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Do you have enough assets to meet retirement needs??

By Allan Morse

A critical question every small business owner must answer

Building your successful business was no easy task - it took vision, expert knowledge, the right strategies, discipline and flexibility. Your retirement plans require that same kind of attention. A comprehensive financial plan is built from a detailed analysis of your current situation and explores opportunities that will ensure you are on the right course to retiring the way you want.

A plan for you and your business
As a business owner, you have a lot more on your plate than most. Your retirement plans need to take special needs into account, including:

Cash management.
Accounting for the natural peaks and troughs of your business cycle and making sure you have a comfortable income stream during your transition period and during retirement.

Debt management. Ensuring your business is using effective options to finance success

Tax planning. Maximizing your corporate revenue and personal income by minimizing your tax obligations

Investment planning. Creating the right investment mix to achieve your financial goals

Risk management. Protecting your family, assets and business

Estate planning. Building integrity and value into your estate and ensuring that business needs are appropriately delegated

Banking your success

When the time is right for you to transition from your successful business to the retirement of your dreams, there are a number of issues you need to consider. A comprehensive plan can help you with:

Transitioning your business.
Protecting your income stream

Effective cash management. Giving you the time you need to weigh your long-term investment options

Investment options and advice. To help you choose a solution that fits your new lifestyle and protects your wealth

Tax strategies. That maximize the sale revenue to give you more options in the future

Maintaining the income stream
Once your retirement income needs have been identified and the strategies have been decided, it is just as important to monitor your progress to ensure your detailed financial plan continues to provide enough income to support your retirement lifestyle. Allan Morse is Vice-President and an Investment Advisor with RBC Dominion Securities Inc. in Charlottetown, PEI. Member CIPF. Allan can be reached at 1-800-463-5544or at This article is not intended as nor does it constitute tax or legal advice. Readers should consult their own lawyer, accountant or other professional advisor when planning to implement a strategy.

Allan Morse is a Senior Investment Advisor with RBC Dominion Securities in Charlottetown, PEI. Over his career he has focused on the importance of financial planning which he feels helps clients set clear, attainable goals. If you have any suggestions regarding this article or any issue regarding financial or investment planning, please call him direct at 1-800-463-5544.

You can Email Allan here.