Steve Beatty, the founder of Financial Solutions for Business, started out on a very different career path - sports writing - but maybe it was looking at those multimillion contracts of pro athletes that got Steve interested in financial planning.
After graduating from the University of California, San Diego, and working at newspapers that included the Los Angeles Times, Steve launched a new career as a financial planner and has been working alongside owners of closely held businesses for more than two decades.Steve specializes in wealth management along with the cornerstones of planning: business, tax, estate and exit.
After graduating from the University of California, San Diego, and working at newspapers that included the Los Angeles Times, Steve launched a new career as a financial planner and has been working alongside owners of closely held businesses for more than two decades.Steve specializes in wealth management along with the cornerstones of planning: business, tax, estate and exit.
Services
You've created a successful business. The tough part is developing the right financial strategies to protect what you've built and to ensure you'll be able to enjoy yourself along the way and at retirement. Even harder is knowing what the right strategies are for you and your unique goals and situation.
When you're a business owner, it's especially crucial. You need to create a plan to keep your business viable to support not only your family when you pass away, but to keep your devoted staff employed. You shouldn't reinvest your profits in your business if that means sacrificing your financial flexibility.
But money - or the lack of it - also can create great worry. Almost one-third of adults in the United States don't have enough money put away to cover their living expenses for a month. About half of them are worried they won't have enough money to retire comfortably. That's according to a 2018 survey commissioned by AARP and the Association of Young Americans.
Your company has generated predictable healthy revenues for years, enough to support your family and your employees' families. But that doesn't mean the cash flow will continue without interruption. An economic downturn could stop your income stream. You or one of your partners could miss work for an extended period because of an accident or an illness.
When you started your business, you were everything. You wrote the business plan, created the products and marketed them to buyers, then packed your products to ship and took them to the post office. As your business grew, you brought on employees to help you. You have an R&D director, a sales manager, a director of shipping.
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