Exit Coach Radio

Bill interviews executives from Golden State Foods about their corporate culture that is giving back to communities near and far, and John Dini about Exit planning Myths.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

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Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Oren Klaff for his tips and ideas about preparing for and closing BIG deals.

Visit ExitCoachRadio.com for Audio, Videos, Books and Interactive Tools to Grow Your Business Value, Protect Your Family and Prepare for your Future Transition.

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In this 1 minute highlight, John Brown, President and Founder of BEI (Business Enterprise Institute), discusses one of the three headwinds that have created a difficult environment to exit a business.  

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In this 1 minute highlight, Chuck Kiskaden, President/CEO, Health Benefits Advisors  discusses the Affordable Health Care Act, A Good Broker is Now More Needed Than Ever. 

Visit ExitCoachRadio.com for Audio, Videos, Books and Interactive Tools to Grow Your Business Value, Protect Your Family and Prepare for your Future Transition.

New! Get our iPhone app at the App Store  - search for Exit Coach Radio. Grow your business value by up to 71% - take a free assessment at www.BizGrowth123.com

Expecting mom and dad to help fund your retirement by leaving you an inheritance? Don’t count on it.

That’s one of the messages behind a new survey by HSBC Holdings PLC, the London-based parent of HSBC Bank USA.

According to the survey, 23% of pre-retirees would ideally like to spend all of their savings and let their children fend for themselves. In contrast, a mere 9% say they want to save “as much money as possible to pass on to the next generation.”

What’s behind the 14-point gap between those who want to spend it all and those who want to give as much as possible to younger generations? Several things. Many worry that by giving money to their children they will “take away the drive of the next generation to succeed,” says Brian Schwartz, an HSBC wealth adviser. Still, others anticipate that due to improvements in longevity, they may spend much of their savings along the way.

For many, though, the “spend it all” mentality doesn’t necessarily equate to a desire to spend it all on themselves. Mr. Schwartz says many people in or approaching retirement are interested in or practicing a “new approach” to estate planning that emphasizes giving away some money to the next generation while they are still alive. For some, the appeal is that they will get to see their children and grandchildren enjoy and benefit from their largesse. For others, it’s a way of testing the impact an inheritance will have on their progeny — in order to make adjustments if necessary. Still, others want to give their money away while alive for tax reasons.

“There is already talk in Washington about reducing the estate tax exemption to the levels that were in effect in 2009,” says Mr. Schwartz. Currently, individuals can transfer $5.43 million tax-free at death. A return to 2009’s level would mean the limit would revert to $3.5 million. “People recognize that estate taxes may go up” in the future, making it more palatable to give assets away now, he says.

The survey of 1000 Americans — 21% of them retirees — was part of a global survey of 16,000 people in 15 countries.

While the new approach to inheritance makes a certain amount of sense, it nonetheless comes with risks. In particular, giving away money before death now can leave you at greater risk for not having enough in later life.

The best plan, financial advisers say, is for families to talk — if only to establish realistic expectations.

Not surprisingly, many families are loath to discuss these issues. Adult children, in particular, aren’t eager to ask their parents about inheritances for fear of coming across as greedy.

Still, the survey indicates that working Americans have high hopes for inheritances — perhaps too high, according to Mr. Schwartz. According to the survey, almost half expect to receive an inheritance. Among them, nearly 20% are banking on an inheritance to completely or largely fund their retirements, while half say they expect to receive enough to provide them with some support in their later years.

While some may have good reason for their expectations, many others are likely to find that they won’t be getting nearly as much as they had hoped, says Mr. Schwartz.

In an era of low interest rates, volatile financial markets, expanding longevity, and rising costs for health and long-term care, parents may find that they need every penny for themselves. Indeed, thanks to medical gains, a 65-year-old man has a 60% chance of living to age 80 and a 40% chance of reaching 85. For women, the odds are 71% and 53%, respectively. All of this has made the 85-and-over age bracket the fastest-growing segment of the population.

Visit ExitCoachRadio.com for Audio, Videos, Books and Interactive Tools to Grow Your Business Value, Protect Your Family and Prepare for your Future Transition.

New! Get our iPhone app at the App Store  - search for Exit Coach Radio. Grow your business value by up to 71% - take a free assessment at www.BizGrowth123.com

Audrianne Adams-Lee of HR Network, Inc. discusses some very basic steps that anyone can take to reduce the incidence of some of the most common claims that effect Employers.

John Livingston of Plethora Businesses shares a quick overview of what it takes to prepare a business for sale.

Visit ExitCoachRadio.com for Audio, Videos, Books and Interactive Tools to Grow Your Business Value, Protect Your Family and Prepare for your Future Transition.

New! Get our iPhone app at the App Store  - search for Exit Coach Radio. Grow your business value by up to 71% - take a free assessment at www.BizGrowth123.com

Ben Olsen is in the business of Mergers & Acquisitions and is here to discuss the important factor called: The Buyer's Perspective. 

Questions Answered: 

1. What does a buy-side firm do? 

2. What is most important to a buyer? 

3. What are three things that make a great seller?

Contact Info: 

Website: www.thedvsgroup.com

Email: [email protected]

Bonus Material: 

See our sample due diligence checklist

Visit ExitCoachRadio.com for Audio, Videos, Books and Interactive Tools to Grow Your Business Value, Protect Your Family and Prepare for your Future Transition.

New! Get our iPhone app at the App Store  - search for Exit Coach Radio. Grow your business value by up to 71% - take a free assessment at www.BizGrowth123.com

Teri Goetz describes how to get in touch with your "Four Pillars" and embrace your future.

Visit ExitCoachRadio.com for Audio, Videos, Books and Interactive Tools to Grow Your Business Value, Protect Your Family and Prepare for your Future Transition.

New! Get our iPhone app at the App Store  - search for Exit Coach Radio. Grow your business value by up to 71% - take a free assessment at www.BizGrowth123.com

Stuart Procter is making the jump from 10-year CEO of an engineering company servicing the highly technical semiconductor manufacturing industry to executive mentoring and coaching.

Questions Answered: 

1) What drove you to reinvent yourself professionally? 

2) What is your "why"? 

3) Where do you see yourself in 5-years?

Contact Info: 

Email: [email protected]

Website: www.semiserveinc.com

Visit ExitCoachRadio.com for Audio, Videos, Books and Interactive Tools to Grow Your Business Value, Protect Your Family and Prepare for your Future Transition.

New! Get our iPhone app at the App Store  - search for Exit Coach Radio. Grow your business value by up to 71% - take a free assessment at www.BizGrowth123.com