• Financial Planning for Entrepreneurs and Small Business Owners

  • Feb 11 2025
  • Length: 17 mins
  • Podcast

Financial Planning for Entrepreneurs and Small Business Owners

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  • Summary

  • Welcome to Novem Nexus: Navigating Your Financial Narrative, where we explore the various topics of finance, the stories, strategies, and psychology behind our financial decisions with host Greg Wagner as we dive into the intersection between finance and the human experience.

    The financial landscape is saturated with advice and rules, Novem Nexus aims to stand out by focusing on the underlying motivations, beliefs, and emotions that drive our financial behavior. We explore not only the 'what' and 'how' of finance but, more importantly, the 'why.' At Novem Group, we believe that finance is not just about numbers and equations; it's about real people with real emotions. That's what this podcast is all about: understanding the reasons behind our financial decisions and uncovering the narratives that shape our financial lives.

    Novem Nexus is more than just a podcast. Connect with us on social media, share your experiences, and join the conversation. Together, let's navigate our financial narratives with confidence. Welcome to Novem Nexus: Navigating Your Financial Narrative.

    Greg Wagner is an Investment Adviser Representative with Novem Group, an SEC-Registered Investment Adviser firm. All opinions expressed by Greg Wagner or any guests are solely their own and do not reflect the views of Novem Group. This podcast is for informational purposes only, and does not constitute tax, investment, or other financial advice, and is not endorsement of any securities discussed, and listeners should not rely on it for their financial decisions.

    In Episode 7 of Season 2, "Financial Planning for Entrepreneurs and Small Business Owners," we dive into strategies tailored for business owners who balance their personal finances with business growth. We discuss the importance of separating personal and business accounts, managing cash flow, and developing comprehensive financial plans that integrate both personal and business goals.

    In the first segment, we highlight the importance of balancing finances, cash flow management, and creating a reserve for personal and business stability. The second segment focuses on investment and retirement planning, exploring options like SEP IRAs, Solo 401(k)s, and diversifying investments beyond the business. We also emphasize the significance of having an exit strategy for long-term planning.

    In the final segment, we discuss protecting business and personal assets, including insurance options, legal structures, and tax strategies. We provide actionable tips on building an emergency fund to safeguard against financial uncertainties. This episode offers business owners valuable insights into achieving long-term financial success by aligning their personal and professional finances.
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