burden and provide security for your loved ones in the event of your death. A lump-sum payment can be used for mortgage costs or to supplement lost income, helping your successors during a difficult period. Financial security and stability can make it easier to cope with the loss of a loved one.

A written will provides a means to guide your loved ones through the succession process. By naming your executors and providing instructions on the distribution of your estate, your surviving loved ones avoid having to guess your wishes. Rather than provincial law determining how your assets are to be divided—a situation that can result in lengthy court proceedings—a clear, carefully considered written will provides clear instructions to your successors. Save your loved ones the stress of dealing with financial issues by planning for your succession while you are alive.

Financial Planning for Business Owners

Business owners face unique challenges—and opportunities—in terms of financial planning. You’ve worked hard to develop your ideas into a successful business, or perhaps you’re considering moving into self-employment. Regardless of your situation, choose a financial planning strategy that takes advantage of your unique situation.

If you are considering moving to self-employment, contact us to discuss how to revise your financial plan. Working together, we will help you adjust from a situation where a previous employer might have provided benefits, such as health or life insurance or a company pension. Life and disability insurance can be difficult to purchase at first, since many insurers want two years of tax results. As well, self-employed people can gain tax write-offs for some health insurance premiums.

You may also need to negotiate a bank loan or line of credit to help fund office space, materials and other business investments. We can help you explore options to effectively secure these start-up expenses.

Tax planning is another important component of a strong business strategy. Depending on your business, consideration may include paying wages or collecting GST. You also need to pay your own CPP and EI, and possibly make quarterly tax installments. As well, you can take advantage of capital cost allowances on equipment such as computers or vehicles, and business expenses such as advertising, salaries, or travel.

Business Succession Planning

You worked hard to develop a business, and now is time to enjoy the results. Many entrepreneurs spend years of focused effort building up a business, but then fail to consider how to make the transition to retirement. A financial security advisor can offer expert advice in how to plan an effective business succession strategy.

Entrepreneurs can work to turn equity in the business into capital that can be used to fund retirement. A financial advisor can help business owners with tax-effective retirement strategies, such as using life insurance policies, paying yourself a salary as the business founder, or arranging for an heir to slowly buy up your shares.

Life insurance is another consideration when planning business succession. If the founder is nearing the end of his or her life, a well-planned life insurance policy can help successors transition into business owners. Upon death, successors face estate taxes on business values of more than $500,000—with the tax-free amount potentially offset by any capital business losses the owner declared during his or her lifetime. Life insurance is one way that successors can cover the remaining amounts.

Smaller businesses may not need to pay estate taxes, but can still benefit from a plan that ensures an equal legacy for their successors. A financial security advisor can help entrepreneurs plan an inheritance that is fairly distributed among all loved ones.

Securities offered through Purshe Kaplan Sterling Investments,, member FINRA/SIPC. Headquartered at 18 Corporate Woods Blvd., Albany, NY 12211. Purshe Kaplan Sterling Investments and Bellwether Advisors, LLC are not affiliated companies. Investments through PKS or RIA are:

NOT FDIC INSURED
NOT BANK GUARANTEED
MAY LOSE VALUE, INCLUDING LOSS OF PRINCIPAL NOT INSURED BY ANY STATE OR FEDERAL AGENCY

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