Making sense of the options and delivering value: The Blue Sky Approach.
If you own a company you probably spend most of your time looking after your business and not enough time considering your own interests. Every successful business has a robust business plan, but what plans have you made for your own financial future?
Are your assets managed as well as they could be? Are your investments, pensions, property and savings going to make a real difference to your future income?
We can help if any of the below apply to your situation as a company director:
- You wish to invest money on behalf of your company or extract money from your business in the most tax efficient way
- You want to protect your business from unforeseen circumstances and so are ready to investigate protection policies suited to you; or
- You are looking to review all of your assets ready to exit the business and enjoy life ‘after work’.
Here at Blue Sky, we believe a high level of planning is paramount for business owners so when a client engages us to help them we often start with the question: “What’s your number?” This means we help you drill down to determine how much money is needed, and when, to live the life you want.
Firstly, we ask you to pause for a moment and describe the lifestyle you want to lead. We then ask you when you want to achieve this. With these two vital bits of information, we work with you to calculate how much income you need to deliver this lifestyle and importantly, how this can be achieved. This planning enables you to have a clear strategy for what you need to do and when, and plan your exit from the business to enjoy your life after work…
Click here to read more about the Comprehensive Financial Planning.
What is risk? Well, it means different things to different people and of course there are different types of risk. There is the attitude to risk, tolerance for risk and capacity for risk. We always seek to protect our clients’ interests before building wealth. In a business, a desirable level of wealth may have already been created but it’s important to protect against unforeseen circumstances. We always advocate the importance of being in control as much as possible. Business owners therefore should minimise risk by taking out private medical insurance, income protection, shareholder protection and key person cover. We can advise on all these so that our clients never feel they are building a business on quicksand!
If you are looking for guidance with managing wealth from your business, sucsession planning or your exit strategy call 01202 756560.
Click here to view our monthly blogs for Business Owners from our Managing Director, Gary Neild, who understands just what it is to build and manage a business. Great tips and food for thought to keep you thinking about what’s right for your situation.