In my latest interview with key people in the financial services world, I had the pleasure to hear from my friend Ali Nasser as he explained his history of working with business owners and their "dilemmas". We chatted about our friendship, history, and how he decided to write his book where you'll learn that you aren't alone in how you run your business, what you prioritize, and what you think about. He has spoken nationwide about this topic, and you can learn more by accessing his book through this link:
If you'd like to purchase his book, please use the following link:
https://www.amazon.com/Business-Owners-Dilemma-Control-Chatter/dp/1544501463
Through his stories, he'll help you gain clarity of what is most important to you, and help you lay out a plan for your "ideal" situation.
P.S. SEB does not make any money on the sales of this book, and 100% of the proceeds from his book go to Charity (Water). We hope that you enjoy what it offers you, and that if you find value, we would be happy to help you Clarify your ideal Future.
As a financial advisor of over 34 years, where I grew up at the kitchen table listening to BOTH of my parents discuss their day at work, I learned the “basics” of finance at a very young age. Some would even say, “he couldn’t run fast enough to get away from it”.
So how can the knowledge shared over the kitchen table by two of the smartest financial people I’ve known in my life help you? Well, first off, if you haven’t had the chance to listen to “The Perfect Plan” podcast on YouTube hosted by Matt Schiff and Schiff Benefits, then you have missed out on incredible “wisdom” from financial services industry wizards from all sides of the financial services world. Hear from experts like:
- Tom Hegna (Former SVP of NYL Annuity Division)
- Jamie Hopkins (Preisdent of Bryn Mawr Trust Advisors)
- Joe Jordan (Living a Life of Significance Author)
- Bud Schiff (Managin Director Alvarex and Marsal)
- Dan Zugell (SVP of BTA Advisors)
- Lindsay Hanson (VP of JH Vitality)
- Ali Nassar (Business Person's Dilemna)
https://www.youtube.com/@SchiffExecutiveBenefits/videos
But forget the podcast, if the market is down 5% - 10% in the last week… I am running around like Chicken Little – Protect Me. Your retirement assets are at risk, you may be close to, or in retirement, and can’t afford a market downturn with a POTENTIAL recovery. You need income, you need security, and a correction has a material impact on you. How can I LOCK IN my value today, the income potential, while also getting upside potential? Questions, more questions, and where can I find the answers?
So, what should I do? Sell? Buy and hope that I caught the bottom? Truth is, it’s not the investors job to TIME the markets. At the same time, you shouldn’t “blindly” give money managers money. But is SHOULD be aligned with being able to put your HEAD ON THE PILLOW every night, and being able to sleep comfortably, no matter if it goes up or down.
At Schiff Executive Benefits we aren’t market timers. We don’t claim to know one industry over another, or say you’ll get X amount of return. What we DO KNOW is that after a combined 80+ years of experience, we listen to what you want to accomplish, formulate a plan, and help you execute it with a formal review to stay on track. There are ways to PROTECT your downside market risks while also participating in the upside potential, both in pre- and post-retirement years. It all depends on your risk/reward levels. A younger individual can afford more risk and as you get older, you should try to manage that downside risk, with strategies that FIT YOUR GOALS. Let SEB help you define and achieve your goals.
If this aligns with your feelings, goals, and risk strategy, then email us at info@schiffbenefits.com to start your journey. Our advisors will help you create a strategy with YOUR goals in mind.
#StockMarket #Retirement #Alternatives #Income #Protection #Goals #HeadonPillow
Life Saving Early Cancer Detection and Healthy Lifestyle Choices with Lindsay Hanson of John Hancock
Today we had Lindsay Hanson, Chief Marketing Officer, John Hancock & Global Head of Behavioral Insurance (Platinum Vitality Member), on to discuss how an insurance company is helping to change people's LONGEVITY with their Vitality Program. She discusses the features, its benefits, how it is saving clients money, and helping them detect cancer at the earliest stage. And by catching cancer at stage 1 or 2, survivability rates can be as high as 89%.
There are two versions of the program, Vitality GO and Vitality PLUS, to choose from, depending on individual goals and interests. Participants can earn Vitality Points by logging healthy activities through the Vitality app or website, and these points add up to a Vitality Status. The higher the status, the greater the rewards.
Rewards and discounts can include:
- Apple Watch Series 3
- Complimentary Fitbit device
- Wearable device discounts
- HealthyFood benefit
- Cruise rewards
- Half-price hotel stays
- Free health check
- Healthy gear discounts
- Shopping and entertainment discounts
With Vitality PLUS, participants can save up to 25% on their life insurance premium. The program also includes a Healthy Engagement rider that determines the total premium based on the insured's achieved status and as part of the program, the Grail Test by Galleri, is provided at NO COST (a $995 value).
Every business owner starts their business with the intent to "sell it" sometime in the future, make a lump sum, and walk away. Most likely, if you are reading this, you're more than far enough along in your ownership journey that you are now asking yourself:
"How much is my business worth?".
At Schiff Executive Benefits (SEB), we use a business valuation program called RISR that can help you find out. If you use Quickbooks, an owner can share their last three years of tax related data electronically, seamlessly, and securely through a link that we will send you to your PRIVATE valuation. After uploading that data, and answering a few questions about the operation of the business (i.e. ownership, tax structure, client concentration, operational questions, etc.), RISR will generate a SNAPSHOT value for SEB to review with you, so that you can realize your DREAM value in the future.
Using the results from the report, you can:
- Negotiate offers with potential buyers,
- Discuss with management ways to improve profitability
- Review potential business valuation risks, and
- Align your people with the future growth of the company.
Here were some of the solutions that our clients decided upon after engaging SEB:
- Sold to an outside party
- Implemented an Installment (structured) sale to the employees/family member
- Employee Stock Ownership Plans
- Sell some or ALL of your stock
- Retain Control of the company
- Immediate Tax Savings for an S Corp
- Provides Retention Strategy for ALL employees
- Buy/Sell Planning Between Partners upon:
- Death
- Disability, or
- Retirement
- Tax Efficient Retention Strategies
- Executive Bonus
- Restricted Executive Bonus (REBA)
- Supplemental Retirement Plan
- Excess 401K Plans
- For YOUR report specific to YOUR company, Complete the form below to request your link for your business valuation.
A FULL sample report can be downloaded here: Schiff Auto report
In a PERFECT world, how would you design a "benefit" plan for you (the Business Owner), your key executives, and your family? Well, in this Episode, Matt goes through some design options available when starting a brand new plan. In essence, you have a blank piece of paper that allows you to build it YOUR way.
Sit back grab your coffee, and listen to some options available to you depending on your role.
https://youtu.be/VUsv8NaXsrc
Are you a business owner? Have you ever thought about selling your business? How much is it worth? Do you have other shareholders, or family that own part of the business?
Well, in this, the Sixth episode of The Perfect Plan, Dan Zugell, my friend and colleague of 25 plus years goes into the wonder of an Employee Stock Ownership Plan (ESOP). In this qualified retirement plan solution for a business owner, you have a ready and willing buyer, that will buy your business, for a set dollar amount, at a set triggering event. If done correctly, you as the business owner can still run it, control it, and participate in the future growth of your company.
Dan goes into the benefits, tax advantages, and rules of how to design "the perfect" exit strategy for the closely held business owner. Take a few minutes and hear what he has to say, then contact us on how we can help you monetize your largest asset.
Ps. You can schedule a direct call with Dan at https://dantheesopman.com/ or with SEB at Calendly - Matthew E Schiff
https://youtu.be/mXFv0Cp3zAo?si=STHkIxZZqru-m5L4
In this episode, the 5th Episode of the "The Perfect Plan", Jamie Hopkins Esq., LLM, CFP®, ChFC®, CLU®, RICP® CEO Bryn Mawr Capital Management, LLC joins us to discuss investments, wealth accumulation, the Department of Labor, and Retirement Planning. Check out his insight into how to create your "Perfect Plan".
As a business owner, how do you keep your best people and properly plan for yourself and your executives? Well, Bud Schiff, past President of Mutual of New York (MONY), past president of NYLEX Benefits, managing director of Alvarez and Marsal gives his insight of over 50 years in this podcast about employee retention strategies.
If you want to find a way to "retain" your best employees in a post no "non-compete" environment, listen up, and then give us a call. It's easier than you think, and it costs more to retrain a new hire, than it is to retain your best employee.
Are you an Attorney, Accountant, TPA, Trust Officer, Insurance Agent, Property and Casualty agent? If you work with Business Owners, and their families, then you want to be at this meeting where you will hear about how to COLLABERATE with other professionals who work with your client.
We will spend the day on Thursday, May 16th at the Fitler's Club in Philadelphia sharing a case study that is VERY relevant in today's world. How do you handle the intricacies of the family while bringing together all needed advisors to work seamlessly?
Well, we will have 20-25 attendees from different professions, coming together to discuss the challenges that they are facing with their clients in 2024. Come join us, and network with some of the best in their fields.
P.S. The night before, we have a Box at Citizens Bank Park for the game between the NY Mets and the Philadelphia Phillies (@6:40pm).
Sign up below to save your spot.