Episode 23: Let's Talk About Retirement Planning (with Ariel Ward)

Adding a Personal Financial Planner to your business team can help you better manage your business by guiding you in clearly defining your goals. They can also help you tie your business goals into your personal life by explaining how much profit you should be making at each stage of your business and how to use that money to live comfortably. On this week's episode, Julie is joined by Ariel Ward! Ariel Ward, CFP® is a financial advisor at Abacus Wealth Partners. She has over a decade of experience in the field of personal financial services and in helping clients develop financial clarity. She is passionate about helping business owners grow their net worth and make better decisions with their money. Ariel helps her clients define their goals, stay focused on what's important and work toward building a more abundant financial future. She believes having a clearly defined financial plan gives her clients the ability to be more present with their families and friends and gives them the freedom to enjoy their life. Episode Highlights: To get started, you want to sit down and picture how you would like your life to look. Family planning, retirement, emergency funds, vacations, and insurance are all things to take into consideration when sitting down with a financial planner. Accountability Your financial planner will refer back to the goals you set during your consultation when assisting you with making financial decisions. They will also help you determine all of your options and how each option can help you achieve your goals. They will also periodically sit down to revisit the original goals you set to make sure they are still relevant. When does it make sense to make a retirement plan? As soon as you can afford to! You want to begin a retirement plan once your business's net income has grown to a place that exceeds covering your basic needs and living expenses. Different types of retirement plans SEP 401K Simple IRA Roth IRA ... and so many more! What should you look for in a financial planner? How the person offers guidance How often you would like to work with them What kind of services do they offer? (Monthly, Quarterly, Annually, etc.) Someone who understands different business entities and how finances work for each entity Someone that will put your best interests first Links & Resources: Ariel Ward - Abacus Wealth Partners The E-Myth Revisited GreenOak Accounting Therapy For Your Money Podcast