Exit planning is a strategy to leave your business when you want, in the way you want, for the amount you want.  With a solid exit plan, you’re more likely to maximize the value of your business and meet both your personal and professional goals down the road. A well-thought-out exit plan can also allow you to reduce or delay the total taxes you owe and keep more money in your wallet. 

RMDs may force you to deplete your tax-advantaged retirement plans faster than you need or want. There are at least 7 ways to reduce or delay your RMDs. This article explores options that show an innovative approach to the one RMD exception letting owners of small businesses legally sidestep RMDs for as long as they want if they’re planning to sell their business.

Exiting your business is a monumental step that requires careful planning and strategic decision-making. One option that can provide significant benefits is an installment sale. This method not only offers financial advantages but also simplifies the transition process. Let’s dive into the basics of what an installment sale is, how it works, and why it might be the ideal choice for your business exit.

National 529 Day, celebrated on May 29th, is the perfect time to focus on one of the smartest ways to save for your child’s education: the 529 College Savings Plan. In this article, I’ll explain the basics of these plans, how they work, their tax advantages, and why they might be the best choice for your family’s educational savings.

Exiting your business is a significant milestone, one that should be approached with careful planning and strategic foresight. However, many business owners stumble upon common pitfalls that can derail their smooth exit. Let's explore these common mistakes and, more importantly, how you can avoid them to ensure a successful and profitable transition.

In the realm of retirement planning, there exists a lesser-known but incredibly impactful strategy commonly called the Mega Backdoor Roth. While the traditional and Roth IRAs offer valuable tax advantages, the Mega Backdoor Roth takes retirement savings to the next level, especially for high-income earners. In this article, we'll delve into the intricacies of the Mega Backdoor Roth strategy, exploring how it works, who can benefit from it, and how to implement it effectively to turbocharge your retirement savings.

Attention, self-employed entrepreneurs! Are you pondering the optimal path to secure your retirement? Look no further than the Solo 401(k), your personalized retirement solution. Tailored for small-business trailblazers without full-time W-2 employees—except, perhaps, your spouse—this plan offers a turbocharged avenue to bolster your retirement savings. Perfect for sole proprietors, independent consultants, LLCs, partnerships, and owner-only S-corporations or C-corporations, the Solo 401(k) mirrors the robust retirement plans of larger corporations, ensuring your financial future shines as brightly as your entrepreneurial spirit. Let’s delve into how a Solo 401(k) can work wonders for your retirement future.

In a world that often touts the saying "cash is king," it's crucial to recognize that this adage doesn't tell the whole story. While having cash on hand provides a sense of security and liquidity, owning too much cash can be a risky financial move, especially if it doesn't keep pace with inflation. In this article, we'll explore the risks associated with hoarding cash and shed light on why letting your money sit idle might be a counterproductive strategy.

Welcome to a new year filled with endless possibilities and, of course, fresh financial goals! As we dive into 2024, let's ensure your financial landscape is not only well-tended but thriving. One of the first things I do in January is plan the contributions I will make to each of my investment accounts with new higher limits and maximize the retirement plans I have access to. Then I review beneficiaries, update important information, and take a look at my credit report to make sure it’s accurate and protected. Here are your January Money Must-Do's to kickstart a prosperous year:

Setting financial goals is a crucial first step, but the journey to success requires more than just good intentions. By following specific action steps, creating accountability, and enlisting the help of a professional financial planner, you significantly increase your chances of not only sticking to your plan but achieving your goals faster and with greater financial security. Remember, it's not just about making resolutions; it's about creating a roadmap to your financial future. You owe this to your future self.

In the journey of life, we often underestimate the profound impact our surroundings have on our well-being, success, and personal growth. Your inner circle—those you choose to surround yourself with—can either elevate you to new heights or hold you back. In this article, we'll explore the transformative power of surrounding yourself with individuals who encourage, motivate, and positively influence your life. We'll delve into the importance of elevating each other's accomplishments, nurturing a culture of collaboration, and inspiring success through an abundance mindset.

It's with great excitement and gratitude that I share with you a special milestone – Cassandra Smalley Wealth Management is celebrating its one-year anniversary! Here's to one year down and many more to come! I am excited and honored to continue collaborating with you on this incredible journey!

When envisioning a vibrant retirement, what comes to mind? Perhaps it's leisurely days filled with hobbies, travel, and relaxation. While these elements are undoubtedly important, there's a hidden gem that can significantly impact your golden years' quality: social connections. In this article, we'll explore the profound role that social bonds play in longevity and the keys to cultivating a vibrant retirement through meaningful relationships.

Investing in your future is the key to achieving lasting financial freedom. In a world where longevity is increasing, staying ahead of inflation, and planning for a long retirement are vital to your success. By investing wisely, you secure your future, enhance your lifestyle, and create opportunities for personal and financial growth. It's about taking control of your financial story and writing the next chapter with confidence and purpose. Start your journey toward financial security today.

One of the delicate balancing acts in gifting money to a family member involves providing support without inadvertently fostering attitudes of entitlement and financial dependency. While it's natural to want to help our loved ones in times of need, it's essential to strike a balance that encourages their financial independence and self-sufficiency. In this article, we'll explore the concept of financial vigilance, why it's crucial, and how to navigate the fine line between assisting and enabling.

As we approach 2024, millions of Americans are in for significant changes in their financial landscape. The article takes a closer look at the anticipated 3.2% increase in Social Security benefits, offering a glimmer of hope for those facing rising living costs. But it doesn't stop there. Medicare enrollees should prepare for an uptick in their Part B premiums, revealing the delicate balance of managing financial security in an ever-changing world. Discover how these adjustments may impact your financial picture and the importance of having a robust financial plan in place to navigate these shifts.

In the realm of financial planning, few actions are as crucial and often overlooked as initiating family meetings. These gatherings serve as a cornerstone for aligning family members' values, expectations, and financial plans. In this article, we'll explore the why, when, and how of calling a family meeting, emphasizing the significance of open communication, transparency, and preparedness in achieving both financial harmony and stronger familial bonds.

Estate planning is a fundamental financial step that every woman should undertake, regardless of age or financial status. It's not just about managing wealth; it's about ensuring your wishes are honored, your loved ones are protected, and your legacy endures. Estate planning documents are especially important if you have any wealth to your name, own property, or have children. Here are ten compelling reasons why every woman should go through the estate planning process.

September is Life Insurance Awareness Month, and there's no better time to delve into the significance of term life insurance. While it's a topic often pushed to the back burner, understanding and securing term life insurance is a vital financial step that can provide peace of mind and financial security for your loved ones. In this article, we'll explore the reasons why having term life insurance should be a priority in your financial plan.

In the hustle and bustle of our daily lives, we often forget to prioritize the most important asset we possess—ourselves. True well-being extends beyond just our physical and emotional health; it encompasses our financial health as well. Financial self-care isn't just about budgeting and saving; it's a holistic approach that intertwines emotional, physical, and financial well-being. In this article, we'll explore how these areas of self-care are interconnected to motivate you to take control of your financial future.