Business ownership and tax management play essential parts in your retirement plan.

In this episode, Travis Gatzemeier, a CFP and founder of Kinetix Financial Planning, discusses the two big sources of wealth in society: business ownership and equity compensation. He breaks down the wealth-generating potentials of these two while also highlighting the risks involved.

You’ll also get to know Travis’ journey from trading derivatives to launching his own financial planning business, which focuses on helping entrepreneurs and individuals with equity compensation. He explains the challenges in entrepreneurship and why it's crucial to pay your taxes correctly.

While owning a business can reduce taxes, Travis warns against making decisions based solely on this factor. Our guest shares his non-traditional route to becoming a business owner and sheds light on the importance of combining finances with investment advisory when it comes to retirement planning.

Highlights

04:36 Control your behavior for wealth.

14:00 The common misconception of new business owners

18:50 Retirement planning for small business owners

25:27 Exploring strategies for personal cash flow management

27:53 Why you should never run out of cash

30:02 Utilizing equity compensation as a wealth-building tool

43:14 Pay taxes early to avoid surprises

49:00 Tax planning strategies for business owners and W-2 employees

55:52 The value of accountability in achieving financial growth

 Links

To learn more about Travis Gatzemeier’s business check out Kinetix Financial Planning

You can also visit his Twitter @T_Gatzemeier, Instagram @kinetixfp, and LinkedIn profile Travis Gatzemeier 

✅Contact Thatcher at [email protected] with comments and questions!

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DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.