The Hidden Connection Between Business Decisions and Personal Wealth

In the first episode of Beyond the Advisor, Nina Breen, CFP®, RICP®, CPWA®, and Micah Alsobrook, CPFA®, MBA, unpack the planning and retirement questions that successful families and business owners often overlook.They discuss cash reserve strategy, retirement plan timing, how concentrated business wealth can create blind spots, and why coordination between advisors, CPAs, and attorneys is so important. They also walk through Roth conversions, SIMPLE and SEP plans, safe harbor 401(k)s, and real-world examples of tax-sensitive planning decisions that can go wrong when timing is missed.Key Topics Include:Cash reserve targets for households, retirees, and business ownersWhy starting a retirement plan earlier can matter more than people thinkConcentration risk for business ownersHow SIMPLE IRAs and SEP IRAs compare with 401(k)sWhy financial, legal, and tax professionals need to coordinateRoth conversions explained in plain EnglishTax timing mistakes that can affect retirement plan contributions