Many business owners are always looking to motivate their employees, generate better results and save themselves some taxes.

On the latest episode of Your Money & A Cup of Joe, we’re looking at one tool that can potentially do that and more for some businesses. It’s a retirement plan and succession tool called an employee stock option plan, or ESOP.

Tune in for another great dialogue that's bound to leave you with some helpful considerations for your own business and financial world.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:15 - Why this type of retirement plan is one that business owners should be considering

2:47 - An overview on how an ESOP works

4:29 - The key ways an ESOP differs from other retirement plans

5:30 - How an ESOP can benefit a business owner specifically

7:56 - How your business specifically benefits from utilizing an ESOP

9:36 - An ESOP can help facilitate business succession as well

11:30 - Should you be considering an ESOP for your company?

13:26 - The first step into developing an ESOP for your organization

14:18 - How you can get in touch with Joe and his team to discuss this topic

14:57 - Closing remarks

Connect with Joe Calao:

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With so many changes happening in the world, perhaps even in your own family, a trust you've set up to achieve your financial goals could be outdated!

On the latest episode of Your Money & A Cup of Joe, we're examining how to size up the current status of your trust to see whether it's still on track, so you can decide if any changes are appropriate.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:25 - Setting up a trust is only the first step!

2:28 - How might your trust not be positioned to achieve what you intended it to accomplish

3:20 - Where to begin when reviewing your current trust

5:10 - Issues that get overlooked when revisiting your trust

6:11 - A big mistake people should be avoiding

9:16 - How a stress test can uncover issues within the trust review process

10:56 - Who you can turn to for assistance with revisiting your trust

12:50 - How you can get in touch with Joe and his team

13:43 - Closing remarks

Connect with Joe Calao:

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Running a successful family business takes a tremendous amount of both working hard and working smart. You also need to navigate family dynamics along the way, which adds its own layer of complex challenges to the mix.

On the latest installment of Your Money & A Cup of Joe, we’re examining some of the key mistakes that too many successful family businesses make and how to best avoid them.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:30 - There is a massive need for wealth planning when a family business is involved

2:50 - The apparent risk for mistakes that arise with family businesses

4:50 - What families should be looking for in a wealth manager

6:01 - Don't over focus on minimizing taxes for your family business

7:58 - What happens when families are secretive about their wealth planning

10:01 - You need to keep your wealth planning efforts accurate and up-to-date

11:31 - What families should be doing if their plan is outdated

13:04 - Viewing the sale of a family business as "failing" in some way

14:55 - How you can get in touch with Joe and his team

16:39 - Closing remarks

Connect with Joe Calao:

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When it comes to managing wealth, it’s pretty rare to just stumble into success. We find the most successful individuals and families employ a specific process that is designed to anticipate the challenges they’ll face and achieve the outcomes they most want.

On the latest installment of Your Money & A Cup of Joe, we're exploring the "Virtuous Cycle" and how you can use it to power the pursuit of better results in your own financial life!

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:32 - Investors should be focusing their attention towards implementing a process

2:58 - The particular approach that Joe's team utilizes

4:08 - A deep understanding on who you are

6:08 - Working with a network of other professionals and experts

7:04 - The scenario-thinking involved in the Virtuous Cycle

9:45 - How to hone in on a path that's right for you

11:25 - The world is changing and your process needs to be monitored and refined

13:18 - How to know if a wealth manager is implementing a similar approach or process

14:50 - How you can get in touch with Joe's team

15:40 - Closing remarks

Connect with Joe Calao:

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LinkedIn

Your company's good name is a key driver of your future success!

In the latest installment of Your Money & A Cup of Joe, we're examining the right steps to nurture your reputation among clients, prospects, partners and the public at large. Also, we'll explore how to respond quickly in the event your reputation takes a big hit.

This episode is packed with some helpful takeaways for you and your organization!

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:11 - It's vitally important to track and manage your company's reputation

2:30 - How the digital age plays a role in maintaining your company's reputation

4:20 - What's happening online that's shaping people's opinions on a given entity?

5:45 - Do some digging on your own business

6:56 - Additional action steps to reinforce your reputation online

8:37 - Smart ways that a business can engage with customers

10:31 - How you should be responding to a reputation crisis

12:25 - Should you be getting involved in the online discussions around your reputation?

14:30 - How you can get in touch with Joe and his team

15:38 - Closing remarks

Connect with Joe Calao:

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LinkedIn

Great success in life and business is often fueled by deep connections and productive relationships!

On the latest installment of Your Money & A Cup of Joe, we're examining the importance of relationships, as well as a four-step process for helping you build and enhance connections to help you reach your goals.

Sit back, relax, and enjoy yet another thought-provoking conversation on the show!

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:15 - Having strong connections can fuel success for you

3:35 - How the disconnection among people can lead to negative results

5:05 - Where to begin in terms of connecting with practically anyone

7:02 - What to do when someone isn't as forthcoming with information as you'd prefer

8:54 - Appeal to others' self-interests and goals in life

10:51 - Track the results of your impactful conversations and actions together

13:51 - How to connect with Joe and his team

15:50 - Closing remarks

Connect with Joe Calao:

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LinkedIn

How confident are you that your business planning efforts are on track to get you the results you want and need? Unfortunately, many business and wealth plans aren't fully aligned with their owners' goals.

On the latest installment of Your Money & A Cup of Joe, we're examining how a business stress test can help entrepreneurs, determine where they stand and what changes they may need to make to keep their companies on track.

Enjoy!

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:30 - What does a stress test entail?

2:44 - Stress testing is focused on results

3:40 - Where the data comes into play within a stress test

4:45 - Specific areas where entrepreneurs benefit most from a stress test

5:40 - How a stress test can help with exit planning strategies

7:15 - Where asset protection planning comes into play with a stress test

8:23 - How retirement planning fits into stress testing

10:32 - How can business owners decide whether they should do a stress test

12:52 - How you can get in touch with Joe and his team

13:54 - Closing remarks

Connect with Joe Calao:

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None of us want to think about losing our mental edge later in life, but it's something you need to consider. Commonly, people experience a degradation of financial decision-making abilities and "mental sharpness" beginning in their 60s or 70s.

On the latest installment of Your Money & A Cup of Joe, we're addressing strategies to safeguard your assets from any wealth-destroying mental money mistakes before that time comes!

This is such an important conversation and we hope you leave with some key takeaways for your own financial well-being!

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:23 - We need to confront this tough issue

2:24 - How a loss of mental awareness can lead to poor wealth-related decisions

3:55 - What people can do to potentially mitigate the risk of making mental errors

5:25 - The steps you should be considering

6:30 - It's important to be open with your advisors about your financial situation

9:00 - The legal steps and formal documents you need to consider

11:53 - Steps that get overlooked during this process

15:06 - There are options out there!

16:00 - Closing remarks

Connect with Joe Calao:

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Planned giving can help you do well financially, while also making an impact on others. When you provide meaningful financial support to the causes you care about, the potential for tax breaks arises.

On the latest installment of Your Money & A Cup of Joe, we're exploring the various charitable giving strategies and vehicles that can help you get started, as well as reinforce your existing philanthropic efforts.

Join us for another great conversation that's sure to leave you with some key takeaways for your own portfolio.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:45 - Is there a general interest among the affluent with charitable giving

2:58 - How wealth planning fits into charitable giving efforts

3:48 - The first step into smart and effective charitable giving

4:53 - The foundational charitable giving strategies

6:06 - The next-level charitable giving strategies and vehicles that exist

8:05 - The advanced options that philanthropists are pursuing

10:05 - Who you can discuss charitable giving strategies with

11:46 - Despite tax breaks, you need to have charitable intent

13:03 - How you can get in touch with Joe and his team to discuss charitable giving further

14:12 - Closing remarks

Connect with Joe Calao:

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Many of us have thought about how to best transfer our wealth to our heirs someday. Unfortunately, parents and grandparents with significant assets don't always spend enough time on passing along the values that helped the build, grow, and maintain that wealth.

On the latest installment of Your Money & A Cup of Joe, we're examining the importance of transferring values to our kids, as well as how to go about this process.

There's plenty of beneficial information packed into this episode! So sit back, relax, and enjoy another informative conversation.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:35 - The issues that arise when values aren't incorporated in conversations with heirs

2:34 - The types of people that inherit wealth and do a better job

3:20 - How to begin this process of instilling values within your heirs

5:26 - Communicating values naturally

7:02 - Ideal times and moments to have these values-based conversations

8:40 - Action steps you can take to start this process

11:15 - Advice for family business owners on this front

13:15 - Final thoughts to consider from Joe

14:30 - How you can connect with Joe and his team for advice on this topic

15:40 - Closing remarks

Connect with Joe Calao:

Website

LinkedIn